As the headline indicates among the Trump related news today we have a couple of significant developments. If you’ve been following the saga of Trump’s civil court case losses in New York you’re aware he’s had trouble coming up with way over a half-billion dollars needed to appeal his (second) loss to E. Jean Carroll and the even larger loss to the State of New York. He’s pleaded for time, tried to “negotiate” (which apparently NY State Law doesn’t allow) down how much he has to come up with and been told no.
Earlier today I learned that technically he doesn’t have to post the bond to actually file his appeals, but failing to do so in time means that while the case(s) are being appealed those who beat him in court can start taking the necessary steps to collect. Bluntly speaking to stop enforcement of the verdict at the end of the thirty day grace period allowed under the law he has to post bond or put the cash in escrow (which he did for the five million verdict from the first Carrol trial which he lost) to the tune of 110% of the amount of the judgement(s) against him.
For all his bragging, Trump didn’t have a half-billion plus in cash on hand. And while he’s got assets in the form of buildings and properties many, if not most have been used to obtain loans. THAT means he’d have trouble using them as collateral either with the court of a bond agent because a creditor with an existing lien would be first in line to collect if such a property had to be sold. Worse, the loan terms might well contain a clause that would allow a creditor to call the loan right away – and if Trump couldn’t pay up they’d be able to seize the property.
Given all that if you’re like me upon hearing the news Trump posted almost 92 million bucks bond to stave off enforcement of the Carroll judgement while it’s being appealed is where did he get the money? Well, we have an answer to that provided by this article from Rolling Stone:
The bond was guaranteed by the insurance company Chubb. Notably Evan Greenberg, the CEO of the company, was a Trump appointee in his administration and served on the former president’s Advisory Committee for Trade Policy and Negotiations.
Think over what’s in that blocked out statement. One of Trump political appointees bails him out, as he happens to be CEO of the bond company. Keep in mind Trump was almost out of time. He had until the close of business Monday or Carroll’s lawyer could start the process of collecting. Trump had to be sweating and the begging and pleading he did on the record (who knows how much groveling went on we DON’T know about?) made it clear he both didn’t have the money and couldn’t find a guarantor. Like a licensed bond agent/company the court would recognize as legitimate.
What I can’t help but think is the Greenberg was more than happy to do Trump a solid EXCEPT for the fact that CEO or not he had a board to answer to. I can easily imagine board members/partners saying: Ninety million? This guy has stiffed people his entire life and if we’re going to be on the hook for that kind of money we are going to need more than a promise from HIM. But out of the blue, today Trump was able to present the court an acceptable bond agreement. That brings me to the second piece of significant news.
It’s was announced recently that Ronna McDaniel had been forced out as head of the Republican National Committee. Not really a surprise but the notable thing was Trump then letting it be known who he intended to install as co-chairs and in other key roles. Daughter-in-Law Lara Trump (Fredo 2 aka Eric Trump’s wife) would be a co-chair but the other co-chair will be her fellow North Carolinian (and staunch Trump guy as well as being hugely connected in NC which will be a swing state) Michael Whatley. And senior campaign adviser Chris LaCivita will is the new RNCs chief operating officer. As Ursula has written about in multiple articles here on PZ (Murfster too) Trump will be in control of all the money that flows into the RNC.
In an article by Politico assurances are going out that no, the RNC won’t become Trump’s personal piggybank and be paying his considerable legal expenses. Sure. Y’all got a box of Trump Steaks and/or a case of Trump Vodka to go with that? Although not directly addressed in the article I saw reporting from the RNC about a proposal that had been drawn up to formalize, in writing and adopted by the RNC members a guarantee of that. That Trump was on his own when it came to legal expenses and the RNC funds could be used to help his actual campaign expenses but also that down ballot races would be funded too. In other words, a “contract” to ensure no funny business. Trump would have to account for having used RNC money for actual campaigning and not for personal use.
