Trump owes more than you think

[marmar]

(Salon) Tallying up all the fees and penalties heaped upon Donald Trump in fairly quick succession, he looks to owe even more on top of what's been read out in recent court decisions, such as his non-victorious NY civil fraud trial.

After the $83.3 million sum awarded to E. Jean Carroll on Jan. 26 — layered on top of the $5 million he already owes her from last year — and now the $355 million from his civil fraud trial, his grand total will increase after factoring in a 9 percent interest rate in this most recent ruling.

Faced with this financially crippling sum, Trump will likely find it more difficult than he normally would to ready an additional appeal, with New York Supreme Court Justice Arthur F. Engoron blocking him from borrowing money at any bank in New York for three years, according to The Daily Beast. .................(more)

https://www.salon.com/2024/02/16/factoring-in-prejudgment-interest-could-actually-owe-over-400-million/?in_brief=true

[OAITW r.2.0]

1. 9%/year.

That's $50mm of interest, every year. He can't sell without paying his debt.

[lastlib]

30. I'm hearing the state law changed....

reduced the interest rate to 2%......But I'm just a listener.

[OAITW r.2.0]

32. Heard that too, What's this debt worth? HI RISK, HI INTEREST,

[QED]

2. He'll need to get a loan from Prince Bonesaw

or Vlad.

[CrispyQ]

5. Or Jared.

Time to pay up for that security clearance Trump got him.

[CrispyQ]

3. One of the NBC pundits went on & on about how many properties Trump owns,

but not a mention that he OWES money for many or most. Some pundits are bending over backwards to make it sound like this isn't devastating news for Trump.

[bhikkhu]

15. "You know the nice part about me? I don't need anybody's money." - Trump, 2015

Back when he was bragging about funding his own campaign, and being immune to influence because he was so rich. He's been begging for money ever since, and now may be the first time his supporters aren't going to be able to bail him out. Maybe. Possibly a foreign government could step in.

[eppur_se_muova]

19. Lawrence just played this video.

Now discussing whether he can afford to appeal.

[C_U_L8R]

4. Not tax deductible either.

[LetMyPeopleVote]

6. Prejudgment interest is owed on these sums

Link to tweet

[VMA131Marine]

7. With interest he actually owes about $620 million

for all the judgments so far. Plus he may owe the IRS another $100 million for a disputed tax deduction.

That’s basically 3/4 of a billion dollars for people keeping track.

[rubbersole]

29. Vlad's couch cushions.

Send Lindsey and Rand over with their little hands to search.

[Botany]

8. I love it when a story starts out with, "once apon a time" or "faced with a financially crippling sum"

The #s:

5 million for the first E. Jean Carroll trial.
83 million for the 2nd E.J.C. Trial. (Trump just had to keep talking)
355 million for his frauds in NY state.

$443,000,00. + interest

Donny and or the Trump Organization in N.Y. I doubt has that kind of cash. His “I am a billionaire.”
act is just that an act.

This is the beginning of the financial destruction of Trump. I doubt that even his MAGA suckers
are going to give his “campaign” enough money to cover these costs.

[Warpy]

9. They know he's going to drag his little feet on this

so that 9% interest is going to add up really fast.

Good.

[Botany]

10. Time to sell off his properties in N.Y. State such as the Trump Tower in Manhattan.

Tish James no doubt has the liens ready to go as does E.J. Carrol’s lawyers.

[Warpy]

21. All he owns of that building is his apartment

He sold the building off years ago.

Most of the real estate he still "owns" is mortgaged up the gazoo.

Most of what he's going to have to unload is in the stock market. No, nearly half a billion dollars of dumped securities won't make that big a difference to the stock market over time. He'd just better do it soon, you can bet the word is out about his larger positions and the big money is already quietly selling theirs.

[Botany]

37. If Trump had just put the money he got from his Dad into a simple index fund he would be fine now

…. but instead he now is living on O.P.M.. Other People’s Money. His whole persona of being a
billionaire is as fake as his tan and hair.

[Warpy]

39. He wouldn't have been able to buy up a jailbait beauty pageant

so what would have been the fun in that?

