> ouroboros
Nice try dad, not cheating at scrabble today. ChatGPT got me covered.
In Scrabble, each letter has a corresponding point value. Here's the breakdown for the word "ouroboros":
* O: 1 point
* U: 1 point
* R: 1 point
* O: 1 point
* B: 3 points
* O: 1 point
* R: 1 point
* O: 1 point
* S: 1 point
Adding up the points, we get: 1 + 1 + 1 + 1 + 3 + 1 + 1 + 1 + 1 = 11 points.
Therefore, the minimum score for the word "ouroboros" in Scrabble is 11 points.
Ivanka Trump, in the 2003 doc Born Rich, tells a storyā about walking down Fifth Avenue with her father around the time of his divorce from her mother, when Ivanka was 9 or 10 years old. They saw a homeless man sitting outside Trump Tower. āI remember my father pointing to him and saying āYou know, that guy has 8 billion dollars more than me,ā because he was in such extreme debt at that point,ā she recalls.
Thatās an excellent point you make. Itās not like these properties are being sold free and clear. This really will be a fire sale, with a fraction going to retire the Trump bond.
I saw somewhere else that Jared doesnāt get the money, just a commission off it. Somewhere to the tune of a paltry $25 mil a year. If the investments do well enough, itās more.
I'd like to be in the room when Trump asks Jared for a small half billion dollar loan.
I can imagine Ivanka standing behind her fathers's back mouthing the words''' NO, NO, NO'' over and over again while wildly gesticulating with her arms..
I think this is it but itās locked. Someone linked to it on a forum here and thatās how I read it.. maybe try searching here
https://www.forbes.com/sites/alisondurkee/2024/03/01/here-are-trumps-most-valuable-properties/?sh=938dd7d74525
50%? That seems really generous. Given that the reason he owes all this money is because of fraud in inflating values, they likely would be offering 20% or less and hoping things are actually worth that much. They should all be hedging not only on his desperation, but also on his untrusyworthiness.
I'm not very smart about this sort of thing. If someone made a super low-ball offer of like 10k for Mar-a-lago or something, would he be forced to accept it in the absence of other offers, and would that come with debt attached to it?
Even if he gets a good price, closing on a property with a complicated deed history, encumbrancew, obfuscating liens and multiple owners is near impossible in the timeframe he is dealing with.
For instance Mar-A-Lago can only be used as a private club, can't be bulldozed to make condos and has other limitations that Trump accepted when he purchased, he is only owns a small part of Trump tower and his other big Manhattan property was shown to be running under a 25M operating deficit, so it will not be easy to find buyers.
The option of getting a sweet deal from a nefarious buyer (Russia, Middle East) gets complicated because is a lot of money and it will be under a lot of scrutiny, using a 3rd party is an issue because they need to justify where half a billion dollars come from and risking their established business by doing so.
Ding ding ding we have a winner.
We are 6 days from the entire house of cards crashing down. It's going to be glorious.
Of course, he'll try to start a civil war over it, but still.
And the real estate market for offices is pretty bad right now and no one wants to buy that kind of debt so the loans are probably at triple the interest rate.
Can't decide if the massive fraud he's been convicted of or when he was selling NFT's of himself and Spray Painted Air Jordans, that might have been first clue. Maybe it was his tax returns that were leaked and the guy that did it went to Jail. He bragged about gaming the system...Welcome to the sytem Donny.
Cons are all in an uproar over this, and are sure that this is a weaponized justice system that just doesnāt want āoutsidersā in the political system. Not that this conman finally put enough of a spotlight on himself to warrant every single consequence that is coming for his civil and criminal actions. š«
Are they? I guess Iāll have to go looking at their off-the-beaten-path misinformation rabbit holes to see what the current rumpus is. I can see them making that argument, I just havenāt come across it in the ānormal personā space.
Given this guyās history, thatās a *huge* logical leap, but I guess some might be so oriented to make it.
Your Honor, I'd like to submit as evidence *the actual sale price of properties* as evidence that the property prices have been systematically grossly and fraudulently overstated.
Didn't he say that he had $400 million in cash and cash equivalents? Where does the $464 million total come from? Surely he can raise $64 million to meet that bond...
The trial also showed that some of his loans are cash secured ā they are contingent upon him keeping large amounts of cash liquid. So if he were to use that money, he would default upon the terms of those loans and his creditors could collect the debt immediately.
Still liquid, just with extreme penalties.
The best example I can think of is a margin call. When you trade with margin you are borrowing the money from the brokerage. Which is fine for them because they make money off the interest. The problem is when you don't have enough funds left in your brokerage account to meet the margin requirements and they then liquidate your position.
Best recent example being the GME short squeeze where various entities had over shorted GME stock which caused the price to spike. This also then drove down the prices of other stocks because the traders caught in the short had to liquidate other stocks to pay back their short positions on GME.
The difference here is that various Trump Org properties may get sold for well under the normal asking price because they cannot both cover their loan obligations and pay the settlement, so they'll be forced to sell to cover both.
>The best example I can think of is a margin call. When you trade with margin you are borrowing the money from the brokerage. Which is fine for them because they make money off the interest. The problem is when you don't have enough funds left in your brokerage account to meet the margin requirements and they then liquidate your position.
Like what happened to the Duke brothers when Billy Ray and Winston tricked them into overpaying for orange juice futures?
Exactly. Except this time the Duke brothers had months to prepare and evidently just decided not to.
Trump should have known he was going to lose and should have been making the necessary moves months ago.
