teachercd Posted March 18 Share Posted March 18 33 minutes ago, knapplc said: The bond is to get immediate cash to pay the fine. It will take some time to sell any assets, since necessarily they will have to be quite large (like a golf resort) to cover that kind of fine. It's understandable that a billionaire wouldn't have that kind of liquid cash on hand. That would all be invested, in his case likely in property. The interesting question is how much of the assets that bear his name are actually owned by him, and how much are just leased or borrowed. I'm guessing his "empire" is a house of cards propped up by paperwork rather than actual ownership. He's basically playing Three Card Monte with banks. Ahhhhh got it! Okay, that makes sense. Thanks! 25 minutes ago, Guy Chamberlin said: Mods? Isn't this a TOS violation? Ha! I am gonna get a vacation for being mean to me. 1 1 Link to comment
knapplc Posted March 18 Share Posted March 18 6 minutes ago, teachercd said: I am gonna get a vacation for being mean to me. That's our job! Back to our friend the presidential candidate and his inability to pay what should be, for a billionaire, a manageable fine: It's entirely possible Orange Man Bad has been lying about the state of his finances. Which, coincidentally, is why he's facing a $355 million penalty (plus interest which is accruing daily). Link to comment
TGHusker Posted March 18 Author Share Posted March 18 14 minutes ago, knapplc said: That's our job! Back to our friend the presidential candidate and his inability to pay what should be, for a billionaire, a manageable fine: It's entirely possible Orange Man Bad has been lying about the state of his finances. Which, coincidentally, is why he's facing a $355 million penalty (plus interest which is accruing daily). Related to @knapplc's post is this bit of news in bold below: 30 surety companies approached and zero takers. The 2nd bold below states real estate cannot be used - which I guess makes sense. So Trump's boasted billion's in wealth was/is based on highly leverage real estate (using debt to finance his great 'empire"). This kind of wealth cannot be used to post his appeal bond. He's literally a paper tiger. His wealth is tied up in paper - loan papers which were fraudulent. https://finance.yahoo.com/news/1-trump-failed-appeal-bond-150739705.html Quote Donald Trump has so far been unable to obtain a bond that would allow him to appeal a $454 million judgment against the former U.S. president in a New York civil fraud case without posting the full amount himself, his lawyers said on Monday. Trump must either find the cash or post a bond to prevent the state's authorities from seizing his properties while he appeals Justice Arthur Engoron's Feb. 16 decision ordering him and co-defendants to pay $464 million in penalties and interest for misstating property values to dupe lenders and insurers. In a court filing on Monday, the Republican presidential candidate's lawyers urged a mid-level state appeals court to delay enforcement of the judgment, arguing the amount was excessive. They said the defendants had so far approached 30 surety companies through four separate brokers to obtain a bond. "Enforcing an impossible bond requirement as a condition of appeal would inflict manifest irreparable injury on Defendants," Trump's lawyers wrote. The lawyers asked that he instead be allowed to post a $100 million bond while he appeals the judgment. A bonding company would be on the hook for any payout if Trump loses his appeal and proves unable to pay. Trump's lawyers included a statement by Gary Giulietti, an executive with insurance brokerage the Lockton Companies, which Trump has hired to help get a bond. Quote Giulietti wrote that a bond for the full $464 million "is not possible under the circumstances presented," noting that many sureties would not issue bonds above $100 million and were willing to accept only cash or securities - not real estate- as collateral. Link to comment
TGHusker Posted March 18 Author Share Posted March 18 More to the above. There are interesting details in the bold: https://www.cnbc.com/2024/03/18/trump-cant-secure-454-million-appeal-bond-in-new-york-fraud-case-his-lawyers-say.html Quote The filing includes an affidavit from Gary Giulietti, president of the Northeast division of the Lockton Companies, which he describes as the largest privately held insurance brokerage firm in the world. Giulietti, who was hired to help the defendants to obtain a bond, in that statement wrote, “Despite scouring the market, we have been unsuccessful in our effort ... for the simple reason that obtaining an appeal bond for $464 million is a practical impossibility under the circumstances presented.” Only a handful of bond surety companies are approved by the Treasury Department to underwrite a bond that large, and many of those firms will only issue a single bond to a maximum of $100 million, Giulietti wrote. He also said that none of those