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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump's plea with the court that he can't post bond is B.S.
He did the same thing with the Carroll decision. Then, magically, the day it was due the bond was posted. He’s playing the victim and playing the media.
This is the guy who just enlisted Manafort, convicted Russian agent, to his campaign. This is the guy who gave Kashobi over to the Saudis’s and his son-in-law got $2b from them. This is the guy that Russia, and maybe China, certainly N. Korea, wants to be the next President of the US.
Trump will, I have no doubt, cough up the money by the deadline next Monday. Meanwhile, the media will be talking about this until he does.
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Scrivener7
(59,754 posts)AND the media is not talking about Joe's age.
no_hypocrisy
(55,054 posts)he’ll lose both appeals or have the judgments neglibly reduced.
He’ll still have to pay.
And these are civil cases where he can’t make them go away.
snowybirdie
(6,713 posts)Rachel Marrow tied to this plea to again wanting to bring Mandafort back into his campaign. Paul, the darling of Putin and his pals who have plenty of money. Hmmmmm?
2naSalit
(103,209 posts)How much the oligarchs will cough up this time given all the sanctions on their $$. There are a lot of yachts in the impound catalogue these days.
underpants
(196,802 posts)I just don’t know how that sun gets moved without anyone knowing it. Other than cash being delivered to a bond issuer, it has to be deposited somewhere.
Happy Hoosier
(9,553 posts)The best he can do, I think, is a composite bond that totals up to the total bond amount, which the court might or might not accept. No single surerity agent will have more than a half-billion in liquid assets to satisfy a single claim.... that waould put them at a huge risk. That's why they are insisting upon liquid assets as collateral. They don't want to have to sell property to recover their almost sure loss.
There is a massive difference between $90 million and over $500 million.
underpants
(196,802 posts)If “loan” isn’t the right term forgive me.
Accounting wise, property is the value less whatever’s owned on it. As you said, a potential bond issuer doesn’t want to have to go through the (expensive) process of selling property and anything put up as collateral has to be assessed by the equity left in it. Basic accounting Assets - Liabilities = Owners Equity. I have a degree.
Anyway there’s always 📞
Happy Hoosier
(9,553 posts)but I did stay at a Holiday Inn Express last night? Errr.... I did a lot of intrnet research.
AFAIK, the Bond issuer must be able to pay the value of the Bond immediately. In other words, they need to have liquid assets on-hand to satisfy the bond. How they get that money is up to them, but usually the premium on the bond is pretty small (like 2%), so borrowing the money is pretty much a financial loser. They usually have cash-on-hand in liquid assets that's earning interest to cover some percentage of potential liabilities. A bond of $500+ million would stretch any issuer's cash-on-hand. That's why the potential bond issuers were saying they would not accept property as collateral. First, Trump has an adjuticated habit of lying about the value of real property, and second, it take time to sell property. They don't want that exposure. They want collateralized assets they can sell instantly. I have a feeling Trump doesn't even HAVE liquid assets in that amount. It'll all be in property that is levereaged to the hilt.
underpants
(196,802 posts)As I understood it many of loans are tied to the prime so the increases by the Fed have him more leveraged.
MSNBC had a report this morning that his licensure business dried up while in office. That was his main cash flow.
markpkessinger
(8,924 posts). . . The bond in the E. Jean Carroll case was $91 million -- less than 1/5 of the bond he now has to post in the New York civil fraud case. Any bank or bond agency that might be asked to underwrite the latter bond would be looking at the prior bond, as well as his other indebtedness, in determining whether they are willing to risk a half billion dollar bond.
I think what is more likely BS is his claim to be a billionaire in the first place!
TBF
(36,844 posts)I think it was a signal that he's looking for help. He may or may not have as much money as he claims - or at least a good amount put away in offshore funds - but he wouldn't want to touch that.
Hugin
(37,899 posts)I am actually quite surprised he hasn’t shown up at the bond hearings in a wheel chair or iron lung wearing a neck brace.
I suppose the only reason is because it would blow his claims that President Biden is too old. But… Those considerations have never stopped him from doing stupid shit before and the milquetoast media mealy mouths him out of it.
markpkessinger
(8,924 posts). . . It would be highly unusual for anyone, regardless of their level of wealth, to have a half billion dollars sitting around in liquid form. The New York Courts won't accept assets in lieu of bond -- they want cash. And Trump probably doesn't have it available. Actually, I would have been more surprised if he actually had that much on hand to be able to post it!
underpants
(196,802 posts)well actually he’d already lost the case as you know. He could have started liquidating but that would be a public admission that he was wrong or could lose (even though he already had) and Trump’s ego wouldn’t let him do that.
WarGamer
(18,705 posts)markpkessinger
(8,924 posts). . . I think most of the time, he's just winging it!
underpants
(196,802 posts)His lawyers seem to have absolutely no input and I’m sure decisions that are made change flippantly all the time.
LetMyPeopleVote
(180,551 posts)There is no way that the judge is going to waive the bond