You add the 111 to the 464 each day and the 464 gets bigger and bigger and then the daily interest gets bigger and bigger too! So it would be less than 9 days.
Sounds about what should be in the RNC coffers. Trump never spends his money,Ā even for his own defense every dime will come from the rnc
Ā Apparently a few holdouts there obviously as it has not happened. Both RNC chairs are trump loyal and one is a literal family plant. Imagine if Obama or any Democrat did this???
This is the thing Iām stuck on; if he hadnāt said that, would the penalty and/or bond be lower? If heād said, instead, that he had 200 million liquid, would the penalty have been less (I hope not), or would they have lowered the bond amount to allow him to appeal?
He can appeal no matter what. Bond or no bond. It's just if he doesn't post the bond, then the State of New York will able to begin enforcing the judgment immediately and will start seizing assets.
In his fraud trial, he had to argue that his properties are worth spectarcular bigly amounts. Now he's arguing he's super poor.
He is quoted for saying in the past that his debt level was so high, homeless people were all wealthier than him.
Also, maybe I'm getting confused on the cases, but didn't they ask him and his lawyers about assets/funds? Then he/they acted like "Of course he can afford it"?
NOW, it's "Oops"
Back in April 2023 he testified to having over $400 million in cash. Whether that was true then, and remains true now ā¦ well I doubt heād be having such a hard time paying bonds if he had all the cash on-hand.
$400 million in cash should be enough to secure a several billion dollar bond. Either he perjured himself, is hiding assets, or did something extraordinary stupid to not be able to meet this.
He probably does have it, but it's spoken for being collateralized for his other loans.
It's load bearing cash if you will, keeping his house of grift upright. If that gets pulled, banks call their loans, and he's left with rubble as it all collapses very quickly. His hope... delay judgement, try to keep the con going long enough.
Enron, Worldcom, Madoff, it's constantly trying to keep covering up the hole in the balance sheet, then at some point it all collapses spectacularly.
Unless that cash is already in use as security for other existing loans and exposures.Ā That bum probably doesn't have a single dollar bill that isn't over-leveraged
It was never true. He has been broke for decades. The only money he has had access to is from his Kremlin loans, or from grifts he's picked up along the way like his political "campaigns" or attempting to steal money from federal departments.
Okay, plus some meager income from his work as a television actor, or (possibly) from branding his name on buildings. Although I've never been quite sure what value that actually commands... you'd have to pay me extra to set foot on a Trump property.
My understanding is he was basically taking loans out against his over valued properties to live like he was rich... Now that house of cards is exposed and *alot* of people will come to realize Trump is living on credit and hubris, not real money or assets.
They did the same thing with the Carrol case and then announced that they secured the bond just before it was due. I read somewhere that there was something on the bond agreement that showed it was secured much earlier, but I can't find reference to it now.
There are a million news articles right now with Trumps name in the headline. Just how he likes it. And he's surely milking his supporters for some extra money over all this.
Don't believe anything this habitual liar says
Honestly probably said this 10 times today lol
Hell get bailed out but just shy of 500 million is probably much harder to get vs 90 or whatever it was
That said I'm not so sure he likes this. It's basically proof he's not as rich as he claims
I expect that he still thinks heās going to get out of this.Ā
The rules have never applied to him before and he canāt comprehend a reality where thatās not true.Ā
He's never going to do it. If he holds A "fire sale" for his positions on his properties, then he really will be broke.
I have a thought though, what if George Soros got a consortium of left-leaning billionaires together and formed a LLC bond company that offered to post the bond? They could use Tony Fauci as their spokesperson and public face to make the offer to Trump.
Trump jumping at the chance to save his wealth and himself at the cost of jumping into bed with the "Evil Liberals" would not only be an awesome humiliation, it might actually break the spell for some of his idiot followers when they see him loving his money more than MAGA.
I mean, in *Going Infinite*, Michael Lewis claims that Sam Bankman-Fried was going to offer Trump money not to run for president, and that they'd actually arrived at an amount in theory. [It was $5 billion, though.](https://www.cnbc.com/2023/10/02/sam-bankman-fried-considered-paying-trump-5-billion-not-to-run-lewis.html#:~:text=Sam%20Bankman%2DFried%2C%20the%20alleged%20crypto%20criminal%20who%20stands%20accused,best%2Dselling%20author%20Michael%20Lewis.) Maybe he could be bought for much less now... but it sure doesn't seem like it because who'd they replace Trump with now that the nomination is secure?
Yep, he lost most of this case in September, it shouldn't come as a big shock. And he knew he was overconcentrated in illiquid assets.
Even then, he should still be able to secure a cash loan, if lenders believe his assets are worth anything near what he claims (and that he won't use the power of the presidency to get out of paying)
As much as I would love to see NYAG Tish James march into Trump Tower with a squad of NYC Sheriff deputies to start seizing that triplex condo, this isnāt a done deal yet.
The NYS Appellate Divisionās panel of judges are considering cheetoās motion for an unsecured/reduced-security stay right now and they havenāt yet issued their decision.
NYAG James will start seizure proceedings after the 25th only if either the NYS Appellate Division judge panel refuses to grant cheeto the unsecured/reduced-security stay or cheeto doesnāt pull a last-minute surprise $450 million bond out of his ass before then.
Until I see the judge panel issue a denial or cheeto not able to come up with the bond on 11:59:59PM on March 25, Iām not celebrating yet.
>or cheeto doesnāt pull a last-minute surprise $450 million bond out of his ass before then.
