"Trump owes this money because he fraudulently misrepresented the value of his assetsā€”and now (oops) apparently no one will accept those assets as collateral."

Less than a month after New York Attorney General Letitia James said she would be willing to seize former Republican President Donald Trumpā€™s assets if he is unable to pay the $464 million required by last monthā€™sĀ judgmentĀ in his civil fraud case, Trumpā€™s lawyers disclosed in court filings Monday that he had failed to secure a bond for the amount.

In the nearly 5,000-page filing, lawyers for TrumpĀ saidĀ it has proven a ā€œpractical impossibilityā€ for Trump to secure a bond from any financial institutions in the state, as ā€œabout 30 surety companiesā€ have refused to accept assets including real estate as collateral and have demanded cash and other liquid assets instead.

To get the institutions to agree to cover that $464 million judgment if Trump loses his appeal and fails to pay the state, he would have to pledge more than $550 million as collateralā€”ā€œa sum he simply does not have,ā€Ā reportedThe New York Times, despite his frequent boasting of his wealth and business prowess.

  • makyo@lemmy.worldEnglish
    31Ā·
    8 months ago

    I think Iā€™d actually welcome that tactic from the Trump campaign. The base arenā€™t going to change their mind no matter what they hear but Iā€™d be willing to bet a good portion of swing voters will hear about Trump losing his tower and realize that hey, maybe heā€™s actually not a great businessman. It makes him look weak when the only tactic that really works for him is the strongman one.