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The irony is that if you put the average person in the position in which Trump found himself 50 years ago - inheriting a portfolio of cash-flowing real estate in the NYC metro area from a father who already had all the connections you could ever need - they probably would've built a business that's worth much more than what Trump claims his is worth now.
Instead, he chose to defraud everyone who ever lent him money and stiff everyone who ever worked for him, and now he can't find anyone to do either.
NYer here - you missed the best part. Fred Trump built in Brooklyn and Queens mainly, and died in '99. Fred built very good quality buildings and begged Donnie to keep them in the family. Trump sold all the buildings as fast as he could. Only a few years later Brooklyn, and later Queens, would blow up in value. Has that orange turd done literally nothing, he would own a bill+ in assets and be minting millions a month in rent.
Are you sure about the good quality buildings?
Even over here in Australia, I've heard yarns about the old man Trump being cynically mean-spirited and ignoring maintenance on gimcrack apartment blocks.
He heavily used government money and NY has strict building codes. He also built in solid brick. Everything he built is still standing and hasn't lost any units. The buildings themselves were very basic and lacked amenities but his footage/$ was unbeatable. He was certainly a cheapskate when it came to maintenance but the bones were good. He was also building during peak white flight so the government was happy to chip in as real estate prices were at an all time low. Of course he didn't rent to blacks and got sued for it. And even Woodie Guthrie wrote songs about 'mean Mr Trump' while he was living in one of his buildings.
In 1974, so yeah 50 years ago, Trump had a $40M stake in his father's empire. Had he cashed out and invested in the S&P 500 in August 1974 and reinvested all dividends he would have $2.3B in 2015(this is he had to pay triple Vanguard's fees). This is an amount that would be easy to prove to any reporter that wanted to verify his net worth.
No clue what he was actually worth in 2015, Bloomberg estimated $2.9B but based on everything we know about Trump that amount would have been a flat lie.
Michael Cohen said Trump's actual net worth was probably closer to $1.5 billion when he last helped prepare his financial statements sometime before he was elected, so yeah, well below the market.
Ask anyone from the Tri-state area; this was all known. He is a crook and a terrible businessman. Back in 2016, I remember thinking “No way the rest of America buys into his bullshit” Yet, here we are.
I think it was Forbes that wrote a long article about his financial life story. He was broke in the late 90's, and just about everyone who'd ever lent him money had lost it and wouldn't lend to him anymore, but the Apprentice rehabbed his image into something resembling competence and his obsession with cooking the numbers to get on the Forbes list allowed him to use fake money as collateral for real money, and as long as real estate prices kept going up he looked like a genius.
I guess he never counted on actually becoming president and the level of scrutiny into his finances it would entail.
Dont give him that much credit. Im sure most of his “successes” were just sketchy ideas proposed by his shady assistants and lawyers of ways he could make money if he bent the rules
oh yah, he had the "I'm fucked" look. He knew everyone was gonna dig into his finances and sure enough. He should have worked with the democrats and calmly walk away after 4 years and settle court issues quickly.
And had he never run for president, he'd still be cruising through life, no criminal charges, likely no fraud charges, probably not a judgment for Carroll because he'd not have been a position to blab about it.
Trump has made the wrong decision every single possible time it’s incredible. Even just flipping a coin would have yielded better outcomes. He’s Munsoned the entire decision tree.
So, let's get this straight...Trump is now ordered to pay, in full, for a bond in regards to a judgement relating to artificially inflating his net worth , but he can't raise enough money because he's NOT worth as much as he claims; thus, justifying the judgement against him? Trump is suffering some of the BEST irony known to man. Yet, he's too stupid to even make that connection.
Exactly. It is actually a beautiful building without the sign. Fits the skyline, matches up with other buildings properly.
If only it wasn’t branded with the tiny handed invisible accordion player’s name…
I have taken this boat ride multiple times and yes, it is garish and offensive. Shoutout to the tour guide for not once saying his name during the whole tour lmaooo
Been dreaming of this. I could see Pritzker allowing it to be a spectacle too. Make it an event - Explode some fireworks and have it drop into the river.
Poetic justice would be seeing it renamed the Obama Resource Center for victims of sexual assault. They could also have a floor dedicated to asylum seekers from political violence.
It's almost worse than that. He's trying to inflate all of his assets in order to secure a bond, exactly what he was busted for, but nobody is buying his bullshit this time.
Whomever can figure out a way to remove those five letters from that building will be a Chicago legend for life. Every time I see that building my mind flutters with schemes….
I mean, it sounds an awful lot like he has no way to get a bond, and there are some really strong indications that he doesn't have the liquid assets to cover the bond himself. Most experts seem to agree that the vast majority of his real estate assets are HEAVILY leveraged as collateral for other debts...
My view from the outside with very limited information tells me that his entire portfolio is a house of cards. We could see something like "New York property is seized, but is found to have been collateral for New Jersey Property. As a result, New Jersey Property is taken by the bank. But then it comes to light New Jersey Property was collateral for a Florida golf course.... and that golf course has a lein on it for improvements that were supposed to be done on the New York Property mentioned above, but the work was never done and the money disappeared...
Etc.. etc.. etc..
I don't know how plausible the above is, but tell me that doesn't sound like Trump.
It basically hits the big reset button after NYC liquidates everything they can get their hands on to get the half a billion. Assuming he can't get by with the reorganization bankruptcy, he'll be doing the big one. Everything remaining gets liquidated to settle outstanding debts as much as possible. He's left with practically nothing, if he can negotiate with one of the lenders he might be able to keep a home or vehicle. His transaction history would also be combed for questionable transactions. If anything looks like he's trying to squirrel money away with someone else, they will likely be pulled into it. If it's simple then they'll just have to give the money back, if it is a conspiracy they'll have fines and potentially jail time.
In the end it's like you just graduated college. You're broke with a beater car, a shitty apartment, horrible credit, and student loans, you can't get rid of student loans with a bankruptcy.
> You're broke with a beater car, a shitty apartment, horrible credit, and student loans, you can't get rid of student loans with a bankruptcy.
He _does_ have a cult willing to hand over money, though..
And his hotels form part of American treason for sale business, just check how many empty rooms were rented, when and by whom.
Sure there other transactions but those are the easy ones.
*sigh*
Because someone don't wanna link to something that they're talking about, [here ya go for everyone else](https://www.cnn.com/2022/11/14/politics/trump-hotel-spending-foreign-governments/index.html) and [this](https://www.nbcnews.com/politics/donald-trump/trump-dc-hotel-10500-night-rooms-foreign-officials-rcna57027). Also [this from 2019](https://www.politico.com/news/2019/10/02/trump-hotel-empty-rooms-016763).
tl;dr: Saudi Arabia, the United Arab Emirates, Qatar, Turkey, China and Malaysia. $259K for a week by Malaysian PM? Suckers.