It got tabled. Never came up for formal consideration, much less a vote. I don’t know about you, and sure as hell don’t have a clue over what mental malfunction causes people to become MAGA cult members or too cowardly to stand up to Trump and MAGAs but I’m skeptical that promises of no funny business with the money will be kept. I just hope both state and federal authorities are keeping tabs on and establishing lines of communications with staffers. Folks who might tip them off with information that would allow them to subpoena records. The kind of money I’m certain will be raised for one purpose (funding campaign activities whether for Trump or down ballot candidates) that gets re-directed to meet Trump’s personal needs will be enormous.
I think a good place to start would be Chubb Insurance. Sorry folks but I don’t believe for one second that Trump’s takeover of the RNC and Chubb providing an almost 92 million dollar bond is mere coincidence. Folks at Chubb, a reputable company not connected to Trump will want some type of guarantee. And LaCivita providing some type of assurance that the RNC was good for the money might have convinced them to let Greenberg go ahead and put up the bond. At one time, before Trump and his machinations were being illuminated by klieg lights that might have been an okay risk. Now? It’s one helluva gamble.
The literal bottom line is that I don’t believe it’s a coincidence that Trump got control of the RNC and found a company willing to put up the Carroll bond the very same day. Smells like fraud to me.
There are no coincidences when Trump and money appear next to each other.
There is fraud and theft, guaranteed.
Something stinks and it’s not just Trump’s pants!
I don’t think rnc has enough money to cover the bond. they don’t seem to doing great fundraising. I suspect that it is more likely musk who maybe got a promise of control of truth social or something like that.
The court monitor needs to stay on this development like flies on a freshly laid turd. Let him grift the RNC. Phuck those morons. Oh, and let’s not forget the next one will require much much much more money. Hey muskrat. Feel like pissing away over a half billion? Go for it you nazi basterd.
I saw the picture and headline, and the first thought I had: Orban has/is/will be soon visiting, and that, also, widens the donor pool….
This is the best possible outcome. trump will drain the RNC coffers to fight his legal battles and any candidate down-ballot will have to scramble to find funds to run their campaigns. It wouldn’t be surprising to see many House Republicans throw in the towel and quit politics. The mad maga messiah and his daughter-in-law are going to raze the GOP like Scipio razed Carthage, even to salting the soil.
Regarding my previous comment: I left this post and Ursula’s post popped up to tell of the RNC’s capitulation. Your hypothesis is/was correct about his paws getting all over the treasury. However, I still wonder about all of why Orban is visiting Trump….
“Although not directly addressed in the article I saw reporting from the RNC about a proposal that had been drawn up to formalize, in writing and adopted by the RNC members a guarantee of that. That Trump was on his own when it came to legal expenses and the RNC funds could be used to help his actual campaign expenses but also that down ballot races would be funded too. In other words, a “contract” to ensure no funny business. Trump would have to account for having used RNC money for actual campaigning and not for personal use.”
A “contract?” Someone in the RNC actually thought that the mere act of writing down words on a piece of paper and having Trump sign that paper would lead to Trump’s abiding by the terms of the deal?
Have they NOT learned anything about how Trump’s signature on a legal document means absolutely nothing? Considering the countless number of contractors and companies that have NOT been paid for doing the jobs which Trump or his various business ventures hired them, you’d think that even the most brain-dead members of the RNC (all of whom should individually have more active brain cells than all of Trump’s MAGAt supporters comibined) would know better than to expect to write any kind of document and have Trump actually abide by the terms of the deal.
Say buh-bye to all the money you’ll be needing for down ballot elections rnc–it will be gone in less time it takes for lara to mutilate someone else’s song-way less time in fact.
Wow, of all the stupid things the rnc could do, and it is a bit of a list, they choose the hands down most moronic. If their legislative “prowess”, behavior in congress, and s.c. rulings did not screw them badly enough, this will take them completely out of the game. Let’s hope permanently.