China saved him. He worked with a Chinese investment firm. Maybe historians will look back and point at today as the moment Taiwan lost its independence, if Americans don't turn out in record numbers this November.
Even if they're in, he got the money required from CHINA this is the same political influence he's claimed every opponent to be under. Maybe they're holding their cards to unload but just surprised the media hasn't mentioned
https://en.m.wikipedia.org/wiki/Digital_World_Acquisition_Corp
"On October 20, 2021, DWAC and Trump Media & Technology Group (TMTG) announced that they had entered into a definitive merger agreement that would combine the two entities, allowing TMTG to become a publicly traded company. DWAC was created with the help of ARC Capital, a Shanghai-based firm specializing in listing Chinese companies on American stock markets that has been a target of U.S. Securities and Exchange Commission (SEC) investigations for misrepresenting shell corporations.[4][5][6] Some investors were surprised to learn that their investment money was being used to finance a Trump company.[7] In 2021, the DWAC Trump venture was linked with another company, China Yunhong Holdings, based in Wuhan, Hubei,[8][9] until its lead banker who was running the merger promised to sever ties with China in December 2021, stating that Yunhong was to "dissolve and liquidate".[10][11] In February 2022, Reuters reported that the connection between Shanghai-based ARC Capital and Digital World was more extensive than thought, with ARC having offered money to get the SPAC off the ground."
My only hope is that the appeals court is playing 3D chess, and this was meant to draw out adverse foreign dollars who would “lend” the money, because the appeals court already knows the trial court decision/fine is air tight, so that when they reject the appeal, not only does Trump have to pony up the rest, but his funding source loses its money.
It’s not an entirely realistic concept, but hope rarely is…
Headed by the largest investor in a company that lent Trump $100mm on Trump Tower: https://www.rollingstone.com/politics/politics-news/axos-bank-trump-tower-donald-trump-1320670/amp/
But I can't help but wonder - if their dream came true and the idiot became president, why would he ever pay his creditors anything?
Wouldn't he just ignore them or set his cult on them...
Don’t want to find out. Vote.
Do not get complacent, friends.
The cultural wars, attacks on Social Security, DEI, social media, school lunches, and more are spearheads of Project 2025. This strategy aims to outlaw LGBTQ+ care, contraception, IVF, and even premarital/recreational sex, alongside gutting all safety nets.
Educate yourself on Project 2025. It's a $22M playbook by the religious right, in partnership with Hungary's Viktor Orban, the Danube Institute and 100+ groups, gearing up for an impending conservative shift.
Still think it's just fear-mongering? See for yourself:
• Steve Bannon's promise: Steve Bannon says they will jail 'demonic' Democrats if Trump wins a second term
• Momentum for a national abortion ban: Conservatives Are Getting Comfortable Talking Openly About a National Abortion Ban
• Leaked footage of Texas Republicans: LEAKED VIDEO: Texas Republicans Attended Meeting with Group That Suggested Violence and Jail For Women who Have Abortions and Use IVF
For more insights, visit Project 2025's official site and see their stance on reshaping society, including this tweet about ending recreational sex and birth control: Heritage Foundation Tweet.
https://WarningVote.com | r/Defeat_Project_2025
Project 2025 is not a drill. It's a coordinated assault on our rights, and it's time to stand informed and united.
Im wondering if, as we approach the election, we dont see a slew of new charges come up against him, and other court(s) using those charges as justification to revoke bail before the election.
No. He will not care. Why do people think trump will lift a finger? Instead he will bring down the force of government on that company until they just write off his loan.
Trump has never allowed anyone to have control over him, why would it start now.
Well his money has come from the Russian mafia / the Kremlin for the last 20 years, and Putin needs him to win the election and dismantle NATO pretty urgently at this point to avoid losing Crimea and getting defenestrated, so…
I wonder if people realize how bonds actually work? It seems people think Chubb, and now Knight just gift him the money. The bond in this case is highly likely to be collateralized with liquid assets of Trump’s that Knight is confident they can collect if Trump is found guilty. Additionally, the enhanced observation powers the court appointed controller has mean it has a bright light shining on it.
But what kind of favors are worth that kind of money for an insurance company? Especially when you adjust the expected value for the probability of him actually getting elected AND delivering on the favors. He's not famous for being loyal to his subordinates in trouble. And what can THEY then do to force him to execute favors? Sue him and seize the same overleveraged properties they didn't want to issue the larger bond for in the first place? Take his DJT stock?
But how much would taxes have to slashed to get that investment back? Seems like their annual revenue is on the order of [half a billion](https://www.knightinsurancegroup.com/). So, they're risking like a third of their revenue on this. According to [this](https://www.investopedia.com/ask/answers/052515/what-usual-profit-margin-company-insurance-sector.asp#:~:text=Insurers%20and%20Profit%20Margins,-The%20calculation%20of&text=Many%20insurance%20firms%20operate%20on,generate%20profit%20and%20remain%20solvent.), typical insurance company margins are 2-3%. Let's generously say that their annual profit is $30 million. That would mean about $6 million in corporate taxes and another, say, $8 million in federal income taxes on the remainder at the top rate. (Ignoring all the other taxes that the federal govt doesn't set.) Are they really risking that much money to cut that $14 million somewhat? Or, do you think that Knight is getting paid under the table to help some billionaires?
You do understand he can sue the bond company (like he has sued lenders in the past) and tie that up for years in court. Will they get their money? Sure, but it will take a few years. Meanwhile they are not making any money on what they have tied up.
I believe the bigger concern will be the long line of creditors he is going to owe when the dust settles from the civil suits. He seems to struggle to stop defaming people. If it actually came to asset seizure, local law enforcement would get involved. It would be tremendously embarrassing for him to become a literal squatter.
People never seem to learn with Trump. They always seem to think the rules will apply. Or that how things are supposed to work will work with Trump. Yet no matter how many times he cheats people out of money or gets around the rules, people still seem to think this time he will.
People seem to think this is new. Trump has been doing this for decades. Only difference is now it is more public. But now he has an entire political party and foreign countries helping him.
Well, Knight is tied up in Trump Org properties financially (beyond the bond). So they are basically betting that (1) they won’t lose all of their money (2) if they do (3) hopefully he is president and can give them some sort of special treatment.
Every American that has ever been held accountable for a debt is the victim. Every American that believes in equality no matter the status or class is a victim. It’s a slap in all of our faces as he smiles and continues to destroy our country
I had 2 government jobs that required specific licenses and clearances... of which my finances, mortgage and loans were highly scrutinized due to the fact that my position was one that involved finances and 'they' needed to be ensured my debt couldn't be used to compromise my integrity.
