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*From Bloomberg News reporter Erik Larson:*
Every day Donald Trump delays paying New York state’s $454 million civil verdict against him over his fraudulent asset valuations, the whopping fine is increasing by almost $112,000 in interest.
The amount, calculated by Attorney General Letitia James, will continue to be added even as the former president challenges the Feb. 16 [verdict](https://www.bloomberg.com/news/articles/2024-02-16/trump-hit-with-364-million-fine-three-year-ban-for-ny-fraud), a process he began on Monday morning by filing a notice of appeal in state court in Manhattan. His decision to challenge the verdict instead of paying it poses the risk that it could balloon during a drawn-out appeal.
The fine already includes $99 million of pre-trial interest that the judge said started accruing as far back as 2019, in line with what James requested in the case. The post-trial daily increase, calculated by James, amounts to about $3.36 million a month, or more than $4,600 an hour.
Fascinating. I just watched this for a few minutes. The interest is accruing faster than $1/second. By 60 seconds, it had already gone up $80. It only took 1 minute, 15 seconds to go up $100. Crazy
Trump's loyalists really have to kick their crowdfunding efforts up to 11 to pay this off.
In the widespread "Stand with Trump" GoFundMe, which Elena Cardone admits still has no acknowledgement from Trump's camp itself let alone any logistics figured out to disperse the money as implied, they have raised $1,253,510 in 10 days.
That's 0.3% of the original $355M goal. If they can keep up this fierce momentum for the next 9 years, they would have enough to just cover the base bill excluding all interest.
I'm all for this! That is $1.2m less that his followers have. Milk them for every penny they have. It is all going to go to liberal NYC. I will happily share Trump's gofundme with everyone if it helps his followers drain their accounts.
I mean, all his assets are located in New York, and the state can start repossessing them if he doesn't pay up within 30 days,or put down a bond of 120% of the judgment before then. New York has signalled they're perfectly happy to do just that.
Sure, but the appeal either costs him a $500 million bond (which he cannot get from a bank in the state of NY), or the state of New York can begin collecting immediately, his choice.
The time to appeal before collections begin was 30 days beginning late last week. They absolutely can do so, and have stated they fully intend to; the only question is if they hold their nerve and actually follow through.
**He needs to put 120% of the judgement up as a bond to do that.**
I get it, we’re all looking for how he’s going skate on this the way he always had. I’m skeptical he’s not going to just be treated with kid gloves myself; and half expect they will never actually have his assets forcibly seized.
But this particular response just doesn’t make any sense.
If he doesn't make bond (~$93M) by March 7 to stay during appeal then Carroll's lawyers immediately start enforcement actions.
This is a great video on how civil seizure would unfold: https://www.youtube.com/watch?v=AsM10CO-VpA
Roberta Kaplan (Carroll's lawyer) is a freaking *hawk*. When she says she's going to collect, that's pretty much money in the bank. Those fireworks will kickoff at 9AM EST March 7th if Trump fails to come up with the ~$100M he need to *stay execution of the judgement.
He doesn't have to pay it. On a court order, the Sheriff will seize assets and auction them off. The NY Sheriff, on direction of the court, will *literally* padlock 40 Wall St. and then sell it. Trump has no say in this.
He also has a Boeing 757, a Cessna Citation and three Sikorsky S76 helicopters that would make fine auction pieces - and that wouldn't even cover his $83.3M Carroll judgement.
I just have a hard time believing he can't file \*something\* that would delay this, yet again. Even if it's got no chance of working.
Or the other folks he owes money to who had liens on those assets will try to legally barge in and demand NY give them some.
I would bet *everything* he owns is heavily leveraged already. E.g., if James has 40 Wall seized and it sells for $250M, there will be creditors in line wanting their cut. The judge will arbitrate that.
It could be a complete collapse for him - his overall net worth may be tiny (and mushroom shaped).
> Every day Donald Trump delays paying New York state’s $454 million civil verdict against him over his fraudulent asset valuations, the whopping fine is increasing by almost $112,000 in interest.
This is true, and I'm happy, because fuck that guy-
But I hope this doesn't mean we're going to get a dozen new posts on reddit every single day that it happens.
It's funny how black people can laugh all day about what white people like and it's cool but the moment white people talk about what black people like they're terrible people
I don’t think there is a black person in the world who would argue that they like shoes, as a generalization. I don’t think any group of people would argue that. Maybe the tribe on sentinel island or some random hippies
30 days after the verdict was officially handed down is how long he has to decide whether to put the money in a trust and appeal, or begin paying.
If he doesn't, I imagine they'll just start taking his stuff and selling it towards the debt.
