It Seems Trump Still Has No Idea How to Post That Massive Fraud Bond
It Seems Trump Still Has No Idea How to Post That Massive Fraud Bond
No one wants to help out poor old billionaire Donald Trump.
Donald Trump still hasn’t posted bond in his New York civil fraud trial, but his lawyer Alina Habba wants you to know that it’s definitely not because they’re having trouble getting the massive amount together.
The former president was fined $354 million for committing real estate–related fraud in New York. In order to appeal the decision, Trump must post a bond of the full amount plus interest—which has already reached nearly $467 million, with interest adding $112,000 per day.
When asked Wednesday if Trump was any closer to posting bond, Habba had a very clear answer that raised no red flags.
“Yeah, no, unfortunately I can’t speak to that. That’s privileged, and I am the attorney, one of the attorneys on that case,” Habba told Fox News, stating the obvious.
She quickly pivoted to attacking the case altogether, calling the judgment “absurd” and expressing hope that an appeals court would overturn it.
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Nobody has 467+ million dollars in cash ready for transfer at any given moment, especially for something like this. That would be poor financial planning even for a billionaire. However... It's not like he didn't have a heads up that it's coming, so it seems like he didn't have his ducks in a row here.
I'm sure even Elon or Bill would have to make some annoyingly painful decisions to get that amount of cash on short notice.
It's telling that he is struggling to borrow against his properties to raise the capital. It suggests that behind the scenes banks are not offering him favorable terms. And even if he were to win on appeal, it will still be quite expensive for him. I'm guessing that in the bank's internal analysis they project the original judgment will stand and therefore are considering how much they will earn after they foreclose on his buildings and sell them. It's potentially sizable...
If the Trump name were removed from the tower the value might actually increase lol.
On the other hand, unless Trump is delusional (granted, it's possible), he must also know that winning on appeal is a long shot and therefore this money, once he puts it up, is gone. I guess his efforts to borrow rather than sell to raise capital are his version of YOLO. Because he's either president and figures out how to stall, or he's old already in the consequences will be short-lived.
Yeah "no one has $467 million dollars on hand" except Trump reported to the court he had $400 million on hand and he had plenty of time to prep just in case.
Hmm I wonder if Trump's ever inflated his asset values before
Somebody should look into that...
i wonder if he's ever been honest about literialy anything, ever.
Nobody has 467+ million dollars in cash ready for transfer at any given moment
That's OK. The point is that nobody wants to lend him that amount of money anymore. So either he does not offer enough collateral, or no-one deems whatever he offers worth it. And those companies who have the money to do this usually know how to estimate someones worth...
Nobody has 467+ million dollars in cash ready for transfer at any given moment, especially for something like this.
You're right, they don't. That's what collateralized loans are for. But he hasn't been able to get a loan lined up either. Hmm...