I realllllly want to know which institutions are denying Trump bond. It's boycottin' time.
(www.thegatewaypundit.com)
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Another possibility:
NY is failing. This might be an easy to get rid of a future problem asset who's value is declining. Trump will win on appeal, and he can use the refunded money to buy a new property in a better location. Think bigger people!!
Another thing to think about is that NY probably would have to think of something to raise money to pay back the fine once it is appealed. Likely the state would've squandered it all and then some.
Probably have to cut back on spending on woke programs or sell off some of the government property to willing MAGA-men who is willing to buy on the cheap, expanding our resources at the expense of the tyrants.
Before people say taxes, we Patriots of Upstate NY will fight tooth and nail to make sure no more taxes are raised. Instead, we will raise hell if they do decide to raise taxes.
This assumes Trump would make a move to sell NY Assets if he didn't have this judgement?
He's given no indication of wanting to sell anything before this week. Selling a NYC skycraper is not a deal with a quick turnaround.
Well, he did move his residence out of NY. Also, he's no dummy. He can see how NY is deteriorating. Hell, everyone can see it. This saves him from loss of business, bankruptcy, cost of a sale. This is a gift to him!
I'm not sure I follow you. He still has to come up with the money by Monday, unless a stay is granted.
The way I understand this is that IF he doesn't come up with the money, Letitia will seize and hold in escrow, the title to his property until after the appeal. If Trump wins the appeal, she has to return the title. No one expects her to abide by the rules. She will seize the title and either sell the property or house illegals in it thereby destroying the property. Trump will be entitled to monetary damages and will accept the money and run out of town with a boatload of money.
The judgment is a money judgement. You can't turn over property to satisfy the judgement.
Trump can get a "stay of the judgment" by putting up the money. Or getting a surety bond company to put up the money. The bond is a private contract and they can choose to use property as collateral, but they put up real money.
If I had a one of kind guitar worth $50,000 guitar and I signed Babe Ruth baseball card that I had to sell to satisfy my bond while I appealed and I won my appeal, I would get my money back, I wouldn't get my guitar or my autograph back.
So this won't happen. NY would have to return money.
If Trump does NOT get a stay, NY can seize assets to to satisfy the judgement. Those assets are not Trump's any longer and can be liquidated. If Trump won his appeal, he can't go to the new owners of the assets and demand them back, he gets money back from NYS.
Yes if he wins, he gets a boatload back, but right now he has to put up that boatload by Monday and his deal for someone else to put it up fell through. Not a silver lining type of deal.
You are correct for "items" but when it comes to PROPERTY (land/buildings), I'm not sure it's the same. I could be wrong, but the few property sales/purchases I've done don't work the same as "items"/assets.
Please appreciate, I'm NOT saying that Trump WANTS this to happen, but I AM saying he will probably turn this into his favor SHOULD this happen. If this were me, I'd take ANY opportunity to get the hell out of NY that I could.
My reading of this is you can defintely seize property and have the sheriff sell it at auction
https://ww2.nycourts.gov/courts/6jd/tompkins/ithaca/webpageJudgement.shtml
https://www.thelangelfirm.com/debt-collection-defense-blog/2015/december/sale-of-real-property-through-sheriff-levy-new-y/
He may "lose" everything, but I'll bet he's shooting for something better.
Let's hope, but at some point asset liquidation becomes very real, and a life's work get undone. I'm not dooming, promise. I'm pissed.
Life's work will be saving the greatest country on earth which translates to saving the world. Can't get any better than that.
That’s… man I was probably being a hair short-sighted.
It's fucking insurmountable.
Proves 8A.
8th Amendment, We The People
I'm all for boycotting but I don't do a lot of business with surety companies. In fact not even sure what they are.
I don't think it is a problem of denying bond, but institutions are unable to grant bond due to the amount of money required.
Bingo! No one’s got it.
I believe this is yet another trap. I believe he has more than enough equity in his many properties to borrow money for the bond. If I had to make a guess...I'd say this is part of a plan to show how corrupt NYC and put doubt is the minds of other business people from investing in the Big Apple and any other municipality that has a blue tinge to it.
Alan Garten is the General Counsel with the Trump Organization. He said only one surety would consider real estate as collateral, Chubb who did his previous bond. And they were negotiating with Chubb and then Chubb said they would not take real estate as collateral.
https://pbs.twimg.com/media/GI-CP6_WMAAjiR0?format=png&name=medium
I wonder what happened here.
In the absence of Trump putting up hard assets. He will need to borrow against his properties or sell against his properties.
A half a billion dollar loan is not easy for anyone to swing. If he was borrowing the whole amount, i would guess the interest would be like 25 million a year. The bond was quoted at 18 million a year.
Many of them are named in Trump's filing
Unfortunately the fing is like 4000 pages and I haven't been able to download it
Here is some of them
https://pbs.twimg.com/media/GI-BlTZWYAAItmG?format=png&name=900x900
WeWell, I guess when Trump said he’d “like to lose everything to see who his true friends and enemies are” may in fact come true.
Waiting for the worm to turn on this story.