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Clock is ticking for Trump to post bonds worth half a billion dollars (www.washingtonpost.com)

submitted 8 months ago by MicroWave@lemmy.world to c/politics@lemmy.world

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Experts say a cash crunch in coming weeks could thrust the former president’s business into greater uncertainty than it has seen in decades

Hours after a New York judge ordered Donald Trump to pay a $355 million penalty for submitting false data to financial institutions, the former president railed against the decision during a fundraiser at his Mar-a-Lago Club with some of the Republican Party’s wealthiest donors.

Trump claimed at that Feb. 16 gathering that the judge in the civil fraud case had made history by ordering him to pay such a staggering sum, according to two people who were there. He suggested that the judgment was so severe that the public would consider it unfair and rally in support. Over and over, he returned to the penalty, livid at its size.

The episode offered a glimpse of Trump’s preoccupation with a legal decision that threatens his wealth and has thrust his business empire into greater uncertainty than perhaps any time since the 1990s, when his Atlantic City casinos fell into extreme debt, leading six of his companies to file for bankruptcy.

Trump, who built his business and political identities around boasts of financial savvy, now faces an immediate cash crunch of more than a half-billion dollars — the combined cost of two legal battles that will now test the limits of his personal wealth.

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[-] TropicalDingdong@lemmy.world 5 points 8 months ago

I assume you mean 'Bidens' power structure?

The right has been cheering on civil war for decades. The took a crack at it in 2021. They've made assignation attempts as recently as 2020 (Pelosi, Wittmer, a bit further back Giffords, who suffered a major brain injury as a result). Its easy to write this kind of speculation off as hysterics, but there is a legitimate history forming where it seems like the right will seize power by any means. Like this isn't made up hysterics, this is what these people are doing.

I don't think its unreasonable to expect something unexpected here, and certainly don't expect Trump to suddenly decide that its time to roll over and pay his dues. He'll fight this. It might not be in court, but he will fight this. And he's far cleverer than some of the above commentators give him credit for. Just because they can't see out side of the box doesn't mean Trump can't. I don't like to underestimate those I find myself in opposition to.

So like right now, what is Trump doing? He's about to have all of his liquidity erased. That's huge. He won't suffer that in passing, so what is he doing in the background right now? Is he calling around to the Saudis and cutting deals? Is he on the phone with Musk and others who might carry water for him so its not his money he has to spend? Like either he's going to try to figure out how to hold onto the cash, or he's going to need to find another source of cash, assuming he can even front the bond.

He doesn't have many legal options, so I expect him to to consider other than legal ones. Just a matter of sussing out which ones have legs.

this post was submitted on 26 Feb 2024

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