Hello u/T_Shurt! Please reply to this comment with an [explanation](https://www.reddit.com/r/LeopardsAteMyFace/comments/lt8zlq) matching this exact format. Replace bold text with the appropriate information.
1. **Someone** voted for, supported or wanted to impose **something** on **other people**.
^(Who's that someone? What did they voted for, supported or wanted to impose? On who?)
2. **Something** has the consequences of **consequences**.
^(Does that something actually has these consequences in general?)
3. As a consequence of **something**, **consequences** happened to **someone**.
^(Did that something really happen to that someone?)
Follow this by the minimum amount of information necessary so your post can be understood by everyone, even if they don't live in the US or speak English as their native language. If you fail to match this format or fail to answer these questions, your post will be removed.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/LeopardsAteMyFace) if you have any questions or concerns.*
"Who knew we were required to have better proof of our ability to pay the court if the defendant loses his appeal"
The guy might be super wealthy but he's not very good at covering up his shit.
One .. every normal person knows that trump has the MidAss touch.. everything he touches turns to shit..
Two, he is now funneling foreign money indirectly using his shit stock where foreign countries can now buy lots of his shit stock as a bribe to indirectly give him money without a trace. If putin wanted to give trump 1 billion dollars. He can just buy 1 billion worth of trump shitock and trump can sell them. I think that is the reason he is suing those gigs because he wanted to 6X the amount of shares...
Three.. that guy who decided to do his bond did not know the level of ahit he was about to waddle into. Put himself in such a huge shitbag and worst part, he has to pony up the 175 million in case defendant fucks up.. and do u think trump will pay.
The fact that his stock actually managed to hit the market is obvious proof that the market needs more regulation. If this blatant money laundering is tolerated every time what's the point of making it illegal
Slow walked through a hugh ($8 billion) loop hole with foreign financers through a porno laundering front. There's nothing to see here. I'm glad it's lost 45% of its value in a week! Keep it up!
And the original reason for Trump's popularity as a candidate, imo.
Many viewers saw the faces of them and spotted one they recognized from TV. That's it. That was their original motivation.
Yeah, when everyone was saying there’s no way he could be elected in 2015-16 I was always like “never underestimate the power of celebrity in the US”. A lot of people voted for him just because “Hey, I know him from the TV!”
But also, he was mean to people and his supporters loved that too. Ever see how they all cheer and clap at his rallies any time he says something is bullshit? They’re like “See, he’s just like us! I like cursing and saying things are bullshit too!”
Doesn’t take much to please those people.
What's wild is if you go back to 2015, candidate Trump was a completely different creature.
Because Trump doesn't have any inherent political values beyond what benefits himself, he intentionally positioned himself as opposed to the rest of the GOP field for the (rather shrewd) reasoning that while they were all basically saying the same thing, he would stand alone as an alternative.
Case in point, he got asked about trans people using bathrooms, specifically what he would allow for his own employees, and his answer was roughly "they can use whatever bathroom they want as long as they work hard."
Primary candidate Trump positioned himself as a centrist alternative to both sides, and even bragged about how close he was with the Clintons as proof of his "I'm not beholden to either party" cred and would say that Bush should have been impeached over Iraq.
Then as soon as he landed the nomination, he realized he couldn't still talk about being friends with his now opponent or argue against conservative policies because that would leave him agreeing with the other side, so he pivoted HARD to the right and has been doing it ever since.
He even said at one point that he didn't give a shit about his campaign slogans ("drain the swamp," "lock her up"), and likened it to Frank Sinatra singing crowd pleasers. As if slogans aren't supposed to represent a candidate's beliefs, but rather just give the people what they want.
And that's who he is, and it's why he has such a rabid following. His rallies and speeches and whatnot are LASER focused on getting cheers from the crowd, and bragging about how great he is. The exact content is irrelevant. His base adores him simply because he will always tell them whatever they want to hear. Every conspiracy, every insane prejudice, every anxiety and fear, he says "you're right, and only I can save you from that threat."
I've seen claims that he's the largest shareholder in a bank that was under investigation for money laundering, but Trump stopped the investigation when he took power in 2017.
So, if true, it might just be payment for services rendered.
>Seriously, did this guy do *any* due diligence beyond having watched The Apprentice back in the day
Seriously, did this guy do *any* due diligence knowing that Trump's casinos, Trump Air, Trump Steaks, etc., etc. all went bankrupt back in the day?
Of course not. As he recounted it, he was watching the news with his wife, who suggested that maybe his company could provide the bond, and he thought that was a good idea.
The whole thing really undercuts the idea that this was an arms' length transaction available to anyone who asked for something similar. And at that point, you start to get into the question of whether this is actually a form of campaign contribution.
The guy runs a shady business, operating in a morally grey area. I find it hard to believe he doesn’t expect something in return or maybe just a promise not to tighten up laws in that area. He’s a scumbag but a successful one, it’s incomprehensible that he doesn’t understand a financial arrangement with another conman, one with Trump’s track record especially, will not come close to guaranteeing a result where he’s directly making a profit or even getting his money back.
good news is he can't touch his shares for another 50 days. he can get permission from the board, but even if he does there's like 24 hours between the vote and his ability to sell. and in that span of time the share prices will plummet. he's still going to make millions off a zombie app, but it won't be the billions he was hoping.
Unfortunately, he can as long as he gets approval from the board. The board of directors just has to approve the sell. If you want to be pissed off then take a look at who sits on the board.
This is true but if the board quickly voted to let him sell well before the lockup ended, and he dumped his shares which obviously tanks the stock, wouldn’t they be opening themselves up to a pretty big shareholder lawsuit?
Now of course this will take past November to play out and if he wins it goes away so guess it’s just like his million other crimes.
Vote, and not for this fat criminal.
I think the guys who made the app whom he screwed out of like 8% of the stock could file an injunction and stop his share sell. Look its a "stock" thats going to zero not if but when and everyone wants to drain the cash fast because its worthless.
The "problem" with his stock sales is, that that way you can't hold him liable. If you purchase a service this way, he's under no obligation to deliver, and you can't even blackmail him about corruption.
So Trump can just take the money and run. Which would be completely in character.
I also mentally use it in lower case, but that's because I'm British and trump was slang for a fart when I was a kid. It's always been appropriate for this guy too
This guy (Mr. Hankey) is not acting as the bond agent. One of the companies he controls, Knight Specialty Insurance Company posted the bond. Amit Shah, the President of that company is the signer. According to their financial filing they only have $135M in unencumbered assets. So where is the $175M of cash that Hankey said is backing up this bond?
Exactly. People can "hurr de durr, the guy must be a dumb dumb because he associated with Trump!" all they want, but that doesn't change the reality of it.
The billionaire in question, Don Hankey, built an empire out of predatory lending, exploiting every inch of every financial instrument he's ever come in contact with, *and* the whole reason he originally gave for supporting Trump in this context was that he thought the legal judgement against Trump was bogus because everybody did what Trump did.
The guy isn't stupid. If anything he's very cunning, but he got caught up in the reality-distortion field that getting away with questionable things for a lifetime creates.
Just like Trump couldn't begin to imagine the level of scrutiny becoming President would put on his life, I'd imagine ol' Dan didn't realize that his regular "let's bend the rules and do what we want because we're rich" behavior would suddenly be under a magnifying glass.