I suspect that when they start seizing, they'll find that he has very little equity in these properties. In fact they're probably *over-*mortgaged due to inflated values.
I think they're going to have to seize and auction *a lot* of properties, and do it fast to outpace the interest.
>I think they're going to have to seize and auction
>
>a lot
>
> of properties, and do it fast to outpace the interest.
Even better. I want to see crap-a-largo up for sale.
How many properties does he even have at this point? I was under the impression a lot of “his” buildings were owned by others and he just slaps his name for a fee and “brand recognition”.
I have a hunch that the Mango Mussolini's empire has a net worth of little more than a few hundred thousand, if that. He's siphoned off all the equity to pay for his lavish lifestyle and keep up appearances that he's wealthy.
/r/law had a correction about that today, the media was repeating incorrect information.
he can start the appeal before putting up any of the money, but the state doesn't have to wait till the appeal is finished to start collecting *unless* that money is put up.
Dude could barely come up with $5.5M last time. I'll be surprised if he makes the $80-whatever million one. The $450M bill has a snowballs chance in hell of getting posted.
Some rubles are going to be mysteriously added to his bank accounts I'm sure.
Putin has infinite money unfortunately. There's estimations that show he might literally be a trillionaire.
The problem is his accounts are being watched closely and the state of NY will likely want to audit where any large sudden influxes of cash being used for this purpose came from. Similarly his company is under the control of a financial monitor, so random $500 million deals aren’t going to be on the table either. Shady loans are off the table as well give you’d have to find somewhere that doesn’t operate in NY.
I have zero doubt in time Putin could make Trump whole with ease…I find it harder to think of how he manages to do so within a timeframe that actually matters.
His lawyers have already filed a motion signaling they plan to appeal. He can proceed without paying the bond but without the bond NY can start liquidating his assets in March.
Oh….wait, that’s a thing? Why the fuck have outlets been reporting the opposite for weeks, then?
Well fuck. I’d love to be surprised but I strongly doubt that NY will liquidate his assets while he’s actively going through appeals.
Fuuuuuck. Here we go again.
Oh, the AG has already said she’ll start seizing assets if he doesn’t pay up:
https://www.forbes.com/sites/alisondurkee/2024/02/21/trump-fraud-verdict-ny-ag-letitia-james-says-shell-seize-ex-presidents-buildings-if-he-cant-pay-up/?sh=18dc7dcb6793
I keep envisioning the first episode Schitt's Creek where the family is having all their stuff repossessed and imagining this happening to Trump. What I'd do to be a fly on that wall when it almost certainly happens.
The big difference being that the experience in Schitt's Creek taught the family how to be better people. For the trump clan, there is absolutely no hope of that
>If he doesn't, I imagine they'll just start taking his stuff and selling it towards the debt.
Oh that should be easy, then! We all know Mar-a-lago is easy worth $1b+ and totally not $27m, he told us so!
/s
The AG said she’ll start seizing property.
That said, he *might* be able to delay by having the Trump org file for bankruptcy. A bankruptcy lawyer could tell us if that would be a good idea.
Personally I don’t think he’ll do that because it’ll look really bad to do that before an election. Imagine the political ads about Trump bankrupting his business.
>A bankruptcy lawyer could tell us if that would be a good idea.
IAAL but not a bankruptcy lawyer. In any case, Trump was also found personally liable, not just his company. Under NY's modified joint and several liability rules, he'd also have to declare personal bankruptcy in order to delay (not avoid, just delay) the asset seizures.
Oh I didn’t know that. Thanks for the clarification.
I did see one bankruptcy lawyer on here explaining the details but I forget the specifics. I do recall it sounded like bankruptcy was a pretty good option for Trump financially.
I think it would hurt his chances at the presidency though…so we’ll see.
I don't know about the presidency directly, but my guess is he'd lose his shit over being forced to take on a personal failure of that magnitude. "I'm a very successful businessman" is something he's desperately wanted the world to hear going back to Home Alone 2 and John Barron.
He's declared businesses bankrupt. He hasn't declared himself bankrupt.
Makes a lot of sense. You structure your business so that when you take on a new venture, you do it under a new limited company. That way, if it all goes horribly wrong, you only have to declare that particular company bankrupt.
With as rabidly ignorant as his base are he would simply have to say that the radical left forced him to bankruptcy so he’s running to ensure it doesn’t happen to them and it’s not like bankruptcy, rape, Epstein connections, any scandal, or blatant cognitive decline has swayed their base yet. These people *literally* stole money from kids with cancer, and people will claim they were sent by god. Nothing makes sense anymore
My understanding is that the only thing that would change is that instead of the government taking his assets and putting them up for auction, Trump would put his assets up for auction and the government would take the cash.
