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(129,069 posts) Wed Mar 13, 2024, 02:05 PM Mar 13

Chubb CEO defends backing Trump appeal bond in E. Jean Carroll case [View all]

Source: CNBC

Published Wed, Mar 13 2024 12:33 PM EDT Updated 9 Min Ago

The CEO of the Chubb insurance company on Wednesday defended providing former President Donald Trump with a $91.6 million appeal bond in the civil case where he was found liable for defaming writer E. Jean Carroll after she accused him of rape.

Chubb CEO Evan Greenberg, in a letter to investors, customers, and brokers who expressed concerns about the bond, wrote that the decision to give it to Trump “has nothing to do with the underlying merits” of the appeal, “or with favoring any of the parties in the case.”

“When Chubb issues an appeal bond, it isn’t making judgments about the claims, even when the claims involve alleged reprehensible conduct,” Greenberg wrote in the letter, which was obtained by CNBC.

“As the surety, we don’t take sides, he said. “It would be wrong for us to do so and we are in no way supporting the defendant. We are supporting and are part of the justice system plumbing included in this case.” Chubb has been under fire since last week when Trump revealed he had obtained the appeal bond from the company.

Read more: https://www.cnbc.com/2024/03/13/chubb-ceo-defends-backing-trump-appeal-bond-in-e-jean-carroll-case.html

85 replies

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Chubb CEO defends backing Trump appeal bond in E. Jean Carroll case [View all] BumRushDaShow Mar 13 OP

But they are taking sides, and they are supporting that rapist Trump. canuckledragger Mar 13 #1

No. The purpose of an appeal bond is to protect the person Ocelot II Mar 13 #2

THANK you Ocelot.... democratsruletheday Mar 13 #15

Thanks again Ocelot.. democratsruletheday Mar 13 #16

But is Trump paying market rate for this surety exboyfil Mar 13 #27

Is Trump paying at all? dpibel Mar 13 #63

"Trump's benefit" dpibel Mar 13 #64

Yes, he keeps his assets for now, but since they are collateralized he can't do anything with them; Ocelot II Mar 13 #68

You. Do. Not. Know. dpibel Mar 14 #72

Is there some evidence of this? Ocelot II Mar 14 #74

The same quantum of evidence you have dpibel Mar 14 #80

Whatever. Ocelot II Mar 14 #81

Let's see how they feel when Trump stiffs them Ray Bruns Mar 13 #3

$90M is pocket change for Chubb. Ocelot II Mar 13 #5

That's seems at odds angrychair Mar 13 #8

Published by whom? Ocelot II Mar 13 #11

Greenberg angrychair Mar 13 #21

He's still on it. Why hasn't Biden removed him? Ocelot II Mar 13 #35

Link to this "published" account? Or is it a "some people say" account? onenote Mar 13 #25

Google is free angrychair Mar 13 #32

No, you referred to a published account of an 11th hour meeting between Trump and Greenberg leading to the bond onenote Mar 13 #60

Greenberg Traurig, a law/lobbying firm, was just signed to represent Orban's government., Ocelot II Mar 14 #82

Do you have a link to a credible source that Greenberg is a Republican mega donor? Silent Type Mar 13 #28

OpenSecrets angrychair Mar 13 #33

And he's given thousands to Democrats, although admittedly not as much as GOPers. Silent Type Mar 13 #41

I don't know about Evan EndlessWire Mar 14 #70

Do you think CHUBB will cover bluestarone Mar 13 #19

He can't. They have collateral worth way more than the bond amt. mobeau69 Mar 13 #7

And Trump's own, highly reliable word... HariSeldon Mar 13 #38

Do they really, though? Diraven Mar 13 #56

Even if the collateral was way overvalued by their underwriters EJC still gets her money. mobeau69 Mar 13 #57

