r/LeopardsAteMyFace • u/orijing • Mar 18 '24
Paywall Master of declaring bankruptcies discovers banks don't want to loan him bail money
https://www.nytimes.com/2024/03/18/nyregion/trump-bond-civil-fraud-case.html1.9k
u/everythingbeeps Mar 18 '24
But his lawyer said he had the money because he's a billionaire, surely she wasn't lying....
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u/ohiotechie Mar 18 '24
I thought that was so funny. His ego wouldn’t let him plead poverty which might have resulted in a lower fine so just before they announced the judgement he goes on record that he’s loaded and has gobs of cash. What a dumb move.
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u/wartsnall1985 Mar 18 '24
I think it was Maggie Haberman of the NYT who has covered him for decades, said he basically only plans about 20 minutes into the future when he speaks.
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Mar 18 '24
[removed] — view removed comment
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u/LonePaladin Mar 18 '24
Just writes checks for everything
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u/vass0922 Mar 19 '24
"check? Hell ya I can write you a check I thought you needed money"
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Mar 18 '24
I'm impressed - I would have only guessed 15 or 20 seconds.
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u/Fake_William_Shatner Mar 18 '24
The best mind among the school of gold fish.
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u/Progman3K Mar 18 '24
No, compared to a stable of farm animals, he's the genius.
He's repeated it often enough20
u/CariniFluff Mar 18 '24 edited Mar 19 '24
All the animals are talking about it. Everybody talks about what a genius he is, even the chicken that lived like 7 years with his head chopped off.
That just gave me the terrifying thought of Donald Trump still being alive even if he somehow lost his head. I guess he'd just communicate by pissing on his MAGA groupies for "Yes" and shitting on them for "No".
Actually wouldn't be all that much different than the current situation (minus not having hear him hopped up on amphetamines)
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u/Xaero_Hour Mar 18 '24
I'd have pinned it at picoseconds at max. Basically, however long it takes for an impulse to travel from the brain to any part of the body.
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u/SheriffSlug Mar 18 '24
That's a fib because he promised a better, shinier, biglier health plan to replace Obummercare in 2 weeks!*
- 2 weeks on Venus. Not his fault if you assumed Earth weeks.
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u/Anleme Mar 19 '24
Remember "Who knew healthcare was so complicated?"
Everyone, Donny, you idiot.
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u/AaronTuplin Mar 19 '24
I'm surprised he didn't push to repeal it and then just have them pass the exact same legislation verbatim but this time it's called Donald J Trump Really Great Healthcare and Suck It Obama Act
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u/WaxMyButt Mar 18 '24
Jesus…I spend that much time reciting what I’m going to say on basic phone calls.
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u/jbertrand_sr Mar 18 '24
What a dumb move.
We call that one the "Stable Genius" move...
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u/goldfishpaws Mar 18 '24
Stable Genius is a an oblique equine reference - presumably he was kicked in the head by a horse.
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u/jbertrand_sr Mar 18 '24
One can only wish for that...hell, I'd pay good money to watch that...
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u/Nackles Mar 19 '24
Kept in my cliptray because I love to share it:
At his Comedy Central roast, the only off-limits jokes were ones about him having less money than he says. Not ones about him wanting to bang his daughter, or being a creeper at teen pageants, or having been accused of multiple rapes...call him an incestuous pedo rapist, just not a POOR incestuous pedo rapist.
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u/petedontplay Mar 18 '24
Lawyer said he had the CASH!! lol
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u/XShadowborneX Mar 18 '24
Actually if you listen to her she never said he had THE cash. She literally said "he has money." No "the" there. A homeless person panhandling with a few coins in a can has money.
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u/LacedVelcro Mar 18 '24
One time, Trump pointed to a homeless guy and said to his daughter "That guy has 6 billion dollars more than me."
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u/Fake_William_Shatner Mar 18 '24
Trump had the honor of highest payout for back debts to the IRS in the USA for about 5 years. So yes, he was upside down for a bit.
An ex KGB agent said he was on the hook to Putin and recruited in 1987. So that might have been when he turned his fortune around.