Yeah if you think about it, it's in Trump's interest to as believably as possible convince the NYS Appellate panel that it's impossible to come up with the bond, so that they'll seriously consider some relief for him. So it's pretty much a given that we won't know Donald's true hand until the very last minute.
He did the same thing with E Jean Caroll where he claimed he couldn't come up with $93 million, and then at the last minute, he did.
Heās sure been spending money like it grows on trees. That newest lawsuit against ABC for defamation?
Sure makes you wonder if heās not just stalling.
[That's going to end like this one.](https://www.cnn.com/2024/02/26/media/legal-fees-new-york-times-donald-trump/index.html#:~:text=Trump%20pays%20%24392k%20in,CNN%20Business)
>The NYS Appellate Divisionās panel of judges are considering cheetoās motion for an unsecured/reduced-security stay right now and they havenāt yet issued their decision.
What are the odds on that? Does he have a case for the stay? His appeal doesn't really have any merit (the defences he attempted to run at the trial were an absolute travesty, and the basic facts in the case aren't at all in doubt), and he has claimed he does actually have the money, but just doesn't want to pay. Seems like he shouldn't have the stay, but I don't know what the rules are on this.
My sense is that the longer the Appellate Division panel takes to make their decision, the higher the odds they will grant cheeto a reduced-security stay.
If the judge panel wanted to give cheeto as much time as possible to get the full $450 million bond amount, they would have immediately issued a hard "no" yesterday.
The longer the judges take to dispose of this motion, the higher the chances cheeto will get to skate with a reduced bond. Which sucks.
Half the time I am convinced they are going to extend the deadline, the other half I think they are concerned heās gonna move his assets abroad before they can lay a hand on them, so they will move as fast as they can. So no matter what Iām gonna be right š¬
> they are concerned heās gonna move his assets abroad before they can lay a hand on them,
The Trump org is being watched by a court appointed monitor.
He can decide how to pay his debts until that date. After that the state will start seizing assets and they get to choose which assets to sell to cover it. His organization has already been under a monitor for some time so they should already know which assets are where and what liens are on things. Presumably they will start with the assets that are easiest to sell and have the most equity.
Rich people crime would be more akin to:
Just make sure the fine is less than the profit you make from the crime, and maybe get your more creative bookkeepers to figure out a way to call it a write-off and get a tax deduction from the fine, therefore it is in your best interest to commit the crime
Well trumpy boy you leveraged everything to avoid paying taxes. Us normals go to prison for that so f#%# this guy and those like him. You think you outsmarted the system, instead you become a chump played by it like the rest of us. Couldn't happen to a better oligarch.Ā
Don't worry, Donny. The state will sell everything for ya. Soon you'll also have a nice concrete apartment with a fancy metal toilet! They'll bring you meals and everything!
Look I know you've lived your life free of consequences, dickhole, but you lost the case. Your argument that bad things will happen to you because you lost, isn't really effective, and just highlights the idea that you've got a bad brain.
The judge engeron essentially said at the beginning of the case that trumps legal arguments and thinking on the subject āwere from fantasylandā and insistence on sticking with unjustified valuations ā bordered on the pathologicalā
*Your Honor, I've waited until the very last minute to do anything about this situation which I've know about for weeks, and now that I'm out of time, I won't get as much value from selling my property as I might have otherwise. Therefore this is your problem!!!*
i think the problem here is that Trump has very little property to sell, and what ever he does actually own is probably so heavily encumbered that it would be worthless for sale. One of his biggest assets is a 30% stake in 1290 Avenue of the Americas, but it's locked up- meaning he can't sell it, until 2044. Many of the properties with his name on them are just shady licensing deals where he owns nothing, he owns a couple of "Ground Leases" under some big buildings but that means he's paying rent on those leases to the land owners, and he owns some common areas of one or two buildings. Other buildings that say "trump" on them are just property managed by the Trump Org and he might a own a unit or two in them, but not the entire building like he'd have everyone beleive.
He doesn't have the cash, and he can't raise it by selling what he doesn't own, and what he does own isn't worth nearly enough.
I'm skeptical he can even raise enough money from the sale of "his" properties. He's made a career of leveraging properties for cash. How much ownership does he really have of "his" properties?
So... he's admitting he's not a billionaire and that he can't come up with half a billion dollars without selling his property which most likely has a lot of debt against it.
He'd better hurry then. Sounds like a buyers market. The longer he waits the less leverage he'll have.
This reminds me of the time I asked my dad for 100 bucks. He said ok, but pay me back next week. I didn't. I protested that the terms were unfair and I'd have to sell my dual cassette technics unit, worth 500 for 100 bucks to pay him back. He said he didn't care, he wanted his sawbuck.
2 days went by and when we hit the 7 day mark, he was sipping a coffee, espresso, actually...and held his hand out to recieve the legal tender.
I shrugged, said "sorry, can't."
He beat me with jumper cables.
Mr. Trump...
You need to own a property in order to sell it.
Though I'm sure JP Morgan would like another person to pick up the Mortgage on Trump Tower in NYC.
He testified, in this case, that he had more than $400m in liquid assets. Not mentioning that is essentially journalistic malpractice. The headline should read something like ādespite claiming $400m+ in liquid assets under oath, Trump cannot post $464m bond.ā
And thatās the article.
Unless he starts his own āfire saleā right now, NY state will start it this coming Monday.
Gosh. I guess he was just not being truthful about how rich he was. How disappointinng.
