by Jeff Childers
Today is a political thriller. It is President Trump’s deadline to satisfy Judge Engoran’s stratospheric, unprecedented, probably unconstitutional $454 million dollar bond requirement. And nobody knows what he has planned. The Guardian UK ran a helpful, related story yesterday — a story that in their glee, U.S. corporate media outlets have studiously avoided — headlined “Seizing Trump’s New York properties will not be easy for Letitia James.” As I have said.
Now that James has her judgment, she is allowed to start collecting the money by garnishing and foreclosing on Trump’s properties. You might think that just filing the appeal should stop (‘stay’) the collections process; after all, the appellate court might reverse everything.
But way back in the very old days, some defendants used the appeal process to buy time for moving their assets out of the judgment’s reach. Obviously, Trump can’t move Trump Tower anywhere. But he could transfer the deed to a Cayman Island cutout or something. He should ask Biden how it’s done.
The law fixed that problem, by requiring defendants to “bond” the full amount of the judgment, if they to put collections on hold during the appeal. A “bond” is a third-party guarantee of payment, like insurance, or a bail bond, where a well-funded professional bonding company agrees to pay the judgment if the appeal loses — even if the defendant disappears.
Obviously, the bonding company itself must have the money to pay, which cuts down the list of possible providers in Trump’s mega bond case. And bond companies don’t take risks.They absolutely will not undertake a bond obligation without first getting collateral.
For example, to provide a $1 million dollar bond, a bonding company might first want a mortgage on the defendant’s house, and some liens on his cars. They won’t take just anything as collateral, like your collection of celebrity Pez dispensers. Trump Tower might be worth a few hundred million, but if it also has big bank loans, the bond company will probably pass.
Next, the more risk there is, the more the bond costs. Even though bonds are secured with collateral, customers “buy” the bonds. That’s how the bond seller makes money. In my experience, the average price of an appeal bond is ten percent (10%) of face value. In terms of this, this bond would be a unicorn. Nobody’s ever seen anything as big or like it. Plus it’s politics.
How could you possibly calculate the risk? What about the risk the democrats and the feds might try to cancel the bond company for helping Trump?
In other words, to buy an appeal bond — to stay collections during the appeal — Trump first must give the bonding company mortgages on collateral valued over $454 million (or even up to $600 million, with interest), and pay cash, at least $60 million, maybe more, as the bond price — money he’d never ever get back, regardless if he ultimately wins or loses.
There might not even be a bonding company big enough and crazy enough to get involved.
In hindsight, Judge Engoran’s “fine” looks calculated to drain Trump’s campaign account by effectively making it impossible to buy a bond. Trump could just put up the whole $500 million or so, depositing it in the court’s registry, and then he won’t need a bond.
Not coincidentally, $500 million is around the same amount Trump has in his presidential campaign account, as Judge Engoran (or anybody) could easily determine from Trump’s mandatory FEC filings.
If Trump can’t (or won’t) buy a bond or put up the money, he may still pursue the appeal. But in that case, Soros-backed District Attorney Letitia James can also start collecting, which is exactly what the TDS-infected corporate media can’t wait to see. The memes are already drowning the Internet.
But, as I’ve explained before, and as the Guardian article explained, it will be painfully difficult and tooth-gnashingly slow for James to collect Trump’s assets (though she’d get there eventually).
If Trump had any other way to come up with the money, he should do that, and not take a chance that some rogue judge will help James collect on an important asset.
Corporate media’s “Get Trump” hopes were dashed again when on Friday, the New York Times ran a (non-paywalled) story headlined, “Trump Media Merger Provides Trump a Potential Cash Lifeline.” With a quick bit of impressive financial wizardry and fast work, Trump’s Truth Social announced on Friday it had shareholder approval to merge with already-publicly-traded media company Digital World Acquisition Corporation, which trades as DWAC.
According to the Wall Street Journal, Truth Social could start trading on the stock market as soon as this week, when the paperwork is complete. It was great news, but it’s still not the whole answer. CBS News ran an article Friday headlined, “Trump could score $3.5 billion from Truth Social going public. But tapping the money may be tricky.” The ‘tricky’ part is that owners, like Trump, are normally barred from selling any shares for at least six months after a company goes public. Sellers can sometimes get that restriction waived, but that takes time, too.