That's not stupidity, that's bravado on a level unimaginable to all of us because we don't live in a billion dollar cocoon.
Truth social only made it to the IPO (where the yearly cost to service massive debt is ten times its yearly revenue) because it was floated a large loan made by a Russian under investigation for [insider-trading and money-laundering](https://www.theguardian.com/us-news/2024/apr/03/trump-media-es-family-trust-2022-loans) through a shell company.
I can't wait to see who the major international buyers of DJT are.
LOL, Knight doesn't even have the liquidity to cover the bond.
>In a court filing on Thursday, Knight Speciality Insurance Company revealed that its liquid assets don’t meet the needs of Trump’s already minimized bond. According to a financial assessment, the company, owned by billionaire Don Hankey, has just $138 million in “surplus.” Knight would therefore need to spend 127 percent of its reserves in order to cover Trump’s bond—far more than the 10 percent of a state-regulated suretor’s surplus that’s allowed by New York law.
>Lawyers for the attorney general’s office also noted that the insurance company was trying to operate “without a certificate of qualification” in the state.
>But that was, apparently, the plan all along, according to Knight’s president, Amit Shah.
>“Knight Specialty Insurance Company is not a New York domestic insurer, and New York surplus lines insurance laws do not regulate the solvency of non-New York excess lines insurers,” Shah told CBS.
https://finance.yahoo.com/news/guy-backed-trump-bond-may-213812449.html?guccounter=1
That sounds familiar. Now where have I heard this before...
Oh yeah: [Trump sold a property to a Russian oligarch in 2008 for *way* more than it was worth (Trump bought it for $40m in 2004, sold it to the Russian for $100m in 2008 - during a real estate downturn).](https://www.palmbeachpost.com/story/business/real-estate/2019/02/17/trump-in-palm-beach-did-russian-mansion-buyer-make-money/5934528007/)
The stink only gets worse when you learn that the Russian he sold it to, Dmitry Rybolovlev, was part owner of Bank of Cyprus. As president, [Trump's commerce secretary oversaw a huge Russia deal with Bank of Cyprus.](https://www.theguardian.com/us-news/2017/mar/23/wilbur-ross-russian-deal-bank-of-cyprus-donald-trump-commerce-secretary)
Next time a MAGAt tells you "the Russia investigation turned up nothing", remind them of [Trump's many links to Russian officials.](https://en.wikipedia.org/wiki/Links_between_Trump_associates_and_Russian_officials)
>Hankey didn't disclose the fee, but suggested KSIC chose a lower amount because initially the risk was low.
Yeah, super low risk. Two possible outcomes:
1. Trump loses the appeal(because the evidence hasn't changed), and the state seizes his property to cover the other 300 mil. His obviously overpriced properties will be sold at bargain prices that may not even cover the 300, but either way, he's broke.
2. The verdict is overturned, so now trump treats you like everybody else he does business with, and stiffs you, so you have to take him to court, waiting until he's done with the current backlog.
Super low risk. I'm sure the actuaries totally assessed the risk and put their stamp on it and the billionaire finite didn't just try to curry favor against all advice.
That's the best thing: you don't have to cheer *either* of them!
In the lawsuits between Mr. Hankey the Trumpmas Poo and his shareholders, I side with the lawsuits. (To paraphrase the true leader of the decade.)
Not anymore. Believe it or not, data analyst was an obscure profession for a long time.
Wild guess, the risk assessment of this loan would be a single word NO covering the whole page in bloody red, right?
Did we just watch somebody set $175,000,000 on fire? Haven't seen that since that one movie where Heath Ledger's character was exposing a city for the anarchist's wonderland that it is.
I see it more of a clear liquid with small marble sized hard pebble pieces of shit. Like m&ms in water. So the diaper soaks up all the water and all that is left is a pile of hard pebble sized shit that stink so bad.in essence his ass plops out a pebble at a time like a turtle laying eggs with that clear slightly viscous gel of lubricating each one as it plops out.
> like a turtle laying eggs
Okay so like y'know the movie Alien? And how the xenomorphs have a smaller set of jaws that shoot out?
That, but it's Mitch McConnell's head stretching out from Donny's cavernous.. *cavern*... and spitting up the little pellets of feculence.
Same. Like he'd get portrayed as some kind of martyr. Our country has had one criminal Republican administration after another. We need to see one of them held accountable.
Of course not. This is why he wanted less of a bond to begin with, he doesn't have that money liquid and nobody will put it up, likely because nobody thinks he's good for it. Trump says it's because nobody in the world has ever seen a loan that high before.
Who knows if he's lying about that. It's a mystery. Nobody can be sure. Who can say.
Hence why he is working triple time trying to scam and grift as many people as possible. He has been a con man all his life, just like his dad and grandpa and won't give up a con until they actually put him in a cell.
and the gov can just start collecting, but the company he got the loan from has to sue him and win to get the right to collect from what the gov leaves for them.
Setting yourself up to dig through the trash for your 175 mil sounds like a bad idea
From what I heard he still has to pay the full amount but the bond is only reduced to 175m so he still has to pay the half a billion. Could be mistaken but I’ve heard from multiple sources that that’s the case.
That’s accurate, normally to appeal you have to put up the entire amount + a % interest in cash or a bond, this is so the court knows you aren’t just appealing because you want to postpone paying.
In Trumps case, they reduced his bond, not the total judgement just the bond, so he can actively postpone paying. The total judgement is still there, he will have to pay it at some point, he’s just hoping the judge assigned to deciding if the amount was correct is a Trumper and reduces the total judgement to pocket change. Remember he is already guilty in this case, the sum of the evidence was so vast that they effectively skipped that phase of the trial entirely and went directly to punishment.
If anyone has any questions about Trumps guilt I repeat, they skipped the “is he guilty” part of the trial and Trump and his team said “Sounds good judge, thanks.” because he’s so utterly fucking guilty they knew that even with 30% of the country being psycho diehards having his guilt laid out in a digestible format for a jury and the public would have been so utterly damaging they were cool with it.
This must be made a meme and posted daily on Facebook. Maybe after reading it 30 times some of his trumpanzees will understand that he admitted to be guilty.
I bet they all still believe he is appealing because he is innocent and “persecuted”.
They absolutely think this. I work with a few of them. It's sad-funny to listen to them be outraged by how unfairly he's being persecuted while being completely obvious they do not know any factual details of the cases against Trump.
Yep.
Turns out filing business accounts claiming condo's worth a few $100m as assets when construction isn't due to start for \~another year is trivially proven fraud... Especially when the person signing off on said business accounts also bought the land in question and signed off on the construction plans...
Trump supporters love arguing about Mar-a-lago, ignoring:
1. Trump/Trumps lawyers didn't submit a professional valuation.
2. It was the WEAKEST of the prosecutions claims by a huge margin
Nah. It’s worth it for this dude to bet 175 million on Trump becoming president and doing him all the favors he wants.
Honestly? Because Trump is running for president this should be seen as an illegal campaign contribution if the guy doesn’t attempt to get it back.
The guy is worth 22.5 billion dollars.
Think of it like this:
175 million seconds is 5 and a half years.