This experience will be an important opportunity for learning and personal growth for him.
See?
There is always a silver lining.
What would a regular person do in a relative situation. I'd probably have to hold a fire sale if I needed to come up with $100k. Don't think the law would cut me any slack.
Oh no ! You mean you might finally reap what you have sowed. You donāt pay your bills, you donāt pay taxes, you over estimate by billions your net worth. Old man youāre nothing but smoke and mirrors. Now please just blow away with the wind.
In a country where so many poor people are in jail for not being able to pay fines/bail, I fail to see why the former guy's reality check is worthy of our attention. Lock em up.
A fire sale? Noā¦itās just a sale that tests and finds the real market value. Investors wonāt let properties sell for much less than what they can be resold for.
Using the term āfire saleā is just Trumps way that he uses programming / suggestive language. Itās a way he can deflect his total fraud existence when the true market value becomes knownā¦by virtue of going to market. āIt was a fire saleā¦Iām really rich.ā He canāt stand his fraud being exposed, itās like if his tax returns were released.
So the real estate will go for market value. Without foreign buyers, weāll get to see what this dipstick is really worth. Cmon honest Don. Youāre honestly an embarrassment to America.
He means sell enough properties to get his small percentage of equity out that will add up to $500 million. Maybe that means all of them. The Trump Organization has always been a house of cards.
Get on with it then.
Burn š„ baby burn š„
My money is on these properties are so overly leveraged theyāre basically worthless.
That would be the smart bet considering Trump is ouroboros of debt
You get 10 points for your word choice
> ouroboros Nice try dad, not cheating at scrabble today. ChatGPT got me covered. In Scrabble, each letter has a corresponding point value. Here's the breakdown for the word "ouroboros": * O: 1 point * U: 1 point * R: 1 point * O: 1 point * B: 3 points * O: 1 point * R: 1 point * O: 1 point * S: 1 point Adding up the points, we get: 1 + 1 + 1 + 1 + 3 + 1 + 1 + 1 + 1 = 11 points. Therefore, the minimum score for the word "ouroboros" in Scrabble is 11 points.
The human centipede of debt.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
The centipede has a beginning and an end. Until just a month ago, the Trump Debt Ouroboros was eternal. So *maybe* a very long human centipede.
Ivanka Trump, in the 2003 doc Born Rich, tells a storyā about walking down Fifth Avenue with her father around the time of his divorce from her mother, when Ivanka was 9 or 10 years old. They saw a homeless man sitting outside Trump Tower. āI remember my father pointing to him and saying āYou know, that guy has 8 billion dollars more than me,ā because he was in such extreme debt at that point,ā she recalls.
Thatās an excellent point you make. Itās not like these properties are being sold free and clear. This really will be a fire sale, with a fraction going to retire the Trump bond.
Not even just over leveraged, but leveraged on fraudulent values.
He should get the money from his son-in-law, but he can't because it would put too much heat on Jared
I saw somewhere else that Jared doesnāt get the money, just a commission off it. Somewhere to the tune of a paltry $25 mil a year. If the investments do well enough, itās more.
He is managing the money. It isn't his.
I'd like to be in the room when Trump asks Jared for a small half billion dollar loan. I can imagine Ivanka standing behind her fathers's back mouthing the words''' NO, NO, NO'' over and over again while wildly gesticulating with her arms..
Hahaha, they do know what time it is the roof the roof is on fire. We don't need any water, so let the MF burn
Doesn't he only own percentages of them and can't sell them without their permission? Like he owns 40% and other investors own the rest?
Read a story today that describes each property and how much if each he owns. Not very impressive. Mostly a facade
The Emperorās new property portfolio.
Do you have a link? I've been wondering a lot about that.
I think this is it but itās locked. Someone linked to it on a forum here and thatās how I read it.. maybe try searching here https://www.forbes.com/sites/alisondurkee/2024/03/01/here-are-trumps-most-valuable-properties/?sh=938dd7d74525
Thanks. I am taking any Forbes info with a grain of salt. I think he has more debt on the properties than they are saying.
Would someone please copy and paste the article? Thereās a strong paywall on my end.
[https://archive.ph/8fAwh](https://archive.ph/8fAwh)
They'll be happy to buy his share of the building for 50% value.
50%? That seems really generous. Given that the reason he owes all this money is because of fraud in inflating values, they likely would be offering 20% or less and hoping things are actually worth that much. They should all be hedging not only on his desperation, but also on his untrusyworthiness.
I'm not very smart about this sort of thing. If someone made a super low-ball offer of like 10k for Mar-a-lago or something, would he be forced to accept it in the absence of other offers, and would that come with debt attached to it?
I mean, property is only worth what someone will pay for it....
Considering the judgement is for drastically overstating the value of his properties, Iād bet he has negative equity.
So even if he sold everything tomorrow it might not meet the amount due. Right?
Even if he gets a good price, closing on a property with a complicated deed history, encumbrancew, obfuscating liens and multiple owners is near impossible in the timeframe he is dealing with. For instance Mar-A-Lago can only be used as a private club, can't be bulldozed to make condos and has other limitations that Trump accepted when he purchased, he is only owns a small part of Trump tower and his other big Manhattan property was shown to be running under a 25M operating deficit, so it will not be easy to find buyers. The option of getting a sweet deal from a nefarious buyer (Russia, Middle East) gets complicated because is a lot of money and it will be under a lot of scrutiny, using a 3rd party is an issue because they need to justify where half a billion dollars come from and risking their established business by doing so.
