Trump has been unable to get bond for $464 million judgment, his lawyers say
Trump has been unable to get bond for $464 million judgment, his lawyers say
In a filing to an appeals court, Trump's attorneys said getting the bond needed to halt proceedings while they appeal is a "practical impossibility."
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The fact that no bond companies would accept real property as a collateral for the bond and only liquid or easily liquified assets points to the properties being leveraged to the hilt. If he ends up having to pay even a portion of this and has to start selling properties we should see a true picture of his financial status.
Imagine if he wins the election and is flat broke. He'll auction off everything the US owns in exchange for a cut or finder's fee. And let's not pretend that the emoluments clause actually applies to any of elected leaders.
We don't have to imagine too hard here. The fact that he's even able to run for president again is a travesty of justice.
What makes it worst is that he'll get millions of people to vote for him
Tens of millions, even.
I think the reason it was such an issue with Trump is I can't think of another president that had the infrastructure (i.e. his hotels) to make revenue via emoluments.
Carter was a peanut farmer and those peanuts were sold internationally. He sold the farm before being elected so as not to be in violation of the emoluments clause.
Just setting the record straight. Carter put his farm in a blind trust. And I agree that Trump isn't fit to clean Carter's outhouse
Didn't W divest a bunch of stuff and setup a blind trust for the same reason. And if I'm remembering correctly didn't the peanut farm had been Carter's family for a while so he gave up something that meant something more than money.
Every president save Trump in modern times has had various assets and investments, and they have all put them in blind trusts during their terms.
Additionally, this judgment is for his civil fraud trial. Where he was found liable for inflating the value of his properties in order to obtain loans against them.
Given that, I can understand a general reluctance to loan against the value of his properties.
He was able to obtain a bond for that one as well as having some of the restrictions against him removed.
So if he falls to make bond and the state starts seizing assets, how does that work, exactly? They auction it to pay the lawsuit? What if Trump gets a bite on selling a property intending to make bond but it's a big real estate transaction and that takes time? Will he be allowed to finish the sale before the state seizes assets?
They'd be best to sieze and sell the assets independent of Trump. Chances are he will sell stuff to certain people with Slavic accents, and then we'll have a potential president even further beholden to enemies of the state, which is generally considered sub-optimal.
The government people who are in charge of collecting the dough from this judgment will be wise to the possibility that he may not have a bonafide buyer and that he's just fluffing if he says a deal is about to go through.
Any buyer will know that he's a motivated seller so the offers aren't going to be all that great.
When the government seizes banks that are about to fail, usually they seem to find qualified buyers privately and the deal is over within days.
I have a feeling that because Trump has allowed things to get to this point, the government is less interested in selling at the highest price possible and instead will take any offer that settles the debt.
I'm wondering what priority the state has over existing lienholders. If State has priority, then some banks may be about to get hosed.
Doubtful. That would penalise the banks, which is a no-no, economically speaking.
They can force sale but the banks get first cut.
Then given how leveraged the properties likely are, a bunch of them will have to be sold to make the 500 mil.
He won't. I just can't imagine he's not going to find some bad actor to step in before that happens. Possibly SA.
some bad actor to step in before that happens. Possibly SA.
Shohreh Aghdashloo is one of the finest actors of our time. You shut your damn mouth.
Edit: Sorry, I just figured out you meant South America. Yeah, I hate that country, too...buncha jerks.
Why would sa make a deal with him? It would have to be secret and there's zero chance he would abide by it later. If he wins and they kill him its a war. If he loses they've bought nothing anyway....
Something Awful is still a thing?
Its 4chan now. Saudia Arabia for those who might actually look here for an answer.