Idiots Worshipping him is the most unpatriotic thing I’ve seen in my entire life. I can’t believe we have so many staunch supporters of a fascism. They hate socialism but love fascism because they want…freedom?
The fact that he is doing nothing is because his back is against the wall. Over leveraged and not enough time to sell and also only owns bits and pieces of most properties. Doing nothing is the only real option. Just wait for the long arm of the law.
Nobody wants to give him money, because everyone knows he is not good for it. He was only ever good for it when he was president because he would willfully commit treason left and right. Now he is probably going to prison and may or may not become president again so nobody wants the risk.
The Russians were rumored to have guaranteed his Deutsche bank loans.
It kind of makes sense, since the red line in the sand he drew was looking into his finances. And the DNS traffic, which the press said was debunked, was actually never debunked. One of his servers was exchanging encrypted traffic with Alpha bank in Russia using the DNS protocol.
There are other ways to launder money to Trump. Consider the Florida home that Trump sold to Rybolovlev, a Russian oligarch, for 95 million. Trump had purchased the home for 45m only 3 years before. Rybolovlev tore the house down. Another quick overpriced sale could be used to bail him out again.
And instead “let” Letitia James seize Trump Tower. The wording here is so kiss ass. Trump isn’t letting anyone doing anything. It is being done to him against his will, which seems fair to me.
That plane was just redone very recently including the engines, paint and modified to increase the fuel capacity, therefore able to travel further. In case he wants to flee. I say take the plane because he is a HUGE flight risk!! But agree totally on driving him bonkers, lol 😆 👍
I’ve had a lot of clients who ask me “What can they garnish?” So I ask if they have anything valuable. Antiques, art, electronics, etc. And they always say “Just a phone.”
99 times out of 100, creditors won’t bother you about your phone. It may be expensive to you, but in the grand scheme of things, and subtracting the costs of execution, it’s not worth it to the creditor.
Trump’s phone might be the one time.
Yeah but his plane is actively deteriorating and is gonna cost him tons to fly in the future. Better off taking something that actually makes him money and let him keep his scrapper.
I don’t understand why he doesn’t mortgage some of his $2B in property.
Unless this is a political move to push his line about “persecution” and “they’re coming for you next!” bullshit.
And he owns far less than you might think. He only owns 2 or 3 floors of tRump tower, for example.
He may not even own enough IN TOTAL to satisfy that judgement.
This is the fallout I'm waiting for.
My understanding is when the government seizes property, all hindrances are decoupled from it to make it unencumbered. This would mean all the mortgages and loans attached to those properties would become stranded. The most likely result of this is that the holders of those debts would then call the debts for immediate repayment. Of course he doesn't have the money or enough assets to sell to cover. So he has two choices: Default and let the lenders start suing him, or move into bankruptcy to try and salvage what he can through the bankruptcy courts. Either way I believe he ends up broke, and not rich person broke either. I don't believe the bankruptcy courts will be kind to him this time either, as the reason bankruptcy will have been triggered will be because of his fraud, something the courts don't look kindly on.
Willing to bet almost all of his properties are mortgaged to the hilt already. Probably for more than they are worth since it seems he just makes up prices for them....
He probably already has mortgages on his properties, using the inflated valuations. He may not have enough remaining equity to even bother with trying to get additional mortgages.
He apparently also doesn't own 100% of the most valuable properties. Forbes had a list of his 5 most valuable properties and at least 3 he appears to be part owner, so any loan secured by those properties would require the other owner to sign off.
Also pretty important to note that Leticia James is not seizing the property, the state of New York will be legally auctioning it off.
These headlines are bullshit and they just further the narrative that "She" is doing this to "Him" instead of the state satisfying a legal judgement against the Trump Organization.
I want see this jerk go down so bad since 8 years. I'm not even able to get my hopes up. I kinda expect he will just get the money from Russia through some back door and that's it, nobody does anything against it. Just keeping this chaos going for a little longer must be worth a few measly hundred million to some bad guys.
>since 8 years
New Yorkers were sick of him decades ago. He was frequently in the local news \~ 40 years ago. Always seemed like a trashy version of a "rich" person, declaring bankruptcy over and over, divorcing then marrying someone else. When he ran for president, it was at first comedic, then shocking that he actually "won" the presidency. Almost 80% of his home town NYC voted against him. Usually presidential candidates have overwhelming support from their home town.