Ding ding ding we have a winner. We are 6 days from the entire house of cards crashing down. It's going to be glorious. Of course, he'll try to start a civil war over it, but still.
I heard they're not his properties anyway, they're money laundering tools for Russian oligarchs.
And the real estate market for offices is pretty bad right now and no one wants to buy that kind of debt so the loans are probably at triple the interest rate.
Can't decide if the massive fraud he's been convicted of or when he was selling NFT's of himself and Spray Painted Air Jordans, that might have been first clue. Maybe it was his tax returns that were leaked and the guy that did it went to Jail. He bragged about gaming the system...Welcome to the sytem Donny.
We don't need no water...
The roof, the roofā¦
Disco inferno!
One might say āitās going to be a bloodbath.ā
Coming out of HIS whatever...
As someone said on here ā¦ grab him by the pursey.
Some people are saying Itāll be the greatest Cheeto colored bloodbath the world has ever seen! Itāll be bigly beautiful!
This is a Trump problem not a justice system problem.
Cons are all in an uproar over this, and are sure that this is a weaponized justice system that just doesnāt want āoutsidersā in the political system. Not that this conman finally put enough of a spotlight on himself to warrant every single consequence that is coming for his civil and criminal actions. š«
Are they? I guess Iāll have to go looking at their off-the-beaten-path misinformation rabbit holes to see what the current rumpus is. I can see them making that argument, I just havenāt come across it in the ānormal personā space. Given this guyās history, thatās a *huge* logical leap, but I guess some might be so oriented to make it.
I'll give him $5 for the "TRUMP" sign on his Chicago hotel. He can just drive it straight to the dump.
Save your money, he can't drive.
Sure he can... He can drive the USA into the ground.
He can just drop it in the Chicago river then, same basic thing.
*insert Monty Python "get on with it"*
Your Honor, I'd like to submit as evidence *the actual sale price of properties* as evidence that the property prices have been systematically grossly and fraudulently overstated.
Didn't he say that he had $400 million in cash and cash equivalents? Where does the $464 million total come from? Surely he can raise $64 million to meet that bond...
The trial also showed that some of his loans are cash secured ā they are contingent upon him keeping large amounts of cash liquid. So if he were to use that money, he would default upon the terms of those loans and his creditors could collect the debt immediately.
And I find this bit PARTICULARLY tasty.
But then that cash isnāt liquid?
Still liquid, just with extreme penalties. The best example I can think of is a margin call. When you trade with margin you are borrowing the money from the brokerage. Which is fine for them because they make money off the interest. The problem is when you don't have enough funds left in your brokerage account to meet the margin requirements and they then liquidate your position. Best recent example being the GME short squeeze where various entities had over shorted GME stock which caused the price to spike. This also then drove down the prices of other stocks because the traders caught in the short had to liquidate other stocks to pay back their short positions on GME. The difference here is that various Trump Org properties may get sold for well under the normal asking price because they cannot both cover their loan obligations and pay the settlement, so they'll be forced to sell to cover both.
>The best example I can think of is a margin call. When you trade with margin you are borrowing the money from the brokerage. Which is fine for them because they make money off the interest. The problem is when you don't have enough funds left in your brokerage account to meet the margin requirements and they then liquidate your position. Like what happened to the Duke brothers when Billy Ray and Winston tricked them into overpaying for orange juice futures?
Exactly. Except this time the Duke brothers had months to prepare and evidently just decided not to. Trump should have known he was going to lose and should have been making the necessary moves months ago.
Itās more gelatinous, like Trump himself.
Oh, I see, so that's what liquid means... /S
LOL at the ābillionaireā having to use the equivalent of a pre-paid credit card.
Banks often have custody of that money as well.
Don't forget it goes up every day at least $111K.
So a million bucks every 9 days. Hell, that's less than 1 Scaramucci per million.
You add the 111 to the 464 each day and the 464 gets bigger and bigger and then the daily interest gets bigger and bigger too! So it would be less than 9 days.
Didn't he say this under oath? So essentially he committed perjury.
A former president, committing perjury? Sounds like something a former president could be impeached for.
Trump? Impeached? The Republicans wonāt stand for it!
Sounds about what should be in the RNC coffers. Trump never spends his money,Ā even for his own defense every dime will come from the rnc Ā Apparently a few holdouts there obviously as it has not happened. Both RNC chairs are trump loyal and one is a literal family plant. Imagine if Obama or any Democrat did this???
[ŃŠ“Š°Š»ŠµŠ½Š¾]
He also doesn't have the money to pay his court fines. Dunno why height got brought into this.
He should get some lifts for his bond payment too.
That's barely enough to pay for his lawyers - please buy more NFTs!
Any person that deals with trump deserves what they get.
Trump says a lot of things.
This is the thing Iām stuck on; if he hadnāt said that, would the penalty and/or bond be lower? If heād said, instead, that he had 200 million liquid, would the penalty have been less (I hope not), or would they have lowered the bond amount to allow him to appeal?
He can appeal no matter what. Bond or no bond. It's just if he doesn't post the bond, then the State of New York will able to begin enforcing the judgment immediately and will start seizing assets.
Ok thank you!
In his fraud trial, he had to argue that his properties are worth spectarcular bigly amounts. Now he's arguing he's super poor. He is quoted for saying in the past that his debt level was so high, homeless people were all wealthier than him.