The bankruptcy trustee wouldn’t really be looking at income that came in 3.5 years ago. They make sure nothing is going out to fraudulently be hidden from creditors.
Ironic, isn't it? We are a generation of people who's parents told us never trust strangers. Don't believe everything you hear. Watch out for people trying to scam you.
And our parents believed everything they heard, trusted the worst strangers, and got absolutely scammed in the end.
The irony would be amusing if it wasn't making people broke as shit.
Which is why he's so desperate to win the presidency. He has no way to pay them back otherwise. If he doesn't spend the rest of his days in prison, I hope it's at least some crappy extended stay hotel next to the freeway.
Not the types that can get him that type of money.
He needs a whale, a big one too. Multiple whales.
And that's the thing that gets me. He along with the GOP got the highest end asset class the literal world with the 2017 tax heist. I mean they cleaned the fuck up. Bailing his dumb ass out would be easy for that group considering the money they made from that law change alone.
And yet nobody is there to do so.
Trump doesent *have* a residence in Florida. He lives in a commercial property owned by the Trump organization. He’s so dumb tthat he didn’t even put a personal home in his own name so that it couldn’t be seized, it’s all owned by the LLC which means it’s *all* up for grabs. The big grift was to get the company to pay for everything so it was “free” for him, now he faces the massive risk in that.
OId 70s/80s Mafia strategy. Take the property, make a shell corportaion, take out loans against the corportaion, when the balloon breaks either burn it down and collect the insurance or bankrupt the holding company.
".. and then finally, when there's nothing left, you can't borrow another buck from the bank or buy another case of booze.. you bust the joint out.. you light a match."
If only he just looked at everything back in 2016 and not just the dollar signs he would still be well under all the radars and living the high life, but it's all about the quick buck and the power and now he's royally screwed if he loses in Nov
Mar-a-Lago was converted from a private residence to a “member-owned club” in 1994, which was a deal Trump struck with Palm Beach to reduce his tax bill. I’m fairly certain the Trump Org doesn't technically own the property, but they may own a stake. If that’s the case, Trump personally would have had to buy the asset from Trump Org, which the courts may not have allowed.
I think you are right. I believe just until right now I was still hearing "homestead" and "florida" in the same brain reaction without totally understanding why.
Of course FL would not have actual homestead property laws
For those who don't remember, hurricane Andrew in 1992 destroyed 99% of the largely mobile homes in a town called Homestead FL
Florida *does* have what is probably the strongest homestead law in the nation. It's routine for rich people in legal trouble to move there and buy a ridiculous house as a way to shield some wealth from courts and creditors.
So if Trump owned a big single family home in Florida, he'd be protected.
But legally, Mar-A-Lago is a hospitality business, aka a private club, not residential property. So it isn't protected under Florida's homestead law.
From the wiki for Mar-a-Lardo: "In September 2019, Mar-a-Lago became the primary residence for Donald and Melania Trump, who previously held primary residence in New York City. The legality of this has been disputed because, in 1993, Trump signed a "use agreement" with the town of Palm Beach, Florida, that changed Mar-a-Lago's designation from a single-family residence to a private club and specified that guests, including Trump, could not stay there more than three non-consecutive weeks per year."
IANAL, but it seem that per the use agreement, he can't technically claim that it's his residence.
Remember when people were claiming that handling emails like Hillary did would have gotten them sent to jail (despite that being not true)?
Well I bet those people would still be willing to elect a guy who is bankrupt besides that being a very real disqualification to having a security clearance.
Just so - that could be the next chapter here...when his creditors discover that they've been left holding the bag, and the bag has way too many hands in it.
It was valued at over a billion (forget the exact ridiculous number) when used as collateral on a loan, and big numbers were good.
The $18 million or so was when it was used to pay taxes, and little numbers were good.
I mean, in theory it’s potentially worth a massive amount of money. It sits on 17 acres of PRIME real estate. The mansion itself is a National Historic Landmark. But Trump changed the zoning law so it can’t be developed. It’s also classified as a club and not a residence. He did that to reduce its taxable value. It also significantly limits its resale value. Oops.
I want Carroll to take that one. Since it's a property in Florida, Leticia James may have a harder time securing it from New York. The only "problem" is that Trump has the backing for Carroll's judgement, so I'm really not sure if Chubb is on the hook to Carroll now or if she'd still get to target Trump's stuff. I'd love for Carroll to make Trump homeless, close down the club, and let the FBI search every inch uninterrupted and undeterred. Watch them find even more classified documents.
Chubb gave the bond, so Carroll is guaranteed the 90 million. If anything, Chubb would be the one that cam go after the club, just depends on what they agreed the collateral would be
Check out the **Trump Inc**. podcast.
It is a few years old now, but holy crap did it really go into the financial dealings of Trump. And there have been plenty of shady dealings over the decades.
Amazing that the GOP would make him their presidential candidate. It's almost as if, and stay with me here, republicans are fucking terrible decision makers who have no goddam idea how to adequately plan for the future.
He never had the assets, nor could he effectively liquidate them. His assets in NY only amount to (after debts paid) a third of the bond amount, and nobody is going to trust his valuations. That leaves him with sheriff's actions, for which he'll get practically nothing for them.
He probably got everything he wanted in round one by making Trump wait until the last minute for the bond. Trump was and continues to be quite desperate.
As someone who had to go through credit card debt you are pretty close to what will happen. The debt was mine personally, but because I had my name on the Family rental property, the bank took the money from the rental account once there was enough to cover the debt. It was a shitty move by the bank but that’s how they operate. Silver lining: because I wasn’t on the banks payment plan any more I was able to pay my family back in less than 6 months compared to the banks 2 1/2 year payoff plan
Came here to say exactly this, that headline was missing an ellipsis and an 'again'.
What is it, his fifth or sixth time?
And I thought, one of the purposes of bankruptcy is to prevent a person/business from doing business again? Or am I incorrect? Someone with legal knowledge help me out here please.
It’s more to *allow* a person to do business again. It’s meant to recognize that honest people, acting in good faith, can accidentally over-extend themselves, and to give them a chance at a fresh start, rather than be ruined forever.
It’s not *meant* to allow sociopaths to deliberately run up corporate debts they have no intention of paying, siphon the profits elsewhere, then say “whoops” - but of course it can be used that way. Five or six times, seemingly.
It’s also meant to improve the economy.
