Could Trump be forced into bankruptcy? Hear why former investment banker thinks so

[BeyondGeography]

Banker doesn’t see how Trump avoids bankruptcy would be a better title.

The interview runs from 2:12-7:12.

?si=Rd4q8-9ljyF024DC

[LetMyPeopleVote]

1. I remember when Texaco had to file bankruptcy when it could not post a $10 billion bond

[Irish_Dem]

2. I think there is a good chance Trump will file bankruptcy.

He is running out of options.
And he will of course blame everyone else for it.

Unless he can get some big donors.
That is still a possibility.
Probably some scary donors who will own him.

[LiberalFighter]

3. I don't believe bankruptcy is an option for fraud.

[Irish_Dem]

5. Of course it is.

You cannot get blood out of a turnip.

His properties may be low value or worthless after he pays off lenders and taxes.
His cash is most likely hidden in overseas accounts.

What is there to go after?

[LiberalFighter]

7. Section 523 apparently says otherwise.

Section 523 of the United States Bankruptcy Code also exempts from discharge “any debt… for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by… false pretenses, a false representation, or actual fraud.”

“Generally speaking, penalties are nondischargeable—not forgiven—in bankruptcy,” said Robert Lawless, a law professor at the University of Illinois Urbana-Champaign College of Law.

[Irish_Dem]

9. LOL. Trump does not care in the least what the law says.

So if Trump has hidden his cash in offshore accounts and his properties are worthless,
what do the courts do?

Make him sell his pancake makeup and hair spray?
Make Melania sell her $100,000 shoe collection?

Send him to jail? Sure.

And when he takes it up to the US Supreme Court, what do the corrupt justices do?

And if Trump, Putin and the GOP manage to steal another election, I am sure
some of our enemies will be only too happy to pay off Trump's debt.

[LiberalFighter]

10. Doesn't matter what Trump thinks.

James has the resources to track every asset. Assets documented in government offices. I know when my grandparents bought their property as well as 2nd great grandparents. I know when my grandmother and grandfather received their liquor license to sell it in their grocery store. All of that is documented.

James is not limited to seizing assets in New York. She can go after MaraLago and his jet. His golf courses.

[Irish_Dem]

11. You have not answered my questions.

I read that Trump has signed over MAL to his son.
So I don't know how easy it will be to go after that.
It is said MAL is probably the only property Trump actually owns.
And he doesn't own it any longer.

And what if the other properties are upside down in terms of lenders and taxes?
And his cash is in a Russian bank?

So James spends a lot of time finding out there is little or no value in the properties and the
cash has been moved offshore.

What happens then?

[LiberalFighter]

12. Why don't you wait until James provides your answers?

If he turned Maralago to a son to avoid the judgment that would make it null and void.

Again. Wait until there are more details.

And if it turns out he doesn't have the properties he claims then that will come out in public and more people will not vote for him. He will still be on the hook. There are additional options James has at her disposal. When that happens we will know more then.

[Irish_Dem]

13. We shall see then.

James is good, but she is not a magician.
Cannot materialize money out of thin air.

And Trump being on the hook is not so bad given he seems to have
the US justice system on the run.

That said, I do hope you are correct.
I really do.

But I do not think Trump is done screwing over the American people or the US criminal justice system.

[LiberalFighter]

14. Joy Reid's guests provided a lot of answers that do not look good for TSF

[Irish_Dem]

15. I will look for that clip if someone has posted it.

But I will take it with a grain of salt.

I have heard for years that Trump is in trouble, and he cannot do this or that.
Then of course he does exactly that and gets away with it.

But karma has to catch up with him at some point.
If not this life, I sure as hell hope the next one.

[LiberalFighter]

16. He got away with it because of people like Roy Cohn, Allen Weisselberg

They knew the ins and outs of NYC business operations. That means knowing who in city government departments will work with you. It is easier when contractors have very limited funds and don't want to go up against someone like Trump that had more finances and weasel attorneys. Trump made money by stiffing those doing business with him.

He worked on his PR too. Both to make him look very rich and smart business person. They would think his status in NYC and elsewhere was high because of it and would not challenge him.

[Irish_Dem]

17. Trump's aides say he is much more dangerous now.

They say the first time he was in the WH he did not know the levers of power and how to use them.

Now he knows them quite well as we can see.
He is back heading for the WH.

And yes as you point out Trump has been a clever and successful con artist
who surrounds himself with legal talent to bully and threaten others.
And who go to jail for him.

If this were a movie it would be fascinating.
But real life, not so much.

[LiberalFighter]

18. His team also have a playbook ready to implement.

To remove employees and replace them. To eliminate the civil service and the protection.

[Irish_Dem]

19. Yes they are set to go day one.

[Karadeniz]

4. Werent shareholders suing to prevent the truth social merger? If that goes

Through, its said he'll make billions... but that he can't get to it for six months.

The courts and DOJ need to find a way for any bond deal to be subject to investigation for national security reasons. The Court has failed the country in allowing an insurrectionist anywhere near a gov't position, violating the constitution to pull that off. As if that isn't enough of a risk, the court system so far hasn't expressed any concern about enabling a candidate indebted to lord knows who to continue on his merry way. We need stricter standards imposed on candidates at this level. They need to be able to pass a top security clearance background check.

[MagaSmash]

6. The Bankrupt "Billionaire"

[Blue Owl]

8. Let the financial bloodbath proceed!