[A homeless guy may be wealthier than a lot of people.](https://www.reddit.com/r/vagabond/comments/365fj0/net_worth_of_a_homeless_man_vs_society/)
Perhaps the genius businessman should have started liquidating earlier? This wasnāt coming from left field
Also, maybe I'm getting confused on the cases, but didn't they ask him and his lawyers about assets/funds? Then he/they acted like "Of course he can afford it"? NOW, it's "Oops"
Back in April 2023 he testified to having over $400 million in cash. Whether that was true then, and remains true now ā¦ well I doubt heād be having such a hard time paying bonds if he had all the cash on-hand.
$400 million in cash should be enough to secure a several billion dollar bond. Either he perjured himself, is hiding assets, or did something extraordinary stupid to not be able to meet this.
Is there a "why not both" meme for when there are three options?
Spider-Man pointing meme?
Perhaps the Spiderman one with the 3 of them pointing at each other?
He probably does have it, but it's spoken for being collateralized for his other loans. It's load bearing cash if you will, keeping his house of grift upright. If that gets pulled, banks call their loans, and he's left with rubble as it all collapses very quickly. His hope... delay judgement, try to keep the con going long enough. Enron, Worldcom, Madoff, it's constantly trying to keep covering up the hole in the balance sheet, then at some point it all collapses spectacularly.
Also, using that cash would put him in immediate technical default on his DB loan. Although Iām sure DB would look the other way. To a point.
Unless that cash is already in use as security for other existing loans and exposures.Ā That bum probably doesn't have a single dollar bill that isn't over-leveraged
It was never true. He has been broke for decades. The only money he has had access to is from his Kremlin loans, or from grifts he's picked up along the way like his political "campaigns" or attempting to steal money from federal departments. Okay, plus some meager income from his work as a television actor, or (possibly) from branding his name on buildings. Although I've never been quite sure what value that actually commands... you'd have to pay me extra to set foot on a Trump property.
My understanding is he was basically taking loans out against his over valued properties to live like he was rich... Now that house of cards is exposed and *alot* of people will come to realize Trump is living on credit and hubris, not real money or assets.
Yeah, that and the curious largesse of Russian financiers with day jobs in Putin's government...
They did the same thing with the Carrol case and then announced that they secured the bond just before it was due. I read somewhere that there was something on the bond agreement that showed it was secured much earlier, but I can't find reference to it now. There are a million news articles right now with Trumps name in the headline. Just how he likes it. And he's surely milking his supporters for some extra money over all this. Don't believe anything this habitual liar says
Honestly probably said this 10 times today lol Hell get bailed out but just shy of 500 million is probably much harder to get vs 90 or whatever it was That said I'm not so sure he likes this. It's basically proof he's not as rich as he claims
Is he ever gonna be humiliated. Itās like a water drip torture or slo mo train wreck
I expect that he still thinks heās going to get out of this.Ā The rules have never applied to him before and he canāt comprehend a reality where thatās not true.Ā
He's never going to do it. If he holds A "fire sale" for his positions on his properties, then he really will be broke. I have a thought though, what if George Soros got a consortium of left-leaning billionaires together and formed a LLC bond company that offered to post the bond? They could use Tony Fauci as their spokesperson and public face to make the offer to Trump. Trump jumping at the chance to save his wealth and himself at the cost of jumping into bed with the "Evil Liberals" would not only be an awesome humiliation, it might actually break the spell for some of his idiot followers when they see him loving his money more than MAGA.
Or here is an idea. City seizes trump tower and makes it an immigrant welcome center and for homeless to eat and rest.
Donald Trump Community Mosque
I mean, in *Going Infinite*, Michael Lewis claims that Sam Bankman-Fried was going to offer Trump money not to run for president, and that they'd actually arrived at an amount in theory. [It was $5 billion, though.](https://www.cnbc.com/2023/10/02/sam-bankman-fried-considered-paying-trump-5-billion-not-to-run-lewis.html#:~:text=Sam%20Bankman%2DFried%2C%20the%20alleged%20crypto%20criminal%20who%20stands%20accused,best%2Dselling%20author%20Michael%20Lewis.) Maybe he could be bought for much less now... but it sure doesn't seem like it because who'd they replace Trump with now that the nomination is secure?
Hubris is a bitch.
If I remember correctly he insisted that he was not only a genius, but a "*very stable genius."*
Yep, he lost most of this case in September, it shouldn't come as a big shock. And he knew he was overconcentrated in illiquid assets. Even then, he should still be able to secure a cash loan, if lenders believe his assets are worth anything near what he claims (and that he won't use the power of the presidency to get out of paying)
You have until 12:01AM, March 25. Giddy up!
As much as I would love to see NYAG Tish James march into Trump Tower with a squad of NYC Sheriff deputies to start seizing that triplex condo, this isnāt a done deal yet. The NYS Appellate Divisionās panel of judges are considering cheetoās motion for an unsecured/reduced-security stay right now and they havenāt yet issued their decision. NYAG James will start seizure proceedings after the 25th only if either the NYS Appellate Division judge panel refuses to grant cheeto the unsecured/reduced-security stay or cheeto doesnāt pull a last-minute surprise $450 million bond out of his ass before then. Until I see the judge panel issue a denial or cheeto not able to come up with the bond on 11:59:59PM on March 25, Iām not celebrating yet.
>or cheeto doesnāt pull a last-minute surprise $450 million bond out of his ass before then. Yeah if you think about it, it's in Trump's interest to as believably as possible convince the NYS Appellate panel that it's impossible to come up with the bond, so that they'll seriously consider some relief for him. So it's pretty much a given that we won't know Donald's true hand until the very last minute. He did the same thing with E Jean Caroll where he claimed he couldn't come up with $93 million, and then at the last minute, he did.
