Hutch Starskey
Diamond Member
- Mar 24, 2015
- 36,038
- 9,459
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Trump lives off of loans. Refinanced periodically as the property values rise. Either naturally or artificially.
Trump can't secure the $454 million bond
- Thread starter TroglocratsRdumb
- Start date
They don't have to liquidate the assets, just seize them.
Dragonlady
Designing Woman
Well, aside from the fact that he owes money on the properties, none of them are making money. His three east coast golf clubs were profitable during his administration, but the rest of them have all lost money throughout
What questions would those be???? Other than "Why can't I be a dictator".
Dragonlady
Designing Woman
You have a vivid imagination. The entire city is cheering to see the biggest crook in the city finally get his come uppance.
Protestors aren't turning out in New York to say Trump is being "persecuted". And nobody in the business community is giving interviews saying they're leaving New York because Trump has finally been called to accounts for a life of criminal fraud.
You Cult members are truly deranged if you think that honest decent business people are anything but happy to see him fall.
para bellum
Diamond Member
Well they have effectively been frozen since last year.
Let's say she "seizes" 40 Wall. She's been threatening that. The judgement creates a lien, so she has to foreclose. There are all kinds of complexities involved with that, but let's set them aside.
Does NY want to be in the landlord business? How do you value the business? Who values the business? Do the leases go with the property? What if the tenants want to move out? What about the ones who have invested in renovations?
Eventually the State will have to sell the property if it wants to get paid. How long do they want to be property managers- be on the hook for insurance, maintenance, collecting rents, dealing with the tenants, etc?
What if the property loses value between the time they foreclose and ultimately sell? What about the income they earn in the interim? Does that count against the judgement? What if it's an operating loss?
I could go on and on, lol. It's not a simple thing, I don't see the State wanting to take on the risks...
MagicMike
Platinum Member
How so?
EvilCat Breath
Diamond Member
- Sep 23, 2016
- 94,950
- 70,975
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Ohh I had no idea you were in New York hearing all that cheering. Because if you weren't that means you are nothing but an under the floorboards liar.
BluesLegend
Diamond Member
LOL all the corrupt Dem schemes eventually blow up in their stupid faces the morons.
Godboy
Diamond Member
- Dec 29, 2008
- 41,996
- 24,772
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He owns several buildings in NY. One of them alone is worth $500 million. The others are worth a lot too.Not sure there’s enough there to cover it.
What Real Estate Does Trump Own in NYC Anyway?
Letitia James says she will seize Trump’s properties if he doesn’t pay his civil fraud penalty. The problem is, he doesn’t own that many.www.curbed.com
Nope...
Investors will say our money is safer in this state than in places where Trump shady business practices are let go...
Think about it this way... I have a friend who got an opportunity to invest in Mumbai, India... He put a small investment with people who are wealthy people, everything looked good and contracts were signed...
Then nothing, he went looking and told your money is gone and because of lack of enforcement of the law you will take years to go through the courts to get your money back. the Government rarely goes after the rich and powerful there...
New York shows the opposite with this judgement... They are saying to small and large operators that there are laws and everyone must obey them no matter how rich and powerful you are...
Trump broke the law and was brought to justice, it is as simple as that... You can try and say that he was targeted but he made himself a target by going on TV and saying he loved not paying taxes... He was a criminal who was living under the threshold but was under investigation for multiple years if not decades..
Were Trump really screwed up was throwing Micheal Cohen under the bus, that was incredibly stupid when running a psuedo criminal operation... Cohen went to congress and sung like a canary...
This wouldn't have happened if he didn't run for President, but when you run for President expect this. This isn't deep state or any such thing, this is your washing getting aired and you can see how clean it is. There was investigations and this came up.
Contrast this to Biden, There was accusations again (there always is) but under investigation it yielded less than nothing. It turns out Republicans doubled down on a source which was feeding them misinformation from SBG (Russia). Thats real bad for Republicans, it is highly embarrassing if there was only one Media but Right wing media will bury this..
Setting a New and abominable standard never used in the
Donald Trump can't secure $454 million bond in the New York fraud case
The former president's lawyers wrote in a court filing that 'obtaining an appeal bond in the full amount' of the judgment 'is not possible under the circumstances presented.'www.dailymail.co.uk
Donald Trump's lawyers told a New York appellate court Monday that it's impossible for him to post a bond covering the full amount of his $454 million civil fraud judgment while he appeals.