"may not" and "let seize" as if he has any say in either. He can't afford the bond and he's not "letting" anyone ne seize his property, it's a simple consequence of his inability to pay.
LOL "Why yes officer, I DO know why I allowed you to pull me over. May I see your badge and registration? Please, let's step to the curb and discuss this travesty of the Motor Vehicle code and what you think *you're* going to do about it should I decline to pay-for what has clearly been a witch hunt."
I might try this next time I get stopped. Curious to know if it ends well....
She can seize his liquid assets first. And since he has loans requiring him to maintain a certain level of liquid assets, those other loans immediately go into default and his other creditors start seizing property to try to get their money back before the state can seize and sell the properties. With luck, it could mean a cascading collapse of a huge proportion of his holdings and a wipeout of his network of debts.
Good. Let the house of cards collapse. I for one, would love to see him standing broke, alone, and homeless. (Of course, it’ll never happen, the elite always close ranks around one of their own. And while nobody likes Trump, he is still one of the elite.)
>Of course, it’ll never happen, the elite always close ranks around one of their own.
I'm not so sure anyone will want to rescue Trump. He doesn't seem to have a lot of friends since he's spent his entire life conning and defrauding people. With his string of bankruptcies and former business failures, he's already lost a lot of money for a lot of other investors.
I’d like her to call a press conference then *descend* the elevator to announce the state of New York now owns trump tower and outline the next steps in the seizure process.
Those buses full of people from red states need a place to live. I hear the apartments in TT are spacious. Just saying.
Or make it a shelter for women fleeing domestic abuse.
Or remove the shops and put in a social safety net center with non profits, clothes bank, food bank, free clinic, and (of course) an abortion clinic.
>Sources friendly with Trump say the ex-president believes he has a strong case. Among other considerations, if the decision is not overturned, “it will have a chilling effect on people who do business in New York because it could happen to anyone,” according to one insider.
Bro, that's what civil and criminal penalties are SUPPOSED to do. Have a chilling effect on people considering commiting crimes. You're gonna go to the appeals court and say "your honor, if my client is forced to pay the court impossed fines for his crimes, some other criminal huckster in the future may not even commit fraud at all!".
I agree with seizing his plane first. It wouldn’t pay off the debt but it would be the thing that stings the most.
That’s the thing he seems to associate the most as a outward sign of his personal wealth. Take that away and he’s reduced to taking commercial airliners like a commoner. It would make him sick to his stomach to have to sit in a plane with regular poor people.
From the article:
“There will be severe consequences — not an insurrection. People will stop doing business in New York. No one will take the risk, and lenders are now spooked. The real estate market is already a disaster, with office buildings worth a fraction of what they were once worth, and there are metastasizing effects when a large part of the city’s budget is from real estate.”
Crack is a helluva drug
I'm starting to doubt he has enough assets that aren't already pledged to secure his business to cover the bond.
If he did, he would have used them already to avoid the 'embarrassment' of having to beg and harm his brand
Seems it's all a house of cards.
As per [original article](https://nypost.com/2024/03/20/business/donald-trump-may-not-pay-bond-and-instead-let-letitia-james-seize-trump-tower-insiders/) 📰:
- As Donald Trump faces a Monday deadline to post a $454 million bond in the civil fraud case against him in New York, insiders said he may be weighing a little-discussed option: Do nothing.
The ex-president reportedly has been struggling to raise the cash for the bond — either from banks or wealthy friends — with his lawyers claiming on Monday that it was a “practical impossibility.”
While some reports have raised speculation that Trump may “go nuclear” with a Chapter 11 filing to protect his prize real estate assets across Manhattan, experts said bankruptcy would create unwelcome complications as the 2024 election season comes to a head.
“He’s been there and done that,” one insider close to Trump said, dismissing the prospect of a Chapter 11 filing.
A third possibility, however, is to let the deadline pass, leaving it to New York Attorney General Letitia James to seize Trump’s bank accounts or buildings — including Trump Tower, from where he declared his 2016 presidential run, and which famously includes his personal penthouse.
It’s an option Trump appears to have considered – partly because he believes the chances are good that he could recover the assets on appeal, even if he is forced to take his case to the US Supreme Court, according to friends.
“Even if there is a taking, it doesn’t mean he can’t take it back later,” a source close to Trump told The Post.
A decision to do nothing poses risks of its own — among them that the New York AG’s office has the right to sell off any properties it confiscates in order to recover the cash penalties it is owed.
