Can’t blame any company for not backing Trump to the tune of a cool half a billion.

1) Most of his assets are in property, if I’m not mistaken. Commercial real estate isn’t exactly a winning hand in today’s market.

2) Trump has repeatedly overvalued his properties, so there’s really no trustworthiness is there?

3) He is notorious for not paying much of anything, if not outright stiffing companies he owes money to, so any potential backers already know this and that shoots their trust level down to somewhere around absolutely zero.

4) Potential backers are given access to his financials when considering bond. Thirty different underwriters declined, which indicates (at least to me) that the value of his assets in total may not be sufficient to cover the bond amount.

I’d wager he is broke on paper. At some point, his lenders are going to say, “Enough!” and call in his outstanding debts because of his well-established patterns of deception and fraud. And at that point he will be broke - and not just on paper.