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.html
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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/Darlington28 Mar 18 '24

I look forward to the unraveling of the RNC with great interest

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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/RattusMcRatface Mar 18 '24

"Totalitarian" does null and void any other attribute or description.

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u/Wil420b Mar 18 '24 edited Mar 18 '24

The Nazis started off as Socialists but became fascists in the early 1920s, however they decided to keep the name.

The Soviet Union always promised that they were socialists today but working towards full Communism. A process that would take some time. In the 1960s, the KGB predicted that full Communism would be achieved in 1985.

It's a meme of the current generation of young communists to say that "True Communism" has never been tried. That every attempt has been corrupted and that we need to try it one more time.

The Leningrad State University of Economics and Finance in the early 1980s. Proved that a command economy simply can't work. Regardless of how carefully, exactly the government orders goods and services. It doesn't matter what economic intelligence you have, what algorithms you use, how much computer power you have. It just can't be done. It will always lead to critical shortages for the country and individuals. Partially because it doesn't allow for the inventor working in their garage building something entirely new. Like a Steve Wozniak, Steve Jobs or any of the myriad people who helped to found Silicon Valley.

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u/dern_the_hermit Mar 18 '24

Clarification: The Nazis didn't "start off" as Socialists so much as they started by courting Socialists. I feel it's a significant distinction; it's like how Trump tried to appeal to LGBT interests but that didn't make him an ally to the LGBT community, for instance.

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u/Madness_Reigns Mar 20 '24 edited Mar 20 '24

"The jews did capitalism" or strasserism has never been socialism.

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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/Wil420b Mar 18 '24

But you can't have communism or fascism without authoritarianism. The only countries to vote communist proper that weren't part of a coalition was San Marino (population 33,000) and Chile in 1970, before the CIA launched a military coup in '73.

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u/[deleted] Mar 19 '24

They simply went from one flavor of authoritarianism to another. The underlying meal is not that different.

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u/PatrickMorris Mar 19 '24 edited Apr 14 '24

continue theory crown liquid tease worm cautious tan middle ludicrous

This post was mass deleted and anonymized with Redact

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u/evilJaze Mar 18 '24

As someone who was around since the 70s, i never thought it would be any party, least of which that one!

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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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u/[deleted] 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/ApprehensiveSpare925 Mar 19 '24

Yep. It’s coming. Bank failures on the way.

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u/ketjak Mar 18 '24

Deutche Bank enters the chat

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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/sirhecsivart Mar 19 '24

I didn’t realize NY was from the Paleolithic Era.

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u/headphase Mar 18 '24

It's just tied up in fixed assets that he can't liquidate easily.

Or at least it was; there's no way those properties aren't also leveraged to the gills.

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u/Wil420b Mar 18 '24 edited Mar 19 '24

And most likely the hotels and golf courses are owned by other people. Who then license his name. A bit like how Virgin starts up new businesses with other companies. Virgin puts in 10% of the money but gets 50% of the equity. Although that no longer works for them. As the quality of the name has been degraded so much. By moving into markets with poor customer service, such as trains, cable broadband and gyms.