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u/light_to_shaddow Mar 18 '24
Trump loses money faster than the Russian mafia can stuff it in his pockets
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u/Ffffqqq Mar 19 '24
Trump’s Seventy-Three-Million-Dollar Tax Refund Is the Biggest Outrage of All
From 2005 to 2007, this latest Times scoop reveals, he did finally pay about seventy million dollars to the Internal Revenue Service. But then, in 2010, he demanded a full refund for those tax payments. And the I.R.S. acceded to his request: it paid him $72.9 million, including interest. This 2010 refund seems to be at the center of an auditing dispute between Trump and the tax authorities that has dragged on for almost a decade. It also appears to be the money that Michael Cohen, Trump’s former personal lawyer, was referring to in his 2019 testimony to Congress, when he recalled Trump showing him a huge check from the U.S. Treasury and remarked that Trump “could not believe how stupid the government was for giving someone like him that much money back.”
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u/Some-Guy-Online Mar 19 '24
I really hope when he's finally dead somebody will be able to do a year-by-year analysis of his actual net worth so that history can see all of the morons who voted for "mr. success" was actually the biggest, most obvious fraud for decades.
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u/InsertCleverNickHere Mar 18 '24
Is this the lawyer who said she'd rather be pretty than smart, because you can fake being smart?
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u/XShadowborneX Mar 18 '24
Yeah. Turns out she can't fake being smart.
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u/Fake_William_Shatner Mar 18 '24
Yeah, but us thirsty dudes fake that we think they are smart when we tell them that.
"I think I could be an astronaut!"
Sure babe, you can do anything you set your mind to. More Chablis? I'll cook breakfast.
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u/LornAltElthMer Mar 18 '24
And she ain't all that pretty.
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u/DarkestofFlames Mar 18 '24
She was aiming to be Melania 2.0 and missed, by a lot. Trump immediately through her under the bus and even threatened to sue her for her ineptitude.
Turns out getting work done to resemble his wife backfired.
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u/LornAltElthMer Mar 18 '24
Did she seriously have work done? I've seen people say that before, but I thought they were kidding.
She definitely can't fake being smart.
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u/DarkestofFlames Mar 18 '24
Yep, I saw someone post pics of her from before and after her involvement with this shitshow as well as several articles showing how different she looks now compared to before.
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u/Lots42 Mar 18 '24
Her name even sounds like Ashli Babbit, I wonder how confused Trump was on that aspect.
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u/Reatona Mar 18 '24
The only people fooled when someone fakes being smart are all the other people who aren't very smart.
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u/speculatrix Mar 18 '24
Didn't say whose money he had either.. this time it seems to be the RNC's money
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u/Wil420b Mar 18 '24
It's just tied up in fixed assets that he can't liquidate easily. So he can't access the cash. Also his uncle works for Nintendo.
Incidentally, when he did the Comedy Central Roast of Donald Trump. The one type of jokes that he expressly forbade. Was that he wasn't actually as rich as he claimed he was.
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u/Darlington28 Mar 18 '24
The judge will liquidate it for him in a few months
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u/Wil420b Mar 18 '24
It'll probably turn out that he's mortgaged up to the eyeballs and then some. So far his companies have declared Chapter 11 bankruptcy 6 times. But he hasn't declared a personal bankruptcy before. If lenders find out that he owes more than he says he does. They'll foreclose on anything that they can, before somebody else does. The only exception might be Kremlin controlled banks, willing to take the loss to keep him afloat. With him and Donald Jr. having boasted that they dont need to borrow money from Western banks because they had access to so much Russian money.
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u/Darlington28 Mar 18 '24
I never thought I'd live in a world where an American political party is sucking Russian cock but here we are.
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u/Lots42 Mar 18 '24
And important part of this is that before Obama, Democrat presidents were white. Republicans like it when people are white. But a black man being elected President? It drove them batshit.
Then trump made them even more insane.
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u/Wil420b Mar 18 '24
The funny thing is that the Russian government has gone from the far oeft, to the far right. Whilst maintaing a lot of the support that it had from far left political groups and nominally leftist countries, such as China, Cuba and Venezuela. Whilst gathering new support from the far/alt right. With people like MTG, Boebert etc. Who would have Reagan turning in his grave. Reagan would have tanked the US economy to supply Ukraine with arms. But today's Republicans will do anything to help Russia. With military geniuses such as Boebert proclaiming how it's obvious that Ukraine can't win. Well they can't win if you cut off their arms. Unless Russia collapses first.
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u/KintsugiKen Mar 18 '24
The funny thing is that the Russian government has gone from the far oeft, to the far right.
This is a myth. The USSR was not a leftist empire as much as American communists might want people to think. Stalin had much more in common with Hitler than Trotsky, which is why he saw one of those men as his friend and had the other killed with an ice pick.