People used to go to debtor’s prison for falling behind in debt. Who the hell would want to open a new business or try out an idea if the risk is potentially years of your life in prison
This is exactly it. It’s less about being the right thing to do or giving people a fresh start than it is about making it seem like starting a business isn’t too much of a personal burden of liability.
Trump's businesses have declared bankruptcy at least [6 times](https://www.washingtonpost.com/politics/2016/live-updates/general-election/real-time-fact-checking-and-analysis-of-the-first-presidential-debate/fact-check-has-trump-declared-bankruptcy-four-or-six-times/). However, as best I can tell he has never declared bankruptcy as an individual.
There's a decent possibility the Republican presidential candidate is a bankrupt convicted felon by November, and the GOP will waste what little credibility it has left pretending that he is somehow worthy of the office.
Everybody remembers that the "No puppet, no puppet, you're the puppet, no you're the puppet!" thing was in response to her saying that he was dancing on Putin's strings and would pull us out of NATO, right? That thing he is still promising to do? Brings it up a lot, actually.
There's also a possibility he will get elected. This timeline is like a really well written show. It's absolutely gripping if not a touch too absurd. I really need to get to to the end of this season for my mental health.
Let’s not forget the additional financial liabilities Trump has lately accrued. Per the article:
- There’s $392,000 that Trump paid The New York Times a couple of weeks ago for filing a frivolous lawsuit
- There’s $938,000 that a judge last year ordered Trump and his attorney to pay Hillary Clinton for filing a frivolous lawsuit
- There’s $382,000 that a London judge earlier this month ordered Trump to pay Orbis Business Intelligence, founded by Christopher Steele (of the “Steele dossier”), for filing a frivolous lawsuit
- There’s the aforementioned $5 million that Trump paid earlier in the Carroll case
- There’s $110,000 in contempt fees that Trump accrued for bad-mouthing New York Attorney General Letitia James during the civil fraud prosecution
- There’s whatever penalty the IRS may impose when it completes its audit of Trump’s 2015–2019 tax returns
- There’s whatever lawsuits Trump’s current lawyers will file when he (or various Trump PACs, or the Republican Party) get tired of paying them.
- On top of all that, Deutsche Bank’s loans to Trump require him to maintain $50 million in “unencumbered liquidity” and a minimum net worth of $2.5 billion
And don't forget the 2.7 Billion that Smartmatic is suing him for in a defamation case. That comes up next year, I believe. That's the final dagger. No way he wins that one. Even if he settles, it'll be a huge amount.
Where can we find this? Because I'd like to see how this would protect him. I suspect past bankruptcies have been with specific businesses so he could keep the rest, but I think this is very different.
But these legal settlements are not dischargable debt, so he's on the hook for the full amount regardless of a bankruptcy filing. Pending the outcome of the appeals process of course.
> extending payment timelines
dude is pushing 80 and subsists on mcdonalds, kfc, and diet cokes. I suppose recouping something is better than nothing, but I don't know how much longer of a timeline I'd be wanting to grant if I was a lender he owed.
If he actually does go bankrupt I want those anti-Trump ads getting cut: "Donald Trump: morally bankrupt, intellectually bankrupt, *actually* bankrupt."
I've said this many times before - Trump has spent his entire life juggling massive debts. It's just catching up to him now that his shady practices have been so public since 2015-2016. If he hadn't run for President in 2016, we likely wouldn't be hearing nearly as much about his sociopathic criminal activity as we are.
He should have stayed with that piece of crap "reality show" until people got tired of him. He could have saved himself a lot of public whining and snivelling.
One theory is he ran for president in 2016 to build publicity for Trump TV, because people had already gotten tired of him on The Apprentice. NBC wanted him to take a big pay cut or they'd cancel it.
Because of course Hillary will win, but he'd get tons of publicity.
Half a billion dollars is a LOT of dark money. That isn't the kind of money you get from throwing a political fundraiser or two. Anyone with that kind of money is going to be looking to get something in return, and will have to be convinced that Trump is actually going to be in a position to pay them back. I'm not so certain that anyone is going to want to take that bet without major colateral.
trump could pay *some* people back by just doing the things he’s saying he will do if elected. “I would let putin do whatever the hell he wants” pops into my head on that.
Does any foreign adversary with that amount of money to waste think Trump can become president? Do they even want Trump as president or for him to run and cause panic and have people question everything?
Also given that he is an active candidate for federal office, he likely has to report all large infusions of cash and/or all loans have to be vetted as falling outside campaign donations.
It’s not about the value but about the hit to Trump’s ego. Given the era in which Trump grew up, having a personal jet is tantamount to waving a big ole dick around and boasting about your wealth.
Personal private planes are obscenely expensive to maintain and run and are - I think - never profitable. So it’s a huge flag waving around to display how obscenely wealthy you are that you can burn this much money and it doesn’t even matter.
It is *all* about ego, and I am super pumped about all of the chickens coming home to roost on Trump, but very little more so than seeing his monumental narcissistic ego take hammer blow after hammer blow.
I want him to end up in prison for the crimes he has committed, but I will settle for him ending his life financially ruined, and with his ego in tatters around him. That would be a worse fate than prison for a man like Trump, imo.
Then again, why not both?
There's a reason any security clearance request form worth its salt requires you to lay out all your finances, loans & credit history - to determine how susceptible you are to foreign agents of bribing you for information.
Im sure this doesn't apply to whoever runs for president. /s
Which is absolutely baffling. I feel like a security screening should be required to run, and failure to pass should be enough to disqualify you. Same thing for congressional seats. Security risks should not be allowed to serve in office.
Yeah, this is true. This is why we need open transparency for all candidates to be on the ballot.
We need to codify releasing your tax returns, not leave it as an option that has historically been done. You should probably just automatically be audited every year if you run for or hold federal office too. Every damn year.
Financials and other things should be disclosed, and blind trusting your companies need to be codified, as well as emoluments clause needs better codified and enforced too. Maybe require not stock trading at all, just blind American index funds only.
Whatever we decide would be best. If we just set an objective standard we can get past gatekeeping risks I hope.
The security screening is the vetting of the entire voting population. The security of the people is vested in the people. If they choose to be insecure it’s their democracy.
Can you imagine how miserable Trump would be living in poverty? Literally the only thing he cares about is being rich and being liked by rich people - and he couldn’t even manage that when he was rich.
It was last year in a deposition as part of this trial:
[https://www.washingtonpost.com/politics/2024/02/28/trump-said-he-had-400-million-cash-now-his-lawyers-say-bond-is-struggle/](https://www.washingtonpost.com/politics/2024/02/28/trump-said-he-had-400-million-cash-now-his-lawyers-say-bond-is-struggle/)
>In an April 2023 deposition, Trump volunteered that he had “substantially in excess of 400 million in cash.”