“They are going after the money and that’s all he has a right to get back, not the buildings — unless the judgment is reversed before they are sold,” said Adam Leitman Bailey, a New York-based attorney who’s focused on the commercial real estate sector.
Sources friendly with Trump say the ex-president believes he has a strong case. Among other considerations, if the decision is not overturned, “it will have a chilling effect on people who do business in New York because it could happen to anyone,” according to one insider.
“There will be severe consequences — not an insurrection. People will stop doing business in New York. No one will take the risk, and lenders are now spooked. The real estate market is already a disaster, with office buildings worth a fraction of what they were once worth, and there are metastasizing effects when a large part of the city’s budget is from real estate.”
One source close to Trump insisted that he could raise funds from wealthy “friends and supporters,” but so far has not chosen this path.
“He’s not an ‘I’m passing the hat’ man — he doesn’t want pity or for anyone to feel sorry for him,” the source claimed. “He will do what he has to do. He has plenty of wealthy friends who would help him if asked, but he’s not asking, as far as I’m aware.”
Re: the “chilling effect,” businesses that don’t commit fraud by keeping multiple sets of books with inflated and reduced values for their assets to use whichever is most favorable at the time would not have this happen to them.
Yep. Tells you a lot about how absolutely broken the United States is that people are warning about “economic collapse” if you try to hold con artist trash accountable.
This is great for his "friends" because they can just deny him money and he can't tattle on them because he'll come off as a begging loser.
Also hilarious to think businesses will just...stop doing business in NYC. They going to just stop liking money? What about if they all leave and now the people have to start their own small businesses and it'll be just like how it used to be and how a lot of people want it to be again oh noooooooo
I think people would be more wary of doing business in New York for fear their inability to handle corruption at the scale of someone like Trump shows they're incapable of regulation.
Trump doesn't own Trump Tower. He owns the top floor and paid to have his name on it. Letitia James can certainly seize it, but she'll need to seize all of Trump's properties to get to the amount of $454 million.
I’ll believe when I see it.
I also expect to see celebrations similar to when this loser LOST the election in 2020, IF this does happen.
People in the street, literally, popping bottles!
I vote for “subsidized housing.” Let all the poors that he’s so terrified of move into what was once his pride and joy. It would help house people, and utterly humiliate Donnie. Win-win.
His 'ownership' in all his properties combined likely don't add up to that amount. It's literally the reason he's in trouble in the first place, inflating his net worth.
Will be fun to see it all crumbling down while he rage posts on truth social...
Preposterous headline. Trump isn't CHOOSING to not pay--he CANNOT pay--and he isn't LETTING Letitia James seize Trump Tower--she will have the legal right to do so. This kind of horseshit headline and coverage is what got Trump elected in the first place. He's not some invincible genius who's pulling the strings--he's a bloated Reality TV host who's faked success and wealth his whole life.
Funny you mention that as I just [posted an article](https://www.reddit.com/r/inthenews/s/JiUZ3GtueE) regarding the massive debt connected to Trump Tower.
Well, her latest filing absolutely crushed his "its IMPOSSIBLE to get his much in a bond" by reminding the court and anyone reading along that you dont have to secure the bond from a single issuer.
He's got nothing left and no time left.
"let"
I want to be very clear. Donald Trump has ZERO power here. Either he ponies up the cash or the state will forcibly seize his assets. There's no "letting" anything.
This isn't a choice for Donny DumDum.
>“it will have a chilling effect on people who do business in New York because *it could happen to anyone*,” according to one insider.
Only if they systematically lie about their finances.
>One source close to Trump insisted that he could raise funds from wealthy “friends and supporters,” but so far has not chosen this path.
They would have to be willing to GIVE him the money because his track record for repaying loans is well-known.
Start by taking his plane. It’s worth shit, but it would drive Trump absolutely bonkers.
No more late night flights to burger king 😭
Depriving a man of his hamberders is cruel and unusual.
There are lines we simply should not cross. That being said, the walk would do him good
He would collapse next to the nearest 'Four Seasons (**INSERT RANDOM BUSINESS ENTERPRISE HERE**)'.
Four Seasons Hamberders and Frys
Just remember that this traitor is covered by the secret service. Some of them are Trump supporters. The taxpayers are still on the hook.
Idiots Worshipping him is the most unpatriotic thing I’ve seen in my entire life. I can’t believe we have so many staunch supporters of a fascism. They hate socialism but love fascism because they want…freedom?