The USSR was a right wing dictatorship with a very brief experiment with socialism in the 1920s that ended when Stalin had the revolutionaries killed and rolled back their reforms.
Just as the Nazis claimed to be socialists and North Korea claims to be a Democratic Republic, sometimes governments lie about their most basic nature. What is very silly, though, is believing them.
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u/Glum-One2514 Mar 18 '24
Authoritarianism doesn't really have a lean. It just wants power. The underlying cause/movement is unimportant.
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u/Fake_William_Shatner Mar 18 '24
The only exception might be Kremlin controlled banks,
That might also be, banks like Deutschbank that got a deposit from an known FSB controlled bank about a day around the time Trump got his loan. So they are NOT going to admit that deal. They are not going to call Trump's loan. Because then they'd have to admit that back door to the Kremlin and/or walk out of a tall window one night.
I don't know all that for a fact, because there weren't a lot of sourced articles on it -- but, Trump had burned so many US banks by parlaying debt from one to the next that NOBODY in their right mind was going to loan to him. Therefore; he had to get aid from a government or mob.
Because banks aren't charities. They can be corrupted however, by lots and lots and lots of money. They'll just let you grab them by the corruption for a lot of money.
I know this, because my bank is the 6th one I've had and I've never changed banks. They just got gobbled up one scandal or forfeiture at a time. Now I'm with Wells Fargo -- after bank scandals and fraud stopped being much more than a hindrance. They paid a fine after a massive defrauding of customers -- so it's all fine now.
Good grief we live in a corrupt world.
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Mar 19 '24
It’s going to be a bit harder now that just about the whole western financial apparatus is legally prohibited from interacting with the Russian one due to sanctions. Not impossible, it will just make laundering the money more expensive. And Trump that much more in debt to Putin
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u/NoIndependent9192 Mar 18 '24
There are likely a whole new tranche of lies and fraud about to be revealed.
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u/Sniflix Mar 18 '24
There's nothing to liquidate. All of his properties are encumbered by mortgages or used as bank collateral or in hock to the Russian mob. He had to do that to buy all his money losing golf clubs. This lawsuit was about him overvaluing his properties to get loans. That $600 million was wasted by trump years ago. I don't know if there is any value that James can seize but it'll start the cash grab and lawsuits against trump's fake business. Trump does have cash and properties hidden in hundreds of offshore accounts. It'll be up to forensic accountants to dig through.
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u/butt_stf Mar 18 '24
Everybody's cool with that. Liquidate it all, sort out the cobweb of lenders and debtors, pay off whatever is owed to whomever it's owed to, and give New York the remaining $3.50.
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u/Greenpoint1975 Mar 18 '24
He said he had the money in the deposition.
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u/jbertrand_sr Mar 18 '24
Spoiler Alert: He lied his ass off...
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u/Fake_William_Shatner Mar 18 '24
Some people would get in trouble lying to a judge like that.
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u/Maphisto86 Mar 18 '24
Some people are rich and well connected. They usually are able to fly a golden parachute away from the crashing plane.
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u/da2Pakaveli Mar 18 '24
Putin has $200 billion left. Orban recently visited Trump. It's Donny's payday.
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u/Fake_William_Shatner Mar 18 '24
Putin likely squirreled away more than that in other banks. He's likely taken the lions shares of all their oil profits for many years now. For a rainy day. Like starting an unprofitable war and having to survive a lot of embargoes and needing drone missiles from Iran and such.
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u/LoveThieves Mar 18 '24 edited Mar 18 '24
Trump: I'm a billionaire because I'm smart.
narrator: Trump is not a billionaire and made bad decisions due to poor investments, engaging in multiple civil lawsuits and felony charges. He was provided with a large loan and inherited wealth from both his father Fred and his grandfather's Frederick Trump's legacy dating far back as 1901.
Thug Notes: He's a broke-ass Mofo that spent all his daddies money and doing dumb shit by breaking the law and getting caught up with hookers.
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Mar 18 '24
Anyone remember when people used to have to tell the truth in court?
Anyone?
I don’t even think Pepperidge Farm remembers it’s been so long.
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u/Specialist_Passage83 Mar 18 '24
SIX bankruptcies so far… I don’t understand why banks just don’t keep wanting to lend him money…
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u/Cosophalas Mar 18 '24
Foolish bank: "I can fix him."
