523
‘Keep your filthy hands off Trump Tower!’: Trump begs fans to pay his $464m bond
(www.independent.co.uk)
this post was submitted on 21 Mar 2024
523 points (97.5% liked)
News
23367 readers
3102 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Don't fool yourself into thinking Trump has no money. He does have money, he's just lying about the amount.
The answer is probably very simple. He probably has enough assets to pledge them as collateral for a loan, but he doesn't want to. He wants other people to pay instead. That's how he always works and why no one in NYC will do business with him.
The fine becomes payable with interest if you lose the case on appeal, which is nearly inevitable.
So he may be able to post bond by collateralising assets but is he able to pay the fine when he inevitably loses the appeal?
Also bond loans are not free. That's what he's afraid of - singing off a building's ownership to a bond holding company means it's gone.
He'd rather fight the procedural slow-moving government instead of a company whose actual job is relieving people of assets all day long.
Pretty much.. why pay anything at all if you can get somebody else to do it.
He doesn't want to pay for it. He doesn't want to pay the loan fees. The rich have always factually been above the law and in this case there seems to be more than a few people who are willing to go along with just giving the guy stacks of cash. Even if someone offered him the full amount i'm guessing he would keep soliciting for donations for it to see what he could get out of it.
It's business fraud 101 and he's a master of it. He wouldn't be where he was if he was stupid.
He's also trying to sway public opinion to be on his side, it props up his campaign and is on message of being politically persecuted whether or not it's true. It's on message with the republican party's "the democrats are the enemy" unification strategy too. If the judge backs down and asks for less or maybe even nothing at all then suddenly he's off scot free until the appeal is done. Odds are the appeal would not increase the fines either.
During the deregulation era (70/80's) lots of stupid people made millions. Having lots of money does not mean you're smart. Donald is not smart just rich , and that may be a lie too.
His father bought like $3Million in chips from the Trump's Castle Casino in Atlantic City when it started going under. Like, Fred Trump Sr. sent a chauffeur with a briefcase full of cash to buy $3M worth of chips, put them in the briefcase, and leave.
Any value Trump may have is 100% on paper
While that's likely true, on paper assets for very rich people equal out to cash whenever they feel like because instead of cashing out paper assets, you just borrow against them.
Unless he's already borrowed against them, which is seeming more and more likely.
Yeah that's where the whole house of cards comes crumbling down hopefully.
As long as I've known about this guy I think I've known that he's all about being over leveraged. He's like the poster child for debt. He used to take bigly advantage of debt in his many bankrupcies too.
I have sometimes even thought that maybe he had the Fed lower rates in December 2019 / January 2020 just so he could take out more loans at lower rates.
The Fed isn't controlled by the US government, and the president doesn't set interest rates.
Sure, Trump definitely didn't run a continual pressure campaign to get rate cuts in late 2019 that ultimately resulted in the Fed cutting rates two months from a worldwide economic crisis. They would've just done so of their own free accord as an absolutely independent body that aren't at all indebted to the people who appoint them and keep them in their seats:
https://www.reuters.com/article/idUSKCN1VB1I1/
Fucking /s
Edit: Of course there are conventions of deference and independence, but those are conventions (a.k.a. things that a blowhard, wanton dictator in the office doesn't actually give half a shit about).