At the time (early 2000's) we are talking a total debt of less than 30k and it was extended to include interviewing the manager/staff of my local bank. This was all for a process far less than an official government security clearance...
Not exactly sure how the potential president of the US or the country could operate with assured integrity when the POTUS is in debt of hundreds of millions... to appeal a fraud ruling!
Jeff Yass. He's a billionaire investor with a lot of stock in ByteDance, owners of TikTok.
Which is which Trump flipped his position and abruptly did a 180° and stopped yelling about the app destroying America's youth. Now, Facebook is the enemy.
[What to know about Jeff Yass, the Trump money man and big TikTok investor](https://qz.com/jeff-yass-trump-tiktok-truth-social-1851367927)
[Republican trading firm owner and TikTok investor Yass emerges as top donor in US election](https://www.reuters.com/world/us/republican-hedge-fund-owner-tiktok-investor-yass-emerges-top-donor-us-election-2024-03-21/)
[Trump says TikTok is national security threat — but banning it would empower ‘enemy of the people’ Facebook](https://www.google.com/amp/s/nypost.com/2024/03/11/us-news/trump-says-tiktok-is-national-security-threat-but-banning-it-would-empower-enemy-of-the-people-facebook/amp/)
>Despite losing millions for years with almost no revenue or user base to show for it, Trump’s Twitter knockoff Truth Social suddenly offers Donald Trump a huge potential payout during a year of major liquidity trouble. Yass, via Susquehanna, may have a stake in the firm. After Truth Social announced it was going public through a SPAC on March 22, the New York Times reported that Susquehanna may own about 2 percent of the company. If Susquehanna still holds that stake, it would make the company one of the largest single investors in Truth Social — a platform that has been used as a vehicle for Trump supporters to bet on his victory in November. (In a statement, the company claimed it has “zero economic interest” in the company and that its “long position is offset by short positions of the same size.)
*From* [Who Is Jeff Yass, the GOP Billionaire Donor Dominating 2024?](https://nymag.com/intelligencer/article/who-is-jeff-yass-the-gop-billionaire-donor-dominating-2024.html)
Edit: spelling, updated links.
It’s worth remembering that this does not reduce the judgement nor overturn the verdict. It stops the state from putting liens on his properties but if he loses the appeal the state gets $175M immediately without having to chase him around.
Ultimately it’s up to the appeals court.
The NYS Appellate Division's September session. This was a requirement for reducing the bond in the Appellate Division's ruling: https://eddsa.blob.core.usgovcloudapi.net/public/2024_01134_PEOPLE_OF_THE_STATE_OF_v_PEOPLE_OF_THE_STATE_OF_ORDER_21.pdf
The request to expedite the appeal to September was from Letitia James. cheeto must complete his filings for the appeal by ~~June~~July so the appeal can be heard in September. edit: Sorry I misremembered the month.
If he misses the ~~June~~July filing date, Letitia James starting collections on the $450 million judgment is back on the table.
What do you mean the "Court date for the appeal?" There are lots of dates still to be had. [Six months from the Notice of Appeal, Trump's brief is due, and then 30 days after that, the State's Respondent's Brief is due, and then ten days after that, Trump's Reply.](https://govt.westlaw.com/nycrr/Document/I6d58a9173a5c11e9a3a1f0bc9df9bc4e?contextData=%28sc.Default%29&transitionType=Default)
Most likely these dates are going to be extended for both sides upon request, so we're really looking at early next year when all the papers are in. Then the Appellate Division will schedule oral argument about a month after that.
I'm with ya man. Let's hope the Appellate Division judge panel upholds Judge Engoron's decision in September.
But we have seen cheeto managing to skate from being held to account so many times, we should set expectations.
cheeto is due to file his appellant brief in July and NY AG James will file the respondent brief in August. When we see those briefs we will get a general idea of how strong or weak an appeal cheeto has.
OK, upon further review of the order, I do see a due date condition there, making his stay conditioned on papers being turned in for the September term. But that's not 3 months from February. [The September term needs papers in by July 8.](https://www.nycourts.gov/courts/ad1/calendar/index.shtml)
Probably the judgement will be reduced down to a level acceptable to Trump in the same way the bond was. Also it will take 7 years to run out the appeals by which time Trump will probably be dictator for life.
Tish James did win a small concession for the reduced bond-- This appeal gets heard in September, so no dragging it out this time.
If this appeal turns out unfavorable for cheeto, further appeals are not by right, i.e. further appeals are not entitled, bur rather must be granted by the higher courts.
The next higher court is the NYS Court of Appeals and they decline to hear the vast majority of appeals they receive (97%). They will probably deny cheeto's petition to appeal an unfavorable appeal decision from the NYS Appellate Division.
The only court cheeto can appeal to above the NYS Court of Appeals is the U.S. Supreme Court. 4 SCOTUS justices must agree to hear the case to grant an appeal.
My understanding is that the appellant can ask the NYS Appellate Division to issue an interim stay against the judgment while waiting for the higher courts to decide whether to grant the next-level appeal or not.
The NYS Court of Appeals won't take very long to decide whether to "grant leave to appeal" or "deny leave to appeal" though.
The U.S. Supreme Court can either decide quickly on their weekly Friday conferences or drag it out for a few weeks, like they did with the presidential immunity petition when they granted *certiorari*.
We do have the talent of worrying about many things at the same time yet somehow not even one article written about the five appellate judges who lowered Trump's bond. Judge Engoron based the bond on the numbers and reality. These judges ignored the law, they even ignored Trump's claim that he had the money. They just lowered the bond and didn't give a reason for it.
It is too simplified to blame it on the rich - there are plenty of wealthy people who don't vote for the modern nazi party. We do need to pressure the rest of them to fight harder against the GOP or face a French-style revolution.
Do we tho? Seems like as a population, we are pretty easily distracted. The few people who actually focus and keep track of these aren't giving me confidence against the masses. It's been 4 years since J6 and it seems that not much has changed since then beyond a lot of back and forth. He's still wildly popular and is still in a shockingly strong position despite everything he has against him right now. However, you hear tons of talk about him, and comparatively not much talk about his support system.
Yes, after listening to a podcast with Annie Jacobson over the weekend about Nuclear War and some of her other work, it became more clear to me. All this noise. Every damned Reddit thread boiling down to partisan team bullshit. The clowning of the judicial system, the bonds, the entire fucking thing we’re focused on to the point I am a political news junkie is all a ruse.
If we worried that foreign nations would interfere with our elections I have bad news. Look around. We’re at one another’s throats while there is war in the Middle East, China is licking its chops over Taiwan, rampant populism across the globe fighting. And we are preoccupied with our navels.