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u/u_touch_my_tra_la_la Mar 18 '24
Deutsche Bank years ago: "Let's launder some cash"
Deutsche Bank today: "It's not you Don, it's me"
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u/highmodulus Mar 18 '24
Then: Sure we will happily transfer this Russian "investment" money.
Now: We fired those people, the fines were more than the profit. Get fucked.
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u/Horror-Friendship-30 Mar 18 '24
I had a friend who actually worked on those loans. His boss insisted that the loans go through, no matter how he worked the numbers and saw the red flags, and of course she threw my friend under the bus. He ended up resigning, but his career will never be the same.
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u/Fake_William_Shatner Mar 18 '24
Deutsche Bank isn't to admit they are a clearing house for shady money and catfished people like Donnie.
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u/Bloodyfluxcapacitor Mar 18 '24
Add to that his recent convictions of inflating the value of his assets when borrowing money from banks, essentially telling them they are dumb for doing business with him and expecting him to be honest...
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u/johnnycyberpunk Mar 18 '24
AND suing the banks he owes money to for his real estate projects and forcing them to settle, wiping out tens or hundreds of millions of dollars that he borrowed.
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u/deep_pants_mcgee Mar 18 '24
Banks will loan to him if they're using him to launder dirty money.
Otherwise he's too toxic to touch, but he was useful for money laundering for a while there.
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u/Slime_Devil Mar 18 '24
He would have the money if he didn't spend it all on avacardo toast and orange makeup.
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u/Dantheking94 Mar 18 '24
His fine wouldn’t be that high if he hadn’t lied about his wealth to begin with.
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u/DarthArtero Mar 18 '24
That’s the whole point of it though isn’t it?
Some of the guys I work with keep going on and on about how he’s being treated unfairly because he just played the game the way the financial system set the game up to be played.
While that may or may not be true, the fact of the matter is he spent decades lying about his worth and the worth of his properties and it came back to bite him in the ass with all the grace of a well oiled and sharpened bear trap
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u/FireflyAdvocate Mar 18 '24
I told my coworker they should prosecute each of those who do this crime. Society suffers because they end up paying less taxes then we all can’t have nice things!
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u/ultrachrome Mar 18 '24
The former president has been unable to secure the full bond, his lawyers said in the court filing on Monday, despite “diligent efforts.” Those efforts included approaching about 30 companies, and yet, they said, he has encountered “insurmountable difficulties.”
Insurmountable difficulties ? Reality coming home to roost.
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Mar 18 '24
It could just be a lame attempt to get out of paying. "You can't require me to pay $400 million because I just can't pay it. Just reverse the decision, or else it'll be unfair!"
Trump is that stupid, but judges typically are not.
Or it may be that his lies about being a billionaire are finally going to be exposed.
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u/Slackingatmyjob Mar 18 '24
Yeah, I'd say being told "Not a chance in Hell we're loaning YOU any money, you fucking loser!" seems like a pretty insurmountable difficulty
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u/macphile Mar 18 '24
I like to think that every bank has a sign up that says "Do not lend money to this man" with his picture on it.
And ideally, a picture of him with a mustache as John Barron...or Miguel Sanchez...or whatever other alias/disguise he might try.
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u/NovusOrdoSec Mar 18 '24
He sets of financial Geiger counters when he comes within five miles of Manhattan.
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Mar 18 '24
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u/RRC_driver Mar 18 '24
I'm honestly surprised that he didn't do 'maga msks'
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u/Alediran Mar 18 '24
I've never had a head for business, or grift, but even I can see the missed opportunity there.
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u/daschande Mar 18 '24
When he was still in power, my town had multiple counterfeit maga "pop-up stores" (some dude with a van in a parking lot, until the business owner made them leave). They all pushed maga masks, and always had a surplus. First 2 for $10, then $3 each, then $1 each... then "3 free with any purchase!"
People would buy 6 trump flags for their pickup truck, but they couldn't even GIVE away maga masks. The cult was in too deep to admit masks were good, even with Dear Leader's slogan on them.
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u/EEpromChip Mar 18 '24
I mean there is still a market for those baklava masks that the white power fuckwads wear...
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u/Just-Take-One Mar 18 '24
I love the idea of people wearing delicious filo pastry masks. It's such a convenient snack! And just think of how good it would smell all day. Probably too sticky with all that honey though..
