Trump unable to finance an appeal bond

[BlondeSpiders]

gift link: wapo.st/3VsNrkl 

NEW YORK — Donald Trump has been unable to finance an appeal bond for at least $450 million to cover a judgment in the New York attorney general’s business fraud case against him and is seeking a reprieve from an appellate court to keep the state from seizing assets, according to a court filing Monday.



The former president’s lawyers said in the filing that Trump and the Trump Organization, the real estate hospitality and golf resort company he solely owns, have been unable to get a surety company, an insurer that issues court bonds, to accept property as collateral — stalling any efforts to obtain a bond that is due to be posted in a week.



“Critical among these challenges is not just the inability and reluctance of the vast majority of sureties to underwrite a bond for this unprecedented sum, but, even more significantly, the unwillingness of every surety bond provider approached by Defendants to accept real estate as collateral,” Alan Garten, the Trump company’s general counsel, wrote in a sworn submission.


My favorite part:

Garten said Trump and the company approached 30 surety companies through four brokers, proposing combinations of liquid and real estate assets, without success. None of them were willing to accept real estate collateral for appeal bonds, he said.

Gosh, it's almost like no one believes that his properties are worth what he says they are. Could it have something to do with a recent legal decision? No, it has to be a politically motivated witch hunt.

[thejen626]

😇🤣👏🏼👏🏼

[pixy0stix]

Mar 18, 2024 15:26:33 GMT -5 kellady said:

So how long can he drag this out on appeals?  Will Russia come through with the money?  Can the state decide which assets to take first?  The WaPo comments are funny, and I agree that the plane should go first.  

Not too much longer. An appeal without the bond was denied already.

[Susie]

Rachel Maddow was recently discussing the fact that someone with the kind of debt and financial need that Trump has, would never in a million years be able to get a security clearance, because the risk of him selling national secrets for $$$$$ is too high.  At the same time, as a major party nominee, he traditionally would start receiving to classified intelligence briefings very soon.

It's honestly pretty terrifying to think about.

[redheadbaker]

[Michelle]

Mar 18, 2024 15:49:32 GMT -5 Susie said:

Rachel Maddow was recently discussing the fact that someone with the kind of debt and financial need that Trump has, would never in a million years be able to get a security clearance, because the risk of him selling national secrets for $$$$$ is too high.  At the same time, as a major party nominee, he traditionally would start receiving to classified intelligence briefings very soon.

It's honestly pretty terrifying to think about.

This was one of my chief arguments about him in 2016. He was in debt to Deutsche Bank for millions, and Deutsche Bank was sanctioned by the U.S. government for shady business with Russia. www.newyorker.com/magazine/2016/08/29/deutsche-banks-10-billion-scandal

No one listens to michellebelle. (said in Jan Brady tone).

Editing to add - more after the 2016 election:

www.newsweek.com/2017/12/29/donald-trump-russia-secret-deutsche-bank-753780.html

www.theguardian.com/us-news/2017/feb/16/deutsche-bank-examined-trump-account-for-russia-links

foreignpolicy.com/2018/12/21/how-russian-money-helped-save-trumps-business/

[Nugget T. Brain, The OG]

Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhahahahahahahahaha SUCK IT MANGO MUSSOLINI.

[cap]

This made my Monday.

[mcsangel2]

Mar 18, 2024 15:26:33 GMT -5 kellady said:

So how long can he drag this out on appeals?  Will Russia come through with the money?  Can the state decide which assets to take first?  The WaPo comments are funny, and I agree that the plane should go first.  

It's illegal for candidates for office to receive money from foreign entities, even for personal use, once the paperwork for running has been filed.

[AAM2012]

[pixy0stix]

Mar 18, 2024 18:22:43 GMT -5 mcsangel2 said:

Mar 18, 2024 15:26:33 GMT -5 kellady said:

So how long can he drag this out on appeals?  Will Russia come through with the money?  Can the state decide which assets to take first?  The WaPo comments are funny, and I agree that the plane should go first.  

It's illegal for candidates for office to receive money from foreign entities, even for personal use, once the paperwork for running has been filed.

When has this stopped him? He took millions from foreign entities while in office.

[heygrey]

Mar 18, 2024 18:22:43 GMT -5 mcsangel2 said:

Mar 18, 2024 15:26:33 GMT -5 kellady said:

So how long can he drag this out on appeals?  Will Russia come through with the money?  Can the state decide which assets to take first?  The WaPo comments are funny, and I agree that the plane should go first.  

It's illegal...

When has that stopped him from doing anything?

[Pom]

Manafort is back and getting Trump hooked up, I’m sure. Curious that Jared isn’t helping his favorite FIL.

[livinitup]

Mar 18, 2024 20:54:28 GMT -5 Pom said:

Manafort is back and getting Trump hooked up, I’m sure. Curious that Jared isn’t helping his favorite FIL.

Jared is a lot of things, stupid isn’t one of them. I heard Ivanka isn’t taking her daddy’s call. Like father, like daughter. “Donald, who? Never heard of the guy.”

[livinitup]

Mar 18, 2024 20:38:36 GMT -5 heygrey said:

Mar 18, 2024 18:22:43 GMT -5 mcsangel2 said:

It's illegal...

When has that stopped him from doing anything?

I can imagine that you can’t pay the bond by walking into court with suitcases full of Rubles. A legit paper trail of where the money originated is really limiting his options. For once.

[basilosaurus]

Mar 18, 2024 19:51:38 GMT -5 pixy0stix said:

Mar 18, 2024 18:22:43 GMT -5 mcsangel2 said:

It's illegal for candidates for office to receive money from foreign entities, even for personal use, once the paperwork for running has been filed.