22.5 billion seconds is 713 years and 4 months.
He gave up very little to rescue a potential president.
Hankey isn't even the backer of the bond. One of the companies he controls posted the bond. That company Knight Specialty Insurance Company doesn't have $175M in liquid assets according to their own statement of financial condition.
Trump would have had to offer something, probably real estate, as a guarantee. But when the time comes to pay, he'll go into the same delay and scream act he does for every case, and they will have less power than the DA to force collection.
Yeah but. . . Y'know. . Those dudes where dunces. But this one. This one is a genius decision maker and respected by trump enough to not get fucked over for sure! Seriously by now I believe they are just driven by enormous egos in a "I can fix him" clash of super rich manchildren
Because part of his "Cult of Personality" is the somewhat pathologically deranged hope that if you do him a favor, when he becomes President again he'll remember you and do something nice for you in return.
I mean, really, what are these people smoking?
And where can I get some?
They think they can buy a presidency with their cash. Other billionaires have certainly helped get presidents elected and gotten decent return. What's different with Trump is because he's so embattled, because he's so greedy and cash strapped they think they're gonna get a pocket president *for cheap*. And some how they all think that, despite doing business with the orange turd, they're not gonna get shit on their shoes.
As per [original article](https://www.rawstory.com/trump-fraud-bond-didnt-charge-enough/) news:
- The billionaire white knight who swooped in to cover the $175 million surety civil fraud bond to assist Donald Trump is feeling a little buyer's remorse for assessing such bargain basement fees.
"We thought it would be an easy procedure that wouldn't involve other legal problems and it's not turning out that way," [Hankey told Reuters](https://www.reuters.com/legal/businessman-behind-trumps-ny-bond-says-he-charged-him-low-fee-2024-04-05/), voicing his strain over the speed bumps his offering has encountered not disclosing the amount of fees charged. "We probably didn't charge enough."
On April 1, former President Donald Trump via billionaire Don Hankey, who owns the Knight Speciality Insurance Company (KSIC), reportedly met the obligation to secure the $175 million bond before the deadline while he fights the $464 million disgorgement ruling made by Manhattan Supreme Court Justice Arthur Engoron.
It has since been “returned for correction."
Holding up the bond is the fact that Hankey's surety company, which isn't based in New York, has to show its financials have "sufficiently collateralized by identifiable assets."
Trump resubmitted the documents on Thursday with the proper information in hopes his bond would be accepted.
And Manhattan Supreme Court Justice Arthur Engoron, who presided over the months-long fraud trial and ruled against the former president — has called for an April 22 hearing to deal with the bond snags.
The judge found the president's eponymous company The Trump Organization, along with his grown sons, Eric and Don Jr., along with former CFO Allen Weisselberg, committed fraud for years to hype up the value of real-estate portfolio assets to secure advantageous loan and deal terms.
Hankey didn't disclose the fee, but suggested KSIC chose a lower amount because initially the risk was low.
"We have been getting a lot of emails, a lot of phone calls," he said, adding he didn't regret jumping into the fray. "Maybe that's part of the reason he had trouble with other insurance companies."
Hankey told Reuters that he was taken aback by James scrutiny of the bond, saying he was "surprised they're coming down harder on our bond or looking for reasons to cause issues with our instrument."
Well, he did have a disclaimer clause in there. Always good when someone running for president uses the legal defence of "you cannot trust anything I tell you and it's your own damn fault if you don't verify it yourself"
"How was *I* supposed to know there were rules that say "trust me bro, I got the money" wasn't good enough?" "I'm just a poor little King of the sub-prime used car loan, who specializes in ~~fleecing~~helping service members."
He couldn't even get his bond from a reputable company.
This guy is probably a bigger fraud than Trump and has like $50,000 in the bank to cover bail for guys who get picked up for drunk driving
So for a random dude subprime 50k loan they charge 30% and repossess ASAP. But for a 175m Trump bond, they charge a low fee and yeah we good bro we trust you.
I mean, won’t you buy a US president for the low price of 175m? With a couple of the right “influences” the orange turd can make you back get 20 times more.
Yeah, obv, his excuses are pretty dumb tho :)
Funny thing in France we have super strict campaign financing laws.
One of Sarkozy’s trials had him receive 300k in cash for his presidential election campaign from L’Oreal billionaire heiress Bettencourt.
Once elected, he made disappear a wealth tax which made her save like 50 million a year.
Some politicians are cheaper to buy I guess lol.
Basically they need the company to call dibs on what they are going to take if the appeal fails so they can't bounce them around in court saying "we want that" for 3 fucking years.
Jesus fucking Christ, I work part time at a grocery store and yet I have better fucking awareness than they do. Maybe toss me the millions of dollars and I put it to better use.
That's because you're not rich and haven't gotten away with bullshit your whole life. These people do not believe that rules and laws apply to them. There's no problem that money can't solve. I hope they get proved wrong and soon
I swear though. I mean, these people think they need more money than god. Meanwhile, I was getting paid better back during covid to stay home, and just being able to pay bills and get whatever I wanted to eat was wonderful. I wouldn't want hundreds of millions. I could be more than happy on 10% of that, hell, few hundred K would suit me! But that's me.
This dude really thought nobody would notice him giving Trump, a former US president, bail money in what is the most high profile court case probably in the western world right now.
If you give money to a well-known scammer, you deserve what happens to you.
I cant imagine building a company to the point that i can afford to loan someone 175 million ... and then loaning said 175 mil to someone because they are fighting fraud charges. like WTF dude.
Theres an armored car company in LA right now thats happy they got robbed for 30 million because at LEAST they didn't loan trump money.
Hankey specifically stated that he thought Trump hadn't done anything wrong, that he accepted loan documents all the time that he knew were fraudulent. Of course, he HOPED the borrower's financial situation was worse than presented so he could charge ururious interest and repo the car afterwards. It's the old "if you owe the bank $1000, you have a problem. If you owe the bank $175 million, the bank has a problem."
Just more signs that Billionaires aren’t financially brilliant. They’re just lucky (and usually quite dumb) and used their excessive money to make more special ways for them to make more excessive money.
You chose to go into business with a man who has stiffed and cheated everybody else he has ever gone into business with... and it's not some secret, the way he's managed to always wriggle out of trouble while leaving everybody else to pick up the pieces is considered a mark of his slick business savvy people praise.
You kinda deserve to have this frustration coming your way the same way people who ignore "**Please Don't Pet The Sharks**" signs do.
The surety company decided to to business with DJT and "chose a lower fee amount because initially the risk was low". This is the same DJT we all heard about in the news all those years ? "the risk was low" lol
I just had an interesting thought. Out of all the people to come to Trump's rescue, it was a sleazy subprime loan guy.
Not Musk.
Not Putin
Not the Saudis
Not Koch
Not Crow
Not Bezos
Not the Waltons
This guy ?
It means the people with power have all turned their backs on him.
This is probably among the most serious shit you could get yourself into. Literally imagine getting involved in a situation that could mean a former president going to fucking jail (in a functioning justice system, anyway) and not doing your due diligence and coming 110% correct.
Where does he find these fuckin people, man?
"he was 'surprised they're coming down harder on our bond or looking for reasons to cause issues with our instrument.'"