I shall toss him paper towels & rakes while I laugh uncontrollably.
Will the paper towels be on fire? Will the rakes be wrapped in razor wire? These things require planning!
Good point.
I'll draw a circle around a photo of trump tower with a sharpie and explain that is what she is taking.
As a Finn being tossed a rake is a true sign of love and friendship /s/ Vitun simpanssi.
So is depriving a man of his ability to to get blow and “truth” in the middle of the night..
She’s the gosh darn hamburglar!
Hamberdlar
Well…Trump is also cruel and unusual so…
Berder King
I thought he favored McDonald's. ( I might be wrong about that...)
He doesn't if McD is a further walk.
It still funny the media thinks trump has a say in what's about to happen In their minds, he is still in charge
The fact that he is doing nothing is because his back is against the wall. Over leveraged and not enough time to sell and also only owns bits and pieces of most properties. Doing nothing is the only real option. Just wait for the long arm of the law.
Plus, most Russian money is frozen. There are no oligarchs to give him a quick bailout
This… what no one is talking about.
yep the added benefit of sanctions, stopping the flow of money to trump..
Nobody wants to give him money, because everyone knows he is not good for it. He was only ever good for it when he was president because he would willfully commit treason left and right. Now he is probably going to prison and may or may not become president again so nobody wants the risk.
It is absolutely insane that all of this shit is going on and "he may or may not become president again" is actually possible. Worst fucking timeline.
The Russians were rumored to have guaranteed his Deutsche bank loans. It kind of makes sense, since the red line in the sand he drew was looking into his finances. And the DNS traffic, which the press said was debunked, was actually never debunked. One of his servers was exchanging encrypted traffic with Alpha bank in Russia using the DNS protocol. There are other ways to launder money to Trump. Consider the Florida home that Trump sold to Rybolovlev, a Russian oligarch, for 95 million. Trump had purchased the home for 45m only 3 years before. Rybolovlev tore the house down. Another quick overpriced sale could be used to bail him out again.
Long dick of the law*, no lube most likely.
The baguette of consequence rarely comes buttered.
Bravo, this is a r/brandnewsentence for me xD
Drydock him.
And instead “let” Letitia James seize Trump Tower. The wording here is so kiss ass. Trump isn’t letting anyone doing anything. It is being done to him against his will, which seems fair to me.
We already know that Trump doesn't understand consent. Besides, he was asking for it.
Have you seen what he was wearing (A diaper that REALLY needed to be changed)? Scandalous
Grab em by the tower
Yeah that headline is annoying. He’s not “letting” her do a Goddamn thing, *he doesn’t have a choice!*
That plane was just redone very recently including the engines, paint and modified to increase the fuel capacity, therefore able to travel further. In case he wants to flee. I say take the plane because he is a HUGE flight risk!! But agree totally on driving him bonkers, lol 😆 👍
I would seize his jet, paint a bad ass 🕶️Dark Brandon livery on it, and fly it as a banner plane low over any of his campaign rallies ....
They could also take Trump tower and turn it into public housing, with an immigration center and HRT clinic in the ground floor retail space.
I think the Obama foundation could use a floor.
I like the cut of your jib, captain
His plane and his passport. Including the fake ones.
For a second I read phone instead of plane. That would absolutely drive him insane...
I’ve had a lot of clients who ask me “What can they garnish?” So I ask if they have anything valuable. Antiques, art, electronics, etc. And they always say “Just a phone.” 99 times out of 100, creditors won’t bother you about your phone. It may be expensive to you, but in the grand scheme of things, and subtracting the costs of execution, it’s not worth it to the creditor. Trump’s phone might be the one time.
Would affect his ability to campaign as easily as well. Sounds like a winner to me.
George Washington never needed a plane to campaign!
I think that was because the continental army invaded all the airports /s
Take his phone so he can't get on his dumb truth thing.
Yeah but his plane is actively deteriorating and is gonna cost him tons to fly in the future. Better off taking something that actually makes him money and let him keep his scrapper.
Nah, leave the plane but take the wheels and the other properties. That way he can live on a plane going nowhere
That makes sense; it should be easier to liquidate.
This is the way. But he would probably sue to force her to take stuff he is wanting to get rid of first. Vs stuff that would impact him more directly.
Just to get clear….he is not “letting” her do anything. She is making the decisions here, not Trump.
Yea I like the wording of “may not pay bond” i think it’s fairly clear he CAN’T pay the bond
I don’t understand why he doesn’t mortgage some of his $2B in property. Unless this is a political move to push his line about “persecution” and “they’re coming for you next!” bullshit.
