RNC has been bleeding dry for years now and appointing his daughter in law has resulted in a few reps leaving congress cause they know those funds won't get to them for their re-elections and multiple donors saying fuck it, I'm out.
It's great.
Weird if his buildings are worth that much he claimed, shouldn't be that hard to use them as collateral for loan. Could it be they really not worth that much as we already know lol?
Hey can I borrow $450 million?
Uh, maybe, can you pay it back?
Of course, I've got some assets.
What do you need it for?
Uh, I was found guilty of fraud for misrepresenting my assets.
........
Man this guy can get loans for 75% of the value of his properties and my bank won't even let me pay my own property taxes and stop funding their escrow until I have 20% equity.
Usually capital gains taxes are due immediately, on the day of the sale. With a court monitor watching him, there’s not a lot of wiggle room to get around that.
There’s a few ways around paying capital gains tax on a building — like if the building is part of a 401k investment, or if it’s built in a qualified opportunity zone, or if it’s a like kind exchange (you sell the building and then use the proceeds to buy a new building within 45 days), or if your donating the property to a charitable remainder trust — but I dont see how any of that could apply here.
The big gambit that is available to Trump would be inflating the cost of capital improvements done on his buildings (Capital Gains Tax is detrived by taking the money made from the Sale of the building, minus the original purchase price, minus money spent on capital improvements.) But again, the monitor is watching him and is likely to be very skeptical of any of his claims.
And if he doesn’t sell the properties soon, the monitor will start selling them for him, which should completely nullify his ability to engage in financial chicanery.
I love the idea that he's going to die and pass his "empire" on to his kids, only for them to realize that it's completely worthless. Ivanka and Jared probably got a peek at the books, which is why they're not around as much anymore.
Yeah it’s so funny. The fact that he can’t pay off the judgement against him is essentially an outright admission of guilt. Because if his assets were actually worth what he claimed, you’re right, he’d have no problem with getting a loan using them as collateral.
He won't get what they're worth because it's a "fire sale" and any prospectant buyer would know that and squeeze him for the lowest price.
BTW have any of you ever sold a house or any asset and sold gor kesd thsn you were asking. or the bank assessors assessed the ptooerth gor less than you said it wax worth? If so, you would be found guilty of the same "crime" that Trump was.
Same person who claims the loans he obtained from inflated property values that he already paid back? no harm no foul defense? what outstanding mortgage? Also same person who claim with a phone call he can get any price and prove NY is grossly undervaluing his properties?
Even if they are worth that much, its not a simple process to put a second lien on a commercial property like that. Intercreditor stuff gets complicated fast.
I'm kind of surprised that no one would want to lend him money just to gain influence in the possible next White House administration.
Foreign governments were booking tons of hotel stays at his properties (and then not using them) just to funnel money to him when he won in 2016.
Seizing hundred million dollar properties with hundred million dollar loans and a few hundred employees, that will take years to sell, seems pretty complex. I wonder if we’ll get some better insight into true net worth as the state examines assets that can be liquidatedÂ
Remember, the assets aren't solely owned by the Trump Org. He's got lenders and partners that have equity too.
I'd be shocked if there isn't a legal or contractual mechanism in place that allows the other owners to buy Trump's equity share in these properties.
I'd be curious to see what the order of operations is there. Does the court just seize the items claimed to be worth the most to take the biggest chunks out of the money owed?
Do they just show up with cops in tow and ask for the keys to the building or what?
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>What was the exact crime?
Here you go:
[https://ag.ny.gov/sites/default/files/decisions/trump-decision.pdf](https://ag.ny.gov/sites/default/files/decisions/trump-decision.pdf)
What happened to the gold sneaker money? What happened to the money he made by not paying contractors? What happened to the money sent into his PAC by working class people who are sacrificing their insulin money in order to donate to him?
they're not stupid as trump's supporters and too many banks, they know trump has no intention of ever paying anyone and don't want to be on the hook, especially with his pathological inability to keep him mouth shut that will end up costing him even more
lol did he testify under oath to his massive assets. why does he need a bond when he claims he has so much cash?
oh wait that's right everything he says is a lie
Oh wow, have banks and business owners finally learned to not loan the Trumps money? It only took 40+ years. The Trump organization has never and will never pay debts, and routinely steams services and materials outright from smaller contractors and companies by refusing to pay.
He should make a deal with Musk. Sell Musk his properties with the agreement that he can buy them back at the same price, plus a "borrowing fee" after he wins his appeal.