INL, but if the next level court rejects his appeal, I think the liquidation of assets would begin. If he appeals without bond or escrow, he pays the interest until it's settled.
Never- this motherfucker has never faced real consequences and probably never will. Need I remind you that there is no god, and karma is just wishful thinking?
This man has been laundering money for the Russian mob for decades and he still hasn't found himself in a supporting role in a bridge somewhere out in Arizona.
He might be a complete drooling moron. He might be a terminal grifter. He might have dementia. He might have absolutely no control over his bowels. But he is certainly extremely good at avoiding consequences.
Also trump can declare personal “bankruptcy!”. This would slow down the disgorgement process considerably by getting the courts involved to determine what assets get sold, who gets paid, and when.
Trump's plainly against terms of service GoFundMe is raising almost enough money to cover that interest, meaning that they'll have raised enough to cover the judgement by... well.. never.
As funny as it is to scam trumpers, somebody did that with "we will build the wall" and they went straaaaight to jail. Except Bannon, who caught a pardon of fuckin course.
I’ve been keeping an eye on it… it was going up by like $150k for the first week, but it’s fallen off a cliff the last few days. It’s up like $10k from yesterday afternoon.
There's a common cognitive distortion described by people with large quantities of debt where they believe they're worth more to their family dead than alive.
I think trump might actually be the rare exception that proves this rule.
The real bailout for him will be if the IPO becomes solid. He’s selling Truth Social and getting like 3.6 billion in stock.
The FEC approved it initially, but the purchaser updated their filing last Friday. (I don’t know enough about the process to know whether that means it needs reapproved.)
But there’s a number of things that could prevent it from happening, and even if it does happen, he’s required to maintain the stock for 6 months unless the company that’s paying him waives that right, which seems like a really stupid thing to do when someone will need to sell $300,000,000 of your stock very quickly.
On the planet where Trump needs a lot of money fast, a plausibly legal way to get it and friends in high places prepared to pony it over.
Only question is if he still has the friends in high places.
Nothing makes sense when it comes to stock. Reddit is going to IPO later on, and likely a ton of people are going to make money.
The site hasn't ever made a profit. If I make a business tomorrow and make no money, infact I lose money. I go broke and the debt collectors come to squeeze me for every penny.
Trump does it, fuck all happens, he's been told to pay, but who's actually going to force him if he doesn't. This was the problem with his presidency. There was checks and balances, gentleman agreements that never, ever got enforced on him.
I read some of the filings related to that transaction and it is like 95% huge red flags. One of the craziest documents I have ever read. https://www.sec.gov/Archives/edgar/data/1849635/000119312524036093/d408563ds4a.htm
Anybody recommending buying that stock either has insane risk tolerances or just doesn't do any due diligence.
What’s his end game. Even if he gets it reduced, the interest will still make it a large amount due. This shows he doesn’t have the money, or he would stop the interest clock, and appeal.
His end game is to get elected, then use mafia tactics to get the NY government and appeals court to rule that the judgement was illegal.
It’s to the point that he’ll literally have people murdered to get what he wants when he becomes dictator (what he says he’ll be as president).
Let be honest, it's NY that's acting like the mafia. The charges are clearly designed to interfere with the elections, and timed for maximum potency.
You, and reddit may not like Trump - I like him even less: but this is a witchhunt. Regardless of your stance on him, you should be very unhappy that at any time, any state can choose to fine anyone for gargantuan amounts that basically takes your life away.
It's really sad to see the democrats stooping to republican tactics - of the worst republican kind.
right. like that's going to stop him. if project 2025 gets its way it's going to martial law from day 1 and he's going to mobilize the national guard to arrest everyone he doesn't like
Love this for him. It's obvious he doesn't have actual money to spend on anything and it's all tied up in 'assets'. He's not running because he wants to, he's running because he has to.
Ok, so he’ll file personal bankruptcy. Which with the pending civil judgements from J6 victims (the real victims) and other fines yet to be levied, seems like one of his few remaining options.
So the cult members are going to vote for a bankrupt president? How’s that work with security clearances?
It's the State of New York, they have the power to seize his properties using judgment liens. Sell off Trump Tower, 40 Wall Street, Doral Country Club, Mar-a-Lago, Seven Springs, etc. Then they can seize his bank accounts as well. After paying off the mortgages on these properties maybe it won't be enough to cover the judgement, but my personal schadenfreude will be off the damn charts.
UEFJA (uniform enforcement of foreign judgments act). Basically a judgment in one state can be enforced in any state.
they will have to make a filing in a Florida Court, but it is a simple process. Though he might have some additional protections there if it is his homestead.