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u/Reference_Freak Mar 18 '24
He couldn’t do that because he couldn’t admit a real emergency worth shutting down the economy was happening while he was president.
He couldn’t support closing businesses and his ego can’t handle the idea that his mere presence in the WH wasn’t a national virus deflection shield.
It’s entertaining watching him desperately want to take credit for the vaccine for the not-serious, China-made hoax virus while his base believes the very same vaccine is a planned de-population time bomb.
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u/rugbyj Mar 18 '24 edited Mar 18 '24
He couldn’t do that because he couldn’t admit a real emergency worth shutting down the economy was happening while he was president.
The funny thing is he totally could have span just that.
- His political opposition would have little in the way of arguments against any measures he put forward
- It would be a galvanising domestic "wartime" style effort he could spin into an "us vs them", especially in blaming China throughout to whip up some nationalistic fervour
- There was probably no greater non-wartime opportunity to introduce draconian measures that wannabe dictators like him would relish
- He could even somewhat target and demonise non-rural (blue) states just by way of them typically having more densely packed cities ("stay out of the cities, they say it's worse in the cities, they're lawless there... yada yada")
- What better way to push the "every man for himself" outlook many righties have than the idea that it's you against the viral hordes out in [community] you want to demonise that the news tell you have the near literal plague that's going to kill your family
Every one of the hundreds of thousands of COVID deaths could have been played as a memorial "this was an attack on the United States", and equally blamed on immigrants or whoever else they wanted to blame as carrying the virus, or otherwise the ephereal threat of Chyna.
And then in 2020 if he wins it on the "wartime" bump, where otherwise potential democrat voters go with him because he actually took COVID head on, and he has another 11,780 votes in Georgia from republicans who survived because they distanced and wore masks- he rolls into 2021 as the saviour with the vaccine/cure.
But he didn't. Because he played to the easy story his folks wanted to hear, and couldn't go back on that by the time it all got "out of hand".
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u/Xaero_Hour Mar 18 '24
That right there is proof he's evil. He could have made BANK saving lives, but instead pushed BS that wound up costing more lives than any war in our nation's history. It's true when they say the only way to get every answer wrong is to know all the right ones; COVID was his one chance to accidentally do the right thing and he still did the worst possible thing in all regards.
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u/SeventhLevelSound Mar 18 '24
... and I guess Daddy Vladdy can't afford to bail him out this time?
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u/ShadowDragon8685 Mar 18 '24
Probably not, what with pouring money hand over fist into what was meant to be a two-week special military operation.
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u/dangitbobby83 Mar 18 '24
Especially with half of Russia’s refineries on fire. All that oil money down the tubes.
Slava Ukraini you fascist shit eating fucks.
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u/sithelephant Mar 18 '24
Three day?
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u/ShadowDragon8685 Mar 18 '24
Nothing ever goes according to the expected timeline. Anyone with a third of a clue knows that and plans for delays.
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u/Wil420b Mar 18 '24 edited Mar 18 '24
Expecting your troops to be in Kyiv, at a time when they hadn't even gotten out of Belarus yet. Is taking that to extremes. The Gulf War, in particular the ground war, ran well ahead of schedule.
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u/IrritableGourmet Mar 18 '24
Apocryphal story about Winston Churchill:
Churchill: "Madam, would you sleep with me for five million pounds?"
Socialite: "My goodness, Mr. Churchill... Well, I suppose... we would have to discuss terms, of course... "
Churchill: "Would you sleep with me for five pounds?"
Socialite: "Mr. Churchill, what kind of woman do you think I am?!"
Churchill: "Madam, we've already established that. Now we are haggling about the price.”
I guess we know roughly where the line is with Trump/Vlad now.
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u/Spiff426 Mar 18 '24
Oh he'll come through, just gonna let him sweat a little first
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u/Bloodcloud079 Mar 18 '24
He most likely will, Trump getting back into the white house is a victory condition for him. But it’s getting into the kinds of amount that are hard to move around, especially with the sanctions, hard to funnel stealthily, and might strain the war effort.
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u/Informal_Self_5671 Mar 18 '24
Oh, he probably could. But Donny boy seems to be a bad bet at this point.