For several intractable reasons, there is no feasible way Trump could access the Truth Social money today, in time to put up the money to stay collections. But, if Trump could borrow what he needed from a coalition of billionaires, he could pay them back pretty fast with interest after he gets his Truth Social money. How likely is that? Remember the name of Trump’s bestselling 2009 book:
Finally, the court of appeals yet to rule on Trump’s massive motion filed last week to reduce or eliminate the bond requirement. That ruling will come today, and we will learn whether New York’s appellate court will uphold Engoran’s ridiculous judgment and prove it has also lost its damned mind. Or, if it does the right thing, and starts pumping water out of New York’s sinking ship of business, the bond requirement could be waived or greatly reduced.
I wouldn’t dare to predict what will happen today in this insane case. If Trump can pull the cash together without bankrupting his campaign, it would be better to just deposit the whole amount with the court than buy an unimaginably-expensive appeal bond for $50 million, which would also tie up all his collateral.
Stay tuned.
I think that is a key factor. Trump has plenty of collateral. In fact, most of what he has is collateral; the leftist harpies can’t understand why Trump doesn’t have a billion dollars just laying around; all his money is WORKING. But, when there are no Constitutional protections any more, when, in Democrat districts, the courts can do anything they want, despite the law, to serve the political whims of the DNC, then a conscientious business would avoid the risks. That is part of the Democrat design.
The same people cheering these fascist actions against Trump would be cheering the Nazis kicking Jews out of professions and enforcing boycotts on their businesses. They would cheer the destroying of non-propaganda newspapers. They would celebrate Levrentiy Beria locking up dissidents. The Democrats are big fans of fascism.
Bond lowered to 175 million additional 10 days granted, Gregs head just exploded on this Monday, Monday.
Can’t trust that day, I guess.
Americans are waking up to an America they do not recognize. And one that they will oppose.
Lawfare has failed the democrats effort to stop Trump. Given his ever growing immense popularity, cheating may become even more problematic than lawfare.
Half the country hates the bastard.
Well then half the country is stupid and actively working against their own interests.
Bad start of Holy Week for democrats.
https://www.rawstory.com/trump-mcafee-hearing
Georgia judge sets hearing to consider dismissing Trump case on free speech grounds
“…McAfee has dismissed two similar motions by co-defendants Kenneth Chesebro and Sidney Powell. Both co-defendants later pleaded guilty…”
Is $175 million another Total Exoneration?
Was not the only thing that was slapped back.
Oh yes they can run their own businesses.
Exonerated from what? Where is the crime, other than on the prosecution and Judge?
Need a tissue big guy?
Financial fraud is a crime. The court established 200 separate instances of deliberate misrepresentation, adding up to billions of dollars.
No one was hurt as a result? Bullshit. Lenders don’t have an infinite supply of money to loan out. Every loan Trump got by lying about his assets deprived someone more honest of capital they needed.
No one was hurt not 1 person, there are a plethora of lenders. Some that decided home owners they lent money to were too far underwater to refinance the same property under a lower interest.
Right. Infinite money available, so who cares if he lied to get loans? Next up: The President and the Porn Star. Tacky adultery, a $130,000 hush money payment to keep the voters ignorant, and lies to cover that up.
As I’ve observed before, Trump is a curse on America. He’s like a recurring cancer. Or in the Stormy case, like a series of loud farts in the temple. He makes us look like a nation of complete idiots, and I resent the hell out of it.
Who didn’t get their loan because the banks ran out of money?
Daniels already stated there was no affair. Gee, looks like you’ve chosen a bad series of lies.
Nameless, faceless people. That doesn’t make a crime victimless–only easier to blow off and get away with.
We can’t name the names of most of those damaged by white collar crime.
Special Counsel Report Reveals University of Delaware Misled Courts to Hide Biden’s Senate Records That Likely Hold Sexual Assault Complaint Filed by Tara Reade
If I get busted for speeding, nobody was hurt, but I still broke the law.
They all got every dime they loaned back, with interest. They were all 100% satisfied unless you can provide a statement from a bank that isn’t. The only people hurt are the whining, crybaby leftists that fear facing an actual popular and successful candidate in a fair election. You’re all BUTTHURT.
