I think it really depends on the level of corruption here. If this is a normal transaction then he almost certainly had to put up significant assets as collateral. If this is a bet by the bond company that favorable treatment from the president is worth $80 million then maybe not.Turns out even rich people can be chumps.
According to Forbes, DJT's net worth is just over $2B. So he's got plenty of RE collateral to pledge to the bonding company. I don't know why some people have claimed only those willing to lose $500M in exchange for future political favors would lie down with Trump. Such favors are essentially nil if he loses in November.Apparently Chubb underwrote the bond. Its unlikely they did so without substantial verifiable collateral.
According to Forbes, DJT's net worth is just over $2B. So he's got plenty of RE collateral to pledge to the bonding company. I don't know why some people have claimed only those willing to lose $500M in exchange for future political favors would lie down with Trump. Such favors are essentially nil if he loses in November.
Now we know how Trump is with debt, so I'm not saying it's a good idea for Chubb or anyone else. But their lawyers have no doubt looked at this very closely and must feel the lucrative fee is worth it.
Chubb, the insurance broker providing the bond, is on the hook for paying up to the $92 million if Trump loses the appeal, what we don't know is if Chubb got any collateral from Trump for repayment (presumably! or the CEO is going to be looking for a new job), nor the amount of the non-refundable fee Trump paid to get the bond (likely at least 1-2% fee, even given an insane-MAGA friend discount backed by hard collateral)Good. Watch the bond holder get fucked when he loses his appeal. Presumably they had to post significant collateral.
According to a Forbes article from yesterday, he's way more leveraged than I thought. So we know and understand why winning the presidency is such an existential concern for both DJT and the Trump Org.There are a lot of variables here that we can't see like what amount of his assets are already leveraged and can't be for the purposes of securing bond.
In May 2021, JPMorgan Chase helped Vornado and Trump secure a $1.2 billion, variable-rate loan, allowing them to extract more than $600 million out of the building. But inflation was already creeping upwards. So Steven Roth, the CEO of Vornado, protected his firm by executing a three-year swap, replacing the variable rate on his firm’s $840 million portion of the loan with a fixed 2.26% rate. Trump, however, didn’t, allowing the interest expenses to fluctuate on his $360 million share. As of May 2023, he was contending with an estimated 5.93% rate at the property, putting him on track to hand over $21 million of annual interest expenses–$13 million more than he would have if he had followed Roth’s lead.
Once he (hopefully) loses his appeal, he will sppeal it to his Supreme Court...which, as we sll know, is just another "Donald J. Trump Enterprise."Now how much time did he buy himself for this appeal? 2 or 3 months? And once he loses, he’ll have no choice but to fork over the cash.
You never know for sure with this court but it would be a truly incredible act of Calvinball and judicial power grabbing for SCOTUS to seize control of a state's application of state laws without any federal conflict.Once he (hopefully) loses his appeal, he will sppeal it to his Supreme Court...which, as we sll know, is just another "Donald J. Trump Enterprise."
Is the Real GOP in the room with you now?I have a feeling the GOP overlords want Trump and his cult gone.
Is the Real GOP in the room with you now?
I think they would prefer him gone but not at the expense of electing Democrats.The big money, including the Kochs, tried to finance his adversaries.
No, they're not in the room with me. They're too busy buying politicians.
i hope she cleans house and asks for at least $1B.Odds Trump sooner or later ends up in court again for defaming her close to 100%. You'd think a 100M tab would be enough of a lesson but he's a slow learner.
:to the tune of Dory's "just keep swimming": 🎵Just keeps digging, just keep diggingOdds Trump sooner or later ends up in court again for defaming her close to 100%. You'd think a 100M tab would be enough of a lesson but he's a slow learner.
Odds Trump sooner or later ends up in court again for defaming her close to 100%. You'd think a 100M tab would be enough of a lesson but he's a slow learner.
So does this mean that he didn't enrich himself during his Presidency? If he did where did all that money go?According to a Forbes article from yesterday, he's way more leveraged than I thought. So we know and understand why winning the presidency is such an existential concern for both DJT and the Trump Org.
One of his plum holdings, a 30% share of 555 California in SF's FiDi is already mortgaged to the hilt it seems:
Yea, I posted about this in the Bat Shit Crazy thread. He is really close to cracking. He obviously, has no self control, so I expect him to become completely unbound once the failure to raise the half billion bond goes south. It will beOdds Trump sooner or later ends up in court again for defaming her close to 100%. You'd think a 100M tab would be enough of a lesson but he's a slow learner.
The evidence shows that he's a bad businessman. The NYT reported that his dad basically dodged estate taxes by transferring vast RE holdings to his children, including Donald. Trump's businesses have filed for bankruptcy 6 times, refused to pay numerous subcontractors, and paid very little in federal income taxes over a twenty year period. U.S. capitalism is extremely friendly to millionaires and billionaires; successful RE moguls do not need to cheat the government and other private citizens to get theirs.So does this mean that he didn't enrich himself during his Presidency? If he did where did all that money go?
I think it really depends on the level of corruption here. If this is a normal transaction then he almost certainly had to put up significant assets as collateral. If this is a bet by the bond company that favorable treatment from the president is worth $80 million then maybe not.
It's pretty amusing that the judgment is fundamentally about Trump claiming money/wealth he didn't have and then when forced to come up with the money he can't. So basically admitting NYS was right.Trump unable to secure a bond to cover the civil fraud judgement.
He absolutely could get a bond - he would just has to back it with cash, which he doesn't have. "Potential underwriters are seeking cash to back the bond, not properties, according to Trump’s lawyers."Trump unable to secure a bond to cover the civil fraud judgement.
It's pretty amusing that the judgment is fundamentally about Trump claiming money/wealth he didn't have and then when forced to come up with the money he can't. So basically admitting NYS was right.