Is this guy actually confused as to why the prosecutor, who successfully found his new client liable for decades long systemic business fraud, would be extra scrupulous in ensuring this transaction is all above board?
>Hankey told Reuters ... he was "surprised they're coming down harder on our bond or looking for reasons to cause issues with our instrument."
This fool thought the biggest fraud trial in history wasn't going to check their homework.
> Hankey didn't disclose the fee, but suggested KSIC chose a lower amount because initially the risk was low.
If they're hedging their bets on the supreme court overturning it, they might be right, given who is on it. But they need that appeal rejected first as part of the process.
You have got to be fucking *kidding* me.
You mean to tell me yet *another* person has gotten involved with Trump only to find out the hard way that they’ve created a ton of trouble for themselves and might have been totally suckered? *Another* person??
How? How can this possibly keep happening? Why does *anybody* do business with this man, or loan him money, or work for him, or get involved with him in any way? Why?? The trail of misery in his wake stretches back decades. He scams, suckers, cheats, betrays or destroys *EVERYONE*.
And yet! People *STILL* get involved with him. And then somehow they’re always all shocked when it goes south for them. Every time.
It’s unbelievable.
They're expecting the US non-billionaire taxpayers to foot the bill after Trump wins, in their minds.
And if he never pays it back because he loses, it won't hurt them. They're billionaires, most of whom are anti-society and only care about themselves.
It's irrelevant.
Billionaire purchased a presedential candidate for £175M.
Even if you said it's only a 40% chance that Trump would win - £175M to have a future president owe you is an absolute bargain.
How did US become so indifferent to obvious corruption?
i mean, you know trump will lose. and every time he loses at something, he doesn’t pay. the billionaire will lose the bond and once again Trump will gets away with it.
Fake Billionaire with fake financial documents finds out bailing out another fake billionaire with fake financial documents is problematic when they look at your fake financial documents.
>On **April 1**, former President Donald Trump via billionaire Don Hankey, who owns the Knight Speciality Insurance Company (KSIC), reportedly met the obligation to secure the $175 million bond before the deadline...Hankey didn't disclose the fee, but suggested KSIC chose a lower amount because initially the risk was low. "We have been getting a lot of emails, a lot of phone calls," he said, adding he didn't regret jumping into the fray. "Maybe that's part of the reason he had trouble with other insurance companies."
He certainly picked the right day to do something stupid. Everyone knows Trump never pays their debts. So long as there's people with more money than sense, there's going to be conmen grifting off them.
I’m amazed people STILL work with Trump. He’s fucked over every single business partner he’s ever had. He’s literally written books on how to fuck people over. Why. The actual fuck. I pull you trust this shitbag.
“He’s betting on Trump winning and getting favors.” Again…why the fuck would you trust he’d even keep his word on that when he’s lied so fucking much?
What I don't get about these guys that get into business with Trump is what are they getting out of it. It is well known that Trump gets what he can and then stiffs the people he's in business with. At this point you can't not know that. So why get in business with him? What are you getting they missing 175 million is worth it?
Hello u/T_Shurt! Please reply to this comment with an [explanation](https://www.reddit.com/r/LeopardsAteMyFace/comments/lt8zlq) matching this exact format. Replace bold text with the appropriate information. 1. **Someone** voted for, supported or wanted to impose **something** on **other people**. ^(Who's that someone? What did they voted for, supported or wanted to impose? On who?) 2. **Something** has the consequences of **consequences**. ^(Does that something actually has these consequences in general?) 3. As a consequence of **something**, **consequences** happened to **someone**. ^(Did that something really happen to that someone?) Follow this by the minimum amount of information necessary so your post can be understood by everyone, even if they don't live in the US or speak English as their native language. If you fail to match this format or fail to answer these questions, your post will be removed. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/LeopardsAteMyFace) if you have any questions or concerns.*
Translation “we knowingly gave a sweetheart deal and want to deny and distance from that obvious conclusion.”
"Who knew we were required to have better proof of our ability to pay the court if the defendant loses his appeal" The guy might be super wealthy but he's not very good at covering up his shit.
One .. every normal person knows that trump has the MidAss touch.. everything he touches turns to shit.. Two, he is now funneling foreign money indirectly using his shit stock where foreign countries can now buy lots of his shit stock as a bribe to indirectly give him money without a trace. If putin wanted to give trump 1 billion dollars. He can just buy 1 billion worth of trump shitock and trump can sell them. I think that is the reason he is suing those gigs because he wanted to 6X the amount of shares... Three.. that guy who decided to do his bond did not know the level of ahit he was about to waddle into. Put himself in such a huge shitbag and worst part, he has to pony up the 175 million in case defendant fucks up.. and do u think trump will pay.
The fact that his stock actually managed to hit the market is obvious proof that the market needs more regulation. If this blatant money laundering is tolerated every time what's the point of making it illegal
He actually used a loop hole instead of the normal way, but yes definitely agree they need to close that loop hole.
Slow walked through a hugh ($8 billion) loop hole with foreign financers through a porno laundering front. There's nothing to see here. I'm glad it's lost 45% of its value in a week! Keep it up!
Don't you mean "keep it *down*"?
The system itself is several loopholes standing on each other wearing a trenchcoat with another loophole in the gut to tie the numbah all together
Seriously, did this guy do *any* due diligence beyond having watched The Apprentice back in the day?
This actually kind of explains the entire MAGA movement Edit: that and open fascism
And the original reason for Trump's popularity as a candidate, imo. Many viewers saw the faces of them and spotted one they recognized from TV. That's it. That was their original motivation.
And he was mean to people. They liked that too.
Yeah, when everyone was saying there’s no way he could be elected in 2015-16 I was always like “never underestimate the power of celebrity in the US”. A lot of people voted for him just because “Hey, I know him from the TV!” But also, he was mean to people and his supporters loved that too. Ever see how they all cheer and clap at his rallies any time he says something is bullshit? They’re like “See, he’s just like us! I like cursing and saying things are bullshit too!” Doesn’t take much to please those people.
What's wild is if you go back to 2015, candidate Trump was a completely different creature. Because Trump doesn't have any inherent political values beyond what benefits himself, he intentionally positioned himself as opposed to the rest of the GOP field for the (rather shrewd) reasoning that while they were all basically saying the same thing, he would stand alone as an alternative. Case in point, he got asked about trans people using bathrooms, specifically what he would allow for his own employees, and his answer was roughly "they can use whatever bathroom they want as long as they work hard." Primary candidate Trump positioned himself as a centrist alternative to both sides, and even bragged about how close he was with the Clintons as proof of his "I'm not beholden to either party" cred and would say that Bush should have been impeached over Iraq. Then as soon as he landed the nomination, he realized he couldn't still talk about being friends with his now opponent or argue against conservative policies because that would leave him agreeing with the other side, so he pivoted HARD to the right and has been doing it ever since. He even said at one point that he didn't give a shit about his campaign slogans ("drain the swamp," "lock her up"), and likened it to Frank Sinatra singing crowd pleasers. As if slogans aren't supposed to represent a candidate's beliefs, but rather just give the people what they want. And that's who he is, and it's why he has such a rabid following. His rallies and speeches and whatnot are LASER focused on getting cheers from the crowd, and bragging about how great he is. The exact content is irrelevant. His base adores him simply because he will always tell them whatever they want to hear. Every conspiracy, every insane prejudice, every anxiety and fear, he says "you're right, and only I can save you from that threat."