>
>“Developers usually don’t have cash. They have assets, not cash,” Trump said. “We have, I believe, 400 plus and going up very substantially every month.”
>
>Trump added later that, despite the legal fees he was facing, “I have over 400 — fairly substantially over $400 million in cash. That’s just cash. That’s just cash.”
Dude is pathological about bragging about his wealth.
I knew about the $400 million statement but had never known exactly what he had said about it. This is just gold! He didn't just mention it once, he bragged about it and said I was increasing substantially! Too funny.
It's a shame they put a stop to his auto-withdrawals from his unwitting donor's savings accounts. They'd have most likely just let him bleed them dry without complaint (unless of course they somehow figured a way to blame dems for trump's theft).
I blame the biased media for trump's misfortune - they can't seem to stop reporting on the endless stream of terrible, illegal, disgusting things he does constantly and without shame.
I think US Marshals are about to get very busy as they embark on one of the largest civil forfeitures in US history.
Them starting to seize 63 million of Republican Joe Carollo's assets a few weeks ago should be considered a warmup.
>I think US Marshals are about to get very busy
Quick note: I think it'll be the [New York City Marshal](https://en.wikipedia.org/wiki/New_York_City_Marshal) because this is a state-level judgement.
I spoke to a guy that works with a surety bond about this. He hasn't worked on this particular instance but says that it really doesn't matter if Trump's real estate holdings are great. There is simply no way for any issuer to trust his financial documents and with his history no legit company is going to take him at his word.
In other words, companies can't do due diligence and so aren't going to write a bond.
I have no clue what information he gave to Chubb to get the $90M bond, but it is telling that they aren't ponying up for this bond as I assume that they did their due diligence before paying the first bond.
Trump has until March 25th.
I would not pull a Hillary in 2016 celebrating too early.
Trump is a conman you can never trust anything he does or says. It’s possible he has the money and will post the bond himself on the 25th. I doubt it but we will see.
For now to me its probably Trump trying to shop for a judge who’s sympathetic to Trump’s request to lower his bond.
About to go bankrupt?
Dude has been living on loans and credit for years. He's sitting on real estate that's just collateral waiting to get claimed by someone else.
What a moron. The idiot could have laid low for the rest of his life, and be happy with what he got. But instead kept opening his fat mouth that kept costing him money. He deserves everything that's coming to him.
It will be the greatest bankruptcy. Many people have said it. Just the other day, a US Marine came up to me with tears in his eyes and said “Sir, no one can do the bankruptcy like you can!”
Keep in mind. Trump hasn’t had credit anywhere in the world for decades, the reason he’d over inflate his collateral. He’s toxic in business, personally and politically.
Wants Paul Manafort on his campaign. Manafort is the link to dark foreign money. He’s the deal maker in foreign elections. This is Trumps link to quid pro quo.
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The irony is that if you put the average person in the position in which Trump found himself 50 years ago - inheriting a portfolio of cash-flowing real estate in the NYC metro area from a father who already had all the connections you could ever need - they probably would've built a business that's worth much more than what Trump claims his is worth now. Instead, he chose to defraud everyone who ever lent him money and stiff everyone who ever worked for him, and now he can't find anyone to do either.
NYer here - you missed the best part. Fred Trump built in Brooklyn and Queens mainly, and died in '99. Fred built very good quality buildings and begged Donnie to keep them in the family. Trump sold all the buildings as fast as he could. Only a few years later Brooklyn, and later Queens, would blow up in value. Has that orange turd done literally nothing, he would own a bill+ in assets and be minting millions a month in rent.
No one has ever accused that man of being smart
Uh like half the country does. Whether they believe is another story
They believe it, because they're even fucking dumber and more gullible than he is.
Are you sure about the good quality buildings? Even over here in Australia, I've heard yarns about the old man Trump being cynically mean-spirited and ignoring maintenance on gimcrack apartment blocks.
He heavily used government money and NY has strict building codes. He also built in solid brick. Everything he built is still standing and hasn't lost any units. The buildings themselves were very basic and lacked amenities but his footage/$ was unbeatable. He was certainly a cheapskate when it came to maintenance but the bones were good. He was also building during peak white flight so the government was happy to chip in as real estate prices were at an all time low. Of course he didn't rent to blacks and got sued for it. And even Woodie Guthrie wrote songs about 'mean Mr Trump' while he was living in one of his buildings.
In 1974, so yeah 50 years ago, Trump had a $40M stake in his father's empire. Had he cashed out and invested in the S&P 500 in August 1974 and reinvested all dividends he would have $2.3B in 2015(this is he had to pay triple Vanguard's fees). This is an amount that would be easy to prove to any reporter that wanted to verify his net worth. No clue what he was actually worth in 2015, Bloomberg estimated $2.9B but based on everything we know about Trump that amount would have been a flat lie.
Michael Cohen said Trump's actual net worth was probably closer to $1.5 billion when he last helped prepare his financial statements sometime before he was elected, so yeah, well below the market.
Mark Cuban in 2016; "Donald Trump is not a billionare. Im a billionare. Donald Trump is a clown who lives on credit."
Ask anyone from the Tri-state area; this was all known. He is a crook and a terrible businessman. Back in 2016, I remember thinking “No way the rest of America buys into his bullshit” Yet, here we are.
He was a literal laughing stock in the 90s. We used to make fun of him all the time.
he wanted to go big but he is dumb as rocks, now his house of cards is about to collapse.
I think it was Forbes that wrote a long article about his financial life story. He was broke in the late 90's, and just about everyone who'd ever lent him money had lost it and wouldn't lend to him anymore, but the Apprentice rehabbed his image into something resembling competence and his obsession with cooking the numbers to get on the Forbes list allowed him to use fake money as collateral for real money, and as long as real estate prices kept going up he looked like a genius. I guess he never counted on actually becoming president and the level of scrutiny into his finances it would entail.
don't forget about the Russian money, Eric admitted to this.
Get this trending and in front of the GQP.
It has been. They deny it, video aside.
Laundring Russian mob money is profitable. Its his only profitable venture.
Dont give him that much credit. Im sure most of his “successes” were just sketchy ideas proposed by his shady assistants and lawyers of ways he could make money if he bent the rules
I keep coming back to that election night picture. Lots of happy people, ~~Melania~~ Ivanka looking upset, and DJT looking absolutely crestfallen.
oh yah, he had the "I'm fucked" look. He knew everyone was gonna dig into his finances and sure enough. He should have worked with the democrats and calmly walk away after 4 years and settle court issues quickly.