So the only case in which the democrat law fare has a remote chance is the fat ass alvin bragg case where it is not a crime to pay for a nuisance to go away.
The lenders weren’t the victims. You might as well argue that insurance fraud hurts no one. In fact, everybody who pays premiums is hurt. You might as well argue that cheating on taxes hurts no one. In fact, it hurts every honest taxpayer.
Ah, so you don’t know what insurance fraud is, either. In that case, someone STEALS money from the insurance company. In the case of this bogus accusation, no one was out one nickel. In fact, NYC probably benefitted because Trump grew his business and paid MORE taxes.
It only hurts no one when it hurts no one. But, being a student of leftist economic theory where money is not the product of labor but, rather, just happens, you wouldn’t understand any of that.
There was no victim. Lenders set the terms of financing for loans. Lenders were made whole and profited from their business with Trump.
Obtaining a loan is a competition. Not everyone is approved. If you cheat by lying about your assets, you lessen the chances of others. Someone else doesn’t get a house, or doesn’t get what they need for their business.
Why do you think lying on loan applications is a crime?
Then provide the f**king party that was harmed, not some amorphous bullshit about he hurt someone because HE did it. WHO WAS HURT?
Why do you think lying on loan applications is a crime?
Why do you think Trump had the disclaimer on his appraisals? That completely clears him of any accusation.
Apparently the magical power of crossing his fingers behind his back doesn’t actually work.
So, you simply ignore that Trump had the disclaimer telling the lenders to do their own assessments. Well, I guess that’s the kind of delusional thinking that makes your fantasy world tick.
Lenders have a fiduciary responsibility to perform due diligence before extending a loan. Lenders therefore meticulously examine all data to verify the safety of the loan from potential default. In Trumps case the lenders were confident in the low risk factors.
Lying about the value of your assets to obtain a loan or more favorable terms IS A STATUTORY CRIME. There’s a very good reason for that.
PROVE that Trump overvalued his assets and provide your data. Just because you say he did because that’s what you want to believe is about as credible as a fart in a whirlwind.
That was proved in a New York courtroom, with about 200 specific examples adding up to billions in deliberately overstated values.
Overstated values for loan purposes, understated values for tax purposes. Lie after lie, to gain financial advantage and minimize tax liability.
So, provide some of them. When Engoron estimates that Mar a Lago is only worth about $18 million, one of intelligence might develop serious doubts about his understanding of real estate and property values. The case was decided by him and fat whale Latitia.
But the fact that the fine was so drastically reduced indicates it wasn’t proven as well as you want to think.
He didnt lie about his assets as per testimony from the banks and the real estate expert. The Judge did not use that testimony in his decision he used his own estimates of value, he isnt a real estate expert nor a developer of real estate.
Lets see his justification of value, maybe Trump needs a property tax rebate.
Andy McCarthy: “There are no victims, nobody got harmed by this—the state wasn’t deprived of any tax revenue…It’s a TERRIBLE CASE, but the judge has been pretty much a rubber stamp on everything that Bragg has wanted to do—including his theory…” https://DonaldJTrump.com
greg is not having a good start to Holy Week. And for him it will continue to go downhill. greg represents the tyranny of the minority.
I’m not sure, but I THINK he’s actually crying.
Slip him a midol and tissues maybe a hot chocolate.
If they cant stop Trump with their legal antics its doom.
It would appear Professor Turley would disagree with you. The hate you and a small cult of others have for President Trump is not a substitute for law.
This travesty of injustice will be overturned on appeal.
Who was defrauded?
The court rejected testimony from the banks and a real estate expert with a PHD.
They established their ignorance.
No one was hurt. Lenders set the terms of the financing agreement.
Yes, financial fraud IS a crime. The problem is, the only financial fraud here was carried out by Latitia, Engoron and the DNC. If there was no victims, there was no fraud. The only victim here has been Trump… and the concept of blind justice.
It’s confirmation that $464 million based on the political opinion of two far left ideologues was a travesty. The total exoneration will come when this national embarrassment is overturned on appeal.
President Trump did nothing wrong. The sunlight of truth will expose the judicial malfeasance by james and the lunatic judge.
