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The other bond companies will not “accept hard assets such as real estate as collateral,” but “will only accept cash or cash equivalents (such as marketable securities),” the filing said.
Perfection.
They won’t let him pay with play money anymore.
AKA “we have no idea how much your property is actually worth because you’ve been lying about it for years, so we want things that have a value set by someone other than you.”
I’m pretty sure most of his properties are extremely leveraged.
This is what I’m expecting, that or appraisals will end up finding out many of these places are worth way less or need condemning/major work to be sellable.
It’s this.
Anyone would be stoked to lend $500m if he could give them, say, $1b in clear property titles.
He can’t because other banks already have their mortgage registered on the titles, and those banks have obviously reached the limit of what they will offer.
Oh no, he will have to sell the things he inflatated the price for illegally at actual market price.
Below, hopefully.
Trump and his company need to post a bond for the full amount by next week in order to stop New York Attorney General Letitia James from being able to collect while he appeals.
He doesn’t have the cash to pay, so when NY collects, they can start forcing sales on his property.
If he gets the bond, then it just sits there till after appeals. Which would prevent him from selling property he put up for bond, but he’d still own them.
If he misses that bond, the rest of the dominoes will fall like a house of cards. Checkmate
Maybe we should start an organization to buy his buildings as a Cooperative?
Back in the late '80s, Spy magazine had a plan to collect donations to purchase a condo in one of Trump’s buildings - which they were then going to donate to the outgoing president of the Industrial Workers of the World to retire in.
Thanks for the summary, Zap!
Side note, i recently found out the guy Bill is playing is Matthew Perry’s step dad.
The aggression in Liotta’s laugher makes it the most appropriate gif.
Lock him up
As much as I want Trump to be locked up, it would have to be for one of his multiple criminal indictments. Locking people up for not being able to pay fines is basically recreating debtors prisons and is hugely unfair to poor people.
That’s already the case for everyone else, let’s make it apply to the biggest piece of garbage in the world.
Sort of. The Supreme Court said you cannot be jailed for not being able to pay a fine, only for willingly not paying a fine that you can afford to pay. However, it is up to a judge’s discretion as to whether a person can afford a fine or not.
In this case, Trump has a lot of properties he can sell to pay a fine.
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lol, what a loser
I’m late, but better late than never!
I wasn’t sure it would happen, but I hoped.
Surprise me.
“billionaire” lol - a lot is already happening
“Your honour my client only cosplays as a billionaire”
“No rational person would believe my client is an actual billionaire. Ask Fox!”
Be surprised. James now has the legal right to start seizing his assets in New York.
Hopefully we’ll see this by autumn.
I literally LOL’d at that one. smh.
If we’re lucky, it will sell out-of-state fireworks this summer.
sooner better. start selling his assets on the auction block. we’ll never recoup all the harm he has done, but we can do something.
Can’t he sell platinum Trump steaks?
Russia won’t give him platinum, maybe depleted uranium or plutonium though.
Polonium might be more appropriate in this case, however.
Nothing is ever black and white. This is just a stalling tactic or another attempt to reduce the penalty or mitigate the situation until he’s past voting time.
If he wins he’ll just wheel and deal to get others to pay for favors. He’s not banking on losing.
Yeah, I don’t want to be defeatist but he has weaseled out of every single consequence so far.
I’ll believe the consequences when they actually happen. And when they do… Oh boy… I might soil my pants!
Consequences are for the poor and unpopular. The legal system is just there to protect the wealthy owners, it’s not there to deliver justice.
PSA: it’s not over yet, they have until 25th of March. Don’t discard a boatload of rubles showing up on March 24th.
I was curious, so I did the (lazy) math.
1 USD is going for about 90 Rubles currently.
Assuming a Ruble is roughly the size of a USD…
A $1M USD stack made of 100 x $10,000, or 10 x 10 stacks measures 12" across x 13" front to back x approx. 5" tall. That is 780 cubic feet or a bit more than 22 cubic meters.
At $464 USD, assuming 90 Ruples per USD and that Rubles are roughly the same dimension as a USD (464 x 90 x 780 or 22) we get 32,572,800 cubic feet or 918,720 cubic meters.
Cargo ship size is usually measured in twenty-foot equivalent units (TEUs), based on the volume of a 20-foot-long (6.1 m) intermodal container. The internal volume of one of these containers is 1,172 cubic feet or 33.2 cubic meters.
Assuming a standard container size, it would take 28,710 TEUs to move the entire Trump bond via ship. The maximum TEU of the largest container ship listed on Wikipedia is 24,232, leaving Trump 4478 TEUs, 5,248,216 cubic feet or 143,296 cubic meters, and $72M short.
TL;DR: Even with the biggest boatload of Rubles, Trump would still come up short on the bond.
12" across x 13" front to back x approx. 5" tall. That is 780 cubic feet or a bit more than 22 cubic meters.
I’m not sure I agree with you a hundred percent on your police work, there, Lou.
Bake 'em away toys! Amazing what misunderstanding ’ vs " can do.
That or Saudi Riyal. People are going to vote for this guy?
Yeah for real. Putin may be a dick, but unlike Trump he is way ahead in the dictator plays and is estimated to be sitting at well over 100 billion USD. 500 million to bail out the US president who would gladly take the U.S. out of NATO for him seems absolutely reasonable.
Oh that’s my birthday. What a good present to have if Letitia James starts selling his shit then.
/RemindMe! In 7 days to wish stinerman a happy birthday.
Like the Alexander Navalny tower, formerly named Trump tower.
What’s he need a bond for? Isn’t he a billionaire?
It says in the article.
Either he starts paying now, or if he wants to pay after the appeal then he has to have a bond.
Yeah, I was just being rhetorical.
He’s a billionaire the same way I’m a $10k-naire if I get a $10k cash advance from my credit card and put it in the bank.
Shout out to all my 1klionaires
Thousandsaire.
Look at Mr fat cat over here having multiple 1ks.
Look at Mr fat cat over here having multiple 1ks.
I don’t have a cat. But rest assured that if I did it would be pampered and, potentially, overfed. So we’ll call that a draw.
… but what if I convince you to put your $10k advance into my bank but promise to pay it back. Would I be a $10k-naire?
