Donald Trump is broke hahahaha
Donald Trump is broke hahahaha
SFGATE columnist Drew Magary writes about the financial implications of Donald Trump's offer to pay only a fraction of the bond in his civil fraud case.
I was sure you editorialized the title but you didn't.
This ain't a real news site, the author is all caps laughing and screaming a bunch a stuff.
This ain’t a real news site
https://mediabiasfactcheck.com/sfgate/
Bias Rating: LEFT-CENTER
Factual Reporting: HIGH
Country: USA
MBFC’s Country Freedom Rating: MOSTLY FREE
Media Type:
Traffic/Popularity: High Traffic
MBFC Credibility Rating: HIGH CREDIBILITYRe: LEFT-CENTER bias: These media sources have a slight to moderate liberal bias. They often publish factual information that utilizes loaded words (wording that attempts to influence an audience by using appeal to emotion or stereotypes) to favor liberal causes. These sources are generally trustworthy for information but may require further investigation.
Overall, we rate the SFGate Left-Center Biased based on story selection that moderately favors the left. We also rate them High for factual reporting due to proper sourcing and a clean fact-check record.
You don’t have to like the tone of the editorial but SFGate is a reputable source.
This is the main newspaper in San Francisco California. As people have mentioned, it's an opinion piece.
But then censors the word shit. This is like a high school intern got access to their CMS
“Donald J. Trump offered a New York appeals court on Wednesday a bond of only $100 million to pause the more than $450 million judgment he faces in his civil fraud case, saying that he might need to sell some of his properties unless he gets relief.”
He’s a real estate investor. Having most of his money in real estate is not the same as actually being broke. That’s like a rich college student complaining they’re “broke” when they’re out of cash in their wallet, but they still have a $1,000,000 trust fund they conveniently forgot to tell you about.
Trump can still walk into any bank, take out a loan against his properties, and have all that cash on hand again. The courts need to force him to actually sell his assets. If he refuses, put liens on his properties until he loses them all. Then maybe he’ll know what broke is.
American banks stopped loaning to Trump years ago because he didn't paid his loans on time and without a fight. This is why he has to go to Russia and to the Deutsche bank for money.
Your quote above is the tl;dr of the article.
Trump only offered 100m on the 450 million due on the NY fraud case, the court rejected the offer (yesterday Feb 28), ergo Trump is broke.
- Article Author
No new information past that.
It will be interesting to see what NY does next.
March 25th is the next date of interest:
https://www.nytimes.com/2024/02/28/nyregion/trump-bond-civil-fraud.html
The attorney general, Letitia James, is expected to provide Mr. Trump a 30-day grace period, which will expire on March 25, at which point she could move swiftly to seize Mr. Trump’s bank accounts and perhaps take control of his New York properties.
EDIT: Looks like this judgement was lifted yesterday. TIL
~~No, he can't walk into any bank, because he is literally barred from taking any loans from banks in New York. That was part of a previous judgement. And since many of the biggest American financial institutions operate out of NYC, he's pretty fucked in that regard.
He would have to rely on wealthy friends (who are extremely wary of his situation) or foreign banks that will offer him incredibly predatory conditions since they know he has no choice but to accept~~
When the appeals court told him he had to post full bond they put a stay on the judgements that barred him from getting loans in NY and the one that prevents him from running a business. So until his appeal process is complete he can still get loans from banks in NY. And everyone with an interest in these crooked feelings, likely including NY banks, wants this overturned and will be willing to help him through that process.
The man's CFO is in jail for fraud. I believe the NY AG referred evidence of Bank Fraud to the Justice Department. That's a federal crime.
Pretty sure many banks wont do buisiness with Trump regardless of collateral. When the guy is known for inflating his illiquid assets collateral becomes risky too. Trump is a bad bet
One of the ex-presidents of a very big country stood up and asked me, he said to me, “Well sir, if I don’t pay and I’m charged by the court - will you protect me?”. I said “You didn’t pay? You’re delinquent?” He said “Yes let’s say that happened.” No, I would not protect you. In fact, I would encourage the attorney general to do whatever the hell she wants. You gotta pay. You gotta pay your bills.
Stop stop I'm gonna cooooom. Please fucken no one give this man a loan.
I wouldn't mind being as broken as trump. I'd bet you anything that no matter how broke he is, he'll have cars, a big home to live in, great food everyday, travel the world and not wory about paying rent or for heating.
Rich people broke is not regular broke. The term is subjective
Oh hey, this is written by one of the old Deadspin guys, from back when it was worth reading
That was hilarious.
Hahahahahaha this sparks joy :D
It's just another attempt to delay paying what he owes. He has/can get the money, he just feels like he shouldn't have to.