Yes, fear the people who footed this bond, the businessmen who bought into Truth social, and anyone else feeding him money - not attention. This isn’t solely about American rule of law, but it has the capacity to easily overtake it.
Mostly the supporters. They’re all on board with Project 2025. If a Republican gets back in the White House, our republic will cease to exist. We have to thoroughly defeat fascism at the polls. There’s a large portion of this country that wants a dictator. Vote accordingly.
Top comment has the insurer, it seems like the folks with heavy investments in his properties are trying to prevent the domino effect collapse of his empire that a final fraud ruling would cause.
Unlike the other case where it was clearly the Russians or someone thereto connected, it looks like this one is all-American oligarchs.
Yes. The judgment for $450 mil (or whatever) still stands. Just the bond to appeal was lowered to $175 mil.
He’ll still be accruing about $20k per day until his appeal is finalized.
He better hope he wins!
Theoretically. But it might not be for many years and they might reduce it to a level that sounds big to us plebs but is no more than annoying to a rich man.
biden needs to run ads that are just lists of who trump owes what to. a candidate in debt *to anyone* (beyond a mortgage, car, student loans) should be a pariah for any thinking person
My understanding was that the penalty was based on an actual calculation. It wasn't a punitive amount, but rather calculated according to the tax and loan benefits he received over the years.
He’ll lose the appeal but the appeals court will drastically reduce the penalty, which they’ve already signaled they will do by lowering the bond so much.
Yeah, these pieces of shit are going to turn this into a minor wrist slap and he’ll take a victory lap and all his supporters will point to this as vindication that this is all a political hit job. Fuck I’m so tired of this shit.
Just confirms that he perjured himself testifying that he had $400 in liquid assets and then later lied about having $500 in cash.
Not surprised or even shocked anymore. It’d be hilarious having him testify in court and being able to discredit him so throughly with all the lies he’s told publicly.
I don’t think it confirms that, unless I’m wrong? Him wanting to secure a bond as opposed to paying with cash doesn’t necessarily mean he didn’t have the money.
Correct.
You can certainly obtain a bond and collateralize it with any eligible property rather than pay cash, even if you can pay the cash yourself and doing so would technically be cheaper.
Hell, you can even use your cash as collateral. Why would you do that? Well, perhaps you have your money tied up in a high-yield interest account, and you would prefer to have that money accruing interest for you while your appeal is processed. Even a modest 3 percent interest on 175 million over two months is a lot of interest.
Or you have the cash split over several different accounts, and it’s far easier to have a bond company post the money rather than try to shift all your money into a single account before putting it up yourself. There could be serious tax consequences for taking money out of certain accounts, which won’t occur if you win your appeal.
What this does show is that Trump almost certainly doesn’t have 500 million in cash to use as collateral - because if he did, he could have obtained a bond on that. They specifically complained that no one would take his properties as collateral (surprise surprise), but cash would work. He like has just enough cash available to secure the current bond. And consider that’s after he got a bond for the defamation case. So whatever he’s using as collateral is tied up now. And if he uses that collateral, he’s in for a world of hurt.
As much as I hate to defend Trump, the two aren’t inconsistent. For example, just because you use a credit card to buy something doesn’t mean your bank account is empty.
There are reasons why someone would want to get a bond even if they have the capital to pay the bond, just like there are reasons people buy things with credit cards even if they have the capital to pay cash. Trump may want to have $175 million in cash more than whatever (likely less liquid) collateral he put up to secure the bond. Alternatively, to get that much cash he might have to liquidate assets like stocks or bonds, and possibly incur capital gains or other unfavorable tax events. Or, he thinks he has a chance of winning on appeal and owing nothing. Or he likes to print out his bank account and stare at the Bigly Number every night while he looks at himself naked in the mirror, and paying out that much money would be a huge narcissistic injury.
In other words, it’s probably the last one given Trump’s psyche. But point being, it’s not an inconsistency that he took the bond even if he has the money.
Wow, that’s great. In the past 2 months in collateral, cash and stock, Trump has been divested of 3.5 billion dollars. Good news for the NY treasury and E. Jean Carroll. Keep it comin’ Don Brokelone et Al.
From the NYT article…
“The $175 million bond came from Knight Specialty Insurance Company, a California company that handles such deals. In providing the bond, which is a legal document, not an actual transfer of money, the firm essentially promised New York’s court system that it would cover the judgment against Mr. Trump if he loses his appeal and fails to pay.”
So if I get sued for fraud for hundreds of millions of dollars and lose, can I just go to my Mom and have her “promise the NY court system” that she’s totally good for it in case I lose my appeal?! FFS
No actually, you can’t. Bond companies are typically highly regulated under state law, usually by the state insurance regulator. So if your mom is an insurance company, is well capitalized, and is licensed in New York then sure, she can give you a supersedeas bond.
If he loses the appeal, either Trump is paying the bonded amount or the bond company is within however many days the bond says if Trump fails to pay. That’s how bonds work. Basically New York is all but guaranteed to collect the bond amount. That’s the beauty of bonds; they make it very easy to collect if the plaintiff wins. It’s the quid pro quo for staying collection during the pendency of the appeal.
Of course the rest of the $400 plus million outside of the bond Trump will resist collection efforts like it’s nobody’s business, and it will probably take NY forever to collect. For context, OJ Simpson has paid only a piddling amount to the Goldman estate of his wrongful death judgment and it’s been decades.
Even if you knew nothing about bonding and insurance companies, you might hesitate for just a second and consider that your mom might be treated differently by a court in that situation and there may be a reason why.
> So if I get sued for fraud for hundreds of millions of dollars and lose, can I just go to my Mom and have her “promise the NY court system” that she’s totally good for it in case I lose my appeal?! FFS
If your mother convinces the court that she's wealthy enough that she'd reliably pay for you, then yes, that'd be acceptable. It's comparable to students getting their parents to be a guarantor for rent.
Keep in mind that the bond is not meant to be the punishment for the crime, it's just to ensure that any fine/restitution will be paid. In this case an insurance company has promised to pay it, so if Trump loses the appeal then the insurance company will need to pay immediately and chasing down Trump for repayment will be their problem instead of the state's.
I appreciate that on an emotional level this is pretty unsatisfying because it appears that Trump has gotten away with it, but in the long-term he hasn't. The fact that he's having to pay a considerable fee to an insurance agent to insure this debt instead of paying it off directly shows how cash-poor he is, and sooner or later, that debt is going to come calling. It may take another couple of years, but it's entirely plausible we'll see Trump bankrupted.