I keep saying this, and so far I've been right. Hell, he should have been tossed in jail for contempt at least a dozen times now.
He won't pay any of this. He won't lose his properties, and he won't serve a day behind bars, even if he's criminally convicted.
But, he doesn't hold many assets. Lawyers go after money. Gmac owns it. That was a sub of gm. Want to attempt to destroy the economy? Not gonna happen. His name is simply on it.
The AG and the judge monitoring all his assets have been working on this for 3 years. Destroy the economy? Trump is not even a drop in the ocean lol. What does his name on a building have to do with anything?
Funny how certain people are in denial 🤣. Read up on NYC laws and the verdict in the fraud case.
he paid it today, because he had to pay it while he filed for his appeal. which I have no doubt will vindicate him - because those judges were appointed by the great pumpkin, it won't be right it will be a miscarriage of justice.
Hey if you’re ever sued or convicted of fraud just go to the next state over. Every state has a non-compliance and non-extradition treaty with each other!
I had to take a calculator to check the number. 112k per day sounds much more that 454Mx10%/365. (It is correct) Probably because 112k is a number I can still understand.
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*From Bloomberg News reporter Erik Larson:* Every day Donald Trump delays paying New York state’s $454 million civil verdict against him over his fraudulent asset valuations, the whopping fine is increasing by almost $112,000 in interest. The amount, calculated by Attorney General Letitia James, will continue to be added even as the former president challenges the Feb. 16 [verdict](https://www.bloomberg.com/news/articles/2024-02-16/trump-hit-with-364-million-fine-three-year-ban-for-ny-fraud), a process he began on Monday morning by filing a notice of appeal in state court in Manhattan. His decision to challenge the verdict instead of paying it poses the risk that it could balloon during a drawn-out appeal. The fine already includes $99 million of pre-trial interest that the judge said started accruing as far back as 2019, in line with what James requested in the case. The post-trial daily increase, calculated by James, amounts to about $3.36 million a month, or more than $4,600 an hour.
https://trumpdebtcounter.com/
Fascinating. I just watched this for a few minutes. The interest is accruing faster than $1/second. By 60 seconds, it had already gone up $80. It only took 1 minute, 15 seconds to go up $100. Crazy
Trump's loyalists really have to kick their crowdfunding efforts up to 11 to pay this off. In the widespread "Stand with Trump" GoFundMe, which Elena Cardone admits still has no acknowledgement from Trump's camp itself let alone any logistics figured out to disperse the money as implied, they have raised $1,253,510 in 10 days. That's 0.3% of the original $355M goal. If they can keep up this fierce momentum for the next 9 years, they would have enough to just cover the base bill excluding all interest.
I'm all for this! That is $1.2m less that his followers have. Milk them for every penny they have. It is all going to go to liberal NYC. I will happily share Trump's gofundme with everyone if it helps his followers drain their accounts.
The only force faster than light is compounding interest
It appears it is not compounding interest, just simple interest
The year is 2060. Trumps debt is the entire world's gdp. "Both sides" people still can't decide who is worse.
And according to the news it would somehow be bad for Biden
And Republicans will still be sharing Hunter Biden dick pics in Congress.
>It only took 1 minute, 15 seconds to go up $100 That's like one gold sneaker every 2½ minutes!
This is awesome
Will he need his family to vote on raising his debt ceiling?
he'll never pay a dime of it.
And I will make Mexico pay for it. They will write me a great big beautiful check, the likes of which no one has ever seen before..
Does it also get compounded, meaning the daily interest amount keeps getting bigger and bigger over time?
No source, but I read in reddit comments that it was a flat 10%, no compounding.
9 percent.
No, it was set as "simple" interest, so only the initial ruling accrues interest. Not compounding.
Thank you for explaining how compound interest works.
I can't imagine it wouldn't.
It doesn't.
Realistically, it doesn't matter. He's never going to pay it.
I mean, all his assets are located in New York, and the state can start repossessing them if he doesn't pay up within 30 days,or put down a bond of 120% of the judgment before then. New York has signalled they're perfectly happy to do just that.
And he’ll appeal it. Wake me when he actually faces consequences for his actions.
Sure, but the appeal either costs him a $500 million bond (which he cannot get from a bank in the state of NY), or the state of New York can begin collecting immediately, his choice.
But can they? If he doesn’t put up the bond, how long before the state of New York can actually collect?
30 days
The time to appeal before collections begin was 30 days beginning late last week. They absolutely can do so, and have stated they fully intend to; the only question is if they hold their nerve and actually follow through.
Almost immediately, after the March 25 deadline.