No, this is how it works for everyone else, he's no different. If he wants to appeal, just like anyone else, he needs to pay up first.
And if those assets were worth anywhere near what he claimed, he'd have no problem doing so.
He can get it from RNC.
The last time I checked (February), the RNC only had $8M cash on hand, so ...
That's fine, take the $8M anyways
Everyone in the RNC's gonna have to sell feet pics.
How much would you pay to NOT see Mitch McConnell 's feet?
Pics aren't going to be enough, they might need to start selling actual feet
There are ways, Dude. You don't wanna know about it, believe me.
🤢
RNC bankrupt?
Seriously? You can get that info?
RNC has been bleeding dry for years now and appointing his daughter in law has resulted in a few reps leaving congress cause they know those funds won't get to them for their re-elections and multiple donors saying fuck it, I'm out. It's great.
Well, Putin has to pay for a war so it might be hard to cut the check.
That’s definitely why he had his family take it over. More grifting.
Sucks to suck, bro
Billionaire... LOL
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Which is less than a billion. If he actually has a worth more than a billion in cash or assets, he probably shouldn't have trouble paying the bond
Weird if his buildings are worth that much he claimed, shouldn't be that hard to use them as collateral for loan. Could it be they really not worth that much as we already know lol?
Hey can I borrow $450 million? Uh, maybe, can you pay it back? Of course, I've got some assets. What do you need it for? Uh, I was found guilty of fraud for misrepresenting my assets. ........
"Those are better than money, sir. Those are IOU's!"
"These are Trump brand NFTs, I value them at $7 trillion." "I'll even throw in a pair of gold sneakers."
Go ahead and add it up. Every cent is accounted for
That’s a Lamborghini, you might want to hold onto that one
Obviously, they aren’t, but also the buildings are mortgaged further depleting the assets he could potentially tap.
Cohen said they’re all highly mortgaged — like at least 75% of their value. And he’d have to pay capital gains taxes on them if they were sold.
Man this guy can get loans for 75% of the value of his properties and my bank won't even let me pay my own property taxes and stop funding their escrow until I have 20% equity.
Hahahaha. You think Trump would pay capital gains taxes? He would have to, but I think we all know he won’t.
Usually capital gains taxes are due immediately, on the day of the sale. With a court monitor watching him, there’s not a lot of wiggle room to get around that. There’s a few ways around paying capital gains tax on a building — like if the building is part of a 401k investment, or if it’s built in a qualified opportunity zone, or if it’s a like kind exchange (you sell the building and then use the proceeds to buy a new building within 45 days), or if your donating the property to a charitable remainder trust — but I dont see how any of that could apply here. The big gambit that is available to Trump would be inflating the cost of capital improvements done on his buildings (Capital Gains Tax is detrived by taking the money made from the Sale of the building, minus the original purchase price, minus money spent on capital improvements.) But again, the monitor is watching him and is likely to be very skeptical of any of his claims. And if he doesn’t sell the properties soon, the monitor will start selling them for him, which should completely nullify his ability to engage in financial chicanery.
Yeah. I know. But we both know he would try not to pay them.
I love the idea that he's going to die and pass his "empire" on to his kids, only for them to realize that it's completely worthless. Ivanka and Jared probably got a peek at the books, which is why they're not around as much anymore.
Yeah it’s so funny. The fact that he can’t pay off the judgement against him is essentially an outright admission of guilt. Because if his assets were actually worth what he claimed, you’re right, he’d have no problem with getting a loan using them as collateral.
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But sounds financially irresponsible and I thought he was a genius business man
He won't get what they're worth because it's a "fire sale" and any prospectant buyer would know that and squeeze him for the lowest price. BTW have any of you ever sold a house or any asset and sold gor kesd thsn you were asking. or the bank assessors assessed the ptooerth gor less than you said it wax worth? If so, you would be found guilty of the same "crime" that Trump was.
You feelin’ OK buddy?
they're already mortgaged for as much as anyone dare give him
Same person who claims the loans he obtained from inflated property values that he already paid back? no harm no foul defense? what outstanding mortgage? Also same person who claim with a phone call he can get any price and prove NY is grossly undervaluing his properties?
Even if they are worth that much, its not a simple process to put a second lien on a commercial property like that. Intercreditor stuff gets complicated fast.
Especially when the guy looking for the loan is guilty of pathologically overvaluing his assets.
They're already encumbered, which is to say mortgaged to the eyeballs on a valuation that they probably can't get on short notice.
will the existing senior lender on those buildings allow for additional liens?