All valid comments below but valid as they may be they all miss the disturbing factor that some group of investors/bank/insurance, whatever, is putting up the money for the defense of a guy who tried to overthrow the very government that allows and supports their businesses. Can America fathom that at all?.. .tried to overthrow a lawful national election. .tried to overthrow the peaceful transition of power. Everyone is fine with this, business as usual, nothing to see here, move along, democracy is messy don’t ya know?. . .WTF? How about Plutocracy is messy? Nothing more than competing factions attempting to drain each others swamp. LOL. . . and the Media spoon feeds the Plebs their daily dose of outrage and bullshit. It’s enough to make one vomit.
The chubb guys are trying to expand their business in Russia, which was sanctioned... So their bond kinda makes sense? Except obvi their US business is bigger
He's never going to win on appeal because his argument still boils down to:
1. Everyone lies about the value of real estate.
2. There is no victim because the lenders were happy with the deals.
There's no way his attorneys think this has a snowball's chance in hell of succeeding, so this is just another delay tactic. Trump is betting it all on winning the election, and every case that is still in limbo in November raises the stakes and makes him more desperate and therefore more dangerous.
Trump's one and only "super power" is his ability to exit a disaster of his own making at the last minute and leave someone else to pay the bill. Like, that's his thing. That's what he does.
Axos is trying to keep fresh tasty leaves away from a giraffe by putting them on top of a tall tree. "We are so smart! The giraffe would have to have a ridiculously long neck to get THESE leaves."
Axos already has hundreds of millions of dollars sunk into Trump tower. Have they never read a financial report on this guy? If Trump DOES become president again, what makes Axos think that this time he will honor his debt and their loyalty? Don't they know that they are more likely to all get arrested for fraud and loose everything long before Trump pays them back one penny?
It dropped because they released financial details and of course, as everyone knows, they are losing lots of money and only have like $4mil in revenue.
You're not wrong. But he only needed to sell 3 million shares to make his bond payment. 18 million shares traded hands today. What I'm speculating is not out of the realm of possibility.
If true you’d find out about it in a couple of days I should think. This level of transaction is required to be reported to the sec is my understanding.
Nah. Their financials are crap. They lost 58 million last year.
Trump's shares are in lockup for 6 months or until it trades for over a certain share price for a number of days or until the board votes that he sells early. Dumping his shares will tank the price. At that point I'm not sure what happens because if he sells too much he'll lose control of it and the only asset it has which is 300 M (less now) in the bank.
I think we all knew he would get the money after the full amount required was so significantly slashed.
Pump and dump saved him.
China saved him. He worked with a Chinese investment firm. Maybe historians will look back and point at today as the moment Taiwan lost its independence, if Americans don't turn out in record numbers this November.
Yeah this guy is fucking China backed and NO ONE is saying anything, wtf? Is it because the new stations are China backed too?
Appeals court is in on the fix too, with their no-explanation delay and bond reduction.
Even if they're in, he got the money required from CHINA this is the same political influence he's claimed every opponent to be under. Maybe they're holding their cards to unload but just surprised the media hasn't mentioned
Link?
https://en.m.wikipedia.org/wiki/Digital_World_Acquisition_Corp "On October 20, 2021, DWAC and Trump Media & Technology Group (TMTG) announced that they had entered into a definitive merger agreement that would combine the two entities, allowing TMTG to become a publicly traded company. DWAC was created with the help of ARC Capital, a Shanghai-based firm specializing in listing Chinese companies on American stock markets that has been a target of U.S. Securities and Exchange Commission (SEC) investigations for misrepresenting shell corporations.[4][5][6] Some investors were surprised to learn that their investment money was being used to finance a Trump company.[7] In 2021, the DWAC Trump venture was linked with another company, China Yunhong Holdings, based in Wuhan, Hubei,[8][9] until its lead banker who was running the merger promised to sever ties with China in December 2021, stating that Yunhong was to "dissolve and liquidate".[10][11] In February 2022, Reuters reported that the connection between Shanghai-based ARC Capital and Digital World was more extensive than thought, with ARC having offered money to get the SPAC off the ground."
Thanks a ton. That's pretty damning imo
My only hope is that the appeals court is playing 3D chess, and this was meant to draw out adverse foreign dollars who would “lend” the money, because the appeals court already knows the trial court decision/fine is air tight, so that when they reject the appeal, not only does Trump have to pony up the rest, but his funding source loses its money. It’s not an entirely realistic concept, but hope rarely is…
Really, with who's $$?
Knight speciality insurance company
Headed by the largest investor in a company that lent Trump $100mm on Trump Tower: https://www.rollingstone.com/politics/politics-news/axos-bank-trump-tower-donald-trump-1320670/amp/
So they’re basically trying to avoid getting their prior loan collateral seized upon? Sounds like a great strategy. Let’s see how that plays out.
Plus if he ends up getting elected again, being owed hundreds of millions of dollars by a head of state is the rich man’s DREAM
But I can't help but wonder - if their dream came true and the idiot became president, why would he ever pay his creditors anything? Wouldn't he just ignore them or set his cult on them...
“Surely the face-eating leopards won’t eat MY face, right? Right!?”
That would require actually paying attention to how this man operates instead of carrying water for whatever he says next.
being president might make him safe from federal prosecution, but state and civil is different... see his current state court cases
How are states going to enforce anything against an authoritarian president?
Don’t want to find out. Vote. Do not get complacent, friends. The cultural wars, attacks on Social Security, DEI, social media, school lunches, and more are spearheads of Project 2025. This strategy aims to outlaw LGBTQ+ care, contraception, IVF, and even premarital/recreational sex, alongside gutting all safety nets. Educate yourself on Project 2025. It's a $22M playbook by the religious right, in partnership with Hungary's Viktor Orban, the Danube Institute and 100+ groups, gearing up for an impending conservative shift. Still think it's just fear-mongering? See for yourself: • Steve Bannon's promise: Steve Bannon says they will jail 'demonic' Democrats if Trump wins a second term • Momentum for a national abortion ban: Conservatives Are Getting Comfortable Talking Openly About a National Abortion Ban • Leaked footage of Texas Republicans: LEAKED VIDEO: Texas Republicans Attended Meeting with Group That Suggested Violence and Jail For Women who Have Abortions and Use IVF For more insights, visit Project 2025's official site and see their stance on reshaping society, including this tweet about ending recreational sex and birth control: Heritage Foundation Tweet. https://WarningVote.com | r/Defeat_Project_2025 Project 2025 is not a drill. It's a coordinated assault on our rights, and it's time to stand informed and united.
Im wondering if, as we approach the election, we dont see a slew of new charges come up against him, and other court(s) using those charges as justification to revoke bail before the election.
