So goodbye yellow brick road, where the dogs of society howl Elton John Goodbye Yellow Brick Road
You know, in the current Trump downfall sweepstakes, everybody keeps fixating on the size of the numbers, simply because they’re so unimaginable for a single person. But there’s actually another aspect at play here, and one that nobody is really looking at simply because they’re fixated on that vapor trail of zeroes in the judge’s ruling.
For instance. Right now Traitor Tot is some is some $105 million short for the ante if he wants to appeal the judge’s decisions in his E Jean Carroll case. That’s just the base $120M NY deposit, not including any interest that has already been assessed. And when it comes to the Judge Engoron ruling, His Lowness is an even more startling $460 million light to the pot. The burning question on everybody’s lips is, Can he even possibly come up with it?
I have a different question, but first I want to set the record straight. And here it comes, the straight sh*t, which keeps getting lost in the 3rd world GNP numbers Trump is looking at.
Trump. Is. A. Loser. Don’t ever lose sight of that. these rulings are definitive. One NY jury found that Donald Trump sexually abused writer E Jean Carroll, then defamed her with slander and lies. A 2nd NY jury found that El Pendejo Presidente repeatedly continued to defame Carroll after the original ruling. And held him responsible for a combined $88.5 million in damages. And New York Judge Arthur Engoron found that pretty much from its inception, the Trump Organization has been nothing more than an increasingly intricate and labyrinth Ponzi scheme. To the tune of some $455 million in fines.
That’s it. Case Closed. This is the critical part. In order for a defendant to appeal a decision, The law has seen 3rd rate fraudmeisters like Trump over and over again. So if he wants to appeal in order to delay the inevitable, then he has to pony up the total damages, plus 20%.
Which means that in order to appeal these verdicts Traitor Tot has to pony up 20% of the total in cash, and the rest of it in transferrable assets. And every penny of that has to be put under the control of an escrow account to await the appellate court’s ruling. To put it bluntly, if Trump appeals both rulings, then he permanently parts with more than a half a billion dollars. He no longer has any access to those funds unless released by the courts.
At this point I have to say that New York district Judge Arthur Engoron is my new legal hero. Better even than Perry Mason! He’s my hero simply because he’s obviously an acolyte of the Great Bard, William Shakespeare, Revenge is a dish best served cold. And man, did he come through in the clutch!
There were two parts of his ruling that totally hamstrung Trump from being able to quickly and easily raising the funds for the appeal. First, the judge took almost everything with the name Trump on it in New York state, and put it in receivership. That means that Trump can’t access any of those assets to try to back up his bond without court approval.
Second, the Judge prohibited The Trumpster Fire, his organization, and his monkey spawn from even applying for a loan from a bank that’s chartered in New York state. They don’t have to actually have a bank in New York state, they simply have to be registered to do business in New York state. Which almost every bank in the country is, since New York is the financial capitol of the world. Bee, maybe the 12th Bank of South Dakota can chip in?
Which means that Traitor Tot would have to leverage or put up physical real estate assets outside of New York in order to guarantee his bonds. Think Mar-A-Lago, think Trump Doral, think his Scottish golf club, think Trump Tower in Las Vegas. That kind of thing. He needs physical assets outside of New York that he can access to secure his surety bonds.
Which finally brings us to my question. Why would he? That cash is gone, dude! No appellate court is going to overturn those two rulings. At the very best, they chop off a few million in the Carroll settlement, and maybe chop a few million off the the Engoron settlement number. But once the appeals are done, the court is going to release those surety bonds to pay off New York state, and E Jean Carroll. Sorry dude, it’s all gone!
Think about this for a moment. If The Cheeto Prophet puts up pretty much everything he oens in order to appeal these rulings, and he loses, then if he can’t come up with more than a half a million dollars, the court is goiung to start selling off those assets to pay the check. It’s all gone. Everything.
Which leaves Trump with one option to avail himself of over the next 30 days. And funnily enough it’s the exact same option as his clown Prince Rudy Giuliani is using, as well as his bestie bud and King of Sleaze Alex Jones is using.
Personal bankruptcy. It’s not like Traitor Tot is a stranger to bankruptcy. Hell, he personally ran his Atlantic City, New Jersey casinos through four different bankruptcies. Which as I’ve pointed out in previous articles should be impossible, if you just balance your f*cking sports book! Trump has also bankrupted other company holdings when profitable for him.