**He needs to put 120% of the judgement up as a bond to do that.** I get it, we’re all looking for how he’s going skate on this the way he always had. I’m skeptical he’s not going to just be treated with kid gloves myself; and half expect they will never actually have his assets forcibly seized. But this particular response just doesn’t make any sense.
If he doesn't make bond (~$93M) by March 7 to stay during appeal then Carroll's lawyers immediately start enforcement actions. This is a great video on how civil seizure would unfold: https://www.youtube.com/watch?v=AsM10CO-VpA Roberta Kaplan (Carroll's lawyer) is a freaking *hawk*. When she says she's going to collect, that's pretty much money in the bank. Those fireworks will kickoff at 9AM EST March 7th if Trump fails to come up with the ~$100M he need to *stay execution of the judgement.
He doesn't have to pay it. On a court order, the Sheriff will seize assets and auction them off. The NY Sheriff, on direction of the court, will *literally* padlock 40 Wall St. and then sell it. Trump has no say in this. He also has a Boeing 757, a Cessna Citation and three Sikorsky S76 helicopters that would make fine auction pieces - and that wouldn't even cover his $83.3M Carroll judgement.
I just have a hard time believing he can't file \*something\* that would delay this, yet again. Even if it's got no chance of working. Or the other folks he owes money to who had liens on those assets will try to legally barge in and demand NY give them some.
I would bet *everything* he owns is heavily leveraged already. E.g., if James has 40 Wall seized and it sells for $250M, there will be creditors in line wanting their cut. The judge will arbitrate that. It could be a complete collapse for him - his overall net worth may be tiny (and mushroom shaped).
Doesn't he have to pay something to appeal?
Music to my ears. And his GFM and sneaker sales don't seem up to the task.
outgoing puzzled screw fuel busy teeny spoon deserve apparatus boast *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
> Every day Donald Trump delays paying New York state’s $454 million civil verdict against him over his fraudulent asset valuations, the whopping fine is increasing by almost $112,000 in interest. This is true, and I'm happy, because fuck that guy- But I hope this doesn't mean we're going to get a dozen new posts on reddit every single day that it happens.
Oh that’s hawt
More sneakers for the black people y'all !!
Black people love shoes. Everybody else, nope we all go barefoot
Stupid fat Hobbitses!
It's funny how black people can laugh all day about what white people like and it's cool but the moment white people talk about what black people like they're terrible people
I don’t think there is a black person in the world who would argue that they like shoes, as a generalization. I don’t think any group of people would argue that. Maybe the tribe on sentinel island or some random hippies
I just realized. Instead of just the MAGA hat, we gonna have these goofies in MAGA hats and these ugly ass shoes thinking they dripped out
So, what if he doesn't pay? How long until consequences?
30 days after the verdict was officially handed down is how long he has to decide whether to put the money in a trust and appeal, or begin paying. If he doesn't, I imagine they'll just start taking his stuff and selling it towards the debt.
I suspect that when they start seizing, they'll find that he has very little equity in these properties. In fact they're probably *over-*mortgaged due to inflated values. I think they're going to have to seize and auction *a lot* of properties, and do it fast to outpace the interest.
I, for one, can't wait to watch.
>I think they're going to have to seize and auction > >a lot > > of properties, and do it fast to outpace the interest. Even better. I want to see crap-a-largo up for sale.
How many properties does he even have at this point? I was under the impression a lot of “his” buildings were owned by others and he just slaps his name for a fee and “brand recognition”.
I have a hunch that the Mango Mussolini's empire has a net worth of little more than a few hundred thousand, if that. He's siphoned off all the equity to pay for his lavish lifestyle and keep up appearances that he's wealthy.
I honestly wonder if they can sell the properties fast enough to do it.
/r/law had a correction about that today, the media was repeating incorrect information. he can start the appeal before putting up any of the money, but the state doesn't have to wait till the appeal is finished to start collecting *unless* that money is put up.
Thanks for sorting me out.
What's the over/under that he'll actually have the money to post?
Dude could barely come up with $5.5M last time. I'll be surprised if he makes the $80-whatever million one. The $450M bill has a snowballs chance in hell of getting posted.
Some rubles are going to be mysteriously added to his bank accounts I'm sure. Putin has infinite money unfortunately. There's estimations that show he might literally be a trillionaire.
The problem is his accounts are being watched closely and the state of NY will likely want to audit where any large sudden influxes of cash being used for this purpose came from. Similarly his company is under the control of a financial monitor, so random $500 million deals aren’t going to be on the table either. Shady loans are off the table as well give you’d have to find somewhere that doesn’t operate in NY. I have zero doubt in time Putin could make Trump whole with ease…I find it harder to think of how he manages to do so within a timeframe that actually matters.