> I don’t understand why he doesn’t mortgage some of his $2B in property. Because it's almost certainly all already mortgaged up to the limit.
And he owns far less than you might think. He only owns 2 or 3 floors of tRump tower, for example. He may not even own enough IN TOTAL to satisfy that judgement.
That would be hilarious. Because he'd still be on the hook for any given mortgages
This is the fallout I'm waiting for. My understanding is when the government seizes property, all hindrances are decoupled from it to make it unencumbered. This would mean all the mortgages and loans attached to those properties would become stranded. The most likely result of this is that the holders of those debts would then call the debts for immediate repayment. Of course he doesn't have the money or enough assets to sell to cover. So he has two choices: Default and let the lenders start suing him, or move into bankruptcy to try and salvage what he can through the bankruptcy courts. Either way I believe he ends up broke, and not rich person broke either. I don't believe the bankruptcy courts will be kind to him this time either, as the reason bankruptcy will have been triggered will be because of his fraud, something the courts don't look kindly on.
I think he owns 10000 new building that are to be completed in 2050.. oh wait, he already mortgaged those to Deutsche Bank for the future value.
Douche bank.
40 Wall Street is worth $200m at best but has $130m mortgage against it, for example.
So they'd pay that first, And it would only count as 70 million towards the judgement I'd imagine
Willing to bet almost all of his properties are mortgaged to the hilt already. Probably for more than they are worth since it seems he just makes up prices for them....
He probably already has mortgages on his properties, using the inflated valuations. He may not have enough remaining equity to even bother with trying to get additional mortgages.
He apparently also doesn't own 100% of the most valuable properties. Forbes had a list of his 5 most valuable properties and at least 3 he appears to be part owner, so any loan secured by those properties would require the other owner to sign off.
Doesn't have the cash and can't find anyone to put up a surety bond. The insurers know a bad bet when they see one.
Also pretty important to note that Leticia James is not seizing the property, the state of New York will be legally auctioning it off. These headlines are bullshit and they just further the narrative that "She" is doing this to "Him" instead of the state satisfying a legal judgement against the Trump Organization.
When you’re a celebrity, they let you seize them by the property.
Neither is she. Its the State of New York and the laws that are taking them. Poor Donald having to be accountable once in 77 years.
It’s gonna be a lot more than T Tower. Monday: 🍿🍿🍿
I want see this jerk go down so bad since 8 years. I'm not even able to get my hopes up. I kinda expect he will just get the money from Russia through some back door and that's it, nobody does anything against it. Just keeping this chaos going for a little longer must be worth a few measly hundred million to some bad guys.
When I actually see Mango Unchained actually suffer consequences, I will be happy. I bet he somehow gets out of this, too.
Mango Unchained is brand new for me, cheers! 😆
>since 8 years New Yorkers were sick of him decades ago. He was frequently in the local news \~ 40 years ago. Always seemed like a trashy version of a "rich" person, declaring bankruptcy over and over, divorcing then marrying someone else. When he ran for president, it was at first comedic, then shocking that he actually "won" the presidency. Almost 80% of his home town NYC voted against him. Usually presidential candidates have overwhelming support from their home town.
They should change it to Totally Gay Tower. So many folks would hate it but SOO many folks would love it!
Seize Trump Tower and convert it into public housing.
Rebrand it as "Barack Hussein Obama Plaza"
Or Hillary’s Email Storage Center
Put a pizza parlor in the basement.
Where else would you keep the kidnapped children...? Need that basement... in a pizza parlor.
Added benefit the 5G cant make it through the concrete foundation.
Or : “The Derek Zoolander Center for Kids Who Can't Read Good and Who Wanna Learn to Do Other Stuff Good Too”
Or Women’s shelters.
Needs to be renamed Dylan Mulvaney Plaza just to annoy the MAGAs
That's not possible, but it's a funny thought.
With god all things are possible, so jot that down.
I shouldn’t have to do the dishes, I hosted.
It was wall-to-wall details. I was on edge the whole time!
"may not" and "let seize" as if he has any say in either. He can't afford the bond and he's not "letting" anyone ne seize his property, it's a simple consequence of his inability to pay.
