It’s such fun to play Connect The Dots. Things that don’t seem to make sense on the surface become readily apparent. For example, we know about Melania missing in action. Could one reason be that her homes at Trump Tower and/or Mar-a-Lago might not be around anymore? Remember, she got into this Faustian bargain in which she lives for money. She’s done her part and now she might not get paid. Ergo, she might just stop doing her part. Can’t say as how I blame her.
Let us begin. Dot One and it’s a doozy: You read about Letitia James asking the Manhattan court to award a judgment of $370 million in damages, and ban Donald Trump permanently from doing business in the State of New York. This incensed Trump. This caused another all-caps screed to issue forth — although, in this day in age, it might be easier to go through Trump’s social media feeds and find the pieces that are not all-caps screeds. In all events, here’s his reaction to the New York attorney general.
Yawn. Like the Boy Who Cried Wolf, it never stops. We’ve all heard it before, word for word. BUT: this is where things get interesting, let’s move to Dot Two. Mary Trump has a spin on this and what she says makes perfect sense. And her theory of what could happen would explain Trump’s screaming meemies from today — and provide the rationale for screaming meemies to come.
Donald’s nightmare number one
Today was a blockbuster day for Letitia James and an awful one for Donald. And when I say awful, I truly mean one of the worst days in his life. Donald has already been found liable for fraud and is simply waiting for the judge to determine how much he will be forced to pay. Considering how rock solid New York’s case against him has been, Donald is screwed.
When James first brought her fraud case against Donald alleging that he’d fraudulently inflated his property values—and also deflated them when it benefited him—she estimated that he and his company should be liable for at least $250 million in fines.
As the trial proceeded, however, the extent of Donald’s “outrageous” fraud was revealed to be even greater than James initially thought. That culminated in James’ asking for Donald and the Trump Organization to be fined a $370 million for his “ill-gotten gains,” plus interest – a staggering and historic number.
Donald’s nightmare number two
Knowing Donald as I do, I know that it’s the second request by Letitia James that will really get under his skin.
In her filing, James urged Judge Engoron to issue the “necessary and appropriate” step of banning Donald from “participating in the real estate industry in New York State” for the rest of his life.
Donald spent his entire adult life creating an image that he was a real estate genius at the top of his game. This was his obsession and a fantasy, built entirely on the back of my grandfather’s success, a lifetime of lies and bank loans, and Mark Burnett’s tragic decision to center the Celebrity Apprentice around a failed businessman. Now, Donald’s house of cards is about to collapse – along with my grandfather’s legacy…a truly fitting end for both men.
Donald’s nightmare number three
While a possible $370 million fine and a lifetime New York real estate ban would rock Donald’s world, there is one very realistic outcome that could send set Donald on the brink of ruin: being forced to sell Mar-a-Lago.
Wow. Could that be the case? Mary Trump spoke with her attorney colleague, Joe Gallina. He said that this was a very real possibility.
“First, you have to remember that the holding company for Mar-a-Lago, the Trump Organization, has already been disbanded. So what does that mean for Mar-a-Lago?
While Florida has some residence protection laws, they have only ever applied to traditional residences. Mar-a-Lago, a members-only club with guest rooms, is not a normal residence. The property is also not protected from Engoron’s coming ruling.
“So could Donald be forced to liquidate his properties held by the Trump Organization, including Mar-a-Lago?
The answer is yes,” Gallina concludes.
That takes me back to my initial point, Dot Three: Melania is on the inside of all of this. She unquestionably has her own lawyers who are there to protect her interests — and Barron’s and her parents.’ It would be an incredible thing to think that she didn’t have such a set up. And her lawyers are undoubtedly able to look at all the facts and figures and do projections. Read this Vanity Fair article, “Inside the Trump Marriage: Melania’s Burden” if you never have.
It lays out graphically how Melania was not setting the modeling world on fire and Trump promised her a life of ease to pursue her hobbies of “Pilates and reading fashion magazines.” Melania has freely admitted the transactional relationship of her marriage. She’s said, (in response to a question, would she be with Trump if he wasn’t rich,) “Would he be with me if I didn’t look like this?” She’s kept up her end of the bargain, being ornamental, it looks like he’s going to default on his end, keeping her in high style.
If Mary Trump’s colleague was able to come up with a projection that realistically Mar-a-Lago could be on the auction block, then Melania’s lawyers already beat him to the punch months ago, probably. And remember, we don’t know at this point what will happen to Trump Tower. It was speculated, when the Manhattan trial first began, that Trump Tower could be liquidated along with other assets. There was no question at that time but that a judgment against Trump would reshape his business empire in a manner which was described as “from severe to seismic.”
Perhaps you remember the furor over how the tenants of Trump Tower would lose their investments, be forced to move, etc. It could be a real shitshow if and when this $370 million judgment is awarded.