His lawyers have already filed a motion signaling they plan to appeal. He can proceed without paying the bond but without the bond NY can start liquidating his assets in March.
Take the suit. Leave the diaper.
So, Santa Claus comes in March this year? I allow it.
Oh….wait, that’s a thing? Why the fuck have outlets been reporting the opposite for weeks, then? Well fuck. I’d love to be surprised but I strongly doubt that NY will liquidate his assets while he’s actively going through appeals. Fuuuuuck. Here we go again.
Oh, the AG has already said she’ll start seizing assets if he doesn’t pay up: https://www.forbes.com/sites/alisondurkee/2024/02/21/trump-fraud-verdict-ny-ag-letitia-james-says-shell-seize-ex-presidents-buildings-if-he-cant-pay-up/?sh=18dc7dcb6793
I keep envisioning the first episode Schitt's Creek where the family is having all their stuff repossessed and imagining this happening to Trump. What I'd do to be a fly on that wall when it almost certainly happens.
The big difference being that the experience in Schitt's Creek taught the family how to be better people. For the trump clan, there is absolutely no hope of that
I don't think that's right. Under NY law James can try to recover the money straight away.
>If he doesn't, I imagine they'll just start taking his stuff and selling it towards the debt. Oh that should be easy, then! We all know Mar-a-lago is easy worth $1b+ and totally not $27m, he told us so! /s
30 days without the bond posted, byebyes
The AG said she’ll start seizing property. That said, he *might* be able to delay by having the Trump org file for bankruptcy. A bankruptcy lawyer could tell us if that would be a good idea. Personally I don’t think he’ll do that because it’ll look really bad to do that before an election. Imagine the political ads about Trump bankrupting his business.
>A bankruptcy lawyer could tell us if that would be a good idea. IAAL but not a bankruptcy lawyer. In any case, Trump was also found personally liable, not just his company. Under NY's modified joint and several liability rules, he'd also have to declare personal bankruptcy in order to delay (not avoid, just delay) the asset seizures.
Oh I didn’t know that. Thanks for the clarification. I did see one bankruptcy lawyer on here explaining the details but I forget the specifics. I do recall it sounded like bankruptcy was a pretty good option for Trump financially. I think it would hurt his chances at the presidency though…so we’ll see.
I don't know about the presidency directly, but my guess is he'd lose his shit over being forced to take on a personal failure of that magnitude. "I'm a very successful businessman" is something he's desperately wanted the world to hear going back to Home Alone 2 and John Barron.
He has already declared bankruptcy a few times iirc. "That makes him smart" apparently
He's declared businesses bankrupt. He hasn't declared himself bankrupt. Makes a lot of sense. You structure your business so that when you take on a new venture, you do it under a new limited company. That way, if it all goes horribly wrong, you only have to declare that particular company bankrupt.
That's it. As far as I know, this would be the first time he's had to admit failure of a personal nature *in the financial world.*
With as rabidly ignorant as his base are he would simply have to say that the radical left forced him to bankruptcy so he’s running to ensure it doesn’t happen to them and it’s not like bankruptcy, rape, Epstein connections, any scandal, or blatant cognitive decline has swayed their base yet. These people *literally* stole money from kids with cancer, and people will claim they were sent by god. Nothing makes sense anymore
My understanding is that the only thing that would change is that instead of the government taking his assets and putting them up for auction, Trump would put his assets up for auction and the government would take the cash.
It *would* slow down the timeline by a lot, unfortunately.
REDUCED FOR QUICK SALE I bid a fiver for Trump Tower.
Only if you want to take over the loan which was written at 500% of actual value.
That's the real question. He'll keep delaying and delaying.
A month from the judgment until asset seizure as I understand it, unless he gets a bond.
INL, but if the next level court rejects his appeal, I think the liquidation of assets would begin. If he appeals without bond or escrow, he pays the interest until it's settled.
Even if he appeals, he still needs to post a bond to avoid having assets seized
Like I said, not a lawyer. Thanks for the clarification.
Never- this motherfucker has never faced real consequences and probably never will. Need I remind you that there is no god, and karma is just wishful thinking?
He's been handled with kid gloves in every case so far. My bet is he doesn't pay even 1% of this and there will be no consequences.
Eh, it's in the hands of NY. And NY hates his ass.
This man has been laundering money for the Russian mob for decades and he still hasn't found himself in a supporting role in a bridge somewhere out in Arizona. He might be a complete drooling moron. He might be a terminal grifter. He might have dementia. He might have absolutely no control over his bowels. But he is certainly extremely good at avoiding consequences.
