Though the agreement allowed Trump to soldier on in Atlantic City, his casinos landed in bankruptcy court twice more. Trump himself proved to be less of a sure bet. “The Trump name is still very much an asset,” he said. Ross insisted that Trump was worth saving. “Why did we make a deal with him?” one asked, according to Rosenberg’s book. The final deal reduced Trump’s ownership stake in the Taj but left him in charge, and bondholders were unhappy when Ross presented the plan.
Ross, then an investment banker working for Rothschild Inc., helped bondholders negotiate with Trump, whose finances were unraveling.