The former president's lawyers wrote in a court filing that 'obtaining an appeal bond in the full amount' of the judgment 'is not possible under the circumstances presented.'
They revealed they had spoken to 30 underwriters to back the bond, which is due next week. Their efforts included 'countless hours of negotiating with one of the biggest insurance companies in the world'.
New York Attorney General Letitia James, a Democrat, has said that she will seek to seize some of Trump's assets if he´s unable to pay the judgment.
The development comes days after Trump was able to post a $91.6 million bond in the E. Jean Carroll defamation following a jury award he is also appealing.
Comment:
The Democrats are worse than banana republic thugs.
They can't win on the issues, so they are abusing the judicial system to interfere with the election.
History will not be kind to these Banana Republic Democrats.
Empire State.Making it Personal and next thing to Judge Roy
Bean's infamous " West of the Pecos " bragging rights.
Only thing missing is that hellish horse drawn hearse
used whenever Bean and his drunken band of brutish jurors
made their verdict.Almost always in favor of the worse
penalty in law.Loss of life.
Would it be fair to say that Mr.Trump also owns the hearts and Minds
of Many American citizens.I think so.
Someone should ask Butthead Potus { Biden } bout it.
MagicMike
Platinum Member
Then why are MAGAts so angry and hysterical lately? Why can't you all just relax in the confidence that it's all going to even out in the end?
You are interfering with those not wanting to be bothered from you. I think many people in all ways of thinking believe this. In my life the pursuit of happiness has many interruptions. I like privacy and peace and quiet cand seem to not achieve it with responsibilities included and outside interference from authoritarians and those who abuse in any way.
Zincwarrior
Diamond Member
We'll see presently if your theory is accurate.
Just on your first one...
Trump acquired a chunk of 1290 Avenue of the Americas almost by accident, when Hong Kong investors who’d bailed him out of a residential project near Lincoln Center swapped it for the midtown office building instead — leaving Trump with a 30 percent stake in the office building that is locked up until 2044 — which means he can’t sell it until then.
The government could lien against (i.e. Trump gets a loan against its value and income from the building goes against repayments) the building. Trump would be in a very poor place to negotiate rates, he has a history of lying to lending institutions and over valuing properties...
I say James will go for Trump's 100% owned assets first, ideally debt free and in NY... These could be Bedminister, Golf Courses, Mar a largo (is also a possibility)... James will cherry pick what is easiest to pick off the bones and get the NY State their money...
Let's be clear, Trump was clearly known that this kind of judgement was coming down the line for a few years.. Well that is his lawyers told him the truth. He didn't prepare for this when he had options... He could leveraged properties last Sept when he effectively lost this case...
He acted like a idiot in business sense. When he should have been liquidating assets and having money available, finding top class lawyer and listening to them, he hired bargain basement lawyers and acted like a jackass in court. His lawyers were so poor that they gave Trump very few places to appeal.
Trump could have got away with this if he was a bit smarter... He first shouldn't have thrown Cohen under the bus, that was the first problem. Get good lawyers and pay them... This fine could have been less than $100m if he knew how to plea this out.. Trump did the exact opposite and that is when the big guns are brought out... Trump is now backed into a corner and himself and his lawyers got them boxed in with little legal challenges on appeal... Example: the low valuation on Mara largo wasn't challenged in court in a timely manner (i.e. during the initial case(I believe)). This means cannot be brought up on appeal.
Because Trump didn't prepare for this judgement. James is going to chery pick his properties and have a fire sale. There is a lot of real estate guys looking at bargains and James will be selling at knock down prices to get NY State their money. That is how it works and it is no different for Trump.
Godboy
Diamond Member
- Dec 29, 2008
- 41,996
- 24,772
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Maybe, or maybe you have a lot of wishful thinking going on. Trump still has a few legal avenues before they take his stuff.
Regardless, you shouldnt be cheering this on. It will justify all retaliation from the other side when its their turn. Nothing will be off the table and nothing will be too ethically, morally or legally reprehensible to do to the other side. The gloves are going to come off.
dudmuck
Diamond Member
That is only if Putin doesn't own 75% of it.
SeaMajor7
Diamond Member
This is all clearly a GROSS violation of the 8th Amendment.
I know that Constitution means nothing to the salivating Stalinist piglets, but thems the facts.
SCOTUS must SMASH the ridiculous lawfare.
I know that Constitution means nothing to the salivating Stalinist piglets, but thems the facts.
SCOTUS must SMASH the ridiculous lawfare.
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