You skipped a step dpibel Mar 13 #59

You have a point but why would Chubb get involved? mobeau69 Mar 13 #61

For bucks dpibel Mar 13 #62

fuck chubb ZonkerHarris Mar 13 #4

Why don't you want Carroll's verdict to be protected Ocelot II Mar 13 #6

I want her to take the Tower ZonkerHarris Mar 13 #18

Trump doesn't own the tower. Ocelot II Mar 13 #20

Chubb writes bonds. Strickly business. twodogsbarking Mar 13 #9

They must be catching a good deal of heat for this. Novara Mar 13 #10

He can't stiff Chubb. They have attorneys way better than Hubba Bubba that wrote the secured contract. mobeau69 Mar 13 #12

While true, as long as he's being sued, he avoids actually paying. He could drag this shit on until he dies. Novara Mar 13 #13

He's only appealing the judgement. mobeau69 Mar 13 #24

If he doesn't pay Carroll, Chubb pays - and then they'll come after the collateral he put up for the bond. Ocelot II Mar 13 #36

Yeah and as long as it is all tied up in court, he's not paying. Novara Mar 13 #43

That's Chubb's problem, and they considered that risk when they issued the bond Ocelot II Mar 13 #44

And E. Jean Carroll will get her payout from Chubb, no matter what. ShazzieB Mar 13 #52

Absolutely. Ocelot II Mar 13 #54

He can't. At the end of the appeal process, if he loses (and he will), the bond guarantees Carroll gets paid. Ocelot II Mar 13 #40

I would just like to know EndlessWire Mar 14 #71

I have a simple solution for the CEO maxrandb Mar 13 #14

Just one more thing Mr. CEO maxrandb Mar 13 #17

Mr Chubb CEO Danascot Mar 13 #22

If I were Chubb shareholder, I'd be angry that the CEO just threw $90M out the window Wild blueberry Mar 13 #23

So you don't think they have collateral covering the amount of the bond? onenote Mar 13 #26

Chubb will not lose. I would bet on it. They know their shit and how to wipe it. twodogsbarking Mar 13 #29

I agree. ShazzieB Mar 13 #55

Hell, it's tempting to buy stock in Chubb, especially if they also issue the bond for the much larger verdict Ocelot II Mar 13 #42

They wouldn't have written the bond if their underwriters weren't confident Ocelot II Mar 13 #37

Chibb enid602 Mar 13 #30

For the F_%k Greenberg crowd, the horrible Evan Greenberg said this after 1/6/2021. Silent Type Mar 13 #31

So Mz Pip Mar 13 #34

I'm running out of hands with which to perform another facepalm. Ocelot II Mar 13 #39

"I'm running out of hands with which to perform another facepalm." BumRushDaShow Mar 13 #47

That's about right... Ocelot II Mar 13 #48

... BumRushDaShow Mar 13 #50

Why do it? To make around a million bucks. onenote Mar 13 #45

I still hope they lose it all SouthernDem4ever Mar 13 #46

For the umpteenth time, the purpose of the bond is to protect Carroll's verdict, Ocelot II Mar 13 #49

Assumes facts not in evidence dpibel Mar 13 #58

You also make an assumption onenote Mar 13 #65

I said no such thing dpibel Mar 13 #66

Yes you did. onenote Mar 13 #67

I am SO BUSTED!!1! dpibel Mar 14 #73

And what is the evidence that assets other than Trump's are the collateral? Ocelot II Mar 14 #77

You are the one making flat assertions dpibel Mar 14 #78

Whatever. Ocelot II Mar 14 #79

It's not a bad thing - for Trump SouthernDem4ever Mar 14 #75

The main backer for the Brexit campaign in the UK OnDoutside Mar 13 #51

It's not odd at all. Insurance is very, very big business all over the world. Ocelot II Mar 13 #53

I am waiting for her to start another defamation case against Trump.... William Gustafson Mar 13 #69

He didn't say how the guarantee from TFG was made. More Putin money laundering? marble falls Mar 14 #76

Chubb has a chubbie for Chump Kennah Mar 14 #83

I was told there would be popcorn served with this thread. Where's the line? NT mahatmakanejeeves Mar 14 #84

this is fine prodigitalson Mar 14 #85