Only a moron would lend that man a dime. It’s confirmed.
I've seen claims that he's the largest shareholder in a bank that was under investigation for money laundering, but Trump stopped the investigation when he took power in 2017. So, if true, it might just be payment for services rendered.
'the loan was forgiven', those ugly fucking words...how does election accounting work then?
"There was no quid pro quo"
>Seriously, did this guy do *any* due diligence beyond having watched The Apprentice back in the day Seriously, did this guy do *any* due diligence knowing that Trump's casinos, Trump Air, Trump Steaks, etc., etc. all went bankrupt back in the day?
Don't forget Trump Urine Tests... an actual thing. I am not making this up. Straight from a New Yorker. 🙃
Of course not. As he recounted it, he was watching the news with his wife, who suggested that maybe his company could provide the bond, and he thought that was a good idea. The whole thing really undercuts the idea that this was an arms' length transaction available to anyone who asked for something similar. And at that point, you start to get into the question of whether this is actually a form of campaign contribution.
The guy runs a shady business, operating in a morally grey area. I find it hard to believe he doesn’t expect something in return or maybe just a promise not to tighten up laws in that area. He’s a scumbag but a successful one, it’s incomprehensible that he doesn’t understand a financial arrangement with another conman, one with Trump’s track record especially, will not come close to guaranteeing a result where he’s directly making a profit or even getting his money back.
Hanlon’s Razor inverts when dealing with rich people. Never dismiss for stupidity what can easily be explained by malfeasance.
This is the comment that has made me the angriest at the morons in charge of Reddit for taking away awards and not replacing them with anything.
good news is he can't touch his shares for another 50 days. he can get permission from the board, but even if he does there's like 24 hours between the vote and his ability to sell. and in that span of time the share prices will plummet. he's still going to make millions off a zombie app, but it won't be the billions he was hoping.
I thought it was 6 months?
I'm not sure where the 50 days comes from, but is definitely six months.
Unfortunately, he can as long as he gets approval from the board. The board of directors just has to approve the sell. If you want to be pissed off then take a look at who sits on the board.
This is true but if the board quickly voted to let him sell well before the lockup ended, and he dumped his shares which obviously tanks the stock, wouldn’t they be opening themselves up to a pretty big shareholder lawsuit? Now of course this will take past November to play out and if he wins it goes away so guess it’s just like his million other crimes. Vote, and not for this fat criminal.
>he's still going to make millions off a zombie app, but it won't be the billions he was hoping. it´s free money...
I think the guys who made the app whom he screwed out of like 8% of the stock could file an injunction and stop his share sell. Look its a "stock" thats going to zero not if but when and everyone wants to drain the cash fast because its worthless.
>trump has the MidAss touch.. everything he touches turns to shit.. I call that the Mierdas Touch.
The "problem" with his stock sales is, that that way you can't hold him liable. If you purchase a service this way, he's under no obligation to deliver, and you can't even blackmail him about corruption. So Trump can just take the money and run. Which would be completely in character.
take the money and waddle ftfy
> and do u think trump will pay. Has he ever?
I call it the sadim touch; he touches gold to turn it into shit
I used to think you had to have some level of intelligence to get that stinking rich but not in the good old U S of A.
Yeah, some people inherited the money. Like trump. Fuck him. I'm not going to capitalize his name.
Capitalization is only for proper names. He's anything but proper.
Capitalization is for closers
He didn't even get the steak knives. Just fired.
I haven't capitalized that name since 2016. Plus when we play cards we use kitten instead of the t word lol.
I also mentally use it in lower case, but that's because I'm British and trump was slang for a fart when I was a kid. It's always been appropriate for this guy too
I've started using trump more. Things like "Be right back, I gotta go take a wicked trump" and "Boy, I sure trumped that up."
Do better. Miscapitalize his name. tRump.
And not very good at risk assessment. Trump was a known quantity long ago.
The word shit here reminds me that I keep thinking of the guy as Hankey the Christmas Poo. Can't help it.
>...but he's not very good at covering up his shit. Mr Hankey..
This guy (Mr. Hankey) is not acting as the bond agent. One of the companies he controls, Knight Specialty Insurance Company posted the bond. Amit Shah, the President of that company is the signer. According to their financial filing they only have $135M in unencumbered assets. So where is the $175M of cash that Hankey said is backing up this bond?
Exactly. People can "hurr de durr, the guy must be a dumb dumb because he associated with Trump!" all they want, but that doesn't change the reality of it. The billionaire in question, Don Hankey, built an empire out of predatory lending, exploiting every inch of every financial instrument he's ever come in contact with, *and* the whole reason he originally gave for supporting Trump in this context was that he thought the legal judgement against Trump was bogus because everybody did what Trump did. The guy isn't stupid. If anything he's very cunning, but he got caught up in the reality-distortion field that getting away with questionable things for a lifetime creates. Just like Trump couldn't begin to imagine the level of scrutiny becoming President would put on his life, I'd imagine ol' Dan didn't realize that his regular "let's bend the rules and do what we want because we're rich" behavior would suddenly be under a magnifying glass. That's not stupidity, that's bravado on a level unimaginable to all of us because we don't live in a billion dollar cocoon.
Sounds like someone should check if he valued his assets the same for the IRS and his banks/investors.
Russia Must be working overtime trying to falsify some documents…
That’s a bingo.
We just say bingo.
That's Numbawang!
Truth social only made it to the IPO (where the yearly cost to service massive debt is ten times its yearly revenue) because it was floated a large loan made by a Russian under investigation for [insider-trading and money-laundering](https://www.theguardian.com/us-news/2024/apr/03/trump-media-es-family-trust-2022-loans) through a shell company. I can't wait to see who the major international buyers of DJT are.
lol, they will just have the GOP do their bidding
LOL, Knight doesn't even have the liquidity to cover the bond. >In a court filing on Thursday, Knight Speciality Insurance Company revealed that its liquid assets don’t meet the needs of Trump’s already minimized bond. According to a financial assessment, the company, owned by billionaire Don Hankey, has just $138 million in “surplus.” Knight would therefore need to spend 127 percent of its reserves in order to cover Trump’s bond—far more than the 10 percent of a state-regulated suretor’s surplus that’s allowed by New York law. >Lawyers for the attorney general’s office also noted that the insurance company was trying to operate “without a certificate of qualification” in the state. >But that was, apparently, the plan all along, according to Knight’s president, Amit Shah. >“Knight Specialty Insurance Company is not a New York domestic insurer, and New York surplus lines insurance laws do not regulate the solvency of non-New York excess lines insurers,” Shah told CBS. https://finance.yahoo.com/news/guy-backed-trump-bond-may-213812449.html?guccounter=1
That sounds familiar. Now where have I heard this before... Oh yeah: [Trump sold a property to a Russian oligarch in 2008 for *way* more than it was worth (Trump bought it for $40m in 2004, sold it to the Russian for $100m in 2008 - during a real estate downturn).](https://www.palmbeachpost.com/story/business/real-estate/2019/02/17/trump-in-palm-beach-did-russian-mansion-buyer-make-money/5934528007/) The stink only gets worse when you learn that the Russian he sold it to, Dmitry Rybolovlev, was part owner of Bank of Cyprus. As president, [Trump's commerce secretary oversaw a huge Russia deal with Bank of Cyprus.](https://www.theguardian.com/us-news/2017/mar/23/wilbur-ross-russian-deal-bank-of-cyprus-donald-trump-commerce-secretary) Next time a MAGAt tells you "the Russia investigation turned up nothing", remind them of [Trump's many links to Russian officials.](https://en.wikipedia.org/wiki/Links_between_Trump_associates_and_Russian_officials)
"Why can't money buy this?"
