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Started By
Message
re: Breaking: Trump is unable to make $464 million bond in civil case
Posted on 3/18/24 at 1:32 pm to Mephistopheles
Posted on 3/18/24 at 1:32 pm to Mephistopheles
quote:
If the judge in the initial case could remove the right for the losing party to appeal their judgement with a contempt ruling, whoo-boy.
It happens. If you're going to appeal, either give an appeal bond or let the collection process procede.
0
Posted on 3/18/24 at 1:34 pm to themunch
quote:
Finding of fraud prevents this
There was no fraud
Judge ruled there was on summary judgment.
I am not defending the ruling (which is horseshite), but that will be a bar to bankruptcy.
Posted on 3/18/24 at 1:42 pm to SDVTiger
Yes , when Trump wins appeal he will get paid back the worth of what was seized plus 9%
Posted on 3/18/24 at 1:43 pm to udtiger
There actually was fraud.
But….
Every RE developer in NY has done it too.
He was only targeted because of who he is.
Leticia told us that herself.
But….
Every RE developer in NY has done it too.
He was only targeted because of who he is.
Leticia told us that herself.
Posted on 3/18/24 at 1:47 pm to Butterfinger1
quote:your link doesnt support this and the link inside the story you linked doesnt support this either
Trump gave in a separate civil fraud case in which he bragged about having $400 million
however trump did say this on the record one time
quote:
Even when banks required Trump to provide copies of his financial statements as part of a loan agreement, he testified that they really wanted to know if he had enough cash to cover the loan. Trump testified that he typically kept $300 million to $400 million in the bank, saying, “I’ve had a lot of cash for a long time.”
“They were not really documents that the banks paid much attention to,” Trump testified. “They looked at the deal. They looked at the asset. If it is real estate, they looked at the location.”
he did not say he has $300-400 million in the bank right now
Posted on 3/18/24 at 1:48 pm to roadGator
quote:
There actually was fraud.
But….
Every RE developer in NY has done it too.
He was only targeted because of who he is.
Leticia told us that herself.
Here is the main problem with this whole thing. The bank did their own appraisal of his property and loaned the money off of that appraisal. Trumps appraisal meant nothing therefore fraud did not happen.
Posted on 3/18/24 at 1:52 pm to Warboo
The appraisal was only part of the fibs.
It’s the most ridiculous one the judge mentioned though.
Another example was claiming a property was zoned for 10 houses when only approved for a lower number. Therefore overstating its value. Many silly things like that.
Nothing worth $500B
Not even close
They are trying to bankrupt him and weaken him and it is disgusting.
My main problem is that the state got this award and the public was not harmed in any fashion.
They went looking for a crime.
It’s the most ridiculous one the judge mentioned though.
Another example was claiming a property was zoned for 10 houses when only approved for a lower number. Therefore overstating its value. Many silly things like that.
Nothing worth $500B
Not even close
They are trying to bankrupt him and weaken him and it is disgusting.
My main problem is that the state got this award and the public was not harmed in any fashion.
They went looking for a crime.
Posted on 3/18/24 at 1:58 pm to BBONDS25
quote:Nah. Take Mackenzie Bezos as an example. She has tens of billions in AMZN stock - which is essentially as liquid as cash. It would take her approximately .05 seconds to raise $464 million.
You would be very wrong. 500 million in cash would likely be a breach of fiduciary duty of the trustee of the trust holding those assets.
Do you have some direct knowledge of Trump's trusts? Trusts can absolutely own cash and/or cash equivalents. And obviously many of them own large positions in hyper-liquid assets like large cap equities.
Trump claimed his net worth in 2015 was $10 Billion (hard to see how it could possibly be even arguably lower now than whatever it was then, but I'm just taking his word). I think it's ridiculous to argue that a 4.46% cash position is somehow a bridge to far. I would be surprised, if anything, that if people ever had LESS than that.
Posted on 3/18/24 at 1:59 pm to Datbawwwww
quote:
e could liquidate the half billion without notice, this would severely hurt the stock market as a whole.
What? You think a $500M trade will "severely hurt the stock market as a whole"?
Know how I know you're an ignorant idiot? Typical low-information voter.
Posted on 3/18/24 at 2:01 pm to Warboo
quote:Cash is earning 5%+ right now.