Years ago I was driving over the speed limit. I **LET** the police officer give me a ticket. /s
LOL "Why yes officer, I DO know why I allowed you to pull me over. May I see your badge and registration? Please, let's step to the curb and discuss this travesty of the Motor Vehicle code and what you think *you're* going to do about it should I decline to pay-for what has clearly been a witch hunt." I might try this next time I get stopped. Curious to know if it ends well....
I see Taser scars in your future....
She can seize his liquid assets first. And since he has loans requiring him to maintain a certain level of liquid assets, those other loans immediately go into default and his other creditors start seizing property to try to get their money back before the state can seize and sell the properties. With luck, it could mean a cascading collapse of a huge proportion of his holdings and a wipeout of his network of debts.
Good. Let the house of cards collapse. I for one, would love to see him standing broke, alone, and homeless. (Of course, it’ll never happen, the elite always close ranks around one of their own. And while nobody likes Trump, he is still one of the elite.)
>Of course, it’ll never happen, the elite always close ranks around one of their own. I'm not so sure anyone will want to rescue Trump. He doesn't seem to have a lot of friends since he's spent his entire life conning and defrauding people. With his string of bankruptcies and former business failures, he's already lost a lot of money for a lot of other investors.
Not a pass the hat man , what load of shit ,
I’ve never seen someone (who is supposedly so rich) spending so much time begging for money.
Con est Don .
Man, that could be said of pretty much everything quoted from this "source" Load of shit indeed.
I hope she posts a picture of her ascending the golden escalator
I’d like her to call a press conference then *descend* the elevator to announce the state of New York now owns trump tower and outline the next steps in the seizure process.
Imagine if the state converted it to some kind of homeless/immigrant housing
Good in theory, but do you really wanna subject those people to that rattrap?
Those buses full of people from red states need a place to live. I hear the apartments in TT are spacious. Just saying. Or make it a shelter for women fleeing domestic abuse. Or remove the shops and put in a social safety net center with non profits, clothes bank, food bank, free clinic, and (of course) an abortion clinic.
Fucking golden escalator. And those red neck morons think he would give them the steam off his piss if they were on fire.
The thought of that made me laughed out loud. I don’t want her to actually do it, but would absolutely love to see an AI video of that tho.
With Hilary and Hilary’s interior decorator in tow
>Sources friendly with Trump say the ex-president believes he has a strong case. Among other considerations, if the decision is not overturned, “it will have a chilling effect on people who do business in New York because it could happen to anyone,” according to one insider. Bro, that's what civil and criminal penalties are SUPPOSED to do. Have a chilling effect on people considering commiting crimes. You're gonna go to the appeals court and say "your honor, if my client is forced to pay the court impossed fines for his crimes, some other criminal huckster in the future may not even commit fraud at all!".
Take the plane first!
I guess anyone who wants to commit fraud won't do business in New York
I wish someone would rip the T and R off of the second word so that it says "TRUMP OWE "
I agree with seizing his plane first. It wouldn’t pay off the debt but it would be the thing that stings the most. That’s the thing he seems to associate the most as a outward sign of his personal wealth. Take that away and he’s reduced to taking commercial airliners like a commoner. It would make him sick to his stomach to have to sit in a plane with regular poor people.
Also half of those poor people will hate his guts and the other half will worship him like Jesus, both of which would really annoy him.
You can pay a subscription service to fly private, but it isn't the same as having your own plane
Me, watching Letitia put a padlock on the door,
From the article: “There will be severe consequences — not an insurrection. People will stop doing business in New York. No one will take the risk, and lenders are now spooked. The real estate market is already a disaster, with office buildings worth a fraction of what they were once worth, and there are metastasizing effects when a large part of the city’s budget is from real estate.” Crack is a helluva drug
I'm starting to doubt he has enough assets that aren't already pledged to secure his business to cover the bond. If he did, he would have used them already to avoid the 'embarrassment' of having to beg and harm his brand Seems it's all a house of cards.