companies will accept non-liquid assets — such as real estate — as collateral. “Simply put, a bond of this size is rarely, if ever, seen,” Giulietti wrote. “In the unusual circumstance that a bond of this size is issued, it is provided to the largest public companies in the world, not to individuals or privately held businesses.” The Trump Organization is privately held. Giulietti wrote that it would be unattainable for a private company to obtain a bond to secure the $464 million total judgment unless it had around $1 billion in cash or cash equivalents to offer as collateral, while still being able to satisfy its other business obligations. “While it is my understanding that the Trump Organization is in a strong liquidity position, it does not have $1 billion in cash or cash equivalents,” he wrote. Trump’s attorneys also noted in the filing that bond issuers often will demand collateral totaling 120% of the judgment, which equates to over $557 million. Those issuers are also likely to demand a two-year advance on a 2% annual bond premium, which would require the defendants to pay more than $18 million upfront, the lawyers wrote. The defendants had previously offered to post a $100 million bond to prevent James from collecting on the judgment while Trump appealed Engoron’s verdict. Link to comment
knapplc Posted March 18 Share Posted March 18 If nothing else, this helps remove the facade from Christians who would vote for this guy. 1 Link to comment
Scarlet Posted March 18 Share Posted March 18 Not that anyone needed any more dots to connect but Trump's possibly bringing Manafort back into the fold. Link to comment
TGHusker Posted March 18 Author Share Posted March 18 17 minutes ago, Scarlet said: Not that anyone needed any more dots to connect but Trump's possibly bringing Manafort back into the fold. Related: https://www.rawstory.com/donald-trump-national-security-risk/?cx_testId=6&cx_testVariant=cx_undefined&cx_artPos=2&cx_experienceId=EXC93HV4HK4I#cxrecs_s Quote Donald Trump's lawyers notified a New York court that he's not able to find an insurance company willing to underwrite his bond to cover his massive civil fraud judgment, and a Democratic congressman said that opened him up to foreign corruption. 1 Link to comment
TGHusker Posted March 18 Author Share Posted March 18 3 hours ago, knapplc said: If nothing else, this helps remove the facade from Christians who would vote for this guy. When he also says Mr and Mrs Wade (speaking of the Georgia DA and her boyfriend ) that the real Mrs Wade probably wasn't happy ... I guess he forgot his own wife regarding Stormy, regarding Carrol, regarding..... Link to comment
Guy Chamberlin Posted March 18 Share Posted March 18 3 hours ago, knapplc said: If nothing else, this helps remove the facade from Christians who would vote for this guy. It would be an even more derogatory insult in Great Britain or Australia. Link to comment
Danny Bateman Posted March 18 Share Posted March 18 4 hours ago, knapplc said: If nothing else, this helps remove the facade from Christians who would vote for this guy. Does it? I’m pretty sure if you gave them truth serum, wouldn’t most evangelical Trump supporters admit they understand what an amoral cretin he is and they simply don’t care? I mean I don’t interact with many of them but it seems to me most of them don’t mind his personal failings because they’re all in on the “instrument of God” narrative, as ludicrous as that is. I’m sure there are a few who are personally deluded enough to believe he’s a totally a devout, godly Christian. Seems the majority of them realize he isn’t but are willing to make a deal with the devil because he advances their causes and give him judges they like. Oh sweet irony. Link to comment
BigRedBuster Posted March 18 Share Posted March 18 4 minutes ago, Danny Bateman said: Does it? I’m pretty sure if you gave them truth serum, wouldn’t most evangelical Trump supporters admit they understand what an amoral cretin he is and they simply don’t care? I mean I don’t interact with many of them but it seems to me most of them don’t mind his personal failings because they’re all in on the “instrument of God” narrative, as ludicrous as that is. I’m sure there are a few who are personally deluded enough to believe he’s a totally a devout, godly Christian. Seems the majority of them realize he isn’t but are willing to make a deal with the devil because he advances their causes and give him judges they like. Oh sweet irony. They don’t give a crap about his personal trashy life. Link to comment
Archy1221 Posted March 18 Share Posted March 18 Bingo! And the media/Left falls for it every time. https://www.mediaite.com/tv/fox-host-says-trump-knows-theres-no-bad-publicity-and-drops-certain-words-to-ignite-media-firestorms/ 1 1 Link to comment
commando Posted March 19 Share Posted March 19 Hear me out: Mar-a-Lago reverse mortgage. 1 2 1 1 Link to comment
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