These mega rich people/families are rich because they let their money make them money. Sitting in a bank account drawing little to no income would be stupid. They all keep their money invested and making money. This also makes difficult for any of them to produce that much cash in a short period of time.
Andy many of them hold quite liquid assets like stocks.
Plus, the period of time hasn't been all that short. It was weeks ago that Trump claimed he had such liquidity to begin with.
Posted on 3/18/24 at 2:01 pm to roadGator
quote:
There actually was fraud.
The judge found on summary judgment there was fraud. There wasn’t any fraud. Even the bank that loaned him the money said that.
Posted on 3/18/24 at 2:02 pm to supatigah
quote:It's been confidently asserted elsewhere in this thread that the super rich DO NOT keep cash on hand.
he did not say he has $300-400 million in the bank right now
Posted on 3/18/24 at 2:04 pm to Big Scrub TX
quote:
I think it's ridiculous to argue that a 4.46% cash position is somehow a bridge to far.
I think a judgment in this amount is ridiculous, but you and the rest of the "above-the-fray" moderates would rather mock Trump's ability to come up with a liquid sum than question a ghetto DA and a partisan judge using a sham proceeding and damages amount to try and destroy a political enemy. It's absolute nonsense that this is even happening.
Posted on 3/18/24 at 2:04 pm to BBONDS25
There was. I provided another example.
It was silly fibs. Every developer does it. They aren’t facing this hit. That’s the worst part.
It was silly fibs. Every developer does it. They aren’t facing this hit. That’s the worst part.
Posted on 3/18/24 at 2:05 pm to Big Scrub TX
quote:
Nah. Take Mackenzie Bezos as an example. She has tens of billions in AMZN stock - which is essentially as liquid as cash. It would take her approximately .05 seconds to raise $464 million.
That is very different than having it sitting in cash. That aside, What do you think would happen to the value of Amazon stock and the market as a while if she sold off 500MM worth of shares in one day?
quote:
Do you have some direct knowledge of Trump's trusts?
Of course not. I am, however, very familiar with trust planning of ultra high net worth families.
quote:
Trusts can absolutely own cash and/or cash equivalents.
Nobody has said otherwise. But keeping $500 million likely falls outside of the prudent investor standard.
quote:
Trump claimed his net worth in 2015 was $10 Billion (hard to see how it could possibly be even arguably lower now than whatever it was then, but I'm just taking his word). I think it's ridiculous to argue that a 4.46% cash position is somehow a bridge to far. I would be surprised, if anything, that if people ever had LESS than that.
Well you would be surprised a lot, then.
Posted on 3/18/24 at 2:07 pm to Big Scrub TX
quote:
It's been confidently asserted elsewhere in this thread that the super rich DO NOT keep cash on hand.
No it hasnt. It has been said they won’t have 500MM in cash just sitting there.
Trump having 300-400 at any point in time is not the same thing. That money was being used for investment purposes, clearly. That is very normal.
This post was edited on 3/18/24 at 2:07 pm
Posted on 3/18/24 at 2:07 pm to Big Scrub TX
So you are saying that if an investor were to remove half a billion dollars in investments without warning, that wouldn't have the potential to cause a significant reaction by investors? Just the AI automated trading alone would have a significant reaction around that sector. It could absolutely initiate a sell off of that fund. So frick off with your insults loser
Posted on 3/18/24 at 2:08 pm to Big Scrub TX
quote:
Nah. Take Mackenzie Bezos as an example. She has tens of billions in AMZN stock - which is essentially as liquid as cash. It would take her approximately .05 seconds to raise $464 million.
That would be roughly 10% of today's trading volume so far. Probably not the best idea.
Posted on 3/18/24 at 2:13 pm to Northwestern tiger
quote:
Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.
Posted on 3/18/24 at 2:23 pm to Big Scrub TX
quote:
Cash is earning 5%+ right now.
Still stupid to have cash just bringing 5% when you can be getting much more.
Andy many of them hold quite liquid assets like stocks.
And many do not.
Plus, the period of time hasn't been all that short. It was weeks ago that Trump claimed he had such liquidity to begin with.
Weeks to raise a half a billion dollars is like saying it has only been years since the last century.
You are making yourself look stupid.
This post was edited on 3/18/24 at 2:25 pm
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