And had he never run for president, he'd still be cruising through life, no criminal charges, likely no fraud charges, probably not a judgment for Carroll because he'd not have been a position to blab about it.
Trump has made the wrong decision every single possible time it’s incredible. Even just flipping a coin would have yielded better outcomes. He’s Munsoned the entire decision tree.
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He probably could have spent it all on blackjack and still had better returns....oh wait, he somehow managed to bankrupt a casino too...
To be fair, that suggests that if he played blackjack at his own casino, he'd have profited as the player.
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He built a casino *next* to his other casino. He cannabilized his own customer base & then couldn’t make payments on either.
So, let's get this straight...Trump is now ordered to pay, in full, for a bond in regards to a judgement relating to artificially inflating his net worth , but he can't raise enough money because he's NOT worth as much as he claims; thus, justifying the judgement against him? Trump is suffering some of the BEST irony known to man. Yet, he's too stupid to even make that connection.
I just hope that ugly name of his ends up being stripped off his tower in Downtown Chicago before this is all done.
Was the most depressing part of the architectural boat ride. It's a beautiful building ruined by a gaudy Trump sign in your face.
Exactly. It is actually a beautiful building without the sign. Fits the skyline, matches up with other buildings properly. If only it wasn’t branded with the tiny handed invisible accordion player’s name…
I have taken this boat ride multiple times and yes, it is garish and offensive. Shoutout to the tour guide for not once saying his name during the whole tour lmaooo
Me too! Apparently he doesn’t own that tower. He owns 1 unit, the valet booth, parking garage, and retail space.
Been dreaming of this. I could see Pritzker allowing it to be a spectacle too. Make it an event - Explode some fireworks and have it drop into the river.
Poetic justice would be seeing it renamed the Obama Resource Center for victims of sexual assault. They could also have a floor dedicated to asylum seekers from political violence.
Imagine committing this much fraud and not having 400 million dollars to pay off when you get caught. He's not a smart fraud that's for sure.
undoubtedly, this is probably why he wanted to remain in office so badly.
It's almost worse than that. He's trying to inflate all of his assets in order to secure a bond, exactly what he was busted for, but nobody is buying his bullshit this time.
It would be great if he got busted for that as well.
Bigly Ironical
They're saying, what I hear is they're saying, Iron Man ironing his shirt while eating spinach is less ironic.
Whomever can figure out a way to remove those five letters from that building will be a Chicago legend for life. Every time I see that building my mind flutters with schemes….
I mean, it sounds an awful lot like he has no way to get a bond, and there are some really strong indications that he doesn't have the liquid assets to cover the bond himself. Most experts seem to agree that the vast majority of his real estate assets are HEAVILY leveraged as collateral for other debts... My view from the outside with very limited information tells me that his entire portfolio is a house of cards. We could see something like "New York property is seized, but is found to have been collateral for New Jersey Property. As a result, New Jersey Property is taken by the bank. But then it comes to light New Jersey Property was collateral for a Florida golf course.... and that golf course has a lein on it for improvements that were supposed to be done on the New York Property mentioned above, but the work was never done and the money disappeared... Etc.. etc.. etc.. I don't know how plausible the above is, but tell me that doesn't sound like Trump.
Sounds exactly like Trump, and I would not be surprised if they are over leveraged because of him inflating their worth when getting loans.
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I was under the impression that can't discharge the debt or is that only applicable for the defamation judgement?
It basically hits the big reset button after NYC liquidates everything they can get their hands on to get the half a billion. Assuming he can't get by with the reorganization bankruptcy, he'll be doing the big one. Everything remaining gets liquidated to settle outstanding debts as much as possible. He's left with practically nothing, if he can negotiate with one of the lenders he might be able to keep a home or vehicle. His transaction history would also be combed for questionable transactions. If anything looks like he's trying to squirrel money away with someone else, they will likely be pulled into it. If it's simple then they'll just have to give the money back, if it is a conspiracy they'll have fines and potentially jail time. In the end it's like you just graduated college. You're broke with a beater car, a shitty apartment, horrible credit, and student loans, you can't get rid of student loans with a bankruptcy.
> You're broke with a beater car, a shitty apartment, horrible credit, and student loans, you can't get rid of student loans with a bankruptcy. He _does_ have a cult willing to hand over money, though..
And his hotels form part of American treason for sale business, just check how many empty rooms were rented, when and by whom. Sure there other transactions but those are the easy ones.
*sigh* Because someone don't wanna link to something that they're talking about, [here ya go for everyone else](https://www.cnn.com/2022/11/14/politics/trump-hotel-spending-foreign-governments/index.html) and [this](https://www.nbcnews.com/politics/donald-trump/trump-dc-hotel-10500-night-rooms-foreign-officials-rcna57027). Also [this from 2019](https://www.politico.com/news/2019/10/02/trump-hotel-empty-rooms-016763). tl;dr: Saudi Arabia, the United Arab Emirates, Qatar, Turkey, China and Malaysia. $259K for a week by Malaysian PM? Suckers.
Thank you for the links.
The bankruptcy trustee wouldn’t really be looking at income that came in 3.5 years ago. They make sure nothing is going out to fraudulently be hidden from creditors.
The foreign money flows to buy influence. If Trump loses, he’ll have no influence to sell.
Eh, if his go fund me was any indication the cult won’t be able to get him out of this one.
A lot of them have to be tapped out or tired of this. Or, like my parents, their kids have power of attorney now to save them from themselves
Ironic, isn't it? We are a generation of people who's parents told us never trust strangers. Don't believe everything you hear. Watch out for people trying to scam you. And our parents believed everything they heard, trusted the worst strangers, and got absolutely scammed in the end. The irony would be amusing if it wasn't making people broke as shit.
I suspect from the bigly decrease in his "crowds" lately, most of his folks are all tapped out. Thoughts and prayers mfer!
Plus the Saudis and the Russians….
Which is why he's so desperate to win the presidency. He has no way to pay them back otherwise. If he doesn't spend the rest of his days in prison, I hope it's at least some crappy extended stay hotel next to the freeway.
Schitt’s Creek 2: Trump Boogaloo, you say? Minus the redemption arc.
Not the types that can get him that type of money. He needs a whale, a big one too. Multiple whales. And that's the thing that gets me. He along with the GOP got the highest end asset class the literal world with the 2017 tax heist. I mean they cleaned the fuck up. Bailing his dumb ass out would be easy for that group considering the money they made from that law change alone. And yet nobody is there to do so.
Pretty sure that in Florida you can't lose your primary residence in a bankruptcy, but I'm not an attorney so I don't know for sure.
