KEY POINTS
- Donald Trump should have pledged real estate to the courts if he were “truly unable” to secure a bond, the New York attorney general’s office said.
- Instead, Trump claimed it was “impossible” for him to get a bond using his properties, but did not provide any hard evidence for this, the AG’s office said.
Donald Trump should have pledged real estate he owns as collateral against a $464 million business fraud judgment if he were “truly unable” to secure an appeal bond for that amount, the New York attorney general’s office said in a court filing Wednesday.
Trump also failed to provide evidence supporting his claim this week that it was “impossible” to obtain an appeal bond by using the properties as collateral, a lawyer for AG Letitia James wrote.
“Defendants supply no documentary evidence that demonstrates precisely what real property they offered” to potential insurers," wrote Dennis Fan, senior solicitor general in the AG’s office, in the filing to Manhattan appeals court judges.
Nor did they report “on what terms that property was offered, or precisely why” bond insurers “were unwilling to accept the assets.”
Here’s the thing: Trump may have the right to appeal, but he doesn’t have the right to be able to afford the bond. And he if he can’t, there’s no damned reason for the court to give a shit, especially if he refuses to give any solid explanation as to why he both claim to be a “billionaire” while at the same time pleading poverty.
So, Donnie, pay the bond or the state gets to take your shit. End of story.
It’s really a catch 22 for him so he’s trying any and everything. He knows it will destroy him when he has to pay this. His empire is a hollow shell leveraged to the tits.
If when the state starts selling these properties they’re gonna have to sell them all and even then it won’t be enough so he’ll have any trump org royalties garnished too until kingdom come.
His only hope is to somehow delay until he’s president again (FML)
There’s pretty much zero possibility of that happening. And, for the record, there’s also almost no possibility of him winning this appeal, either.
especially if he refuses to give any solid explanation as to why he both claim to be a “billionaire” while at the same time pleading poverty.
He’s not claiming poverty, he’s claiming that he will win on appeal, but his wealth is all locked up in real estate, and to make the bond in time he would have to quickly sell a lot of assets, and would likely get taken advantage of while doing so.
It doesnt matter and it doesn’t fit trumps typical braggadocios speech, which is why I have no idea why this constantly get misinterpreted.
It’s even more likely that his ownership stake in the real estate holdings has been mortgaged to the hilt and he actually doesn’t have any capital available at all. The most likely reality is that he’s going to have to declare bankruptcy, and is terrified of the public finding out.
It was also testified in a deposition (or similar that would be perjury for lying, maybe not by Trump I can’t recall) that he (or Trump org?) had 400million liquidity, so it shouldn’t be that big of an issue for him to come up with it. Even if he had to deal with the defamation bond. So he (or his lackey) told the courts that they could cover it, I mean a real estate billionaire down 100million should be able to come up with 150million (sorry if math is off, liquidity - defamation bond - tax-fraud bond difference) from non liquid assets without too much work right? I’m sure some bond company would cover it with proper collateral anyways. Hah. These are the chickens coming to roost you orange turd.
That $400 million is, apparently, “operating capital” intended to keep all of his business ventures working, and, without it, everything would cease to function. Which is plausible.
But who really gives a fuck? Certainly not the courts, nor should they. Also, he may not even have that left after getting that ~$90m bond for the E Jean Carrol case (another reason this judge isn’t listening to Trump’s cries for mercy). That bond probably cost twice that after all the fees.
He’s so superfucked.
Yeah I’m not speaking to what the truth of the matter, only what he’s claiming. It would be surprising to me that he has nowhere to go for the money, as you say.
It’s just mind numbing to come into every one of these threads and see this nearly exact misinterpretation of what he is saying.
Well, one thing plays into the other— he can’t get a bond because he’d have to put up collateral, and all of these bond companies know he’s up to his cotton-candy bouffant in debt, so all of his properties probably aren’t worth shit, or, at least not worth anything close to what he claims. After all, he was just found liable in this very case for lying for years about that very thing.
How everyone is missing the giant, Raiders of the Lost Ark-style boulder of irony about to crush Trump is what perplexes me.
I can quickly come up with some reasons why they might not want to put up the collateral that have nothing to do with his actual finances: like public backlash, being notorious for not paying back his debts, and being convicted of lying about how much stuff is worth (so not trustworthy in that regard).
It’s just none of this has anything to do with what he’s actually saying. Which is ultimately my point.
And we are both sitting here with our popcorn anxiously awaiting it to all come crashing down. It can’t happen soon enough, IMO.