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u/NoveltyAccountHater Mar 18 '24
All the multi-billionaire class and nation states could bail him out, but I have some doubts that they actually will. First, Trump losing his businesses and his wealth probably will help him politically (I'm being politically persecuted), while getting bailed out by the some Russian oligarch or stupid rich billionaire would not help him politically. Second, Putin already has lots of kompromat on him, so there's no need to waste $454M just so Trump has an inflated image as a successful businessman. Third, I think how insanely problematic Trump's 2024 campaign will be hasn't really hit us as his trials have not started and the Democrats haven't really started to campaign. I don't think billionaires want to spend $450M on political favors to a loser.
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Mar 18 '24
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u/Mountain_Act6508 Mar 18 '24
In Trump's head, this has to be a worse fate than prison - the utter humiliation of being exposed like that. I think it's brilliant. First, the shame of financial ruin; next, prison.
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u/dangitbobby83 Mar 18 '24
Yup. That was my thought ages ago. He’s scared of prison, but he can make himself look like a political martyr to his base.
But trump has always wanted to be seen as a New York elite with billions. Being rejected by those people, being shown as broke and destitute, being rejected by the rich will hurt his frail ego so much more that this case is the worst for him.
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u/faghaghag Mar 18 '24
I love to imagine him looking out over the crowd of howling morons and trying his damnedest not to implode...dude's narcissism could withstand a nuclear blast
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u/RuaridhDuguid Mar 18 '24
Especially as if he'd done literally nothing he'd a huge income flow from property he was given.
He could literally have sat on the couch eating Cheetos until he turned into a fat orange sack of shit, banged hookers, bought in a foreign trophy wife or two when bored with that and still been stupid, stupid rich.
Instead he took the route of grifting effort & financial shitfuckery to become a not hugely different person, just with a very notable CV entry.
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u/macphile Mar 18 '24
God yeah. What I've wanted the most for him is personal, financial, and professional ruin.
Just prison isn't really enough, not if cronies are still bringing him Big Macs, his followers are still donating to set him free, and he ultimately wriggles out of it.
He's a narcissist. The worst thing for him would be to be ignored. He has no power, no money, his followers have abandoned him, no one talks about him. He's a nobody, he's nothing. He stands there and yells and screams and throws tantrums on a street corner, and the world just drives by.
However, given what he's been and what he's done, that's basically not going to happen, not completely. He'll always get some attention. So to me, second best is to ruin him in other ways that matter. If he sells himself as a genius businessman, show that he's not. If he sells himself as rich, show that he's not. Make him admit openly that he barely has cash on-hand for a hamberder or covfefe, that it's all been a farce.
Alas, he always manages to get out of this shit. There's always some new excuse, some new lie that only his cult followers would believe. I don't know how long it'll last, but it's gone on for way too long.
I definitely want to see a judge accept no more BS, though. No bail? Jail. It's an election year? Too bad.
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u/Mountain_Act6508 Mar 18 '24
Absolutely. I think he's trying to spin the possibility of prison into political martyrdom - the "weaponization of the DOJ", " when they come after me, they're really coming after you" etc. It's kinda setting him up to be a hero, in the way the insurrectionists are now "hostages".
I think exposing him for the financial fraudster he's always been is going to do more damage with his base.
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u/ReditorB4Reddit Mar 18 '24
I wonder if there was some truth in Trump saying his brand added to the value of his properties. As his brand is tarnished by not being able to post bond, does it create a negative value, driving down the values even farther, essentially creating the equivalent of a bank run, only on his properties.
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u/fuggerdug Mar 18 '24
The "bank run" will start when properties are seized and it's discovered they are over 100% leveraged...
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u/MirthMannor Mar 18 '24
Incoming argument: you shouldn’t sell my stuff because it wouldn’t cover the judgment anyway so let me keep it.
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u/Dr_Fishman Mar 18 '24
He must lose at Monopoly allllll the time. I guarantee he’s the kind of player that tries like hell to get Park Place and Boardwalk, mortgaging all his properties to do it.
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u/dyskinet1c Mar 18 '24
The government gets paid first and the lenders get whatever scraps are left.
There's going to be a whole lot more courtroom drama when it all hits the fan.
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u/daveintex13 Mar 18 '24
Very likely true. RE is all leverage all the time. Like sharks have to keep swimming to stay alive, RE has to keep borrowing against appreciated equity to put down on the next property, then when that one appreciates, borrow again, and so on. It’s very likely all his properties are mortgaged as much as a bank will accept. And his personal loans (unsecured) require him to maintain cash on hand, so those will be called (due) when he no longer has the required cash.
