Trump says he'd have to hold 'fire sale' of properties to meet $464M bond

[BumRushDaShow]

Source: The Hill

03/19/24 11:02 AM ET


Former President Trump argued Tuesday he would have to take extreme measures in order to pay a $464 million bond due next week in his New York civil fraud case, such as selling some of his properties for cheap “fire sale” prices.

Trump blasted New York Judge Arthur Engoron, who ruled against the former president in the fraud case, in a Truth Social post objecting to having to post the bond. “Judge Engoron actually wants me to put up Hundreds of Millions of Dollars for the Right to Appeal his ridiculous decision.

In other words, he is trying to take my Appellate Rights away from me,” Trump wrote in a post on his Truth Social platform Tuesday morning. “Nobody has ever heard of anything like this before.” “I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!” Trump added.

Trump’s warning comes a day after his legal team informed the court that the former president was unable to secure the full $464 million bond due next week. They cited difficulties finding a Treasury Department-approved surety company willing to underwrite a bond at such a high level. And they noted many of the approved companies have internal policies against issuing bonds of more than $100 million.

Read more: https://thehill.com/regulation/court-battles/4541652-trump-says-hed-have-to-hold-fire-sale-of-properties-to-meet-464m-bond/

[BeyondGeography]

1. Seems we need a tiny violin for Mr. Tiny Fingers

[FakeNoose]

3. I have one and I'm happy to share

[FailureToCommunicate]

22. Even smaller...

THIS is how much we should feel bad for TSF:

Link to tweet

/photo/1

[Hikerchick57]

47. Yes

[Bernardo de La Paz]

35. For your entertainment: Nah, tRump has 'em right where he wants 'em

... at least according to the FReaks:

Q ~ Trust Trump's Plan ~ 03/16/2024 Vol.489, Q Day 2331
2024-03-19, · 608 of 608
little jeremiah to yantis

What if there is a plan... it’s underway... and Trump knows what’s coming?
What if what’s coming makes these actions moot?
What if he has them right where he wants them?
What if other than the “property value” there’s nothing worth seizing there?
What if he’s strategically taking on a (temporary) appearance of financial loss?

Why do you think some judge in NY will finally “get him” when even Cankles and her apparatus couldn’t?

Wars have collateral damage and sometimes you have to strategically retreat (or appear to).
He is (in his own words) a wartime President.

I see 0 indication of any worry on Trump’s face in interviews or rallies... so, my unsolicited advice would be to stop stressing.