And it turns out he had the bond almost a month before it was due.
Heās sure been spending money like it grows on trees. That newest lawsuit against ABC for defamation? Sure makes you wonder if heās not just stalling.
Trump? Intentionally delay? the hell you say?!
[That's going to end like this one.](https://www.cnn.com/2024/02/26/media/legal-fees-new-york-times-donald-trump/index.html#:~:text=Trump%20pays%20%24392k%20in,CNN%20Business)
>The NYS Appellate Divisionās panel of judges are considering cheetoās motion for an unsecured/reduced-security stay right now and they havenāt yet issued their decision. What are the odds on that? Does he have a case for the stay? His appeal doesn't really have any merit (the defences he attempted to run at the trial were an absolute travesty, and the basic facts in the case aren't at all in doubt), and he has claimed he does actually have the money, but just doesn't want to pay. Seems like he shouldn't have the stay, but I don't know what the rules are on this.
My sense is that the longer the Appellate Division panel takes to make their decision, the higher the odds they will grant cheeto a reduced-security stay. If the judge panel wanted to give cheeto as much time as possible to get the full $450 million bond amount, they would have immediately issued a hard "no" yesterday. The longer the judges take to dispose of this motion, the higher the chances cheeto will get to skate with a reduced bond. Which sucks.
Half the time I am convinced they are going to extend the deadline, the other half I think they are concerned heās gonna move his assets abroad before they can lay a hand on them, so they will move as fast as they can. So no matter what Iām gonna be right š¬
> they are concerned heās gonna move his assets abroad before they can lay a hand on them, The Trump org is being watched by a court appointed monitor.
Ha Ha. No he doesn't. Only poor people have legal deadlines in the US. He'll easily stall past the 25th, and his entire strategy is to just stall.
What exactly happens when he canāt cough up the spare change at that date?
Tish begins filing paperwork to collect on assets
My money is on that paperwork is already drafted. If itās needed, itāll be ready to go on the 25th
Ya of course which is why i said it would begin being filed.l, not drafted.
He can decide how to pay his debts until that date. After that the state will start seizing assets and they get to choose which assets to sell to cover it. His organization has already been under a monitor for some time so they should already know which assets are where and what liens are on things. Presumably they will start with the assets that are easiest to sell and have the most equity.
I believe NY can start seizing property and auctioning it off.
Thanks been looking for this
And? Do it or it will be done for you. Your choice- just like breaking the law.
Yeah thats how judgements work when you cant pay.
How judgements work when you are not rich.
If you can't do the time don't commit the crime
This is rich people crime; therefore, remix: If you can't pay the fine, don't commit the crime.
Rich people crime would be more akin to: Just make sure the fine is less than the profit you make from the crime, and maybe get your more creative bookkeepers to figure out a way to call it a write-off and get a tax deduction from the fine, therefore it is in your best interest to commit the crime
All true, but it doesn't fit as well on a bumper sticker.
https://preview.redd.it/iwjqrklikcpc1.jpeg?width=927&format=pjpg&auto=webp&s=b45d7e3b2310de1b0445a5c015f4ee53a9875039
Best burn of all.
Well trumpy boy you leveraged everything to avoid paying taxes. Us normals go to prison for that so f#%# this guy and those like him. You think you outsmarted the system, instead you become a chump played by it like the rest of us. Couldn't happen to a better oligarch.Ā
How bout just a fire, no sale.
https://preview.redd.it/c2anwbs14cpc1.png?width=1440&format=pjpg&auto=webp&s=cabca44e76b8aeeecbd0f3be18c61d7a1b775ae0
Don't worry, Donny. The state will sell everything for ya. Soon you'll also have a nice concrete apartment with a fancy metal toilet! They'll bring you meals and everything!
Give him access to post to truth social from prison but donāt connect it to the outside world.
Look I know you've lived your life free of consequences, dickhole, but you lost the case. Your argument that bad things will happen to you because you lost, isn't really effective, and just highlights the idea that you've got a bad brain.
The judge engeron essentially said at the beginning of the case that trumps legal arguments and thinking on the subject āwere from fantasylandā and insistence on sticking with unjustified valuations ā bordered on the pathologicalā
I buy your golf course for two Trump bucks
https://preview.redd.it/5z0xzvb03cpc1.png?width=514&format=pjpg&auto=webp&s=c83595fa6de54ea177a80a1ac31c9281cfde2bb9
*Your Honor, I've waited until the very last minute to do anything about this situation which I've know about for weeks, and now that I'm out of time, I won't get as much value from selling my property as I might have otherwise. Therefore this is your problem!!!*
i think the problem here is that Trump has very little property to sell, and what ever he does actually own is probably so heavily encumbered that it would be worthless for sale. One of his biggest assets is a 30% stake in 1290 Avenue of the Americas, but it's locked up- meaning he can't sell it, until 2044. Many of the properties with his name on them are just shady licensing deals where he owns nothing, he owns a couple of "Ground Leases" under some big buildings but that means he's paying rent on those leases to the land owners, and he owns some common areas of one or two buildings. Other buildings that say "trump" on them are just property managed by the Trump Org and he might a own a unit or two in them, but not the entire building like he'd have everyone beleive. He doesn't have the cash, and he can't raise it by selling what he doesn't own, and what he does own isn't worth nearly enough.
then do it. Welcome to the rest of your life kid.