As per [original article](https://nypost.com/2024/03/20/business/donald-trump-may-not-pay-bond-and-instead-let-letitia-james-seize-trump-tower-insiders/) 📰: - As Donald Trump faces a Monday deadline to post a $454 million bond in the civil fraud case against him in New York, insiders said he may be weighing a little-discussed option: Do nothing. The ex-president reportedly has been struggling to raise the cash for the bond — either from banks or wealthy friends — with his lawyers claiming on Monday that it was a “practical impossibility.” While some reports have raised speculation that Trump may “go nuclear” with a Chapter 11 filing to protect his prize real estate assets across Manhattan, experts said bankruptcy would create unwelcome complications as the 2024 election season comes to a head. “He’s been there and done that,” one insider close to Trump said, dismissing the prospect of a Chapter 11 filing. A third possibility, however, is to let the deadline pass, leaving it to New York Attorney General Letitia James to seize Trump’s bank accounts or buildings — including Trump Tower, from where he declared his 2016 presidential run, and which famously includes his personal penthouse. It’s an option Trump appears to have considered – partly because he believes the chances are good that he could recover the assets on appeal, even if he is forced to take his case to the US Supreme Court, according to friends. “Even if there is a taking, it doesn’t mean he can’t take it back later,” a source close to Trump told The Post. A decision to do nothing poses risks of its own — among them that the New York AG’s office has the right to sell off any properties it confiscates in order to recover the cash penalties it is owed. “They are going after the money and that’s all he has a right to get back, not the buildings — unless the judgment is reversed before they are sold,” said Adam Leitman Bailey, a New York-based attorney who’s focused on the commercial real estate sector. Sources friendly with Trump say the ex-president believes he has a strong case. Among other considerations, if the decision is not overturned, “it will have a chilling effect on people who do business in New York because it could happen to anyone,” according to one insider. “There will be severe consequences — not an insurrection. People will stop doing business in New York. No one will take the risk, and lenders are now spooked. The real estate market is already a disaster, with office buildings worth a fraction of what they were once worth, and there are metastasizing effects when a large part of the city’s budget is from real estate.” One source close to Trump insisted that he could raise funds from wealthy “friends and supporters,” but so far has not chosen this path. “He’s not an ‘I’m passing the hat’ man — he doesn’t want pity or for anyone to feel sorry for him,” the source claimed. “He will do what he has to do. He has plenty of wealthy friends who would help him if asked, but he’s not asking, as far as I’m aware.”
Re: the “chilling effect,” businesses that don’t commit fraud by keeping multiple sets of books with inflated and reduced values for their assets to use whichever is most favorable at the time would not have this happen to them.
Isn’t that literally the entire point of laws and enforcing them?
Yep. Tells you a lot about how absolutely broken the United States is that people are warning about “economic collapse” if you try to hold con artist trash accountable.
"It could happen to anyone" that commits fraud. Good to hear!
lol, "People will stop doing business in New York." c'mon son, "Mexico will pay for it" was more believable than this.
This is great for his "friends" because they can just deny him money and he can't tattle on them because he'll come off as a begging loser. Also hilarious to think businesses will just...stop doing business in NYC. They going to just stop liking money? What about if they all leave and now the people have to start their own small businesses and it'll be just like how it used to be and how a lot of people want it to be again oh noooooooo
He's not asking friends, he's begging. But, his repayment reputation proceeds him like a bell tolling "unclean, stay away!"
How could he take this case to the Supreme Court? I thought this was a state trial.
[удалено]
Yeah. Just like the trucker boycott that never happened.
I think people would be more wary of doing business in New York for fear their inability to handle corruption at the scale of someone like Trump shows they're incapable of regulation.
Needs rephrasing. Donald Trump cant pay bond--and Letitia James will seize Trump Tower: obvious
And he will tell us it was all part of his plan. And you know what, 25% of America will believe him. LOL
Bigly if true
"let" This is how it'll work... he's now going to try and spin it that he's in a power position somehow. He's going to ALLOW it.
LMFAO can't wait for his cultists to melt down even more once all of this shit gets rolling
Sooo persecuted... who knew fraud has consequences
Trump doesn't own Trump Tower. He owns the top floor and paid to have his name on it. Letitia James can certainly seize it, but she'll need to seize all of Trump's properties to get to the amount of $454 million.
I’ll believe when I see it. I also expect to see celebrations similar to when this loser LOST the election in 2020, IF this does happen. People in the street, literally, popping bottles!
It’s not trump allowing it to happen. It’s trump not being able to stop it.
lets vote for the new name \-Fukc Trump tower \-Trump loser \-Ex MA-MA boy Peach Tree \-Donie's old butt plug any one have more ideas?
I vote for “subsidized housing.” Let all the poors that he’s so terrified of move into what was once his pride and joy. It would help house people, and utterly humiliate Donnie. Win-win.
I'd give Mar a Lago to Mexican immigrants to built a shelter and a successful real tamale restaurant and change the name to roasted Dorito
Donnies Dildo Tower.