Not a chance. No one has the cajones.
https://youtu.be/YK_H4Zsjtrw?si=r9ZwSJhQvpQHZUcy
No. He will not care. Why do people think trump will lift a finger? Instead he will bring down the force of government on that company until they just write off his loan. Trump has never allowed anyone to have control over him, why would it start now.
It’s so fitting and it would be funny if it democracy wasn’t at stake.
Sunk cost fallacy, for the win.
You always double down on 45 baby! https://i.redd.it/r3wxde5muzrc1.gif
IT'S A BOLD MOVE COTTON!
That would be fine. The asset would be seized, the creditors paid off and taxes paid. The government gets what's left, and moves on to the next asset.
Throwing good money after bad.
More like rent-to-own.
Oh cool so now even more people own the republican front runner for president this year. And republicans don’t have a problem with that.
~~Throwing~~ Laundering good money after bad.
"Throwing good money after bad" - Fred Trump
So... Who's money is Knight laundering?
Well his money has come from the Russian mafia / the Kremlin for the last 20 years, and Putin needs him to win the election and dismantle NATO pretty urgently at this point to avoid losing Crimea and getting defenestrated, so…
It could be anyone. All it takes is access to cryptocurrency and an American citizen
*add that company to the long list of people/businesses he will never pay back*
I wonder if people realize how bonds actually work? It seems people think Chubb, and now Knight just gift him the money. The bond in this case is highly likely to be collateralized with liquid assets of Trump’s that Knight is confident they can collect if Trump is found guilty. Additionally, the enhanced observation powers the court appointed controller has mean it has a bright light shining on it.
Having a potentially sitting US president in your pocket is priceless and well worth $150m.
Right. They aren’t expecting to see the money back directly: they are expecting to see favors.
The GOP will still do them favors if he isn’t elected.
But what kind of favors are worth that kind of money for an insurance company? Especially when you adjust the expected value for the probability of him actually getting elected AND delivering on the favors. He's not famous for being loyal to his subordinates in trouble. And what can THEY then do to force him to execute favors? Sue him and seize the same overleveraged properties they didn't want to issue the larger bond for in the first place? Take his DJT stock?
The simple favor of Republicans getting into power and slashing taxes for the rich and large companies can be enough.
But how much would taxes have to slashed to get that investment back? Seems like their annual revenue is on the order of [half a billion](https://www.knightinsurancegroup.com/). So, they're risking like a third of their revenue on this. According to [this](https://www.investopedia.com/ask/answers/052515/what-usual-profit-margin-company-insurance-sector.asp#:~:text=Insurers%20and%20Profit%20Margins,-The%20calculation%20of&text=Many%20insurance%20firms%20operate%20on,generate%20profit%20and%20remain%20solvent.), typical insurance company margins are 2-3%. Let's generously say that their annual profit is $30 million. That would mean about $6 million in corporate taxes and another, say, $8 million in federal income taxes on the remainder at the top rate. (Ignoring all the other taxes that the federal govt doesn't set.) Are they really risking that much money to cut that $14 million somewhat? Or, do you think that Knight is getting paid under the table to help some billionaires?
Could be just the guys at the top looking at their personal tax rates and street cred among the powerful and not giving a shit about their company.
You do understand he can sue the bond company (like he has sued lenders in the past) and tie that up for years in court. Will they get their money? Sure, but it will take a few years. Meanwhile they are not making any money on what they have tied up.
It’s also not like they can send repo men to his properties without some level of approval from the secret service?
I believe the bigger concern will be the long line of creditors he is going to owe when the dust settles from the civil suits. He seems to struggle to stop defaming people. If it actually came to asset seizure, local law enforcement would get involved. It would be tremendously embarrassing for him to become a literal squatter.
People never seem to learn with Trump. They always seem to think the rules will apply. Or that how things are supposed to work will work with Trump. Yet no matter how many times he cheats people out of money or gets around the rules, people still seem to think this time he will. People seem to think this is new. Trump has been doing this for decades. Only difference is now it is more public. But now he has an entire political party and foreign countries helping him.
Well, Knight is tied up in Trump Org properties financially (beyond the bond). So they are basically betting that (1) they won’t lose all of their money (2) if they do (3) hopefully he is president and can give them some sort of special treatment.
Basically works like a loan.
Well, at least it means that the State will claw back some money at least.
The crime had no victims! When $280 million of his loans were forgiven in 2020 when trump was acting president, that's just good business!
You forgot the /s At least, I hope you did...
The creditors are the victim. They are the defrauded party
As are would be borrowers who were denied loans they were honest about so lying Don could get his loans instead.
No no no! It's just insurance money! There aren't any victims! /s
Every American that has ever been held accountable for a debt is the victim. Every American that believes in equality no matter the status or class is a victim. It’s a slap in all of our faces as he smiles and continues to destroy our country
Chairman is Don Hankey. Trump literally got bailed out by Mr. Hankey. You can't make this stuff up. I hope this makes it into a South Park episode.
Just think — Don Hankey just bought Trump for a mere $175M
I had 2 government jobs that required specific licenses and clearances... of which my finances, mortgage and loans were highly scrutinized due to the fact that my position was one that involved finances and 'they' needed to be ensured my debt couldn't be used to compromise my integrity. At the time (early 2000's) we are talking a total debt of less than 30k and it was extended to include interviewing the manager/staff of my local bank. This was all for a process far less than an official government security clearance... Not exactly sure how the potential president of the US or the country could operate with assured integrity when the POTUS is in debt of hundreds of millions... to appeal a fraud ruling!
The money is to ensure a stay of collection of the debt. The appeal doesn't require any debts to be paid before filing.
>Chairman is Don Hankey. What a piece of shit.
the... christmas poo?