When has this stopped him? He took millions from foreign entities while in office.

And don't forget Kushner who kept on as a "senior advisor" while not having clearance and then getting 2B from the saudis almost immediately after.

Laws and norms mean nothing to these assholes.

[chickadee77]

Mar 18, 2024 16:58:41 GMT -5 Michelle said:

Mar 18, 2024 15:49:32 GMT -5 Susie said:

Rachel Maddow was recently discussing the fact that someone with the kind of debt and financial need that Trump has, would never in a million years be able to get a security clearance, because the risk of him selling national secrets for $$$$$ is too high.  At the same time, as a major party nominee, he traditionally would start receiving to classified intelligence briefings very soon.

It's honestly pretty terrifying to think about.

This was one of my chief arguments about him in 2016. He was in debt to Deutsche Bank for millions, and Deutsche Bank was sanctioned by the U.S. government for shady business with Russia. www.newyorker.com/magazine/2016/08/29/deutsche-banks-10-billion-scandal

No one listens to michellebelle. (said in Jan Brady tone).

Editing to add - more after the 2016 election:

www.newsweek.com/2017/12/29/donald-trump-russia-secret-deutsche-bank-753780.html

www.theguardian.com/us-news/2017/feb/16/deutsche-bank-examined-trump-account-for-russia-links

foreignpolicy.com/2018/12/21/how-russian-money-helped-save-trumps-business/

I actually remember this issue from what seems like a thousand years (and scandals) ago.

And yeah, no one's gonna give him a bond. He sorta has a rep of not paying his debts, y'know. They won't touch him with a ten-foot pole lol.

[heygrey]

Mar 18, 2024 22:31:00 GMT -5 livinitup said:

Mar 18, 2024 20:38:36 GMT -5 heygrey said:

When has that stopped him from doing anything?

I can imagine that you can’t pay the bond by walking into court with suitcases full of Rubles. A legit paper trail of where the money originated is really limiting his options. For once.

I sincerely hope that this finally brings justice. I just don't hold out a lot of hope that laws actually stop him from doing what he wants to do. 

[pixy0stix]

The poor pitiful me act is a bit much.

www.reuters.com/world/us/trump-says-he-could-have-sell-assets-cover-454-million-fraud-judgment-2024-03-19/

Oh noes! He's going to have to sell property!

[mrsd2006]

Mar 19, 2024 12:37:18 GMT -5 pixy0stix said:

The poor pitiful me act is a bit much.

www.reuters.com/world/us/trump-says-he-could-have-sell-assets-cover-454-million-fraud-judgment-2024-03-19/

Oh noes! He's going to have to sell property!

Maybe this will be what finally causes him to stroke out from rage and die on his golden toilet.

[Nonny]

ULPT is a pretty trashy subreddit, but this post came across my feed, and the comments are funny. The mods deleted the text of the post, probably because it violated the no politics rule, but I recovered it so you can see the full "question."

ULPT: I told the government I was a billionaire and now I owe them 500 million dollars and I dont have it. How can I get out of it?
As the title says. I was recently on trial for some light fraud. Nothing serious. Just run of the mill stuff. I told a judge under penalty of perjury I had hundreds of millions of dollars in cash. But I just said that to look cool. He ended up fining me just about exactly that. Now I might be broke if I dont come up with the cash soon. What can I do to quickly make 500 million dollars? I'm not willing to sell my stuff.

[mrsd2006]

Nonny, the way Reddit will take something and run with it is unlike anything I've ever seen.

[cous0226]

CNN is reporting he’s in panic mode. The AG can start seizing his properties if he doesn’t come up with it. Wow!!!!!

[UMaineTeach]

I hear the Mega Millions is up to $977 million. Maybe he needs a ticket.

[neverfstop]

Doesn't Jared have an extra billion laying around from the Saudis?

[basilosaurus]

Mar 20, 2024 20:02:36 GMT -5 neverfstop said:

Doesn't Jared have an extra billion laying around from the Saudis?

2B, but what's another 1 or 2 among in laws.

And he'll have even more once he turns Gaza into luxury waterfront resort hotels.

[neverfstop]

Per CNN www.cnn.com/2024/03/21/politics/trump-calls-ny-attorney-generals-bond-suggestions-impractical-and-unjust/index.html

The New York attorney general’s office has filed judgments in Westchester County, the first indication that the state is preparing to try to seize Donald Trump’s golf course and private estate north of Manhattan, known as Seven Springs.

[basilosaurus]

Mar 21, 2024 12:48:00 GMT -5 neverfstop said:

Per CNN www.cnn.com/2024/03/21/politics/trump-calls-ny-attorney-generals-bond-suggestions-impractical-and-unjust/index.html

The New York attorney general’s office has filed judgments in Westchester County, the first indication that the state is preparing to try to seize Donald Trump’s golf course and private estate north of Manhattan, known as Seven Springs.

pleaseohpleaseohplease

His entire identity is based on his assets. He's already completely unhinged, but this would send him into a realm we've never witnessed. I would not in the least be surprised if he sent his magats to defend his property.  I don't want a waco, but I wouldn't mind watching how stupid they look with their pickups against swat tanks

[cous0226]

This is so dramatic. I can’t wait till Monday.

CNN is saying he may take Truth Social public to make money.

[sent]

Mar 21, 2024 20:14:47 GMT -5 cous0226 said:

CNN is saying he may take Truth Social public to make money.

This is happening.

I don't understand this world of money where the thing of value has a sinking value but is somehow worth billions?

I should've paid more attention in Econ back in high school.