Tonight, the news is that Donald J. Trump emptied his Charles Schwab account as collateral to secure a bond from Chubb Insurance in the E. Jean Carroll conviction.
However, in the New York State fraud case, he cannot secure a bond for nearly $500 million. The cash is due Monday, and after seeking bonds from thirty different sources, no one is willing to post bond for Trump. Why would the bond companies not take real estate as collateral? First, the real estate may be encumbered. Second, it may be overvalued, and determining the correct value is too hard.
The State of New York, under Letitia James and the Court, does not want the real estate paper either. They want the money for New Yorkers who were defrauded by Trump.
Think about it. The bond is $500 million. Trump's real estate may not be worth that amount, which means he is broke except for his president's pension and Social Security. I am confident he and his lawyers will weasel the best they can, except lawyers want to be paid, too.
So, the battle cry is, "Show me the money!"
Of course, Donald Trump has a new source of revenue: the Grand Old Party, which he controls. He had better be careful because that is another area of regulation.
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