politics

I won't get my hopes up until after the seizure/liquidation order is executed, and he's got to start selling shit, everything about and around Trump shows the rich in the United States live by different rules when it comes to the courts, and there's always another delay or stay or appeal, that the normal citizen wouldn't be granted or have access to, especially Trump since he and the Republican party control over half the sitting judges which decide these things

It's a little fun watching him squirm, but only so much, because then there's the inevitable let down of the stay, or appeal, or case falling apart, or supreme court review, or prosecutor disqualification, or some other fucking infuriating bullshit

Justice delayed is justice denied

Shortly before 6:30 a.m. Tuesday, Trump took those grievances public, posting on his social media platform eight times within two hours about the deadline, arguing that he shouldn’t have to put up the money and worrying that he “would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone.”

“Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!” the former president wrote.

I was really hoping for the Chewbacca Defense to make an appearance towards the end there.

Let the ketchup hit the wall, Let the ketchup hit the wall….

... arguing that he shouldn’t have to put up the money and worrying that he “would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone.”

One, they've had plenty of time to gracefully liquidate assets necessary to meet this bond. Surely they could have entered into sale contracts that were contingent on the outcome of the civil trial.

Two, at this stage, the value would not simply disappear; it would be put into an escrow for the bond. Should the appeal be successful, that bond amount is returned.

But why would they need to sell these properties in the first place? Why not just use the properties as collateral for loans, and use the loan value for the bond (and then payment of the judgment when the appeal fails)? Because there's already loans out there that use the properties as collateral - and based on the judgment, probably at highly inflated property values. They can't get loans against the properties. This is what Cohen means when he says "leveraged to the hilt."

This all means that even if the properties get sold, there's little to no equity left in them to use as funding for the bond. I'm willing to bet that Trump's panic is not at all about having to pay the bond amount, and has everything to do with the truth of his actual value being revealed.

Leticia James isn't buying it. “There is nothing unusual about even billion-dollar judgments being fully bonded on appeal.”

This is the best summary I could come up with:

Former President Donald Trump is in panic mode as the deadline approaches to secure a half-billion-dollar bond to appeal his civil fraud case in New York, according to multiple sources familiar with his thinking.

Privately, Trump had been counting on Chubb, which underwrote his $91.6 million bond to cover the E. Jean Carroll judgment, to come through, but the insurance giant informed his attorneys in the last several days that that option was off the table.

The presumptive GOP presidential nominee himself has become increasingly concerned about the optics the March 25 deadline could present – especially the prospect that someone whose identity has long been tied to his wealth would confront financial crisis.

Shortly before 6:30 a.m. Tuesday, Trump took those grievances public, posting on his social media platform eight times within two hours about the deadline, arguing that he shouldn’t have to put up the money and worrying that he “would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone.”

“President Trump has filed a motion to stay the unjust, unconstitutional, un-American judgment from New York Judge Arthur Engoron in a political Witch Hunt brought by a corrupt Attorney General.

But his lawyers told the New York appeals court on Monday that he has approached 30 underwriters to back the bond, and the former president himself said on Truth Social he thought it was “practically impossible” for him to post the amount.

The original article contains 638 words, the summary contains 249 words. Saved 61%. I'm a bot and I'm open source!

It would be hilarious if they end up going after Trump Tower, his penthouse appartment and Mar-a-lago first.

Nothing is going to happen. Some court/judge will step in just before the deadline, says this needs a stay despite the lack of an official appeal request from the defendent. It will need a close examination due to "the historical nature of the case" or some such bullshit. Schedule a review date in October 2024, which will get rescheduled to 2025 because reasons. Then Trump will go spouting everywhere that he beat the courts and "won" his case.

This guy is part of the protected class, for whatever reason.

I hope I'm wrong. But I know, deep down in my plums I'm right.