• Moobythegoldensock@lemm.ee
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    8 months ago

    “Donald J. Trump offered a New York appeals court on Wednesday a bond of only $100 million to pause the more than $450 million judgment he faces in his civil fraud case, saying that he might need to sell some of his properties unless he gets relief.”

    He’s a real estate investor. Having most of his money in real estate is not the same as actually being broke. That’s like a rich college student complaining they’re “broke” when they’re out of cash in their wallet, but they still have a $1,000,000 trust fund they conveniently forgot to tell you about.

    Trump can still walk into any bank, take out a loan against his properties, and have all that cash on hand again. The courts need to force him to actually sell his assets. If he refuses, put liens on his properties until he loses them all. Then maybe he’ll know what broke is.

    • driving_crooner@lemmy.eco.br
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      8 months ago

      American banks stopped loaning to Trump years ago because he didn’t paid his loans on time and without a fight. This is why he has to go to Russia and to the Deutsche bank for money.

      • Daft_ish@lemmy.world
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        8 months ago

        He might be able to get a loan from his wealthy friends these days, though. He controls the GOP and made himself too big to fail. If he flops another election though he might see things start to come unglued.

    • LordOfTheChia@lemmy.world
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      8 months ago

      Your quote above is the tl;dr of the article.

      Trump only offered 100m on the 450 million due on the NY fraud case, the court rejected the offer (yesterday Feb 28), ergo Trump is broke.

      - Article Author

      No new information past that.

      It will be interesting to see what NY does next.

      March 25th is the next date of interest:

      https://www.nytimes.com/2024/02/28/nyregion/trump-bond-civil-fraud.html

      The attorney general, Letitia James, is expected to provide Mr. Trump a 30-day grace period, which will expire on March 25, at which point she could move swiftly to seize Mr. Trump’s bank accounts and perhaps take control of his New York properties.

    • neatchee@lemmy.world
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      8 months ago

      EDIT: Looks like this judgement was lifted yesterday. TIL

      ~~No, he can’t walk into any bank, because he is literally barred from taking any loans from banks in New York. That was part of a previous judgement. And since many of the biggest American financial institutions operate out of NYC, he’s pretty fucked in that regard.

      He would have to rely on wealthy friends (who are extremely wary of his situation) or foreign banks that will offer him incredibly predatory conditions since they know he has no choice but to accept~~

      • KevonLooney@lemm.ee
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        8 months ago

        The man’s CFO is in jail for fraud. I believe the NY AG referred evidence of Bank Fraud to the Justice Department. That’s a federal crime.

      • One_Honest_Dude@lemmy.world
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        8 months ago

        When the appeals court told him he had to post full bond they put a stay on the judgements that barred him from getting loans in NY and the one that prevents him from running a business. So until his appeal process is complete he can still get loans from banks in NY. And everyone with an interest in these crooked feelings, likely including NY banks, wants this overturned and will be willing to help him through that process.

    • TruthAintEasy@kbin.social
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      8 months ago

      Pretty sure many banks wont do buisiness with Trump regardless of collateral. When the guy is known for inflating his illiquid assets collateral becomes risky too. Trump is a bad bet