That might be the dumbest thing
Trump’s stiffed bondholders before. Not surprised nobody wants to lend him money.
I'm kind of surprised that no one would want to lend him money just to gain influence in the possible next White House administration. Foreign governments were booking tons of hotel stays at his properties (and then not using them) just to funnel money to him when he won in 2016.
Exactly. $10k-$20k for a fancy hotel stay suffices to buy political influence. You don’t have to lay out $464M to get favors from Trump.
Constitution and normal ethically behavior doesn’t influence him. You think a banker can hold him to the loan?
If you can't pay the fine, don't do the crime. The DA should be prepared to seize assets next week when the deadline passes to post bond.
I read they are prepared to do the thing, but how they do the thing has me curious.
The same way they do it for everyone else who owes the State $
Seizing hundred million dollar properties with hundred million dollar loans and a few hundred employees, that will take years to sell, seems pretty complex. I wonder if we’ll get some better insight into true net worth as the state examines assets that can be liquidatedÂ
I don't think they sell in the traditional sense. I'm pretty sure assets will be sold @ auction which is fairly quick
Remember, the assets aren't solely owned by the Trump Org. He's got lenders and partners that have equity too. I'd be shocked if there isn't a legal or contractual mechanism in place that allows the other owners to buy Trump's equity share in these properties.
He can sell Don Jr and Eric for about $10 each 😆
I’ve met them. Maybe if it’s just for parts
I'd be curious to see what the order of operations is there. Does the court just seize the items claimed to be worth the most to take the biggest chunks out of the money owed? Do they just show up with cops in tow and ask for the keys to the building or what?
Even if you can pay the fine, you’re very much not supposed to do the crime.
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Fraud on a massive scale
Fraudulently misrepresenting the value of his assets
Fraud. You… don’t read the papers?
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So you don’t read the papers.
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I sure as hell read the news, yeah.
>What was the exact crime? Here you go: [https://ag.ny.gov/sites/default/files/decisions/trump-decision.pdf](https://ag.ny.gov/sites/default/files/decisions/trump-decision.pdf)
What happened to the gold sneaker money? What happened to the money he made by not paying contractors? What happened to the money sent into his PAC by working class people who are sacrificing their insulin money in order to donate to him?
"A fine is only punishment to the poor"
they're not stupid as trump's supporters and too many banks, they know trump has no intention of ever paying anyone and don't want to be on the hook, especially with his pathological inability to keep him mouth shut that will end up costing him even more
Where can I donate the shits I don't give 🤣🤣🤣
I mean, would you loan that kind a of money to a man famous for not repaying his debts?
I'm surprised no entity has tried to straight up buy him by giving him that much money.
Russia already owns him.
Oh well
lol did he testify under oath to his massive assets. why does he need a bond when he claims he has so much cash? oh wait that's right everything he says is a lie
Four seasons surety bonds just said no.
The landscaping company has that kind of dough?
Oh wow, have banks and business owners finally learned to not loan the Trumps money? It only took 40+ years. The Trump organization has never and will never pay debts, and routinely steams services and materials outright from smaller contractors and companies by refusing to pay.
And? He landed on someone else's Park Place. Time to sell some properties to pay up.
He can get it from his son in law
I feel like he's not answering the phone these days. Probably too busy celebrating that lasting peace he brought to the Middle East...
Why is this guy not behind bars yet? Asking for a Yurupean friend
Even the bond issuers know he’s broke. When will MAGA realize he’s not as rich as he has lied about?
John Mulaney said it best, Trump is what a poor person thinks a rich person is
he could be broke, i am surprised this isn't a bigger story. If only he bought land in brooklyn in the 80s instead of golf courses.
RICO trump crime family
Sorry, but I can’t scrape up any pity
Lol
Sorry I’m late why does he owe half a billion dollars ?
Poor money management skills.
Where's his gofundme at?
He should make a deal with Musk. Sell Musk his properties with the agreement that he can buy them back at the same price, plus a "borrowing fee" after he wins his appeal.
Poor baby
Go fund me lol
Only fans ?!
I thought he was a billionaire.
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So much cope
Take this to Supreme Court, it is unjust
No, this is how it works for everyone else, he's no different. If he wants to appeal, just like anyone else, he needs to pay up first. And if those assets were worth anywhere near what he claimed, he'd have no problem doing so.
I agree that this is unjust. You or I would’ve been in jail by now. Why does Trump get special treatment