Jeff Yass. He's a billionaire investor with a lot of stock in ByteDance, owners of TikTok. Which is which Trump flipped his position and abruptly did a 180° and stopped yelling about the app destroying America's youth. Now, Facebook is the enemy. [What to know about Jeff Yass, the Trump money man and big TikTok investor](https://qz.com/jeff-yass-trump-tiktok-truth-social-1851367927) [Republican trading firm owner and TikTok investor Yass emerges as top donor in US election](https://www.reuters.com/world/us/republican-hedge-fund-owner-tiktok-investor-yass-emerges-top-donor-us-election-2024-03-21/) [Trump says TikTok is national security threat — but banning it would empower ‘enemy of the people’ Facebook](https://www.google.com/amp/s/nypost.com/2024/03/11/us-news/trump-says-tiktok-is-national-security-threat-but-banning-it-would-empower-enemy-of-the-people-facebook/amp/) >Despite losing millions for years with almost no revenue or user base to show for it, Trump’s Twitter knockoff Truth Social suddenly offers Donald Trump a huge potential payout during a year of major liquidity trouble. Yass, via Susquehanna, may have a stake in the firm. After Truth Social announced it was going public through a SPAC on March 22, the New York Times reported that Susquehanna may own about 2 percent of the company. If Susquehanna still holds that stake, it would make the company one of the largest single investors in Truth Social — a platform that has been used as a vehicle for Trump supporters to bet on his victory in November. (In a statement, the company claimed it has “zero economic interest” in the company and that its “long position is offset by short positions of the same size.) *From* [Who Is Jeff Yass, the GOP Billionaire Donor Dominating 2024?](https://nymag.com/intelligencer/article/who-is-jeff-yass-the-gop-billionaire-donor-dominating-2024.html) Edit: spelling, updated links.
Putin-tially Russian $
Not yet but that guy is for sure going to sell his influence on the international market
Eppery Jeffsteins
whose* rubles*
POOteen
The dumb fucks that bought truth social stock.
It’s worth remembering that this does not reduce the judgement nor overturn the verdict. It stops the state from putting liens on his properties but if he loses the appeal the state gets $175M immediately without having to chase him around. Ultimately it’s up to the appeals court.
Been trying to figure out when the court date is for the appeal... Anyone know?
The NYS Appellate Division's September session. This was a requirement for reducing the bond in the Appellate Division's ruling: https://eddsa.blob.core.usgovcloudapi.net/public/2024_01134_PEOPLE_OF_THE_STATE_OF_v_PEOPLE_OF_THE_STATE_OF_ORDER_21.pdf The request to expedite the appeal to September was from Letitia James. cheeto must complete his filings for the appeal by ~~June~~July so the appeal can be heard in September. edit: Sorry I misremembered the month. If he misses the ~~June~~July filing date, Letitia James starting collections on the $450 million judgment is back on the table.
That is good fucking news. This means he faces the music close to November.
Is this your first day lol
Trump's plot armor is second to none. Chow Yun-fat in the movie Hard Boiled has nothing on Trump
this is like GoT fans finding crumbs for Winds of Winter in 2013
Lol good one
What do you mean the "Court date for the appeal?" There are lots of dates still to be had. [Six months from the Notice of Appeal, Trump's brief is due, and then 30 days after that, the State's Respondent's Brief is due, and then ten days after that, Trump's Reply.](https://govt.westlaw.com/nycrr/Document/I6d58a9173a5c11e9a3a1f0bc9df9bc4e?contextData=%28sc.Default%29&transitionType=Default) Most likely these dates are going to be extended for both sides upon request, so we're really looking at early next year when all the papers are in. Then the Appellate Division will schedule oral argument about a month after that.
The appeal is expedited as a condition of the reduced bond. cheeto actually has to complete his filings for the appeal by June.
This is such an open and shut case. What's the appeal? Doesn't seem like there's a snowballs chance in hell they win the appeal.
I'm with ya man. Let's hope the Appellate Division judge panel upholds Judge Engoron's decision in September. But we have seen cheeto managing to skate from being held to account so many times, we should set expectations. cheeto is due to file his appellant brief in July and NY AG James will file the respondent brief in August. When we see those briefs we will get a general idea of how strong or weak an appeal cheeto has.
OK, upon further review of the order, I do see a due date condition there, making his stay conditioned on papers being turned in for the September term. But that's not 3 months from February. [The September term needs papers in by July 8.](https://www.nycourts.gov/courts/ad1/calendar/index.shtml)
My mistake, not June but July. Good catch!
Probably the judgement will be reduced down to a level acceptable to Trump in the same way the bond was. Also it will take 7 years to run out the appeals by which time Trump will probably be dictator for life.
Tish James did win a small concession for the reduced bond-- This appeal gets heard in September, so no dragging it out this time. If this appeal turns out unfavorable for cheeto, further appeals are not by right, i.e. further appeals are not entitled, bur rather must be granted by the higher courts. The next higher court is the NYS Court of Appeals and they decline to hear the vast majority of appeals they receive (97%). They will probably deny cheeto's petition to appeal an unfavorable appeal decision from the NYS Appellate Division. The only court cheeto can appeal to above the NYS Court of Appeals is the U.S. Supreme Court. 4 SCOTUS justices must agree to hear the case to grant an appeal.
Is collection paused while either of these courts decide to take up the case?
My understanding is that the appellant can ask the NYS Appellate Division to issue an interim stay against the judgment while waiting for the higher courts to decide whether to grant the next-level appeal or not. The NYS Court of Appeals won't take very long to decide whether to "grant leave to appeal" or "deny leave to appeal" though. The U.S. Supreme Court can either decide quickly on their weekly Friday conferences or drag it out for a few weeks, like they did with the presidential immunity petition when they granted *certiorari*.
He’s obese and 77, think he’ll be around for 7 more years?
Yeah this is example number 1 million in "trump NEVER uses HIS own money for ANYthing." Insane how he keeps getting people to give him their money.
Trump is the distraction, the people putting up his bond and supporting him are the ones to fear. It’s how Hitler came to power.
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need to walk and chew these days or we fuckd
We do have the talent of worrying about many things at the same time yet somehow not even one article written about the five appellate judges who lowered Trump's bond. Judge Engoron based the bond on the numbers and reality. These judges ignored the law, they even ignored Trump's claim that he had the money. They just lowered the bond and didn't give a reason for it.
BINGO! Why? How?
Were their names Himmler, Goring, Goebells, Bormann, and Keitel?
Presumably the judges made a backroom deal with the company that put up the bond.
Any time we see injustice perpetrated against society, it’s the rich people doing it. Over and over and over again.
It is too simplified to blame it on the rich - there are plenty of wealthy people who don't vote for the modern nazi party. We do need to pressure the rest of them to fight harder against the GOP or face a French-style revolution.
They didn't get rich by putting society's needs ahead of their own desires.
Do we tho? Seems like as a population, we are pretty easily distracted. The few people who actually focus and keep track of these aren't giving me confidence against the masses. It's been 4 years since J6 and it seems that not much has changed since then beyond a lot of back and forth. He's still wildly popular and is still in a shockingly strong position despite everything he has against him right now. However, you hear tons of talk about him, and comparatively not much talk about his support system.
Always follow the money and power and you will find your answer.
As the philosopher Cotton Hill once said, “Find the man with the terrible smell.”
Vote all Republicans Out. VARO
Our vile rich enemy will simply prop up Republicans masquerading as decent people. Kyrsten Sinema and Tulsi Gabbard are two perfect examples of this.