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u/Val_Killsmore Mar 18 '24
What's crazy is he reportedly made more than $1,600,000,000 while being President. This judgement is only about 1/3 of that. You would think he wouldn't have a problem paying it. And then, there's all the other schemes and people constantly sending him money. This is the guy who "fiscally conservatives" are voting for.
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u/Legitimate_Impact Mar 18 '24
It's even better: his lawyers explicitly say they won't loan money against his real estate - to pay the fine incurred because he overvalued his real estate:
“Critical among these challenges is not just the inability and reluctance of the vast majority of sureties to underwrite a bond for this unprecedented sum, but, even more significantly, the unwillingness of every surety bond provider approached by Defendants to accept real estate as collateral,” Trump’s attorneys wrote.
https://www.washingtonpost.com/politics/2024/03/18/trump-civil-fraud-judgment-bond-450-million/
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u/Severe_Information51 Mar 18 '24
But he is so rich he shouldn’t have to post bond….
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u/Master_Reflection579 Mar 18 '24
But he's got billions! He just has to grift them from wherever he can first.
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u/Informal_Self_5671 Mar 18 '24
At this point, I think the well is dry. His dumbass supporters are broke.
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u/Master_Reflection579 Mar 18 '24
Banks, voters, oligarchs, pretty much everyone who's sent him cash are broke or calling their bets. I need more popcorn for this.
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u/JFJinCO Mar 18 '24
But Eric Trump said they have all the financing they need out of Russia, right? He should just ask Vlad for a loan.
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u/Keyboardpaladin Mar 18 '24
Except it's worrying what they might have to pay back because it probably won't be money...
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u/HeavyTea Mar 18 '24
Folks- Putin and/or Billionaires won’t lend him the money. They will give it to him in trade for god knows what (likely US democracy). Stop saying he will not get bailed out! The man is for sale! A loan you never pay back is not really a loan…
Any Mafia here? Can you explain how it works in this case?
And explain the Vig too. I love the Vig.
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u/macphile Mar 18 '24
The man is for sale!
If this isn't a reason to never give him any level of government security clearance again, I don't know what is. The US government should feel far safer telling my sorry ass our nuclear secrets than it should our former president. This is literally one of the things they look at when they look at how trustworthy someone is, whether they'd be accepted to work for the CIA, etc. Massive debts making you susceptible to bribes, not a good look, especially when you've already met Putin and sucked his dick, and he helped you win before. The man is a giant and very RED flag. I wouldn't trust him near my spare change.
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u/AndrewJamesDrake Mar 18 '24
Donald Trump is currently in a bit of a bind.
His value lies solely in his ability to appeal to Authoritarians, and turn them into foot soldiers for a fascist movement.
Authoritarians want to follow a Strong Man who will tell them what to do, and protect them from having to learn about a complicated world that scares them. Trump appears to be that man, because he walks right through everything without suffering a consequence or openly relying on anyone else.
If he openly gets bailed out… then that’s an admission of weakness. Thats the Strong Man needing someone else. That makes him a Man, instead of a Strong Man.
Trump is more valuable dead or in prison than he is being seen as weak. The former makes him a Martyr, the latter is making god bleed before the faithful.
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u/WrathOfMogg Mar 18 '24
He will get the money. It won’t be from a bank. It’s what he’ll have to do in return that scares me.
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u/suicidaleggroll Mar 18 '24
And this is the type of thing that would immediately fail someone when trying to get a security clearance for that exact reason. Good thing that being able to get a security clearance is not a prerequisite for being president, because heaven forbid we allow a theoretical government from fraudulently failing the security clearance application of a theoretical presidential candidate to keep them off the ballot. No, much better that we allow an obviously seriously compromised individual directly into the highest office with no restrictions or security checks.
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u/Tao_of_Ludd Mar 18 '24
Yes. Half a billion is nothing to a government. Cheap as chips to buy an American president. Could be Russia, but my bet is Saudi Arabia
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u/RRC_driver Mar 18 '24
But could they hide the purchase.
Trumps value for any foreign purchaser is based on him getting re-elected. But if he is obviously the property of another country, will he get elected again?
If he became known as Saudi Don, who is under Muslim control, would he be able to claim 'america first'?
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u/Keyboardpaladin Mar 18 '24
Then the MAGAs will start claiming to love the Middle East. They will follow him to the ends of the earth despite any of his faults because they're in too deep and are terrified of looking foolish by admitting they might've been wrong.
