Lordy, Lordy, Lordy. When you look below the top number, if you know Trump’s ego the way I do, this ruling is damn near a death sentence. And that’s beyond the loot.
The top number is bad enough. In the end, Judge Arthur Engoron managed to juggle the balls to get James within $6 million of what she wanted. The final judgement is some $364 million. Does Trump have it? A little perspective. The only property in New York that Trump actually owns outright is Trump Tower. It’s valued at $160 million. But Trump is carrying some $100 million in debt on the property. If he sells it, he walks away with $60 million. Which means that if Trump Tower is Trump’s only saleable asset, he can’t even pay off E Jean Carroll!
But to go back to my original question, Does Trump have the money? We don’t know. But we’re sure as hell going to find out. And that’s one of the things in this ruling that is so fatal to Trump’s ego. Trump’s ego shields are going down, likely for the last time.
One of the most lasting legacies of the Trump mystique was the simple question, How much is Trump actually worth? It was Trump’s favorite tease, and also his favorite boast. I’m so rich I don’t need companies to give me money to un. I’ll use my own money! Right. Which is why the bastard is currently text and e-mail bombing gullible seniors to send him part of their Social Security checks to cover his legal fees.
The Emperor has no clothes! There are several parts of this ruling that are going to strip Trump bare financially. For instance, Judge Engeron is going to keep the independent overseer in place for all of the Trump assets currently in receivership. Which means regularly scheduled reports back to Judge Engoron, which will become public record. So what? Here’s what, the first report the overseer sent in chronicled continuing fraud internally even after the overseer was on site.
But here’s the kill shot for Trump’s ego. While the judge did not permanently pull Trump’s business license to operate in real estate in New York, he did something equally as bad. Since the Trump Organization will be allowed to continue to operate in New York, Judge Engoron will appoint an independent Compliance Officer to oversee the daily operation to ensure that the company is in full compliance with all laws, as well as every clause of the judge’s ruling.
Question. What difference does it make what you call the Trump Organization anymore. Trump can’t touch it for three years, and when he finaly can, he’ll have an independent overseer as well as an independent compliance officer looking over his shoulder, and daring to tell him what he can and can’t do. And I’ve long said that if you remove the fraud, that Mom and Pop bodega couldn’t turn a profit selling leases on Victory Gardens.
And the fun never ends. Traitor Tot has vowed to appeal within 30 days. But will he? Don’t be so sure. By now you’re all familiar with those pesky surety bonds to ensure payment of a judgement. The normal procedure would be to go to a bank for a loan, laying down 10-20% of the bond, and offering up real estate collateral for the balance in order to get the loan. Which fires up two problems in the judge’s ruling.
First let’s say Trump doesn’t have the money. He wants to quietly sell some assets to cover his ante into the pot. No. Most of his New York assets that he could are under the control of the receivership overseer. Trump can’t touch those without the approval of the receivership overseer as well as Judge Engoron. And that means legal paperwork that will become public record.
Second, the judge barred Trump and his organization for even applying for a loan from a financial institution that is chartered in New York state. The bank doesn’t even have to be located in New York state, if they’re licensed to do business in New York, and who isn’t?, he can’t use them. So where does he go to get some $2350-300 million in bonds, and what does he use as collateral?
Forget the money. At its heart, it all revolves around Trump’s ego. And Judge Engoron plunged a dagger through his ego. He can’t even run a parling lot in New York for the next three years, and when he can, he’s going to have not one, but two people looking over his shoulder at everything he does. For the first time since he set foot in Manhattan 45 years ago, Donald Trump has bosses.
And the Democrats have a guaranteed winner campaign ad and slogan, Trump wants to run the country for the next 4 years. But a New York judge won’t even allow him to run his own business for the next 3 years. I rest my case.
I thank you for the privilege of your time.
A question: How does the ruling that has come out this civil case impact on other up-and-coming cases – either civil and or criminal – on Don Don, and or his family members?
I listened to an analysis of the interest on each judgement…the total owed is far greater than the judgement because the interest goes back years in some cases. The fraud is laid to waste for him and his pissant sons. He really can’t afford to appeal, especially given he has criminal cases in process and lawyers ain’t cheap. Gotta go. My popcorn is ready!
Here’s Forbes estimate of his net worth:
https://www.forbes.com/sites/danalexander/article/the-definitive-networth-of-donaldtrump/
About $ 2.6 billion as of September of last year, with $ 426 million in cash. Forbes’ estimate could be imaginary. Other assessments a few years back said he had largely liquidated his real estate assets and depended on licensing his brands as his chief source of income. How much are those brands worth today? If I were a London bookie, I’d put odds on him being broke and headed for personal bankruptcy soon.
Trump has run out of money before, and always could get more from Russia. Could he still do that? He’s still an asset. He controls an entire party of the United States. Or does Putin see the writing on the wall? Because they are going to fund Ukraine.
I would imagine that, following the judgment here, Trump’s every financial move is going to be under a very watchful eye. He can’t just *suddenly* come up with money without declaring its origin, especially when we’re talking millions or tens of millions of dollars. Banks are required by law to report ANY transaction in excess of $10,000 so if Trump wants to evade trying to explain where he managed to come up with the requisite millions of dollars he needs, even just to file an appeal, he’s going to have to fleece a hell of a lot of people out of “donations” less than $10,000–just to put the number in perspective, to come up with just a simple million dollars, he’s got to get at least 101 donors to pony up $9,999.99 apiece.
And, let’s face it, while his millions of fans/supporters would be willing to donate to his political campaign, I’m not so sure they’d be willing to help pay off his business debt. I mean, sure, there will always be the gullible horde who’ll send him money no matter what, but such a request for “contributions” might finally cause the scales to slip from the eyes of far more people who might finally be wondering, “If he’s really worth the money he says he is, why does he think my $25 donation will help?” (It’s also worth noting that putting the squeeze on the rubes to help him pay off the judgment will certainly leave them less able to continue donating to his political campaign–if they think any of that money is even going to his political campaign in the first place.)
a pair of “influencer” grifters put up a GoFundMe for him!
this violates GFM rules.
they probably intend to grab the proceeds for themselves.
they are scammers in Trump’s own image, right down to the “university”
and it would take many years at the current rate to raise the amount of the judgements.