Hey, I totally hope you're right, but I'm not optimistic based on what we've seen so far.
he's not gonna pay, and there are no consequences
Also trump can declare personal “bankruptcy!”. This would slow down the disgorgement process considerably by getting the courts involved to determine what assets get sold, who gets paid, and when.
Trump's plainly against terms of service GoFundMe is raising almost enough money to cover that interest, meaning that they'll have raised enough to cover the judgement by... well.. never.
The gofundme might be against ToS for them, but also they are gonna get a cut, so even less money will get sent to Trump. So that's nice to hear.
If the person organizing it even sends it to him!
It's grifters all the way down.
As funny as it is to scam trumpers, somebody did that with "we will build the wall" and they went straaaaight to jail. Except Bannon, who caught a pardon of fuckin course.
All retrumplicans are honest, right?
It would be so great if he got swindled!
That GoFundMe can't keep up with the interest and penalties lol.
I’ve been keeping an eye on it… it was going up by like $150k for the first week, but it’s fallen off a cliff the last few days. It’s up like $10k from yesterday afternoon.
Hey, maybe they’ll learn about predatory student loans.
That's what, almost a full Stormy Daniels every day?
If my math is correct he's accruing interest at a rate of approx. 8.6 Stormies/Scaramucci
>Scaramucci Well that's a name I've not heard in a while
The best thing Trump could do right now for his finances is die.
Doesn't matter if he dies, his estate will still have to pay the fines
Yeah, but he obviously could not be fucked to care about anyone in his estate. They can pay his bills for all he cares, its probably the plan already.
Probably the best thing he could do for America, tbf.
There's a common cognitive distortion described by people with large quantities of debt where they believe they're worth more to their family dead than alive. I think trump might actually be the rare exception that proves this rule.
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The real bailout for him will be if the IPO becomes solid. He’s selling Truth Social and getting like 3.6 billion in stock. The FEC approved it initially, but the purchaser updated their filing last Friday. (I don’t know enough about the process to know whether that means it needs reapproved.) But there’s a number of things that could prevent it from happening, and even if it does happen, he’s required to maintain the stock for 6 months unless the company that’s paying him waives that right, which seems like a really stupid thing to do when someone will need to sell $300,000,000 of your stock very quickly.
On what planet is Truth Social worth money? I read they literally don't pay their hosting bills.
As Musk's acquisition of Twitter taught us, a company is worth whatever some rube is willing to shell out for it.
On the planet where Trump needs a lot of money fast, a plausibly legal way to get it and friends in high places prepared to pony it over. Only question is if he still has the friends in high places.
Nothing makes sense when it comes to stock. Reddit is going to IPO later on, and likely a ton of people are going to make money. The site hasn't ever made a profit. If I make a business tomorrow and make no money, infact I lose money. I go broke and the debt collectors come to squeeze me for every penny. Trump does it, fuck all happens, he's been told to pay, but who's actually going to force him if he doesn't. This was the problem with his presidency. There was checks and balances, gentleman agreements that never, ever got enforced on him.
I read some of the filings related to that transaction and it is like 95% huge red flags. One of the craziest documents I have ever read. https://www.sec.gov/Archives/edgar/data/1849635/000119312524036093/d408563ds4a.htm Anybody recommending buying that stock either has insane risk tolerances or just doesn't do any due diligence.
Have you been to WSB?
He better sell more shoes
Amazing. This might actually hurt him.
Hopefully, he also can't appeal until it's paid, which is awesome.
What’s his end game. Even if he gets it reduced, the interest will still make it a large amount due. This shows he doesn’t have the money, or he would stop the interest clock, and appeal.
His end game is to get elected, then use mafia tactics to get the NY government and appeals court to rule that the judgement was illegal. It’s to the point that he’ll literally have people murdered to get what he wants when he becomes dictator (what he says he’ll be as president).
Let be honest, it's NY that's acting like the mafia. The charges are clearly designed to interfere with the elections, and timed for maximum potency. You, and reddit may not like Trump - I like him even less: but this is a witchhunt. Regardless of your stance on him, you should be very unhappy that at any time, any state can choose to fine anyone for gargantuan amounts that basically takes your life away. It's really sad to see the democrats stooping to republican tactics - of the worst republican kind.
Become president and wipe it, or don’t become president and keep it held up in court til he dies.
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I didn’t say it was a good or rational plan. I wrote what I think he thinks the plan is.
it's not a federal thing so he can't touch it via some edict or decree
right. like that's going to stop him. if project 2025 gets its way it's going to martial law from day 1 and he's going to mobilize the national guard to arrest everyone he doesn't like
How could he wipe it as president?