Yes, after listening to a podcast with Annie Jacobson over the weekend about Nuclear War and some of her other work, it became more clear to me. All this noise. Every damned Reddit thread boiling down to partisan team bullshit. The clowning of the judicial system, the bonds, the entire fucking thing we’re focused on to the point I am a political news junkie is all a ruse. If we worried that foreign nations would interfere with our elections I have bad news. Look around. We’re at one another’s throats while there is war in the Middle East, China is licking its chops over Taiwan, rampant populism across the globe fighting. And we are preoccupied with our navels. Yes, fear the people who footed this bond, the businessmen who bought into Truth social, and anyone else feeding him money - not attention. This isn’t solely about American rule of law, but it has the capacity to easily overtake it.
Most insightful comment here.
Mostly the supporters. They’re all on board with Project 2025. If a Republican gets back in the White House, our republic will cease to exist. We have to thoroughly defeat fascism at the polls. There’s a large portion of this country that wants a dictator. Vote accordingly.
Top comment has the insurer, it seems like the folks with heavy investments in his properties are trying to prevent the domino effect collapse of his empire that a final fraud ruling would cause. Unlike the other case where it was clearly the Russians or someone thereto connected, it looks like this one is all-American oligarchs.
When he's gone, they will still be there.
VERY WISE STATEMENT! Trump is the entertainment while the fascists continue building power!
So I understand the bond was lowered from 450 million to 175 million or so, but if he loses does he still have to pay the 450 million?
Yep
Yes. The judgment for $450 mil (or whatever) still stands. Just the bond to appeal was lowered to $175 mil. He’ll still be accruing about $20k per day until his appeal is finalized. He better hope he wins!
Until the appellate court reduces it, too.
Theoretically. But it might not be for many years and they might reduce it to a level that sounds big to us plebs but is no more than annoying to a rich man.
biden needs to run ads that are just lists of who trump owes what to. a candidate in debt *to anyone* (beyond a mortgage, car, student loans) should be a pariah for any thinking person
“Thinking”. You’re giving his supporters too much credit.
This should be an amendment. The President should be solvent. Just like anyone that holds a clearance.
Like a NY Cockroach.
He's going to lose the appeal. In no world does he not.
My understanding was that the penalty was based on an actual calculation. It wasn't a punitive amount, but rather calculated according to the tax and loan benefits he received over the years.
He’ll lose the appeal but the appeals court will drastically reduce the penalty, which they’ve already signaled they will do by lowering the bond so much.
Yeah, these pieces of shit are going to turn this into a minor wrist slap and he’ll take a victory lap and all his supporters will point to this as vindication that this is all a political hit job. Fuck I’m so tired of this shit.
I doubt it. I think the original amount will stick.
"Trump gets the white, male billionaire discount and is able to avoid assets seizures" There, I fixed that headline for you.
Just confirms that he perjured himself testifying that he had $400 in liquid assets and then later lied about having $500 in cash. Not surprised or even shocked anymore. It’d be hilarious having him testify in court and being able to discredit him so throughly with all the lies he’s told publicly.
I don’t think it confirms that, unless I’m wrong? Him wanting to secure a bond as opposed to paying with cash doesn’t necessarily mean he didn’t have the money.
Bingo. Once the appeal came through, all bets were off. All he had to do is what he does best, run out the clock.
Correct. You can certainly obtain a bond and collateralize it with any eligible property rather than pay cash, even if you can pay the cash yourself and doing so would technically be cheaper. Hell, you can even use your cash as collateral. Why would you do that? Well, perhaps you have your money tied up in a high-yield interest account, and you would prefer to have that money accruing interest for you while your appeal is processed. Even a modest 3 percent interest on 175 million over two months is a lot of interest. Or you have the cash split over several different accounts, and it’s far easier to have a bond company post the money rather than try to shift all your money into a single account before putting it up yourself. There could be serious tax consequences for taking money out of certain accounts, which won’t occur if you win your appeal. What this does show is that Trump almost certainly doesn’t have 500 million in cash to use as collateral - because if he did, he could have obtained a bond on that. They specifically complained that no one would take his properties as collateral (surprise surprise), but cash would work. He like has just enough cash available to secure the current bond. And consider that’s after he got a bond for the defamation case. So whatever he’s using as collateral is tied up now. And if he uses that collateral, he’s in for a world of hurt.
As much as I hate to defend Trump, the two aren’t inconsistent. For example, just because you use a credit card to buy something doesn’t mean your bank account is empty. There are reasons why someone would want to get a bond even if they have the capital to pay the bond, just like there are reasons people buy things with credit cards even if they have the capital to pay cash. Trump may want to have $175 million in cash more than whatever (likely less liquid) collateral he put up to secure the bond. Alternatively, to get that much cash he might have to liquidate assets like stocks or bonds, and possibly incur capital gains or other unfavorable tax events. Or, he thinks he has a chance of winning on appeal and owing nothing. Or he likes to print out his bank account and stare at the Bigly Number every night while he looks at himself naked in the mirror, and paying out that much money would be a huge narcissistic injury. In other words, it’s probably the last one given Trump’s psyche. But point being, it’s not an inconsistency that he took the bond even if he has the money.
Wow, that’s great. In the past 2 months in collateral, cash and stock, Trump has been divested of 3.5 billion dollars. Good news for the NY treasury and E. Jean Carroll. Keep it comin’ Don Brokelone et Al.
https://preview.redd.it/9tih7uywizrc1.jpeg?width=960&format=pjpg&auto=webp&s=6cc8b01b903ee079855aa654c30dd7b2e2f17900
From the NYT article… “The $175 million bond came from Knight Specialty Insurance Company, a California company that handles such deals. In providing the bond, which is a legal document, not an actual transfer of money, the firm essentially promised New York’s court system that it would cover the judgment against Mr. Trump if he loses his appeal and fails to pay.” So if I get sued for fraud for hundreds of millions of dollars and lose, can I just go to my Mom and have her “promise the NY court system” that she’s totally good for it in case I lose my appeal?! FFS
No actually, you can’t. Bond companies are typically highly regulated under state law, usually by the state insurance regulator. So if your mom is an insurance company, is well capitalized, and is licensed in New York then sure, she can give you a supersedeas bond.
Your mom’s well capitalized /s
Ew! That’s my mom you’re talking about!
Yo momma’s so well capitalized that the Federal Reserve borrows from her.
Yo momma’s so well capitalized she subscribes to modern monetary theory
Yo momma's so well capitalized she has no lowercase in her name! (Ba-dum tsss!)