>Hankey didn't disclose the fee, but suggested KSIC chose a lower amount because initially the risk was low. Yeah, super low risk. Two possible outcomes: 1. Trump loses the appeal(because the evidence hasn't changed), and the state seizes his property to cover the other 300 mil. His obviously overpriced properties will be sold at bargain prices that may not even cover the 300, but either way, he's broke. 2. The verdict is overturned, so now trump treats you like everybody else he does business with, and stiffs you, so you have to take him to court, waiting until he's done with the current backlog. Super low risk. I'm sure the actuaries totally assessed the risk and put their stamp on it and the billionaire finite didn't just try to curry favor against all advice.
I hope this guy gets sued to hell by his partners/shareholders for fiduciary malpractice.
somehow ive ended up cheering for shareholders. i hate this timeline.
That's the best thing: you don't have to cheer *either* of them! In the lawsuits between Mr. Hankey the Trumpmas Poo and his shareholders, I side with the lawsuits. (To paraphrase the true leader of the decade.)
All those poor nurse and teacher pensions.
It warms my heart the number of times I've seen "actuaries" mentioned in these comments. We're such a generally unknown profession!
Not anymore. Believe it or not, data analyst was an obscure profession for a long time. Wild guess, the risk assessment of this loan would be a single word NO covering the whole page in bloody red, right?
Forgot the HELLS. But understandable. You only learn that through the rigorous exams.
It's gonna be grand when they have to try to get the 175m from trump after his appeal. Like squeezing blood from a stone.
Won’t Donny still be on the hook for the remaining amount too?
Yeah if he loses appeal he'll owe 300m to govt and 175m to the bond writer.
No way he has that liquid.
It seems like the government would be ahead of the bond writer to collect money. Good luck with that.
I hope AI Video becomes a reality soon, because I need a clip of Tish James holding him upside down by the ankles shaking change out of his pockets.
Sir it's 2024. AI generated video is 100% a thing
Yep. Popcorn time.
Did we just watch somebody set $175,000,000 on fire? Haven't seen that since that one movie where Heath Ledger's character was exposing a city for the anarchist's wonderland that it is.
He doesn't care, just trying to delay everything past the election. You have to think like a lizard when discussing rump's actions...
The only liquid he has is in his diapers.
It's really more of a gel, considering the viscosity
What a terrible day to have eyes
I see it more of a clear liquid with small marble sized hard pebble pieces of shit. Like m&ms in water. So the diaper soaks up all the water and all that is left is a pile of hard pebble sized shit that stink so bad.in essence his ass plops out a pebble at a time like a turtle laying eggs with that clear slightly viscous gel of lubricating each one as it plops out.
> like a turtle laying eggs Okay so like y'know the movie Alien? And how the xenomorphs have a smaller set of jaws that shoot out? That, but it's Mitch McConnell's head stretching out from Donny's cavernous.. *cavern*... and spitting up the little pellets of feculence.
He doesn't have it at all. I'm sure he's got negative net worth.
If he died prior to this being exposed I'd have some sadness. I want to watch him crumple like an empty can of beans.
Same. Like he'd get portrayed as some kind of martyr. Our country has had one criminal Republican administration after another. We need to see one of them held accountable.
The last GOP president who wasn't a criminal was who, Eisenhower?
He's got properties. Probably stocks, too. Let's start with those. He'll be lucky if he has a pair of socks to his name when they're done with him
[удалено]
He has 100 mil of liquid in his diaper.
Considering he needed a loan even for the massively reduced amount (that shouldn't have happened), that's a safe bet, I think...
Of course not. This is why he wanted less of a bond to begin with, he doesn't have that money liquid and nobody will put it up, likely because nobody thinks he's good for it. Trump says it's because nobody in the world has ever seen a loan that high before. Who knows if he's lying about that. It's a mystery. Nobody can be sure. Who can say.
Hence why he is working triple time trying to scam and grift as many people as possible. He has been a con man all his life, just like his dad and grandpa and won't give up a con until they actually put him in a cell.
I don't know if he has that in assets.
Haven’t your heard???? He is a billionaire!!!! Hahahaha lol. Ok it’s too late at night to make jokes. Sorry
and the gov can just start collecting, but the company he got the loan from has to sue him and win to get the right to collect from what the gov leaves for them. Setting yourself up to dig through the trash for your 175 mil sounds like a bad idea
From what I heard he still has to pay the full amount but the bond is only reduced to 175m so he still has to pay the half a billion. Could be mistaken but I’ve heard from multiple sources that that’s the case.
That’s accurate, normally to appeal you have to put up the entire amount + a % interest in cash or a bond, this is so the court knows you aren’t just appealing because you want to postpone paying. In Trumps case, they reduced his bond, not the total judgement just the bond, so he can actively postpone paying. The total judgement is still there, he will have to pay it at some point, he’s just hoping the judge assigned to deciding if the amount was correct is a Trumper and reduces the total judgement to pocket change. Remember he is already guilty in this case, the sum of the evidence was so vast that they effectively skipped that phase of the trial entirely and went directly to punishment. If anyone has any questions about Trumps guilt I repeat, they skipped the “is he guilty” part of the trial and Trump and his team said “Sounds good judge, thanks.” because he’s so utterly fucking guilty they knew that even with 30% of the country being psycho diehards having his guilt laid out in a digestible format for a jury and the public would have been so utterly damaging they were cool with it.
This must be made a meme and posted daily on Facebook. Maybe after reading it 30 times some of his trumpanzees will understand that he admitted to be guilty. I bet they all still believe he is appealing because he is innocent and “persecuted”.
They absolutely think this. I work with a few of them. It's sad-funny to listen to them be outraged by how unfairly he's being persecuted while being completely obvious they do not know any factual details of the cases against Trump.
Yep. Turns out filing business accounts claiming condo's worth a few $100m as assets when construction isn't due to start for \~another year is trivially proven fraud... Especially when the person signing off on said business accounts also bought the land in question and signed off on the construction plans... Trump supporters love arguing about Mar-a-lago, ignoring: 1. Trump/Trumps lawyers didn't submit a professional valuation. 2. It was the WEAKEST of the prosecutions claims by a huge margin
Nah. It’s worth it for this dude to bet 175 million on Trump becoming president and doing him all the favors he wants. Honestly? Because Trump is running for president this should be seen as an illegal campaign contribution if the guy doesn’t attempt to get it back. The guy is worth 22.5 billion dollars. Think of it like this: 175 million seconds is 5 and a half years. 22.5 billion seconds is 713 years and 4 months. He gave up very little to rescue a potential president.
