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Major Asset Seizure Likely as Trump Can't Afford Bond for NY Fraud Case
(www.commondreams.org)
Why would he need to raise the money? He told the court he had $500M in liquid assets.
Could it be that he was being untruthful in his statement to the court? I think there is a word for that.
He testified to $400M, and he already put up a $100M bond for the other thing. But the whole point of this is that he overvalues things, right? I bet when his people had to get down to the actual state of the accounts and not what DJT feels they are, it was probably only $200M or so that is liquid.
It's not worth going after him again for overstating that in court. It's too easy to skirt around. His punishment will come when the DA starts seizing and auctioning stuff to pay the judgement.
He put up I believe $2m for the other thing. The rest was covered by the bond company.
So he should still have at least $398m if he claimed 400...
That's not quite how it works. When the bond company writes the bond, they don't just take the $2m from the client and then the client is off the hook. They ask the client to put up collateral. So in order for Trump to secure this bond, he would have had to set aside the full amount of the bond and say "If the verdict doesn't get reduced on appeal, I am giving you all this stuff, and not using it for anything else in the meantime".
All Trump is getting for that fee is not actually having to sell those assets now, and have any overage refunded if the appeal gets the verdict reduced. (Given the interest rates right now, the passive income on that kind of cash is not trivial).
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I suspect that trump life is over if he fails to win in November, he will either take it himself or it will be effectively over bc he will be in jail and penny less. To that end he does not care about consequences of some extra crimes in the near term.
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I'll believe it when it happens.
Last time he had one lined up but up until the last second said it was impossible. Likely to maximize donations from his rubes.
Re: Donations, I saw this today. So it may not be that easy (ha!!).
Behind Trump’s campaign cash crunch: Small-dollar donor fatigue, major donor hesitation
KEY POINTS
- Former President Donald Trump is facing two major fundraising problems: a shortage of big money interest and a drop in small-dollar donor support.
- The decline in small-dollar contributors could be a significant obstacle, as the former president seeks to cobble together a 2024 war chest.
- Small-dollar donors are critical to Trump’s ability to raise enough money to fund his presidential campaign.
(Letitia James, wearing her pearls and flipping her hair) "You best believe it."
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If you owe the bank half a billion dollars, it’s the bank’s problem right?
Sounds like the banks don’t want this problem.
Wait, how in the world could this have been a 5000-page filing? Is the entire text of War and Peace included 3 times in an appendix?
The point is to make the case difficult and time consuming, hoping to cause a delay. One common method I have seen is to print every email in an email chain. The efficient way would be to print the last email in a 30 reply long chain and have it make up about 5 pages of the filing. Instead of doing that though, you can print every email in the chain and turn it in to 50+ pages pretty easily. Trump does not want this case to be handled efficiently and having a 5000+ lage filing, full of repeated and unnecessary information is one way to make that happen.
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Maybe it included documents or correspondence from each of the 30 attempts? That would still be absurdly long at over 150 pages of documentation per attempt. But I could see them trying to make a point through the sheer volume of pages.
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I wouldn’t normally put this much stock in his assets actually getting flipped, but…
Someone or some company signed me up for Trump fundraising emails recently. The subject line of one from 2(?) days ago read: HANDS OFF TRUMP TOWER, so it sounds like they’re preparing some kind of mobilization/campaign to play the victim now that their options are quickly drying up.
I think I'd actually welcome that tactic from the Trump campaign. The base aren't going to change their mind no matter what they hear but I'd be willing to bet a good portion of swing voters will hear about Trump losing his tower and realize that hey, maybe he's actually not a great businessman. It makes him look weak when the only tactic that really works for him is the strongman one.
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it sounds like they’re preparing some kind of mobilization/campaign to play the victim now that their options are quickly drying up.
Not disagreeing with you, but just wanted to point out that's kind of their thing already.
Oh for sure, the spoiled child is ready for their tantrum du jour.
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“about 30 surety companies” have refused to accept assets
well yeah they're lending him money to pay off a court judgment against him for lying about what those assets are worth. I wouldn't lend someone money if their collateral was worth anywhere from 10%-1000% of what I lent them and there was no way for me to verify either. Besides, you know if he owes you money it's gonna be years and millions before you can recoup anything at all.
Remember he testified that he had that kind of liquidity several times. He is absolutely fucked.
Ok guys, i dont want to sound like a conspiricy theorist or anything, but sometimes i get a slight suspicion that he might be lying to make himself look better...
No waaay. Why would a guy with a gold toilette have an ego like that?
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...nearly 5,000-page filing...
Really? They generated more content than the entire Harry Potter series to say "He can't get the money."
Sounds like they're trying to get their own $464M out of the deal.
How is that even possible good lord? 5000 pages?
Odds are there are charts, graphs, and other items that are inconsequential to the overall argument. Also could include the full rejection letters.
Yeah I would guess its all of the submitted documents back and forth 30 times. Even just 150 pages each would net 5000 pages.
They’re gonna take some of his properties and find lots of other crimes in those closets.
You love to see it.
I would love to see Trump Tower rebranded to something like Barack Obama Tower, just to piss him off even more.
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If Trump hadn't riled up his supporters into storming Congress on Jan 6th and hadn't spurred the authorities into forensically investigating him, I wonder how far ahead he'd be of Biden.
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this post was submitted on 19 Mar 2024
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