More of that strangling of #MeToo and #BelieveHer when a Democrat is the rat.
03/25/24 – The Cases Against Trump: A Guide – Fraud. Hush money. Election subversion. Mar-a-Lago documents. One place to keep track of the presidential candidate’s legal troubles.
Nope. The Atlantic is not going to work for me. They have been caught lying too much. No wonder you cite it.
Nothing will work for Trump cultists. They’re a lost cause. They’ll either gloat or be bitter, but can’t be reasoned with. They’re nobody’s audience but Trump’s.
The Hush Money trial starts April 15th. More weeks of Trump’s bullshit, with no intelligent discussion about policy or urgent issues.
When a lot of other people seem to know things you don’t, including about your sources ….it just may be YOU who is stuck in a cult….
I don’t see much evidence that you know anything that hasn’t been Approved By Donald Trump for Cult Consumption.
Oh the cult thing again? Every single time you are on the wrong side of an argument.
My media says you are a cult so I mindlessly repeat it blah blah
Well, who’s fault is that? The leftist Ministry of Propaganda has lied, non-stop, ever since Trump announced he was a candidate in 2015. Everything from Russian collusion to insurrection has been a complete and total lie and The Atlantic is one of the worst.
If you don’t want the lawfare trials to interfere in the campaign, why do you worship those who have made this their strategy to counter Trump’s success compared to Robin Ware/Robert L. Peters/JRB Ware/Pedo Peter/idiot Biden’s incompetence, failure and disaster?
Ah, Comrade Greggie pimping for The Atlantic again. Just another American Pravda.
Name is criminal law that doesn’t require a victim.
Tic-toc, tic-toc.
I wonder if Trump had his late doctor’s office raided to remove records of his STD treatments?
His medical records belong to him they are not the doctors property. What ever medical treatments provided they are private. So far he seems to be very healthy even for someone much younger.
I wonder if you are running out of hoaxes to slavishly believe in?
Nah, you’re confused. It was Joe Biden who has a STD. He caught it from Dr. Jill.
And she got it from Hunter.
The stock is collateral. He still enjoys all the perks of ownership. If He hascoptions to buy, they may loan him that too.
https://twitter.com/RyanAFournier/status/1772632100497150412
greg is not feeling the love. Must be because of the hate cult he is part of.
Only the bond was reduced. Trump’s $454 million penalty remains, unless reduced by a successful appeal.
The order that Trump could not do business in NYC was revoked as well. You can dream all you want that Trump will have to pay that fine, but is simply will not survive. Of course, the judgement itself is based on NOTHING but the personal animus of a degenerate leftist judge and a power hungry attention whore seeking higher office AG. Then, the penalty is unconstitutional; no one anywhere suffered $1 in damages, much less $464,000,000. That not only violates the US Constitution, but New York law as well.
What this ridiculous judgement did was make it totally clear that these cases, all of them, are nothing but political lawfare. If you like this, you absolutely are a fascist.
Trump can use that money to fund his campaign and sue every motherf**ker that claimed he was broke, was a racist, took him to court on frivolous and invented charges or accused him of rape. That would put an end to that shit.
It’s a meme stock, expected to crash through the floorboards in very short order. Neither of the Trump corporate entities involved has intrinsic value anywhere near the total value of all shares sold. The game is to get in early, hold shares briefly, and then cash out at the peak before the crash.
Its also an advertisement platform a platform the feds cant control.
What Are Meme Stocks, and Are They Real Investments?
https://www.nytimes.com/2024/03/26/us/politics/texas-attorney-general-ken-paxton-texas-plea-deal-securities-fraud.html
You can start crying now. Your favorite AG has been cleared. boo hoo hoo.
He has to pay $300,000 in restitution to the people he damaged, do 100 hours of community service, and attend 15 hours in ethics courses. In return, Texas keeps it’s crooked Attorney General.
He has to pay $300,000 in restitution to the people he damaged, do 100 hours of community service, and attend 15 hours in ethics courses. In return, Texas keeps it’s Attorney General that continues to kick Biden’s ass.
Fixed it for you, Comrade Greggie.
You think this might be the first time out of thousands of predictions that you are right? You are an excellent reverse barometer.