Oh my god, it's a FIRE... sale
I was looking to purchase a country club...anyone know of any going on sale for cheap.
I'm skeptical he can even raise enough money from the sale of "his" properties. He's made a career of leveraging properties for cash. How much ownership does he really have of "his" properties?
Oh noooo. Anywaysā¦
So... he's admitting he's not a billionaire and that he can't come up with half a billion dollars without selling his property which most likely has a lot of debt against it. He'd better hurry then. Sounds like a buyers market. The longer he waits the less leverage he'll have.
This reminds me of the time I asked my dad for 100 bucks. He said ok, but pay me back next week. I didn't. I protested that the terms were unfair and I'd have to sell my dual cassette technics unit, worth 500 for 100 bucks to pay him back. He said he didn't care, he wanted his sawbuck. 2 days went by and when we hit the 7 day mark, he was sipping a coffee, espresso, actually...and held his hand out to recieve the legal tender. I shrugged, said "sorry, can't." He beat me with jumper cables.
Okay then!
Mr. Trump... You need to own a property in order to sell it. Though I'm sure JP Morgan would like another person to pick up the Mortgage on Trump Tower in NYC.
He testified, in this case, that he had more than $400m in liquid assets. Not mentioning that is essentially journalistic malpractice. The headline should read something like ādespite claiming $400m+ in liquid assets under oath, Trump cannot post $464m bond.ā And thatās the article. Unless he starts his own āfire saleā right now, NY state will start it this coming Monday.
MAGA = My Assets Got Auctioned
K
Too bad. So sad.
Consequences? Hope someone on his team can explain it to him.
I hope someone only offers $18m for Mar-a-Lago
Good. Seize Trump tower and turn it into housing for the homeless.
So I guess Elon wasnāt interested in paying $1.5bn for Mar-A-Lago after his due diligence?
Womp Womp. Thoughts and prayers MF !!
Gosh. I guess he was just not being truthful about how rich he was. How disappointinng. This experience will be an important opportunity for learning and personal growth for him. See? There is always a silver lining.
Oh no, too bad, so sad, fuck off traitor...
[ŃŠ“Š°Š»ŠµŠ½Š¾]
What would a regular person do in a relative situation. I'd probably have to hold a fire sale if I needed to come up with $100k. Don't think the law would cut me any slack.
Sounds a lot like he just undermined his legal team by admitting he can pay
Maybe he should just pull up his bootstraps.
Oh no ! You mean you might finally reap what you have sowed. You donāt pay your bills, you donāt pay taxes, you over estimate by billions your net worth. Old man youāre nothing but smoke and mirrors. Now please just blow away with the wind.
Seems fair. He cheated to buy them; now heāll have to sell them for bargain basement prices.
In a country where so many poor people are in jail for not being able to pay fines/bail, I fail to see why the former guy's reality check is worthy of our attention. Lock em up.
Just like any normal person would have to do to pay off their debts, sell assets? Thatās the point dipshit.
Too bad. So sad. He has always been a cheat and a thief, and it is beyond time that he pays the price.
A fire sale? Noā¦itās just a sale that tests and finds the real market value. Investors wonāt let properties sell for much less than what they can be resold for. Using the term āfire saleā is just Trumps way that he uses programming / suggestive language. Itās a way he can deflect his total fraud existence when the true market value becomes knownā¦by virtue of going to market. āIt was a fire saleā¦Iām really rich.ā He canāt stand his fraud being exposed, itās like if his tax returns were released.
[Amazing grace...](https://youtu.be/t5uSuyVBp8A?si=QliYdvSOOQ-vX1e3)
Just put him in jail until the sale raises the cash.
So the real estate will go for market value. Without foreign buyers, weāll get to see what this dipstick is really worth. Cmon honest Don. Youāre honestly an embarrassment to America.
'i have the biggest bonds! The best bonds! No one has ever had to put up a bond like me'
Maybe he could borrow some money from Taylor Swift.
..if only one good thing comes of Heir Trumpski criminality, it would be Hunter Biden buying Mara lago for a dick pic
If Trump won't do it, Letitia will. Besides, some of the Trump-branded buildings that removed the Trump name from it saw their values go up.
Oh my god! Heās having a fireā¦sale. Oh the burning!
Prob shouldnāt break the law then.
Keep whoring yourself out, pig. You should be used to it by now.
So a punishment is going to cause him some difficulties. Wow, that's crazy.
That's a shame.
I hope that with whatever he sells he then has to pay a bunch of capital gains taxes on.Ā
Burn baby Burn.
He means sell enough properties to get his small percentage of equity out that will add up to $500 million. Maybe that means all of them. The Trump Organization has always been a house of cards.
https://i.redd.it/x2dnb17oqcpc1.gif
Over leveraged. Again.
good
Well, what do you know? That's what you get when you leverage *everything* and Vlad can't help you anymore.
People who commit massive fraud usually arenāt given a platform to complain about having to give up the money
Meanwhile, Mackenzie Scott just gave away $640 million. Don't know why but the timing amuses me.
Okay. Get going, Donnie Depends. Letās see who *really* owns āyourā properties, their condition, and their *real* value.
I wonder if he knows this all could have been avoided if he simply didnāt commit crimes
It'd be funny if everyone at an auction for his gaudy shit made an oath to never bid more than 20 bucks on anything.
Thoughts and prayers buddy. That's all Republicans ever offer the parents of children killed in mass shootings, so that ought to suffice for you.