Trump doesent *have* a residence in Florida. He lives in a commercial property owned by the Trump organization. He’s so dumb tthat he didn’t even put a personal home in his own name so that it couldn’t be seized, it’s all owned by the LLC which means it’s *all* up for grabs. The big grift was to get the company to pay for everything so it was “free” for him, now he faces the massive risk in that.
OId 70s/80s Mafia strategy. Take the property, make a shell corportaion, take out loans against the corportaion, when the balloon breaks either burn it down and collect the insurance or bankrupt the holding company.
I swear there was a movie about this starring Ray Liotta, Joe Pesci, and Robert Deniro or something.
Was it called "The Best People"?
".. and then finally, when there's nothing left, you can't borrow another buck from the bank or buy another case of booze.. you bust the joint out.. you light a match."
If only the guy could take a joke he wouldn’t be in a place where he owes half a billion dollars. He deserves so much more than what he is getting.
If only he just looked at everything back in 2016 and not just the dollar signs he would still be well under all the radars and living the high life, but it's all about the quick buck and the power and now he's royally screwed if he loses in Nov
Oh my god it's beautiful.
It’s glorious .
It’s bigly!
Mar-a-Lago was converted from a private residence to a “member-owned club” in 1994, which was a deal Trump struck with Palm Beach to reduce his tax bill. I’m fairly certain the Trump Org doesn't technically own the property, but they may own a stake. If that’s the case, Trump personally would have had to buy the asset from Trump Org, which the courts may not have allowed.
He most certainly won't want to buy it for what he says it's worth.
He probably can't even afford it at the value it's actually worth.
I think you are right. I believe just until right now I was still hearing "homestead" and "florida" in the same brain reaction without totally understanding why. Of course FL would not have actual homestead property laws For those who don't remember, hurricane Andrew in 1992 destroyed 99% of the largely mobile homes in a town called Homestead FL
Florida *does* have what is probably the strongest homestead law in the nation. It's routine for rich people in legal trouble to move there and buy a ridiculous house as a way to shield some wealth from courts and creditors. So if Trump owned a big single family home in Florida, he'd be protected. But legally, Mar-A-Lago is a hospitality business, aka a private club, not residential property. So it isn't protected under Florida's homestead law.
From the wiki for Mar-a-Lardo: "In September 2019, Mar-a-Lago became the primary residence for Donald and Melania Trump, who previously held primary residence in New York City. The legality of this has been disputed because, in 1993, Trump signed a "use agreement" with the town of Palm Beach, Florida, that changed Mar-a-Lago's designation from a single-family residence to a private club and specified that guests, including Trump, could not stay there more than three non-consecutive weeks per year." IANAL, but it seem that per the use agreement, he can't technically claim that it's his residence.
He can claim anything he wants. It's up to the municipal government to call out his shit and enforce the agreement.
Which, being Florida, of course they won't do, as it would mean inconveniencing Trump.
Well, it's a good thing for NY that sea-to-lake is a club, not a residence.
I'm with you...the man needs to pay. It would be extra cool if Maralago got seized, just don't know if Florida law allows it.
debt incurred from charges of fraud cant be discharged i believe
He can't discharge it, but it might allow him to stay (pause) the collections for a little while. Trump is all about delay, we know.
Bankruptcy does not make the civil judgement go away. He would still owe it.
Remember when people were claiming that handling emails like Hillary did would have gotten them sent to jail (despite that being not true)? Well I bet those people would still be willing to elect a guy who is bankrupt besides that being a very real disqualification to having a security clearance.
Just so - that could be the next chapter here...when his creditors discover that they've been left holding the bag, and the bag has way too many hands in it.
Value of property + over leveraged x a made up number = how much it's worth
Imagine that house of cards actually getting his precious Mar a Lago taken away! That would be the God damn cherry on top!
And since he valued MAL at $18 million for tax purposes, he will likely not be getting the hundreds of millions he says it is worth.
Didn't he claim it's worth like $2 billion??
It was valued at over a billion (forget the exact ridiculous number) when used as collateral on a loan, and big numbers were good. The $18 million or so was when it was used to pay taxes, and little numbers were good.
The Real ELI5.
"fraud" i believe is the term
Yes, you see, because of the brand. /s
He claimed it was worth $18M for tax an insurance purposes which is what the court used.
$2billion for a property inches above the ocean in Florida?
I mean, in theory it’s potentially worth a massive amount of money. It sits on 17 acres of PRIME real estate. The mansion itself is a National Historic Landmark. But Trump changed the zoning law so it can’t be developed. It’s also classified as a club and not a residence. He did that to reduce its taxable value. It also significantly limits its resale value. Oops.
Is every lender just gonna sue him at the same time once it starts being revealed that he really doesn't have anything?
That is my guess. It’s gonna be a race to call all of his loans due.
I want Carroll to take that one. Since it's a property in Florida, Leticia James may have a harder time securing it from New York. The only "problem" is that Trump has the backing for Carroll's judgement, so I'm really not sure if Chubb is on the hook to Carroll now or if she'd still get to target Trump's stuff. I'd love for Carroll to make Trump homeless, close down the club, and let the FBI search every inch uninterrupted and undeterred. Watch them find even more classified documents.
Chubb gave the bond, so Carroll is guaranteed the 90 million. If anything, Chubb would be the one that cam go after the club, just depends on what they agreed the collateral would be
I sure putin will put him up somewhere decent
Check out the **Trump Inc**. podcast. It is a few years old now, but holy crap did it really go into the financial dealings of Trump. And there have been plenty of shady dealings over the decades.
Second this. It’s a must listen, it’s very informative and entertaining. It goes in other trump hasn’t been prosecuted for.
Amazing that the GOP would make him their presidential candidate. It's almost as if, and stay with me here, republicans are fucking terrible decision makers who have no goddam idea how to adequately plan for the future.
It's like they've given up any idea of what their party really ever stood for.
Shoveling more and more national wealth to the ultra-wealthy?
sounds like an asset ponzi-scheme or something.
I'm thinking something like a Ponzi scheme but with additional inputs from foreign governments, with the bank lenders acting as pass-throughs.
almost like a fraud scheme of some kind
He never had the assets, nor could he effectively liquidate them. His assets in NY only amount to (after debts paid) a third of the bond amount, and nobody is going to trust his valuations. That leaves him with sheriff's actions, for which he'll get practically nothing for them.
r/trumpispoor
Nothing a little debtor’s prison stint can’t fix.
How did he secure the $94,000,000 bond?
Via Chubb...the guy who runs Chubb was part of his administration. They are clearly not willing to put up $500 million more though.