Enjoy the movie.

~~~~~~~~~~~~~

Agreed!

[calguy]

51. Yeah... I get it now

Trump is playing 3D chess while the courts are playing checkers....lolol

[ms liberty]

54. The thing I hate most about the interwebz is

That I now know just how many f**k**g moronic imbeciles there are in the world. And how many mentally immature idiots there are in the world. And how many hate and rage filled miserable f**ks there are in the world.

[COL Mustard]

66. You only think you know...

How many f**king moronic imbeciles there are in the world. They multiply exponentially. There are probably twice as many now as there were when I started this response!

[Klondike Kat]

70. Just check out the first few minutes of "Idiocracy"

if you need verification.

[Bleacher Creature]

2. Works for me!

[cutroot]

4. Yes, that's the point

Stinky thinks that every one else has to be nice while he plays dirty. Surprise. Repercussions.

[FakeNoose]

5. If he COULD declare bankruptcy and remove the fines

... he would have done so already. The judge should be asking about the money the Chump family has hidden in offshore accounts. Chump would rather lose his NYC properties than give up his secret "get-away" money.

Doesn't that tell us a lot?

[bucolic_frolic]

6. That problem should have been in your business plan and stress test, you totally SF

[underpants]

7. Not a YOU'RE FIRED SALE? It's like he's not even trying

Oh well. Guess you should’ve started liquidating just in case.

Now I will respond further in meme and gif form

[greatauntoftriplets]

8. And this is a problem for what reason, Spanky?

[PJMcK]

9. So what?

When Trump was squawking about whether NATO members were paying the appropriate percentages, he said people have to pay their bills.

Live by your own words, Trump! We don’t care if you have to sell below market value. That’s your problem!

I’m a New Yorker and you owe us big time. Pay up, loser.

[Hermit-The-Prog]

65. Since traitortrump can't pay his bill, I say let Russia do whatever it wants with him.

[TeamProg]

10. Um, "Don't DO the CRIME if YOU CAN'T Pay the FINE!".. Isn't that what 'they' say? nt

[Ray Bruns]

16. Don't do it!

Sorry but I had to add the refrain

[EndlessWire]

24. Totally. n/t

[twodogsbarking]

11. That is a lot of money.

[2naSalit]

12. And..?

Why are you waiting?

[Harker]

13. It's not the judge who wants him to put up the money.

If is I, and the other "people of New York."

[4lbs]

14. Of course, Dumpy the Clown would try to blame the judge for enforcing rules long ago set

against ANYONE who loses a judgment and actually has to pony up the money first before appealing.

I guess he doesn't realize that the judge's time is also valuable and costs money too.

He seems to think that he will win any appeal too. Good one.

I'm also thinking that the cheap 'fire sale' line is a cover for finding out that he is actually worth much less.

Hey look, I was worth billions, but now, I had to sell all those properties for about $500 million, much much less than they are worth. So... umm... yeah.

Mmmm-hmmm. Sure. Okay. Sit down and have some more ketchup.

[thesquanderer]

15. Ironically proving the prosecution's case, that his properties are not worth what he claimed they were. (n/t)

[Evolve Dammit]

17. Gotta pay to play orange boy

[Evolve Dammit]

18. maybe you should have lived "within your means." A-hole

[SupportSanity]

19. C'mon, Trump! Trump University covered all of this in Chapter Two! Maybe....

Maybe he should have studied.

Can probably find it on eBay.

[EarthFirst]

20. His appellate rights are as equal to anyone else appealing a civil judgment in NYS

The undertaking is part of the process; as dictated by NYS law. Not some arbitrary extra-judicial process that is being taken by Judge Engoron.

Find it; or they’ll find it for you…which also; is spelled out as part of NYS civil law; not some random seizure process…

[Earth-shine]

21. Big, fat cat billionaire says what?

(Just to be clear, I didn't call him "fat." )

[mike_c]

23. OK, that works.

[hamsterjill]

25. Then start the sale, you orange asshole.

Because that is what any other person in your shoes would be expected to do and you are no better.

[Lulu KC]

26. So many violins

My ears are hurting.

[EndlessWire]

27. He's trying to pressure the Judge.

It's all nonsense, of course. He hired a failing attorney, and based on sufficient evidence, he got fined. And, since he doesn't deal in real world currency at appropriate levels, his gold-plated ass belongs to J. Engoron. Seems justified to me.

Whine, whine, whine. I believe he has the money, or a deal to get the money. Let's wait and see. I hope James moves swiftly and terribly. If she does attach his holdings, we're going to find what he put up to get the EJ Carroll bond.

[marble falls]

28. Just so full of shit. His properties will not bring fire sale prices. They'll bring serious cash ...

... didn't Eric Trump claim that Mar-a Lago is worth a half billion?

[NanaCat]

42. They may bring serious cash

But that cash will automatically go into paying off creditors first. Everything he has is leveraged to the stratosphere. What's left for NY State will be a pittance, and certainly not enough to cover most of the $464 million he owes them.

That's what he's afraid of everyone finding out--that he was living on credit and his brand, not actual wealth.

[marble falls]

43. New York City real estate, Manhatten real estate?

[NanaCat]

45. Oh--and it was TSF

Who said it was worth 50x - 100x the $18million that Engoron allotted it.

Which is nonsense, because even in this real estate market, who would pay $900M-1.8Billion for that white elephant? It costs more to maintain it and its grounds every year than it would to buy other, more profitable luxury properties.

It was so expensive to maintain that the federal government sold it to this moron, to get out from under the ownership costs. When the feds aren't willing to waste money on it, then people who could afford a house like that will have better uses for their own money.

