Trump unable to finance an appeal bond

[pixy0stix]

Something is weird. I wonder if he can't get the money fast enough to post the bond - thehill.com/regulation/court-battles/4550358-trump-truth-social-windfall-bond-fraud-case/

[elleblue]

Mar 22, 2024 15:32:28 GMT -5 pixy0stix said:

Something is weird. I wonder if he can't get the money fast enough to post the bond - thehill.com/regulation/court-battles/4550358-trump-truth-social-windfall-bond-fraud-case/

The stock of the other company immediately tanked, so maybe he's trying to calm investors?

The timing of all of this stinks to high heaven but he's gotten away with creative "accounting" his whole life so I don't know why I thought he'd finally have to face some consequences.

[lilac05]

Mar 22, 2024 15:32:28 GMT -5 pixy0stix said:

Something is weird. I wonder if he can't get the money fast enough to post the bond - thehill.com/regulation/court-battles/4550358-trump-truth-social-windfall-bond-fraud-case/

It says “not necessarily” spending the money that way. His quote also seems like posturing. “Noooo….I didn’t sell it because I needed to! I just sold it because I WANTED to. I still haven’t decided how I’ll spend the money. I’m a successful businessman who created this and turned it into an empire and then got out to focus on other things.”

[pixy0stix]

Mar 22, 2024 16:11:48 GMT -5 elleblue said:

Mar 22, 2024 15:32:28 GMT -5 pixy0stix said:

Something is weird. I wonder if he can't get the money fast enough to post the bond - thehill.com/regulation/court-battles/4550358-trump-truth-social-windfall-bond-fraud-case/

The stock of the other company immediately tanked, so maybe he's trying to calm investors?

The timing of all of this stinks to high heaven but he's gotten away with creative "accounting" his whole life so I don't know why I thought he'd finally have to face some consequences.

I wondered if that was going to happen. None of this deal seems like a smart decision for anyone with any sort of business sense.

[BlondeSpiders]

He can't even sell his own shares for 6 months, so this is an odd long game.

[noodleoo]

Mar 22, 2024 17:02:26 GMT -5 BlondeSpiders said:

He can't even sell his own shares for 6 months, so this is an odd long game.

I don’t think this is true. I read an analysis of the deal today and it says he can change the rules to allow him to sell the shares after the sale. 

The whole thing is so fucking depressing. I thought he might finally face consequences but he’ll probably weasel out again and the stock will tank afterwards and others will be screwed but he’ll survive like the cockroach he is. 

[BlondeSpiders]

Mar 22, 2024 17:38:30 GMT -5 noodleoo said:

Mar 22, 2024 17:02:26 GMT -5 BlondeSpiders said:

He can't even sell his own shares for 6 months, so this is an odd long game.

I don’t think this is true. I read an analysis of the deal today and it says he can change the rules to allow him to sell the shares after the sale. 

The whole thing is so fucking depressing. I thought he might finally face consequences but he’ll probably weasel out again and the stock will tank afterwards and others will be screwed but he’ll survive like the cockroach he is. 

[pixy0stix]

I wondered why this deal was happening as it just seemed like throwing money away to buy the company. (Gift link)

Big Republican Donor Jeff Yass Owned Shares in Trump Media Merger Partner www.nytimes.com/2024/03/24/business/jeff-yass-shares-trump-media-merger.html?unlocked_article_code=1.fU0.nuKo.ALZ8Yn_gV86H&ugrp=c

[pixy0stix]

Fucking hell, they gave him more time.

apnews.com/article/trump-civil-fraud-case-verdict-penalty-appeal-8447c48d0436083737204b13401438d2

Court agrees to block collection of Trump's massive civil fraud judgment if he puts up $175M

[BlondeSpiders]

Ok, forget my face, my entire body is on fire. Fucking Teflon Don.

[UMaineTeach]

Is the remaining bond delayed or forgiven?

Why does this asshole always win?

[pixy0stix]

Mar 25, 2024 14:43:42 GMT -5 UMaineTeach said:

Is the remaining bond delayed or forgiven?

Why does this asshole always win?

If he puts up this new smaller bond the judgement will be delayed for appeal.