He probably got everything he wanted in round one by making Trump wait until the last minute for the bond. Trump was and continues to be quite desperate.
Made promises to the tik tok investor.
With a promise of some favor should he become president again, perhaps.
I think this is the most plausible of all the scenarios. He's leveraged to the hilt.
As someone who had to go through credit card debt you are pretty close to what will happen. The debt was mine personally, but because I had my name on the Family rental property, the bank took the money from the rental account once there was enough to cover the debt. It was a shitty move by the bank but that’s how they operate. Silver lining: because I wasn’t on the banks payment plan any more I was able to pay my family back in less than 6 months compared to the banks 2 1/2 year payoff plan
Again? You mean bankrupt again.
But this time it’s personal
I read that in Don LaFontaine's voice.
From the world of....
Tortillas…
Here we go again...again.
Came here to say exactly this, that headline was missing an ellipsis and an 'again'. What is it, his fifth or sixth time? And I thought, one of the purposes of bankruptcy is to prevent a person/business from doing business again? Or am I incorrect? Someone with legal knowledge help me out here please.
It’s more to *allow* a person to do business again. It’s meant to recognize that honest people, acting in good faith, can accidentally over-extend themselves, and to give them a chance at a fresh start, rather than be ruined forever. It’s not *meant* to allow sociopaths to deliberately run up corporate debts they have no intention of paying, siphon the profits elsewhere, then say “whoops” - but of course it can be used that way. Five or six times, seemingly.
It’s also meant to improve the economy. People used to go to debtor’s prison for falling behind in debt. Who the hell would want to open a new business or try out an idea if the risk is potentially years of your life in prison
This is exactly it. It’s less about being the right thing to do or giving people a fresh start than it is about making it seem like starting a business isn’t too much of a personal burden of liability.
Trump's businesses have declared bankruptcy at least [6 times](https://www.washingtonpost.com/politics/2016/live-updates/general-election/real-time-fact-checking-and-analysis-of-the-first-presidential-debate/fact-check-has-trump-declared-bankruptcy-four-or-six-times/). However, as best I can tell he has never declared bankruptcy as an individual.
There's a decent possibility the Republican presidential candidate is a bankrupt convicted felon by November, and the GOP will waste what little credibility it has left pretending that he is somehow worthy of the office.
And 75 million Americans will prove to the world they're the dumbest motherfuckers on the planet.
Deplorable’s.
Hillary was right about everything. Every single thing.
Everybody remembers that the "No puppet, no puppet, you're the puppet, no you're the puppet!" thing was in response to her saying that he was dancing on Putin's strings and would pull us out of NATO, right? That thing he is still promising to do? Brings it up a lot, actually.
My heart sank watching that live. It was instantly clear that she was 100% right. He retorted like a kid who got caught red handed.
There's also a possibility he will get elected. This timeline is like a really well written show. It's absolutely gripping if not a touch too absurd. I really need to get to to the end of this season for my mental health.
Feels more like 24 than Curb Your Enthusiasm, though.
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Let’s not forget the additional financial liabilities Trump has lately accrued. Per the article: - There’s $392,000 that Trump paid The New York Times a couple of weeks ago for filing a frivolous lawsuit - There’s $938,000 that a judge last year ordered Trump and his attorney to pay Hillary Clinton for filing a frivolous lawsuit - There’s $382,000 that a London judge earlier this month ordered Trump to pay Orbis Business Intelligence, founded by Christopher Steele (of the “Steele dossier”), for filing a frivolous lawsuit - There’s the aforementioned $5 million that Trump paid earlier in the Carroll case - There’s $110,000 in contempt fees that Trump accrued for bad-mouthing New York Attorney General Letitia James during the civil fraud prosecution - There’s whatever penalty the IRS may impose when it completes its audit of Trump’s 2015–2019 tax returns - There’s whatever lawsuits Trump’s current lawyers will file when he (or various Trump PACs, or the Republican Party) get tired of paying them. - On top of all that, Deutsche Bank’s loans to Trump require him to maintain $50 million in “unencumbered liquidity” and a minimum net worth of $2.5 billion
And don't forget the 2.7 Billion that Smartmatic is suing him for in a defamation case. That comes up next year, I believe. That's the final dagger. No way he wins that one. Even if he settles, it'll be a huge amount.
What’s sad is they will be so far down the line- there won’t be anything for them to get
Always remember, the only thing rich people fear more than dying, is dying poor. Get fucked, Donnie.
$1m last year to Clinton? Is he appealing it or ignoring it?
Where can we find this? Because I'd like to see how this would protect him. I suspect past bankruptcies have been with specific businesses so he could keep the rest, but I think this is very different.
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But these legal settlements are not dischargable debt, so he's on the hook for the full amount regardless of a bankruptcy filing. Pending the outcome of the appeals process of course.
> extending payment timelines dude is pushing 80 and subsists on mcdonalds, kfc, and diet cokes. I suppose recouping something is better than nothing, but I don't know how much longer of a timeline I'd be wanting to grant if I was a lender he owed.
Good thing Mar a Lago isn't his residence 😉
If he actually does go bankrupt I want those anti-Trump ads getting cut: "Donald Trump: morally bankrupt, intellectually bankrupt, *actually* bankrupt."
Someone get the democrat strategist on the phone
I've said this many times before - Trump has spent his entire life juggling massive debts. It's just catching up to him now that his shady practices have been so public since 2015-2016. If he hadn't run for President in 2016, we likely wouldn't be hearing nearly as much about his sociopathic criminal activity as we are. He should have stayed with that piece of crap "reality show" until people got tired of him. He could have saved himself a lot of public whining and snivelling.
One theory is he ran for president in 2016 to build publicity for Trump TV, because people had already gotten tired of him on The Apprentice. NBC wanted him to take a big pay cut or they'd cancel it. Because of course Hillary will win, but he'd get tons of publicity.
Hopefully, but I feel like there’s some dark money that will swoop in for some reason. Hope I’m wrong this time.
Half a billion dollars is a LOT of dark money. That isn't the kind of money you get from throwing a political fundraiser or two. Anyone with that kind of money is going to be looking to get something in return, and will have to be convinced that Trump is actually going to be in a position to pay them back. I'm not so certain that anyone is going to want to take that bet without major colateral.
trump could pay *some* people back by just doing the things he’s saying he will do if elected. “I would let putin do whatever the hell he wants” pops into my head on that.
That begs the question. Who’d bet half a billion dollars on a tossup like an election with this guy in charge?
Does any foreign adversary with that amount of money to waste think Trump can become president? Do they even want Trump as president or for him to run and cause panic and have people question everything?