Those are all other possibilities, I just don’t find them as likely IMO. But they could be. But, either way, my point is that - and I was more explicit about it in another comment - it doesn’t matter what he says, especially to the court. He has the right to appeal and the right to post a bond, but Trump has no right to be able to afford a bond, and if he can’t, tough shit.
And he’s got 4 1/2 days to beg, borrow, or steal it before the People of the State of New York come after his grifting ass.
I bet Nikki is excited.
I honestly don’t think it MATTERS anymore. He could go on and tell the camera, dead on, that “I lied about every last bit of money I own, I lied about how I made that money, I lied about every single thing I ever said.” His cult has a momentum of its own now, it’s arguably far beyond his control - even if he did manage to go up and read off every single lie and WHY it’s a lie, it wouldn’t matter, because his followers would just go “well he was FORCED to say that” or somesuch and that reality would be accepted as gospel. Cults, especially cults of personality, have a nasty habit of gathering momentum far exceeding the object of worship.
If he has equity why couldn’t he mortgage it?
Frankly, if I were a mortgage lender, I might be a little hesitant to lend to a guy who is in trouble because he was defrauding real estate lenders.
It’s also notable that this law was meant to apply to organizations rather than individuals, who would presumably have the resources to put up the bond. This is the first time that a private individual did something big enough to get caught up in this.
Out of the whole shitstorm surrounding orange man rn, this is the one I pin my hopes on to bring him to his knees first. 🤞
It really has the possibility to not only hobble his campaign and his ego, but to also mentally unbalance him even further since he’s built his entire personality around being rich. He’s almost certainly in a situation where he will end up having to declare bankruptcy
Declare bankruptcy again*
This is different.
Trump’s companies have declared corporate bankruptcy, which gave them time to restructure.
But corporate bankruptcy won’t work this time, because Trump is personally on the hook. So he would have to declare personal bankruptcy.
And that’s a whole different process, where creditors get in line to take your belongings. Alex Jones and Rudy Giuliani are going through it, and Trump definitely does not want to.
The sooner the amphetamines give him that stroke, the better it is for the nation.
Eh, aI think it’s far better for the nation for him to lose than to die before that happens.
Truth and well said.
Fingers crossed 🤞
I don’t drink, but I’ll pop champagne on that day.
I would break my 4 years of sobriety to celebrate that.
Congratulations on your sobriety
The only way to really hurt rich fucks is to fuck with their money.
This is painful to trump in ways that normies like us simply can’t understand.
It has the potential to bankrupt the rnc once he gets lara to give him all that rnc cash
And even this won’t save him because rnc doesn’t have that kind of money.
But let’s go ahead and let them spend all they have to be safe. :D
Every little helps!
All I can picture is him on the podium telling his followers how smart declaring bankruptcy is. Then seeing a huge wave of Donnie’s dumbest fille for bankruptcies across the nation.
Bankruptcies come in 7s
Would be hilarious if they confiscated and evicted him from Mar-a-Lago.
This is the only one he cares about. His identity is about to disintegrate.
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He can’t get a bond against his properties because he’s over leveraged up the wazzooo on all of them.
That’s his whole financial shtick, he gets loans against his properties until they come calling for him to repay, then gets more loans somewhere else to pay of the old loans.
That worked for him for the longest time until western banks got wise of this (either because he stiffed them or because he’s still paying of his loans with them) and the only places he could lend from to repay the Western banks are questionable money sources.
So now he’s in debt with everyone from legit banks to dark money sources and can’t get anyone anywhere to lend him any more, especially not half a billion.
We can only hope a bunch of them start defaulting him on his loans and confiscating his properties, so that that whole house of cards starts crumbling down.
Well, it looks like the People of the State of New York are gonna be the first to the trough. Fuck those Russian gangster pricks and billionaire bankers alike. Let them eat ash.
Not that I don’t believe you, but do you have links for the dark money bit? I realize they may not exist.
Hope he defaults on his loan to a cartel or something.
His son, the dumb one, said they get all the money they need for funding out of Russia. Who do you think orchestrates that funding?
Yeah, that seems like the mostly likely route to him actually experiencing consequences.
He’s about to be grabbed by the real estate portfolio. Ouch.
Since he’s a crook, he lets them do it!
I’m going to keep posting this until I get sick of reveling in Trump’s legal troubles actual starting to have some consequences
Schadenfreude
4 1/2 more days
I hope to god he looses everything but the gold toilet cause his shit needs to be contained.
only total morons believe anything that comes out of that mouth
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