[AAM2012]

But can he even get that amount outside of help from Russia?

[basilosaurus]

Mar 25, 2024 11:14:52 GMT -5 pixy0stix said:

Fucking hell, they gave him more time.

apnews.com/article/trump-civil-fraud-case-verdict-penalty-appeal-8447c48d0436083737204b13401438d2

Court agrees to block collection of Trump's massive civil fraud judgment if he puts up $175M

And his stock price rose as a result by more than how much it had tanked. I'm sure none of us would be surprised if there's something rotten here.

[pixy0stix]

He's posted the lesser bond.

sigh...

[icedcoffee]

I'm so mad he was able to post bond. I hope Knight Specialty Insurance rots in hell.

[neverfstop]

Apr 2, 2024 9:31:44 GMT -5 icedcoffee said:

I'm so mad he was able to post bond. I hope Knight Specialty Insurance rots in hell.

I hope he screws them over like he does everybody else he does business with...I'm sure they will lose many either way....through his bond directly or in some litigation related to doing business with him when he sues them or doesn't pay them the money he owes them.

[basilosaurus]

Maybe not so fast on that bond. Everyone in his orbit is so incompetent.

www.cbsnews.com/minnesota/news/donald-trump-175-million-civil-fraud-bond-valid-new-york/

[icedcoffee]

This brings me great joy. LOL

[pixy0stix]

How much do you want to bet that Trump supplied no cash as collateral?

[livinitup]

Apr 4, 2024 19:23:59 GMT -5 pixy0stix said:

How much do you want to bet that Trump supplied no cash as collateral?

He didn’t. Trump said he had the $175K in a bank account and put (I kid you not)) access to the bank account up as collateral.

CBS news said that the bond is missing standard elements like a power of attorney for the bond company, a financial statement from the company and a certificate of qualification from the Department of Financial Services.

Letitia James filed against it and said the bond was issued by a company that is not an admitted carrier in NY and lacks the certificate of qualification required by New York Insurance Law Section 1111.

They have ANOTHER 10 days for the bond company to prove they can pay the bond and get the certifications.

MF’er. <- mine

ETA : And to be clear - The reason why ALL THIS is important is because when Trump looses his appeal and fails to pay his judgement the BOND will be worthless because the company that put up the bond will not have the capital to PAY the bond or the insurance to pay the bond. It will be tied up in legal finger pointing for years ad nauseam. These MF’er are PLANNING their default on the judgment

[underwaterrhymes]

I’m so embarrassed I watched The Apprentice. JFC.

[pixy0stix]

Apr 4, 2024 20:53:02 GMT -5 livinitup said:

Apr 4, 2024 19:23:59 GMT -5 pixy0stix said:

How much do you want to bet that Trump supplied no cash as collateral?

He didn’t. Trump said he had the $175K in a bank account and put (I kid you not)) access to the bank account up as collateral.

I understood the article.

I'm saying that there probably isn't even a bank account. That the Trumper board director said "write the bond" so they wrote the bond without ANY access to collateral.

[icedcoffee]

Anyone who does any business with Trump deserves to be bankrupt. Jesus.

[pixy0stix]

ProPublica is reporting that Trump could have had the full amount bonded and his lawyers lied about not being able to get the full amount - www.propublica.org/article/trump-bond-disclosure-appeals-court-hankey

[pixy0stix]

What even is happening right now?

www.reuters.com/legal/businessman-behind-trumps-ny-bond-says-he-charged-him-low-fee-2024-04-05/

[basilosaurus]

Apr 5, 2024 21:04:46 GMT -5 pixy0stix said:

What even is happening right now?

www.reuters.com/legal/businessman-behind-trumps-ny-bond-says-he-charged-him-low-fee-2024-04-05/

lol he is claiming he did this for business and considered it low risk. Lending trump money is never lose risk. If dinner lend it to anyone I bump into on the street

[basilosaurus]

www.businessinsider.com/trump-saved-millions-civil-fraud-bond-secret-billionaire-offer-report-2024-4?amp

He possibly had an offer for the full amount from the same guy who bombed for the lower number by using real estate as collateral