The only way TSF comes close to breaking even on the property is by doing what he did--turning it into a resort. The size, age and even the historical marker of the place makes it a property that would appeal only to a select few, and none of them want to take on the serious expense of maintaining it after forking over a premium price to acquire it.

Did I mention that living it in the summer is unpleasant, if not downright uninhabitable? Who wants to own a property that it costs their net worth to keep cool in the summer if they want to live there?

That's why the appraisal of $18 million sounds about right.

You'd think someone who brags all the time about being a Wharton (under)grad and real estate tycoon would know that properties are worth what the market says they are, and not what the owner wants it to be.

[BlueKota]

29. Aw too bad so sad Donny

[dweller]

30. So light the match

motherfucker !
🔥 🔥 🔥 🔥




✌🏻

[Mike Nelson]

31. I think...

... his properties are needed. Homeless shelters... housing... for the poor, refugees, and settlers... centers for victims of abuse or discrimination... clinics for people with no health care... so many great uses!

[cstanleytech]

32. That's his own fault as he could have avoided it by keeping his fat mouth closed.

[twodogsbarking]

33. An online auction. That''ll work.

[cayugafalls]

34. Little Dumpy Vienna Sausage Fingers is having a melt down on the daily and I F'ing Love it.

[PortTack]

36. So...

[IbogaProject]

37. He can still appeal

The bond would've only paused enforcement collections.

[BumRushDaShow]

38. IF he comes up with the cash or bond

I expect he could file for bankruptcy (for his org only) and then that would scuttle collections at least temporarily. Alex Jones is doing that right now as is Ghouliani.

[IbogaProject]

39. Nope

The bond is just to pause collections, known as enforcement of the judgement. He can still appeal as his stuff gets seized. The fun part will be when he is summoned to provide detailed financial and business organization information under penality of purgery.

[BumRushDaShow]

44. He has filed paperwork requesting to appeal without a bond

and be able to have a pause/renegotiation of the collection, so he is still in deep doo doo.

[Bayard]

59. Because he's so special....

Paying bond is for peasants.

[Cha]

40. And, Whiny TSF?

[NanaCat]

41. So he's having these public tantrums to make it clear

Very--very--clear that he's for sale to the highest bidder.

Same old self-serving mooch he's always been, hoping someone with real money will pick up the tab for him so he doesn't have to.

[ancianita]

46. Trump knows that a judge doesn't MAKE the laws but ENFORCES the state's laws.

He just prefers to use the grace period the state attorney general has given him to propagandize his trumpcult base.

[Grumpy Old Guy]

48. Maybe you should have kept your mouth shut!

[Omaha Steve]

49. For TFG

[dalton99a]

50. "You got to pay. You got to pay your bills."

- Donald Trump speaking at a rally in Conway, S.C., Feb. 10, 2024

[PatrickforB]

52. Well, he shouldn't have run a corrupt business and done all that illegal stuff, then, should he? n/t

[DBoon]

53. Let the fire begin

You're gonna burn!

[Chi67]

55. Well

No shit, motherfucker. You broke the law, this is what happens to everyone else.

[RockRaven]

56. Yeah, well, that's why you shouldn't persistently commit fraud.

If you hadn't done that, you wouldn't be facing this consequence.

[Chi67]

57. Exactly

If you can't afford the fine, don't do the crime.

Stupid fuck.

[Aussie105]

58. I feel sorry for the fat idiot.

First time in his life he can't talk his way out of or around something he doesn't want to pay.

Bigly blow to his (imagined) grandiosity.
Still, he who believes in his own propaganda is likely to get skewered by it.

The fire sale of properties was always on the horizon.
We may well get to find out how much a white elephant like Trump Tower is worth on the open market, and what he owes on it.

What if there are no interested buyers? Hmmm . . .

[JoseBalow]

60. I hope he gets caught trying to hide assets

and he catches a state charge.

[creeksneakers2]

61. BWAHAHAHAHAHA!!!

[TomCADem]

62. I am sure some Russian Oligarch or...

…rich Republican with a Nazi fetish will be happy to bail him out.

[0rganism]

63. Your proposal is acceptable

[Kennah]

71. This

[moniss]

64. I believe he may also

not want to reveal how over-leveraged his properties are and the weird web of hundreds of LLC's involved. Several reasons come to mind such as has he lied to some creditors about the existence of other creditors? Also there may be some "unusual" unsecured creditors who may not be very pleasant to deal with for him now that some of his cash-flow properties may get nipped and the money stream to pay them is no longer available. Those are the kind of people who don't believe in "taking a loss" on their "investment".

While no physical harm will come to him from them I would bet they know enough information to make his current legal problems look like a jaywalking ticket. There has always been the suspected money laundering component to so many of his "condo" deals. They could make things especially difficult for him as far as continuing/daily operations with properties he might retain after the AG is done with him and any foreign holdings also.

[Baitball Blogger]

67. Remember that guy who never purchased a newspaper, but everyday he would glance at the main

page at a newstand because he was hoping to see the obituary from a public figure that he disliked? And most of us thought that would probably be the only relief and satisfaction we would ever have in our lives when it came to some of these bastards who rise to fame and do more harm than good? Well, I was wrong.

Watching Trump come apart, one asset and one daddy long legs at a time is far more satisfying.

[Yo_Mama_Been_Loggin]

68. Or the properties are not worth what he says they are.

[SKKY]

69. Womp! Womp!

[prodigitalson]

72. ok

whatever

[Aussie105]

73. Perhaps it is time for America to say

to those who claim to be millionaires and billionaires that they should prove it with full disclosure of their financials.
Without 'massaged' numbers.

It is also time to unravel the web of Trump's finances.

Looking forward to the fire sale! Let it be so!