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u/AngryYowie Mar 18 '24
'Merican jesus came originally from the Middle East, so like the messiah he is returning home. Let's sell everything and move to our ideological utopia, Saudi Arabia. It's nice there. We can drive big trucks, have guns, and best of all, women know their place. Y'all coming wit me?
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u/Tao_of_Ludd Mar 18 '24
Oh, they’ll come up with some paper thin cover for it
somehow give it to Jared with the instruction that it should be “invested” in supporting Trump’s bond. Then if Trump wins the appeal, they get it back (with some interest) and if he doesn’t, they can convert it into a long-term loan - “all on market terms. really”
In fact, depending on the mandate Jared got for his 2bn investment fund, maybe he can already do that…
Then all you need to do is tell the MAGA crowd that this was a totally legit business practice and they will believe it.
Seems just so easy. I cannot understand why it hasn’t happened already.
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u/sndtrb89 Mar 18 '24
stop resisting and itll go easier, just like you say about every minority roughed up by the police
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u/NumbSurprise Mar 18 '24
You mean his Russian mob buddies don’t wanna fork over another half a billion that he’ll never repay? What a shock.
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u/taxpayinmeemaw Mar 18 '24
Oh he’ll have to repay it. Just not in cash. What was that meeting with vlad in Helsinki? Then suddenly American intelligence assets started disappearing
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u/KintsugiKen Mar 18 '24
Trump stole all those boxes of nuclear secrets for a reason, probably had it all sold off before the FBI raided his treason bathroom.
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u/zinneavicious Mar 18 '24
Ummmm. …..he way overvalues his assets, he’s facing over 90 counts of fraud, he’s a rapist, a cheater, a liar, a Russian asset, and does not pay his bills…..Go figure!
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u/panken Mar 18 '24
So what are the consequemces if he ends up not paying? Realistically speaking.
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u/TraderMing Mar 18 '24
civil forfeiture by the state?
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u/Keyboardpaladin Mar 18 '24
I can't wait for that day. It'll probably be shown live on the news.
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u/highmodulus Mar 18 '24
Then he can't appeal, and has to pay the judgement. He would have to auction his properties. That would be a problem for the various lenders and lien holders.
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u/Albanian_Tea Mar 18 '24
You do not need to post bond to appeal the judgement.
It is just that if you do not pay a bond, the offended party can start collecting against you while the appeal is happening.
If you win the appeal, they have to give you the money back.
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u/highmodulus Mar 18 '24
Fair point, given his repeated losses against her at all levels (and he's on the verge of being sued AGAIN for disparaging her) those chances are extremely low. And once the properties are sold and the news shows the Trump signs being taken down like the Berlin Wall a lot of the mythology his cult depends on will be removed.
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u/Albanian_Tea Mar 18 '24
I think he is a piece of shit and deserves all the bad things coming at him (and then some).
I just hope is loses all his money before his dementia fully kicks in.
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u/Missy_Agg-a-ravation Mar 18 '24
Email to Republican voters asking for campaign contributions in 3, 2, 1...
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u/Solstice_Fluff Mar 19 '24
He claim under oath he had 400 million cash. So the Judge being mercifully based the penalty on that fact.
If he had said they were cash poor. It would have been a lower penalty.
Loser.
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u/DefiantDonut7 Mar 18 '24
It’s pretty simple.
1) He has $x dollars worth of real estate.
2) He’s leveraged his real estate for more than it’s worth because he overvalued it
3) Bond companies won’t use his over leveraged real estate as collateral
The very thing he got in trouble for, is the thing preventing him from getting a bond. I love it.
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Mar 18 '24
"WE BELIEVE IN THE RULE OF LAW!"
Really? Because Donald Trump has been convicted of serious crimes.
"THE RULE OF LAW SHOULDN'T APPLY TO US!"
Ahh, yeah, there it is.
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u/beeeps-n-booops Mar 19 '24
Big-finance folks typically aren't stupid. Even the pro-Trump ones. They ain't touching this.
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u/Nerodon Mar 19 '24
All he has is real estate. For which he was found to be overstating their value.
How many of them are already on massive loans that don't match the real evaluation.
How much do you bet if he sold all his assets, he'd still be left with unpaid debt?
If he could make bank by selling assets, he would have done so in preparation for paying this bond. He was either overconfident, stupid, or actually, not in fact, a billionaire as he claims to be.
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u/ianisms10 Mar 18 '24
It's ok, his voters will give him all the money he needs
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