An appeals court reduced Trump’s bond by more than 60% after his attorneys claimed it was a “practical impossibility” to pay the full amount. Their failure to disclose a proposal from a billionaire financier may have violated ethics rules.
Thats not how loans necessarily work though. If I go to a bank and ask for $100m, but they see I already owe $350m to other lenders, they’ll say no, because they know they arent getting paid back until after the other 3. So if they think trump has $450m in assets, just give him whole amount, and if they don’t think he has that much, any money theyre giving him is just being thrown away.
This is a guy notorious for lying about his assets and not paying debts. Even giving him $125m is a bad idea, but the odds of getting paid back get even worse if you arent first in line.
That absolutely IS how it works and it has been done many times before, how the fuck is this upvoted so much? He can syndicate the bond.
This is Ben Meiselas, who is a Kaepernick Partner, Geragos Global Partner, Aliu & Co. Partner, USC Law Lecturer:
https://youtu.be/BiJRKrhp7B8?t=682
In fact, New York attorney general, Letitia James submitted what you and I predicted she would do this week after Donald Trump filed that brief last week saying it was impossible to be able to post a bond and that this is so unprecedented. New York attorney general, Letitia James filed a surreply
Starting point is 00:13:40 which was accepted by the appellate division and she’s showed numerous companies that are real companies with real assets in cases that have posted bonds the same size or slightly less or some that were larger. She talked about in her brief how, you know, one of the things you can do, you don’t have to go to one surety, you can go to a syndicate of sureties who come together so that the risk is minimized and you have a tower of sureties. And she also said Donald Trump’s brief provided not a scintilla of evidence of the steps he even went through in order to secure a surety bond. All Donald Trump’s brief did was his lawyer said he just doesn’t have the cash or the means to do it.
Judge Angoron issued an enhanced monitoring order giving the monitor, who is a former federal judge, Barbara Jones, enhanced superpowers over the corporation, over Donald Trump’s business affairs, including the ability to both monitor all compliance and financial reporting and interactions with counterparties, interactions with bonding companies, insurity companies, that’s already in place. And that has not been stayed by this order, meaning that Trump is gonna have to go through the monitor and report to the monitor about his interactions with bonding companies in order to raise the $175 million. But with Donald Trump bragging that he has $500 million cash in the bank, combined with the other assets we know he has in real estate and the ability to either get a irrevocable letter of credit from a bank ability to either get a irrevocable letter of credit from a bank** or to syndicate the bond beyond just one bonding company, use two or three surety companies, each taking, let’s say, a $50 or $75 million piece to total up to $175 million. **
YES he absolutely can by syndicating the bond. Letitia James said he could:
This is Ben Meiselas, who is a Kaepernick Partner, Geragos Global Partner, Aliu & Co. Partner, USC Law Lecturer:
https://youtu.be/BiJRKrhp7B8?t=682
In fact, New York attorney general, Letitia James submitted what you and I predicted she would do this week after Donald Trump filed that brief last week saying it was impossible to be able to post a bond and that this is so unprecedented. New York attorney general, Letitia James filed a surreply
Starting point is 00:13:40 which was accepted by the appellate division and she’s showed numerous companies that are real companies with real assets in cases that have posted bonds the same size or slightly less or some that were larger. She talked about in her brief how, you know, one of the things you can do, you don’t have to go to one surety, you can go to a syndicate of sureties who come together so that the risk is minimized and you have a tower of sureties. And she also said Donald Trump’s brief provided not a scintilla of evidence of the steps he even went through in order to secure a surety bond. All Donald Trump’s brief did was his lawyer said he just doesn’t have the cash or the means to do it.
Judge Angoron issued an enhanced monitoring order giving the monitor, who is a former federal judge, Barbara Jones, enhanced superpowers over the corporation, over Donald Trump’s business affairs, including the ability to both monitor all compliance and financial reporting and interactions with counterparties, interactions with bonding companies, insurity companies, that’s already in place. And that has not been stayed by this order, meaning that Trump is gonna have to go through the monitor and report to the monitor about his interactions with bonding companies in order to raise the $175 million. But with Donald Trump bragging that he has $500 million cash in the bank, combined with the other assets we know he has in real estate and the ability to either get a irrevocable letter of credit from a bank ability to either get a irrevocable letter of credit from a bank** or to syndicate the bond beyond just one bonding company, use two or three surety companies, each taking, let’s say, a $50 or $75 million piece to total up to $175 million. **
Another unexplored angle would be getting multiple, smaller bonds.
Oh, nobody will loan you $464 million? How about finding 4 lenders at $116 million? Can you do that?
Thats not how loans necessarily work though. If I go to a bank and ask for $100m, but they see I already owe $350m to other lenders, they’ll say no, because they know they arent getting paid back until after the other 3. So if they think trump has $450m in assets, just give him whole amount, and if they don’t think he has that much, any money theyre giving him is just being thrown away.
This is a guy notorious for lying about his assets and not paying debts. Even giving him $125m is a bad idea, but the odds of getting paid back get even worse if you arent first in line.
That absolutely IS how it works and it has been done many times before, how the fuck is this upvoted so much? He can syndicate the bond.
This is Ben Meiselas, who is a Kaepernick Partner, Geragos Global Partner, Aliu & Co. Partner, USC Law Lecturer: https://youtu.be/BiJRKrhp7B8?t=682
This is Michael Popok, who is a NY trial lawyer/strategist talking about how it can be broken up https://youtu.be/N8VnxKT6ezA?feature=shared&t=372
YES he absolutely can by syndicating the bond. Letitia James said he could:
This is Ben Meiselas, who is a Kaepernick Partner, Geragos Global Partner, Aliu & Co. Partner, USC Law Lecturer: https://youtu.be/BiJRKrhp7B8?t=682
This is Michael Popok, who is a NY trial lawyer/strategist talking about how it can be broken up https://youtu.be/N8VnxKT6ezA?feature=shared&t=372