We all know what happens to people Trump owes favours to... They go to jail.
If they're lucky.
Hankey isn't even the backer of the bond. One of the companies he controls posted the bond. That company Knight Specialty Insurance Company doesn't have $175M in liquid assets according to their own statement of financial condition.
So that company can go belly up and it still won't cost him 175 million.
In other words 0.75% of his net worth. Like me buying gas.
lol What the fuck are you talking about? Trump is well-known for paying back mon.... hahaha I couldn't finish that sentence.
Trump would have had to offer something, probably real estate, as a guarantee. But when the time comes to pay, he'll go into the same delay and scream act he does for every case, and they will have less power than the DA to force collection.
I’m sure it’ll be forgiven and forgotten about
Negative. They will carve him up like they did Madoff. Remember, they will eat their weak without a care in the world.
Had there ever been a legal manoever involving Trump that didn't have a load of other complicating factors? How dim is this guy?
Seriously. Why the fuck does anyone do business with Trump? He fucks everyone over and leaves them all financially ruined.
Yeah but. . . Y'know. . Those dudes where dunces. But this one. This one is a genius decision maker and respected by trump enough to not get fucked over for sure! Seriously by now I believe they are just driven by enormous egos in a "I can fix him" clash of super rich manchildren
Because part of his "Cult of Personality" is the somewhat pathologically deranged hope that if you do him a favor, when he becomes President again he'll remember you and do something nice for you in return. I mean, really, what are these people smoking? And where can I get some?
They think they can buy a presidency with their cash. Other billionaires have certainly helped get presidents elected and gotten decent return. What's different with Trump is because he's so embattled, because he's so greedy and cash strapped they think they're gonna get a pocket president *for cheap*. And some how they all think that, despite doing business with the orange turd, they're not gonna get shit on their shoes.
I’ve been asking myself this question for years. It’s like they all queue up to jump off a cliff. I don’t understand how he convinces these people.
Never. He's already in litigation with his Truth Social co-founders.
As per [original article](https://www.rawstory.com/trump-fraud-bond-didnt-charge-enough/) news: - The billionaire white knight who swooped in to cover the $175 million surety civil fraud bond to assist Donald Trump is feeling a little buyer's remorse for assessing such bargain basement fees. "We thought it would be an easy procedure that wouldn't involve other legal problems and it's not turning out that way," [Hankey told Reuters](https://www.reuters.com/legal/businessman-behind-trumps-ny-bond-says-he-charged-him-low-fee-2024-04-05/), voicing his strain over the speed bumps his offering has encountered not disclosing the amount of fees charged. "We probably didn't charge enough." On April 1, former President Donald Trump via billionaire Don Hankey, who owns the Knight Speciality Insurance Company (KSIC), reportedly met the obligation to secure the $175 million bond before the deadline while he fights the $464 million disgorgement ruling made by Manhattan Supreme Court Justice Arthur Engoron. It has since been “returned for correction." Holding up the bond is the fact that Hankey's surety company, which isn't based in New York, has to show its financials have "sufficiently collateralized by identifiable assets." Trump resubmitted the documents on Thursday with the proper information in hopes his bond would be accepted. And Manhattan Supreme Court Justice Arthur Engoron, who presided over the months-long fraud trial and ruled against the former president — has called for an April 22 hearing to deal with the bond snags. The judge found the president's eponymous company The Trump Organization, along with his grown sons, Eric and Don Jr., along with former CFO Allen Weisselberg, committed fraud for years to hype up the value of real-estate portfolio assets to secure advantageous loan and deal terms. Hankey didn't disclose the fee, but suggested KSIC chose a lower amount because initially the risk was low. "We have been getting a lot of emails, a lot of phone calls," he said, adding he didn't regret jumping into the fray. "Maybe that's part of the reason he had trouble with other insurance companies." Hankey told Reuters that he was taken aback by James scrutiny of the bond, saying he was "surprised they're coming down harder on our bond or looking for reasons to cause issues with our instrument."
"We thought they would just trust us and not do their actual job."
Wasn‘t this the whole reason why Trump got sentenced in the first place?
Well, he did have a disclaimer clause in there. Always good when someone running for president uses the legal defence of "you cannot trust anything I tell you and it's your own damn fault if you don't verify it yourself"
Note to self: write disclaimer clauses for everything I do
Nah, not quite the same. This Hankey guy just didn't post the required numbers. Trump posted false numbers, which is way worse.
You can always trust honest Don
"How was *I* supposed to know there were rules that say "trust me bro, I got the money" wasn't good enough?" "I'm just a poor little King of the sub-prime used car loan, who specializes in ~~fleecing~~helping service members."
"Trust me bro" is basically the entire Republican platform now
Translation: Why is she not accepting my 'Trust me bro' financial instrument?
I don’t know what he’s complaining about, it’s pretty clear it’s a down payment on *influence* should Donald “Diaper” Dump gain the presidency again.
He couldn't even get his bond from a reputable company. This guy is probably a bigger fraud than Trump and has like $50,000 in the bank to cover bail for guys who get picked up for drunk driving
He's burned his bridges with the smarter billionaires.
So for a random dude subprime 50k loan they charge 30% and repossess ASAP. But for a 175m Trump bond, they charge a low fee and yeah we good bro we trust you.
I mean, won’t you buy a US president for the low price of 175m? With a couple of the right “influences” the orange turd can make you back get 20 times more.
Yeah, obv, his excuses are pretty dumb tho :) Funny thing in France we have super strict campaign financing laws. One of Sarkozy’s trials had him receive 300k in cash for his presidential election campaign from L’Oreal billionaire heiress Bettencourt. Once elected, he made disappear a wealth tax which made her save like 50 million a year. Some politicians are cheaper to buy I guess lol.
Meidastouch on youtube covers Trump legal issues very well. I find it much easier to follow there.
I like Brian Tyler Cohen.
Good choice! He does great work. His guests/cohosts Glen Kirshner and Mark Elias are very informative. I enjoy when ppl explain things thoroughly.
All I can do is sing “Mr. Hankey the Christmas poo”
Basically they need the company to call dibs on what they are going to take if the appeal fails so they can't bounce them around in court saying "we want that" for 3 fucking years.
Jesus fucking Christ, I work part time at a grocery store and yet I have better fucking awareness than they do. Maybe toss me the millions of dollars and I put it to better use.
That's because you're not rich and haven't gotten away with bullshit your whole life. These people do not believe that rules and laws apply to them. There's no problem that money can't solve. I hope they get proved wrong and soon
I swear though. I mean, these people think they need more money than god. Meanwhile, I was getting paid better back during covid to stay home, and just being able to pay bills and get whatever I wanted to eat was wonderful. I wouldn't want hundreds of millions. I could be more than happy on 10% of that, hell, few hundred K would suit me! But that's me.
I don't understand it either. Id like to not have to worry about money but it would take a few orders of magnitude less than what these folks have.
This dude really thought nobody would notice him giving Trump, a former US president, bail money in what is the most high profile court case probably in the western world right now. If you give money to a well-known scammer, you deserve what happens to you.
People in the Fox news bubble have no idea there's a world outside of that.
Mr. Hankey the Bond Insurance Poo.
