Donald Trump

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Irrev-Black
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Re: Donald Trump

Post by Irrev-Black »

Dollars!
Lawyers for Donald Trump asked a state appeals court to put a stay on New York Attorney General Letitia James’ right to collect roughly $450 million in damages from the former president. Trump was found liable for defrauding insurance companies and banks by giving them falsely inflated values for his properties—which meant he saved hundreds of millions on insurance policies and loan interest. In a trial last fall, James’ office successfully convinced Judge Arthur Engoron that Trump had cheated those financial institutions out of at least $355 million, and with penalties and interest the award rose to $455 million.

Trump does not have that kind of money—at least not in cash. While the value of the various properties he owns can be pegged in the billions of dollars, a recent estimate found that he likely only had around $350 million on hand. On top of that, he has also been ordered to pay more than $85 million in damages to writer E. Jean Carroll, who, a federal court found, Trump repeatedly defamed by mocking her and denying her allegations that he had sexually assaulted her. Trump is appealing all these verdicts. But as those appeals work their way through the court system, Trump will need to post bonds in excess of what he owes if he hopes to avoid having to immediately fork over the money to the plaintiffs. In the Carroll case, that’s $91 million—which he has already successfully secured from an insurance company. But in the fraud case, the figure would balloon to an astronomical to $557 million.

According to a filing Monday by Trump’s attorneys, Trump has been unable to find anyone willing to fund such an enormous bond on his behalf. According to his lawyers, Trump has queried more than 30 financial firms—including what they describe as the world’s largest insurance company—but none have been willing to front the cash. Part of the trouble, according to the filing, is that while Trump has assets that are theoretically worth more than enough to be used as collateral to secure the bond, the bond companies have little interest in being stuck with his hard assets—a Trump golf course, say—were he to ultimately default.

Instead, these companies want cash or cash equivalents—and they would charge Trump 2 percent interest, which his lawyers estimate would tack on another $18 million in costs.

This is particularly problematic for Trump because without such a bond, James would be able to collect the damages starting next week, and it’s nearly impossible to raise that kind of cash in a week. As Trump’s attorneys note, it would require a fire sale of properties he owns. With potential buyers fully aware that he is desperate for cash, he would almost certainly have to sell at a significant discount.
https://www.motherjones.com/politics/20 ... raud-case/
Greedy fuckers cannot self-regulate.
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Irrev-Black
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Re: Donald Trump

Post by Irrev-Black »

Who is going to put in a bid?
So the going is likely to get rough for Trump as this plays out, and he’s likely to become more financially desperate with each passing day. That’s going to make him easy prey for interested lenders — and an easy mark for overseas interests eager to influence US policy.
https://www.brisbanetimes.com.au/busine ... 5fdg9.html
Greedy fuckers cannot self-regulate.
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pipbarber
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Re: Donald Trump

Post by pipbarber »

https://www.theguardian.com/us-news/202 ... uth-social

Well, that'll help Trump's cost of living crisis. But somewhat perfectly for Trump, it's not really real, just paper wealth or is it alternative wealth. It's a dodgy as fuck investment of course and the only people who'll lose their money will be his followers. Trump will obviously attempt to sell his giant share allocation and if he loses election it'll all be worthless anyway.

Say what you like about the orange turd, but he is absolutely a top shelf grifter. If grift had a hall of fame he'd be the first inductee. Three decades of a business empire built on smoke and mirrors.
'The ultimate, hidden truth of the world is that it is something that we make, and could just as easily make differently.' David Graeber
stevebrooks
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Re: Donald Trump

Post by stevebrooks »

Irrev-Black wrote: Thu Mar 21, 2024 10:18 pm Who is going to put in a bid?
So the going is likely to get rough for Trump as this plays out, and he’s likely to become more financially desperate with each passing day. That’s going to make him easy prey for interested lenders — and an easy mark for overseas interests eager to influence US policy.
https://www.brisbanetimes.com.au/busine ... 5fdg9.html
His lawyers refuse to say whether or to he will seek funding from outside the country, Saudi Arabia and possibly Russia was suggested to them, but they stayed mum. Of course Jarad conveniently has 2 billion already of mystery money, surely he cold loan just over half a billion to dear old FIL? I suspect the problem there is, he knows FIl to well to even think about loaning him money, they, J and I would rather the bus rolls straight over him!
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stylofone
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Re: Donald Trump

Post by stylofone »

Trump on the stock exchange will be a "meme stock", i.e. one whose price is determined by factors outside the normal market influences. If Trump becomes President it will be an arm of the kleptocracy, because it will be used, like his twitter account in the bad old days, as a de facto Presidential Ministry for (Mis)Information. The price will soar if he even gets a good poll result before November. If he loses, it will crash, he will be in dire financial straits, so in a way it raises the stakes for him and makes him more desperate and dangerous.

https://www.msn.com/en-us/money/compani ... r-BB1kpKC9
I can feel it
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Irrev-Black
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Re: Donald Trump

Post by Irrev-Black »

Just in case(s) you were losing track of what Don Poorleone is facing in the courts, here's a summary of the current criminal matters:

https://www.bbc.com/news/world-us-canada-61084161
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Irrev-Black
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Re: Donald Trump

Post by Irrev-Black »

Sobering!
time.png
time.png (75.04 KiB) Viewed 121 times
Greedy fuckers cannot self-regulate.
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stevebrooks
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Re: Donald Trump

Post by stevebrooks »

Irrev-Black wrote: Tue Mar 26, 2024 6:24 pm Sobering!

time.png
Yep it's a matter of momentum, politicians are slow to react and make decisions, if you quickly hit them with one crisis after another they are still trying to react to the first one when they are 3 or 4 crisis in, and by then it's to late.
stevebrooks
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Re: Donald Trump

Post by stevebrooks »

Breaking news, the far right MAGA are becoming even more stupid! You can now buy titles from Donald Trump, whoohoo!
The highest level of contributions to the Trump 47 Committee – as the joint fundraising committee is known – is called “Ultra MAGA” and is designated for individuals who donate $814,600, the current limit that one person can currently donate to Trump 47.

The other levels include:

“Team Trump 2024” for those who donate $250,000.

“Team America First” for $100,000 contributions.

“Club 47” at $50,000.

“MAGA 24” at the $24,000 level.
https://edition.cnn.com/2024/03/29/poli ... index.html
stevebrooks
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Re: Donald Trump

Post by stevebrooks »

Hmm, in the middle of multiple court cases and 91 felonies, Trump has decided to sue the founders of Truth Social t try and cheat them out of their stock shares, funny that!
In papers filed last week in Florida state court, Trump Media & Technology Group Corp. argued that executives Wes Moss and Andy Litinsky made a series of costly mistakes that resulted in a long delay in the company’s going public and urged a judge to strip them of their shares in the company.
It appears Truth Social was indeed their baby and I would suggest that it was Trump that screwed it all up, I mean that's what he does right. Mind you this may be a revenge ploy because he was already being sued by them anyway!
Moss and Litinsky sued Trump's company in Delaware Chancery Court in February, alleging that he was trying to dilute their shares by increasing the total number of authorized shares in the firm from 120 million to 1 billion.
I mean I am sure he can afford another court case, he's a billionaire right?

https://www.nbcnews.com/politics/donald ... rcna146106
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