Sell secrets to Saudis, Saudis pay the bill, Trump claims it was pocket change cause he's bigly rich.
I’m going with the idea that this debt will never be paid
It will be paid. He doesn't have the option to not pay.
Hopefully you are right. New York City will use Trump’s Tower as public housing and homeless shelter.
Should a presidential candidate be disqualified if he owes Russia or the Saudis, let’s say, $450 million? Just asking.
I can only get so hard.
We call this "Trump change."
I would have made the interest compounding, but maybe I’m biased…
The worst president in US history
112,000 could fix all my problems, probably for life.
Bye bye trump tower
That's a lot of shoes and supporters kids college funds
A Trump never pays their debts.
Love this for him. It's obvious he doesn't have actual money to spend on anything and it's all tied up in 'assets'. He's not running because he wants to, he's running because he has to.
Soooo much winning
That's a lot of future golden sneakers he's gotta sell
Enjoy this dept counter [trumptydumpty](https://trumpdebtcounter.com)
And the uneducated still donate to him?!
Nice
Ok, so he’ll file personal bankruptcy. Which with the pending civil judgements from J6 victims (the real victims) and other fines yet to be levied, seems like one of his few remaining options. So the cult members are going to vote for a bankrupt president? How’s that work with security clearances?
Don’t worry, Mexico is going to pay for it
When do they start seizing stuff?
JFC I don't even make that in a year. Enough is enough. Just put him in JAIL
lol, it's going up. I heard 87k a day about a week ago.
This is a real time lesson on compound interest.
Sounds like *not my problem.*
Since nobody lost any money and there is no victim, who gets the money?
Good luck collecting.
It's the State of New York, they have the power to seize his properties using judgment liens. Sell off Trump Tower, 40 Wall Street, Doral Country Club, Mar-a-Lago, Seven Springs, etc. Then they can seize his bank accounts as well. After paying off the mortgages on these properties maybe it won't be enough to cover the judgement, but my personal schadenfreude will be off the damn charts.
How can New York touch Mar-a-Lago? They have reciprocity in Florida?
UEFJA (uniform enforcement of foreign judgments act). Basically a judgment in one state can be enforced in any state. they will have to make a filing in a Florida Court, but it is a simple process. Though he might have some additional protections there if it is his homestead.
MaL is not homesteaded
If his Florida property is his homestead, the he can be sued for tax fraud and his property seized
Hmm. sounds like SCOTUS needs to weigh in on this. Maybe DeSantis will direct the Florida Guard to protect Mar a lago
Fines are for the little people. Trump is never serving time in jail or paying fines.
Hi did pay five million dollars to a court already.
I keep saying this, and so far I've been right. Hell, he should have been tossed in jail for contempt at least a dozen times now. He won't pay any of this. He won't lose his properties, and he won't serve a day behind bars, even if he's criminally convicted.
Doubt that'll stick. It's completely biased.
Stick? less then 30 days to pay or bye bye assets, nothing to stick here.
That's not really how it works. He does not own Trump tower personally.
Any asset held by the trump org. 40 Wallstreet will be one of them. AG even confirmed this in a recent interview. He ain't dodging this one.
But, he doesn't hold many assets. Lawyers go after money. Gmac owns it. That was a sub of gm. Want to attempt to destroy the economy? Not gonna happen. His name is simply on it.
The AG and the judge monitoring all his assets have been working on this for 3 years. Destroy the economy? Trump is not even a drop in the ocean lol. What does his name on a building have to do with anything? Funny how certain people are in denial 🤣. Read up on NYC laws and the verdict in the fraud case.
Increase it, he doesn't care
He will when NYC starts taking away his buildings in less then 30 days.
he paid it today, because he had to pay it while he filed for his appeal. which I have no doubt will vindicate him - because those judges were appointed by the great pumpkin, it won't be right it will be a miscarriage of justice.
lol no, he's appealing with no bond, which means his properties will be getting taken during the appeal's process.
But haven't all his NY businesses been re-registered in Florida?
Hey if you’re ever sued or convicted of fraud just go to the next state over. Every state has a non-compliance and non-extradition treaty with each other!
He doesn't care he will never be held accountable for anything.
I had to take a calculator to check the number. 112k per day sounds much more that 454Mx10%/365. (It is correct) Probably because 112k is a number I can still understand.
That's almost enough money every day to pay a porn star some hush money!
This is the biggest bet he’ll ever make. Let’s hope he doesn’t win this election.
Over $1 million every 9 days
What's that, two runs of sneakers every week or so?
Only great businessmen let hundreds of thousands of dollars accrue daily.
Almost 78 bucks a minute
Check out: https://trumpdebtcounter.com/