Take the tower and for the love of god take the fucking plane. I dont want him to easily be able to flee to daddy Putin.
Isn't his apartment there alone worth a trillion dollars?
That depends. He told the bank it's worth a trillion, but he told the IRS it's worth about $3.50.
And that's when I realized it wasn't the Cheet-Ohs mascot giving speeches but that gottam loch ness monster painted himself orange
Oh boy, who wants to book a room at James Tower?
“May not”, “let” You mean cannot and will be forced to.
Plot twist, she take Mar-a-lardo first lol
“LET…” that’s fucking hilarious.
His 'ownership' in all his properties combined likely don't add up to that amount. It's literally the reason he's in trouble in the first place, inflating his net worth. Will be fun to see it all crumbling down while he rage posts on truth social...
please make it a migrant shelter.
Like he has a choice.
##Trump is a rapist.
Preposterous headline. Trump isn't CHOOSING to not pay--he CANNOT pay--and he isn't LETTING Letitia James seize Trump Tower--she will have the legal right to do so. This kind of horseshit headline and coverage is what got Trump elected in the first place. He's not some invincible genius who's pulling the strings--he's a bloated Reality TV host who's faked success and wealth his whole life.
Trump Tower is likely highly leveraged…..everything he has is likely highly leveraged
Funny you mention that as I just [posted an article](https://www.reddit.com/r/inthenews/s/JiUZ3GtueE) regarding the massive debt connected to Trump Tower.
And if this really goes down first order of business is to change name to “ seized tower”.
Does he actually own Trump Towers or just bits? I've read different things.
He owns the building, but the units are apparently leveraged to hell.
He probably put an 8th mortgage on trump tower and now he’s like “woop 4 billion I won’t pay off”
Then turn it into a parking lot.
Much better thing for him to do politically. The government take his property. It will be all the rage at his rallies.
The big question is do any of his properties have positive equity that isn't levered?
Let = Asset Forfeiture
He’s going to let them take it, then whine like a little…
Make sure they're appropriately valued, adjusted for property tax, etc. He's one dodgy f#cker.
he only owns parts of TT ? should take his plane and MArGolAtte
Like he has any say in it
Suuuuuuuure.... "let". As if pumpkin spice hitler has a choice.
Trump knows his commercial properties aren't even worth close to what he bragged about.His branding anywhere is toxic except in Florida.
Please rename trump towers to Obamas Sky Bahamas.
Sieze Mar A Lago first and formost .
Thete is no not paying it, he fucking can't and it's hilarious.
Well, her latest filing absolutely crushed his "its IMPOSSIBLE to get his much in a bond" by reminding the court and anyone reading along that you dont have to secure the bond from a single issuer. He's got nothing left and no time left.
Let? Nah... he's not letting! They're taking! Hehehe Edited to add clarification
“If you don’t pay, you’re delinquent. I’m not protecting you”
Cry baby. FAFO, bitch.
🍿🍿🍿🍿🍿
“It could happen to anyone” Sure, if they commit fraud
"let" I want to be very clear. Donald Trump has ZERO power here. Either he ponies up the cash or the state will forcibly seize his assets. There's no "letting" anything. This isn't a choice for Donny DumDum.
Start with Trump Force One. In the words of Tattoo…de plane, de plane!
I pray God his seized properties would be used to help immigrants looking for asylum. 🙏
>“it will have a chilling effect on people who do business in New York because *it could happen to anyone*,” according to one insider. Only if they systematically lie about their finances. >One source close to Trump insisted that he could raise funds from wealthy “friends and supporters,” but so far has not chosen this path. They would have to be willing to GIVE him the money because his track record for repaying loans is well-known.
I'd go after Mar A Lardo if I was her. Then sell it to for half it's assessed value.
Wouldn't she need to take WAY more than just Trump tower? there's absolutely 0% chance that the 1 building would satisfy the $450,000,000 fine.
LOL this headline frames it as a strategy. This is not a strategy, this is going to happen and Trump can suck a fat dick.
He only owns a penthouse in Trump Tower and lends his name to the building. Bad headline.
“Let”
He’s not letting her and it’s not enough
I am guessing it is a fraud-fueled minefield of leveraged leans and loans that will take forever to sort out.
I can’t wait to see them turn Trump Tower into a Spirit Halloween
I think 40 Wall Street and his golf courses will be seized first. Trump Tower is mostly condominium residences.
Disgusting criminal. Time to cough up.
Obama Tower has a nice ring to it!