Remember, he's all about image and being the center of attention. Getting quietly rich is not his style.

[NNadir]

11. It's going to cut into Don Jrs. cocaine bills.

[madinmaryland]

14. Coke Junior's dealer is now demanding payment up front.

[rubbersole]

31. Kimberly could chip in. She's famous for lap dances for contributions.

[BigmanPigman]

12. Wait a sec, I thought he said he pays his bills, unlike NATO!

His cult is dumber than dirt. They couldn't pull their heads out of their asses with forceps.

American Idiots!!! No Nothing Americans .....

[Cheezoholic]

13. Need some edumacation here. From what I understand, anyone found guilty of a civil case like in E. Jean

must put up a percentage in cash basically as a bond(?) in order to file an appeal. If so, is it the same in this Trump Org. case? I was made to understand appealing doesn't mean you don't pay anything or is it wrong or different?

[eppur_se_muova]

20. Several people have mentioned a 20% deposit is needed. Not a lawyer myself, but I keep hearing that. nt

[kwijybo]

24. As I understand it

He has to put the cash up front, essentially, before he can appeal the rulings. He has 30 days after the judgement is registered. For example, the EJCarroll#2 case was registered last week, and he has until about 1Mar to pay up, or to pay up and appeal. This judgement will be registered late next week, early the following, and the clock will start.

Essentially means, either: paid in full (Like the EJCarroll #1 case. $5M), OR, get a bond (10 or 20% fee, 100% collateral), OR, get a loan (100% collateral, plus mortgage costs and interest). The fun part on this is, after this ruling, he will have a horrible time getting a loan, if I understand it correctly, so bonds and loans become 'iffy'. IANAL, though.

[Cheezoholic]

28. Not exactly in a bargaining positiopn to get top dollar on assets either I would think

I would assume the temporary judge is watching transactions the company makes until all appeals have sunk too. But like others have said, he could always sell a few more copied classified documents to Bonesaw or other bad actors.

[eppur_se_muova]

36. HA ! Love the Bart Simpson reference in your name ! nt

[Permanut]

16. I think all of the MAGAts in the entire country..

should sell everything they own, get a second and third mortgage, borrow every cent they can from financial institutions and relatives, and send all of that money to Mango Mussolini - just to show their loyalty.

[Bayard]

17. If all of his properties were worth what he said they were,

He wouldn't have a problem raising the money--just sell a few.

[kwijybo]

25. See "Morgaged to the hilt" in the dictionary

You'll see pictures of a lot of Trump properties.

[SunSeeker]

18. David Kay Johnston just said the New York legislature lowered post judgemt interest to only 2%.

The 9 % annual rate in NY state for civil judgements was reduced this year to 2 % going forward.

[PortTack]

22. Even at 2% considering the judgement...that's a lot. Yes, I want to see him in jail for his crimes, but him being

Penniless is a good start. Unless he has multi millions stashed off shore where’s that money going to come from? And if he does, how is he going to get to that money without facing more crimes?

Is anyone really going to bail him out? Leonard Leo? I just don’t think anyone will…could be wrong

[AZ8theist]

27. The money will come from selling more classified information.

[SunSeeker]

34. I certainly hope nobody bails him out.

[Dave Bowman]

23. The more the merrier.

[Ford_Prefect]

26. IMO he has next to nothing at all and is living hand to mouth on what he raises for his campaign funds.

His so-called 400 million cash is not available in the form he's claimed. Most if not all of his properties are likely mortgaged to the hilt. I doubt he has clear title to any of the properties associated with his name, such that selling them or putting them up against his obligations will not work.
IMO This situation is why he has worked so very hard to keep the truth from coming out.

[MontanaMama]

33. Seriously though...

Who makes him pay?

[no_hypocrisy]

35. Does the Uniform Commercial Code come into play?

Specifically, Article 9 concerning priority in whose debt gets paid first and succession?

[Wicked Blue]

38. And how will he pay his lawyers?

[Delmette2.0]

40. Did his 2016 campaign pay all their bills?

I'm thinking about all the cities that were looking to be reimbursed for extra security and traffic control.