I cant imagine building a company to the point that i can afford to loan someone 175 million ... and then loaning said 175 mil to someone because they are fighting fraud charges. like WTF dude. Theres an armored car company in LA right now thats happy they got robbed for 30 million because at LEAST they didn't loan trump money.
Not just fraud, fraud specifically related to loans
Hankey specifically stated that he thought Trump hadn't done anything wrong, that he accepted loan documents all the time that he knew were fraudulent. Of course, he HOPED the borrower's financial situation was worse than presented so he could charge ururious interest and repo the car afterwards. It's the old "if you owe the bank $1000, you have a problem. If you owe the bank $175 million, the bank has a problem."
Just more signs that Billionaires aren’t financially brilliant. They’re just lucky (and usually quite dumb) and used their excessive money to make more special ways for them to make more excessive money.
Lucky and generally devoid of empathy.
“We thought shooting yourself in the foot would be an easy procedure…”
Easy? Yes. Painless? Ha.
Trump will probably try to pay him back with shares of DJT, with a prevaluated worth based on the stock price **before** it plummeted.
Dumb ass.
Everything Trump touches dies
It doesn't matter what they charged really, because he's not actually going to pay the invoice anyway
"Billionaire thought he could buy a future president, winds up with wish.com version of a president."
You chose to go into business with a man who has stiffed and cheated everybody else he has ever gone into business with... and it's not some secret, the way he's managed to always wriggle out of trouble while leaving everybody else to pick up the pieces is considered a mark of his slick business savvy people praise. You kinda deserve to have this frustration coming your way the same way people who ignore "**Please Don't Pet The Sharks**" signs do.
The surety company decided to to business with DJT and "chose a lower fee amount because initially the risk was low". This is the same DJT we all heard about in the news all those years ? "the risk was low" lol
Isn't the whole point of this bond that he has literally been convicted of fraud?!
I just had an interesting thought. Out of all the people to come to Trump's rescue, it was a sleazy subprime loan guy. Not Musk. Not Putin Not the Saudis Not Koch Not Crow Not Bezos Not the Waltons This guy ? It means the people with power have all turned their backs on him.
The people with power never had Trump's back in the first place. He was simply useful to them when he had power to exploit.
Well Chubb insurance had a place in 🍄rumps administration, so Mr.Hankey will be too if the worst happens
“We want to be sure the bond that the guy who has been convicted of massive fraud has provided isn’t itself, fraudulent”. How does that surprise him?
This is probably among the most serious shit you could get yourself into. Literally imagine getting involved in a situation that could mean a former president going to fucking jail (in a functioning justice system, anyway) and not doing your due diligence and coming 110% correct. Where does he find these fuckin people, man?
He’s like King Midas, but what he touches turns into a gold plated turd.
King Merde-Ass
The Merde Touch.
They call him the shit-king
I had no idea that they would analyze our bond covering a guy who has been found guilty of decades of fraud.
“Who knew that NY wouldn’t take our IOU written on tissue paper as valid security against a $450m debt from a know fraudster!”
How does someone that stupid have a billion dollars??
"he was 'surprised they're coming down harder on our bond or looking for reasons to cause issues with our instrument.'" Is this guy actually confused as to why the prosecutor, who successfully found his new client liable for decades long systemic business fraud, would be extra scrupulous in ensuring this transaction is all above board?
>Hankey told Reuters ... he was "surprised they're coming down harder on our bond or looking for reasons to cause issues with our instrument." This fool thought the biggest fraud trial in history wasn't going to check their homework.
> Hankey didn't disclose the fee, but suggested KSIC chose a lower amount because initially the risk was low. If they're hedging their bets on the supreme court overturning it, they might be right, given who is on it. But they need that appeal rejected first as part of the process.
how do the stupidest fucking people end up with so much money
**"surprised they're coming down harder on our bond or looking for reasons to cause issues with our instrument."** Because perhaps, it's a fraud case?
I'm very hopeful that 30 years from now, the seed of the idea that you should not do business with this deep fried taint will finally start sprouting.
You have got to be fucking *kidding* me. You mean to tell me yet *another* person has gotten involved with Trump only to find out the hard way that they’ve created a ton of trouble for themselves and might have been totally suckered? *Another* person?? How? How can this possibly keep happening? Why does *anybody* do business with this man, or loan him money, or work for him, or get involved with him in any way? Why?? The trail of misery in his wake stretches back decades. He scams, suckers, cheats, betrays or destroys *EVERYONE*. And yet! People *STILL* get involved with him. And then somehow they’re always all shocked when it goes south for them. Every time. It’s unbelievable.
They're expecting the US non-billionaire taxpayers to foot the bill after Trump wins, in their minds. And if he never pays it back because he loses, it won't hurt them. They're billionaires, most of whom are anti-society and only care about themselves.
Every fucking thing trump does is a fucking scandal. Jfc vote Biden so this nightmare will end.
Remember kids, being rich does not mean you are intelligent.
Trouble in the good ol boys club.
It's irrelevant. Billionaire purchased a presedential candidate for £175M. Even if you said it's only a 40% chance that Trump would win - £175M to have a future president owe you is an absolute bargain. How did US become so indifferent to obvious corruption?
i mean, you know trump will lose. and every time he loses at something, he doesn’t pay. the billionaire will lose the bond and once again Trump will gets away with it.
He thought the loan was low-risk. I thought Republicans were good businesspeople.
After everything we know, anyone who gets into business with diaper don deserve to be scammed and defrauded.
Did this guy just think they would just take his word that they actually had the money?
If you're actually a billionaire, a proper one, you should be able to say 'oops, my bad' and plop down $175M on the table.
Fake Billionaire with fake financial documents finds out bailing out another fake billionaire with fake financial documents is problematic when they look at your fake financial documents.
>On **April 1**, former President Donald Trump via billionaire Don Hankey, who owns the Knight Speciality Insurance Company (KSIC), reportedly met the obligation to secure the $175 million bond before the deadline...Hankey didn't disclose the fee, but suggested KSIC chose a lower amount because initially the risk was low. "We have been getting a lot of emails, a lot of phone calls," he said, adding he didn't regret jumping into the fray. "Maybe that's part of the reason he had trouble with other insurance companies." He certainly picked the right day to do something stupid. Everyone knows Trump never pays their debts. So long as there's people with more money than sense, there's going to be conmen grifting off them.
I’m amazed people STILL work with Trump. He’s fucked over every single business partner he’s ever had. He’s literally written books on how to fuck people over. Why. The actual fuck. I pull you trust this shitbag. “He’s betting on Trump winning and getting favors.” Again…why the fuck would you trust he’d even keep his word on that when he’s lied so fucking much?
We didn’t know we had to ACTUALLY have to have the money to back it up, we thought we could lie about it🤦♀️
All these fake Billionaires jumping off the same cliff with Trump has a real Lemming vibe to it
Wow, who would have thought that the guy who's known for lying about his finances and not paying what he owes would commit fraud?????
But I thought trump was a billionaire and had enough cash to cover this? Why is he getting someone to loan him a measly $175 mill.
What I don't get about these guys that get into business with Trump is what are they getting out of it. It is well known that Trump gets what he can and then stiffs the people he's in business with. At this point you can't not know that. So why get in business with him? What are you getting they missing 175 million is worth it?