And also bear this in mind: Trump didn’t lose a beat this morning. After closing arguments were heard in Manhattan, Trump immediately took to Truth Social and began begging MAGA for money, “to save America.” He’s clearly in panic mode. Who knows how long his financial house of cards is going to stand with a $370 million judgment against it?
And if he isn’t worried about Mar-a-Lago, somebody explain why it is the man’s mantra, over and over again, how Mar-a-Lago is worth so much more than $18,000,000 — as if that was chump change? He’s obviously obsessed with the value of Mar-a-Lago, would you not say?
As to Trump Tower, if he can’t do business in New York anymore, would he realistically want to maintain a residence there? And, could he, if he wanted to? Holdings are going to have to be liquidated. Something is going to have to go.
My take is that it would be Trump Tower and Mar-a-Lago, first. Maybe not. I wonder what Melania’s lawyers say?
I eagerly await the day they take those big letters down from Trump Tower. I’ve never purchased a pay-per-view event in my life but I’d come up with forty or fifty bucks to watch THAT glorious process. In the meantime I can hope I with the lottery because even if it cost a million bucks I’d pay for a little piece of one of those letter all framed up nice and neat with a background picture of a big pile of shit. Say that dinosaur spoor from Jurassic Park. Now that I think of it, pay-per-view of the moving vans taking Trump’s junk out of Mar A Lago would be worth watching too! Hey, a guy can dream.
That’s an idea. Maybe you should write an email or tweet at Lincoln Project and see if they could get their hands on the Trump Tower letters. A lot of people would like a piece of one as a souvenir.
The thing that is interesting to me is this: $370 million is an enormous sum of money, granted. BUT Trump is supposedly worth $3 billion? So why would he lose a home like Mar-a-Lago? It makes sense to me that the State of New York would liquidate a New York property. I get that. But I’m wondering why he wouldn’t sell a club in Scotland or someplace before he would sell the roof over his head nine months of the year.
I believe Mary Trump and her colleague. But that’s my confusion, why Mar-a-Lago and not Doonbeg or whatever it is, in Ireland? Or the Scottish golf club?
“supposedly worth 3 billion.” It’s a good bet he’s what’s known as highly leveraged and while he might be a billionaire probably well under 2 billion, most of which is tied up in his properties. If forced into bankruptcy liquidation he can’t get any of that money his properties are worth. Add in he’s got the better part of 400 million in outstanding loans to legitimate lenders that allowed him to restructure loans even after most legitimate banks stopped giving him new loans. His PAC money? It’s one of the flaws in the whole system (Stephen Colbert exposed it on his Comedy Central Show) how easily a politican can, without someone paying attention quietly dissolve the PAC and designate an account which doesn’t have to be named on the paperwork, or at least doesn’t have to provide much actual documentation. And keep the money! A little (or sometimes not so little) retirement slush fund. However, in this case the authorities WOULD be looking so Trump would have to fight for years in court and still might lose. But in the meantime he wouldn’t be able to hold off the bankruptcy liquidation of other assets. Cash flow will be his problem.
I don’t think the liquidation is tied to the monetary judgment directly. The sale of liquidated assets could be used to pay the $370,000,000 but I think all assets held by the Trump Organization, including the 500 LLC’s have to be liquidated and as in bankruptcy the proceeds would be distributed accordingly to lien holders and the US and state governments and then what was left over I suppose would go to Trump. The liquidation of Trump Org is a major portion of the punishment.
His name has,already been removed at the request of tenants,in several states.
Does the Trump Organization actually own Trump Tower? It is a condo building, and individuals own their apartments. He may collect rent on stores, and restaurants there, and own his apartment and offices, but the apartments belong to the buyers, I would think.
Ah, but you forget his M.O. Buy with minimum down payment, then mortgage it to the hilt. Borrow, borrow, borrow and leverage the debt (“I’m the KING of debt!”) to make the next purchase or live high on the hog. So, he has to sell? For how much? Will the price pay off the loans/debt? Who cares how much something is worth when, 1. you have to find someone willing to pay the price (and remember, he has always “helped friends” by buying at fire sale prices when they needed help. Trump Vineyards?) and, 2. how many properties will he have to sell to pay off all the mortgages/debt, taxes AND the fine? His wealth is on paper and mostly overstated. THIS may well be what pushes him over the edge. And, don’t forget all those lovely Russian oligarchs who have laundered money through his cheesy “condos”. How will THEY get their money back? Russia has experienced a rash of “window cancer” recently. If I were the mango monstrosity, I’d be scared shitless of windows and STAIRS… Couldn’t happen to a more deserving P.O.S.
Your dot joining piece is both persuasive and has merit. You say “… Something is going to have to go…” It’s gotta be Trump’s house of cards, hasn’t it?
At last we’ll be able to find out how much, (or little?), Mar El Largo is actually worth.
Or, for that matter, ANY of his properties.
didn’t he transfer MAL to some other holding company under Eric’s name?