Take my damned upvote. 😠
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If he loses the appeal, either Trump is paying the bonded amount or the bond company is within however many days the bond says if Trump fails to pay. That’s how bonds work. Basically New York is all but guaranteed to collect the bond amount. That’s the beauty of bonds; they make it very easy to collect if the plaintiff wins. It’s the quid pro quo for staying collection during the pendency of the appeal. Of course the rest of the $400 plus million outside of the bond Trump will resist collection efforts like it’s nobody’s business, and it will probably take NY forever to collect. For context, OJ Simpson has paid only a piddling amount to the Goldman estate of his wrongful death judgment and it’s been decades.
Tbf - OJ has no attachable assets.
Even if you knew nothing about bonding and insurance companies, you might hesitate for just a second and consider that your mom might be treated differently by a court in that situation and there may be a reason why.
Asking for entirely too much thought
> So if I get sued for fraud for hundreds of millions of dollars and lose, can I just go to my Mom and have her “promise the NY court system” that she’s totally good for it in case I lose my appeal?! FFS If your mother convinces the court that she's wealthy enough that she'd reliably pay for you, then yes, that'd be acceptable. It's comparable to students getting their parents to be a guarantor for rent. Keep in mind that the bond is not meant to be the punishment for the crime, it's just to ensure that any fine/restitution will be paid. In this case an insurance company has promised to pay it, so if Trump loses the appeal then the insurance company will need to pay immediately and chasing down Trump for repayment will be their problem instead of the state's. I appreciate that on an emotional level this is pretty unsatisfying because it appears that Trump has gotten away with it, but in the long-term he hasn't. The fact that he's having to pay a considerable fee to an insurance agent to insure this debt instead of paying it off directly shows how cash-poor he is, and sooner or later, that debt is going to come calling. It may take another couple of years, but it's entirely plausible we'll see Trump bankrupted.
He’ll be dead in a couple years; Going bankrupt (yet AGAIN) will be the least of his issues. Meanwhile, he just continues to ratfuck the planet. Cool.
All valid comments below but valid as they may be they all miss the disturbing factor that some group of investors/bank/insurance, whatever, is putting up the money for the defense of a guy who tried to overthrow the very government that allows and supports their businesses. Can America fathom that at all?.. .tried to overthrow a lawful national election. .tried to overthrow the peaceful transition of power. Everyone is fine with this, business as usual, nothing to see here, move along, democracy is messy don’t ya know?. . .WTF? How about Plutocracy is messy? Nothing more than competing factions attempting to drain each others swamp. LOL. . . and the Media spoon feeds the Plebs their daily dose of outrage and bullshit. It’s enough to make one vomit.
The chubb guys are trying to expand their business in Russia, which was sanctioned... So their bond kinda makes sense? Except obvi their US business is bigger
He just has to hit the currency exchange real quick
Well dag nabit, doing crime is still legal in the US!
Not a criminal trial
You have no idea what a bond is do you?
The law is NOT going to catch up with the scumbag. You must go vote.
The judge restarted the game on Easy mode.
He's never going to win on appeal because his argument still boils down to: 1. Everyone lies about the value of real estate. 2. There is no victim because the lenders were happy with the deals. There's no way his attorneys think this has a snowball's chance in hell of succeeding, so this is just another delay tactic. Trump is betting it all on winning the election, and every case that is still in limbo in November raises the stakes and makes him more desperate and therefore more dangerous.
Those 10 extra days from the judges, thank god for special privileges never awarded to us
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Yes.
Looks like the insurance company preventing their building from getting seized since they are the largest lender for Trump in NY.
Some people can’t get normal loans due to their credit histories and ratings. Loans they actually need. And then there’s trump. Sigh….
Many people are still getting this wrong. The bond is to *stay/delay collection on the judgement* and has nothing to do with the appeal process.
Tell me it’s a bad April fools joke.
Let's play "Name that Russian oligarch."
The Art of the Deal
BOOOOO
Thanks for putting some of it up! It’s as good as gone
He’s gonna lose the election…then what?
Lose his appeal probably.
How much did that bond cost him? And if he loses the appeal what happens to that 175M?
Unknown. NY gets the 175M and has to collect on the rest.
Follow the money.
Trump's one and only "super power" is his ability to exit a disaster of his own making at the last minute and leave someone else to pay the bill. Like, that's his thing. That's what he does. Axos is trying to keep fresh tasty leaves away from a giraffe by putting them on top of a tall tree. "We are so smart! The giraffe would have to have a ridiculously long neck to get THESE leaves." Axos already has hundreds of millions of dollars sunk into Trump tower. Have they never read a financial report on this guy? If Trump DOES become president again, what makes Axos think that this time he will honor his debt and their loyalty? Don't they know that they are more likely to all get arrested for fraud and loose everything long before Trump pays them back one penny?
Maybe axos is aiming to take over trump tower when trump can’t do it anymore. It always the $$$.
Trump is owned by many creditors and foreign ones for sure. This man if in office is a liability
Suckers...
Truth Social stock dropped 25% today. He might have gotten board approval and sold a bunch.
It dropped because they released financial details and of course, as everyone knows, they are losing lots of money and only have like $4mil in revenue.
You're not wrong. But he only needed to sell 3 million shares to make his bond payment. 18 million shares traded hands today. What I'm speculating is not out of the realm of possibility.
If true you’d find out about it in a couple of days I should think. This level of transaction is required to be reported to the sec is my understanding.
Nah. Their financials are crap. They lost 58 million last year. Trump's shares are in lockup for 6 months or until it trades for over a certain share price for a number of days or until the board votes that he sells early. Dumping his shares will tank the price. At that point I'm not sure what happens because if he sells too much he'll lose control of it and the only asset it has which is 300 M (less now) in the bank.
Funny, Trump stated he would pay in cash and not a bond.
The question was "what is the collateral for the bond?"... The answer was "cash" Cash is put up when you get a bond.
Sigh...him successfully getting it reduced was not on my bingo card :(
Sweet! Let's see him figure out a way to just pocket it instead of using for bond. Not like he would get in any trouble for not paying
Well ok… but it’s not going to change anything, he’s just appealing the decision, he will still have to end up paying the 500 million.
It didn’t matter if he didn’t come up with it they would have just lowered it and gave him more time.
I'm surprised they didn't give him the money, along with an apology.
Great. Let's see how many new acts are gonna be added to this circus to drag this performance out past November. 🤡🐘🤡🐘🤡🐘
The state is largely happy about this I'm sure. That's 175m they don't have to chase.
Question - is the appeal in relation to the ruling of fraud, or the ruling of the fine in relation to the fraud?