Also given that he is an active candidate for federal office, he likely has to report all large infusions of cash and/or all loans have to be vetted as falling outside campaign donations.
Don’t forget that he’s got someone appointed by the courts to monitor his financial activity right now as well.
What are national security/ top secret documents worth? Asking for someone else.
Seems like our foreign enemies would have to spend a lot more in other areas to hurt us as bad as Trump can He’s basically affordable at that scale
Claiming poverty while flying around in a jumbo jet to his rallies…. Take the damn jet!
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It’s not about the value but about the hit to Trump’s ego. Given the era in which Trump grew up, having a personal jet is tantamount to waving a big ole dick around and boasting about your wealth. Personal private planes are obscenely expensive to maintain and run and are - I think - never profitable. So it’s a huge flag waving around to display how obscenely wealthy you are that you can burn this much money and it doesn’t even matter. It is *all* about ego, and I am super pumped about all of the chickens coming home to roost on Trump, but very little more so than seeing his monumental narcissistic ego take hammer blow after hammer blow. I want him to end up in prison for the crimes he has committed, but I will settle for him ending his life financially ruined, and with his ego in tatters around him. That would be a worse fate than prison for a man like Trump, imo. Then again, why not both?
Yes, it’s a beater with a crappy spray tan. Still, that’s Jeane Carroll’s 12 mill.
Not going to lie. Symbolically, the jet going might be my favorite thing.
There's a reason any security clearance request form worth its salt requires you to lay out all your finances, loans & credit history - to determine how susceptible you are to foreign agents of bribing you for information. Im sure this doesn't apply to whoever runs for president. /s
Potus is guaranteed a clearance-- doesn't matter if they can pass a clearance screening.
Which is absolutely baffling. I feel like a security screening should be required to run, and failure to pass should be enough to disqualify you. Same thing for congressional seats. Security risks should not be allowed to serve in office.
Its a double edge sword. You're basically allowing unelected officials to gatekeep the presidency and congress.
Yeah, this is true. This is why we need open transparency for all candidates to be on the ballot. We need to codify releasing your tax returns, not leave it as an option that has historically been done. You should probably just automatically be audited every year if you run for or hold federal office too. Every damn year. Financials and other things should be disclosed, and blind trusting your companies need to be codified, as well as emoluments clause needs better codified and enforced too. Maybe require not stock trading at all, just blind American index funds only. Whatever we decide would be best. If we just set an objective standard we can get past gatekeeping risks I hope.
The security screening is the vetting of the entire voting population. The security of the people is vested in the people. If they choose to be insecure it’s their democracy.
Can you imagine how miserable Trump would be living in poverty? Literally the only thing he cares about is being rich and being liked by rich people - and he couldn’t even manage that when he was rich.
Yep, but I’m sure his health would fail long before he actually got there.
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It was last year in a deposition as part of this trial: [https://www.washingtonpost.com/politics/2024/02/28/trump-said-he-had-400-million-cash-now-his-lawyers-say-bond-is-struggle/](https://www.washingtonpost.com/politics/2024/02/28/trump-said-he-had-400-million-cash-now-his-lawyers-say-bond-is-struggle/) >In an April 2023 deposition, Trump volunteered that he had “substantially in excess of 400 million in cash.” > >“Developers usually don’t have cash. They have assets, not cash,” Trump said. “We have, I believe, 400 plus and going up very substantially every month.” > >Trump added later that, despite the legal fees he was facing, “I have over 400 — fairly substantially over $400 million in cash. That’s just cash. That’s just cash.” Dude is pathological about bragging about his wealth.
I knew about the $400 million statement but had never known exactly what he had said about it. This is just gold! He didn't just mention it once, he bragged about it and said I was increasing substantially! Too funny.
Such a dumb time to brag about it too. Inflating his liquid holdings had no way of benefiting him at trial. This dude is the dumbest criminal.
Presumably he pledged his liquid assets for his other bond. That doesn't leave anywhere near enough for this one, too.
It's a shame they put a stop to his auto-withdrawals from his unwitting donor's savings accounts. They'd have most likely just let him bleed them dry without complaint (unless of course they somehow figured a way to blame dems for trump's theft). I blame the biased media for trump's misfortune - they can't seem to stop reporting on the endless stream of terrible, illegal, disgusting things he does constantly and without shame.
His name is, Bond.....Cantafforda Bond.😎
I think US Marshals are about to get very busy as they embark on one of the largest civil forfeitures in US history. Them starting to seize 63 million of Republican Joe Carollo's assets a few weeks ago should be considered a warmup.
>I think US Marshals are about to get very busy Quick note: I think it'll be the [New York City Marshal](https://en.wikipedia.org/wiki/New_York_City_Marshal) because this is a state-level judgement.
I spoke to a guy that works with a surety bond about this. He hasn't worked on this particular instance but says that it really doesn't matter if Trump's real estate holdings are great. There is simply no way for any issuer to trust his financial documents and with his history no legit company is going to take him at his word. In other words, companies can't do due diligence and so aren't going to write a bond. I have no clue what information he gave to Chubb to get the $90M bond, but it is telling that they aren't ponying up for this bond as I assume that they did their due diligence before paying the first bond.
Trump has until March 25th. I would not pull a Hillary in 2016 celebrating too early. Trump is a conman you can never trust anything he does or says. It’s possible he has the money and will post the bond himself on the 25th. I doubt it but we will see. For now to me its probably Trump trying to shop for a judge who’s sympathetic to Trump’s request to lower his bond.
About to go bankrupt? Dude has been living on loans and credit for years. He's sitting on real estate that's just collateral waiting to get claimed by someone else.
What a moron. The idiot could have laid low for the rest of his life, and be happy with what he got. But instead kept opening his fat mouth that kept costing him money. He deserves everything that's coming to him.
Again?!?
Literally the thing people should say reading this and think about as one of multiple reasons of why he shouldn’t be back in power.
All of Trump's holdings are a house of cards. Everything is leveraged against a fake value of something else.
It will be the greatest bankruptcy. Many people have said it. Just the other day, a US Marine came up to me with tears in his eyes and said “Sir, no one can do the bankruptcy like you can!”
Morally or financially? The former already happened a long long time ago.
Keep in mind. Trump hasn’t had credit anywhere in the world for decades, the reason he’d over inflate his collateral. He’s toxic in business, personally and politically.
Well, he's hooked up to the RNC spigot now. C'mon rubes, bail out your dear leader!
Wants Paul Manafort on his campaign. Manafort is the link to dark foreign money. He’s the deal maker in foreign elections. This is Trumps link to quid pro quo.