But this would be different. All of Trump’s previous bankruptcy proceedings have been for his companies. But in Trump’s current travails, these are personal judgements, against Trump the person, and not the Trump organization. Trying to delay his downfall this way would require Trump to file for personal bankruptcy.
Let’s be frank. If Trump filed for bankruptcy, it would be unlikely to change the final outcome. Trump is personally responsible for the jury findings. And it’s unlikely that any bankruptcy court, whether for Trump, Jones, or Giuliani is going to give any of them any real relief for their judicial debts.
But here’s the McGuffin. Unlike Alex Jones and Rudy Giuliani, Donald Trump is not an individual. And The Trump Organization is not a monolithic entity. Every time Trump embarks on a new venture, he creates a shell corporation for that entity. For instance, His Lowness made a fool of himself yesterday by hawking $400 sneakers at a sneaker convention. You can bet your ass that somewhere out there tofay is a Trump Sneaker LLC corporation duly chartered somewhere. This provides Traitor Tot with a level of insulation.
If Trump goes ahead and files the appeals on his two cases, then he is going to put a major chunk of everything he owns into those surety bonds. And when the appellate court rules against him, those assets will be released by the court to be disbursed if he doesn’t come up with cold, hard cash. That process would be expected to take about 18 months to complete. Trump will be functionally broke.
But if Trump instead decides to short circuit the process, and file for bankruptcy, then the whole basic paradigm changes. If Trump files for bankruptcy, then once the 30 day limits to appeal the judgements expire, those judgements will be placed into abeyance pending the results of the bankruptcy proceedings.
And Trump wins. Because while the appellate process would take 12-18 months before the check comes due. the bankruptcy process will tangle on literally for years. Because of the lnature of the Trump Organization.
If Ursula and I decided to take Politizoom public, we’d create something like politizoom.com LLC. This would protect our personal assets from losses due to the normal operation of the website. And every time The Orange Sh*tgibbon comes up with a new venture, he creates a new LLC to protect him from personal exposure. At last count, I believe that the Trump Organization is actually a loosely basted umbrella company covering some 300 different corporate entities.
This won’t end up protecting His Lowness from judgement in the long run. Simply because it is Trump who is the sole owner of all of these fledgling companies. And as such, and as the law requires, when the bankruptcy case is finally settled, E Jean Carroll and the state of New York will be at the head of the line to collect their baksheesh.
But here’s why it matters. Because if Trump ponies up to put his assets into escrow to appeal those verdicts, it will take an estimates 12-18 months to settle, and his assets are gone. If Trump declares bankruptcy, then at least he retains nominal control of those assets for an estimated 4-5 years. He can keep the ego fulfillment of being a winner going.
But what does that do to Trump’s ego? Trump’s entire persona is that of the ultimate winner. This won’t be a case of corporate bankruptcy, it will be personal bankruptcy. Trump’s own personal assets will now belong to a bankruptcy court judge. How does Trump’s voracious ego manage to square that circle?
I don’t think it can. And as a result, Trump will find a way to scrape up the funds to appeal the verdicts, solely so that he can continue to bellow to the world that he’s the victim f a witch hunt, and that the weaponized Biden DOJ is trying to bankrupt him for political purposes. He will be able to use that lame sh*t to continue to fleece the sheeple to pay for his legal defense, and if he takes over the RNC, find a way to put them on the hook for his legal settlements. Don’t touch that dial.
I thank you for the privilege of your time.
“… then if he can’t come up with more than a half a million dollars, the court is going to start selling off those assets …”
Do you mean billion?
“Think Mar-A-Lago, think Trump Doral, think his Scottish golf club, think Trump Tower in Las Vegas. That kind of thing. He needs physical assets outside of New York that he can access to secure his surety bonds.”
But can he use FOREIGN property as collateral? I suppose he could always sell the property to another person or corporation but I’d think he’d first have to pay taxes (or some kind of fees) to the government where that land physically exists before any of that money could go to him.
many of his properties are deeply in debt, so even if he sold them, he wouldn’t get the full value. and I bet anyone accepting them as collateral is going to calculate that debt in, too.
I believe he also has a balloon payment on some loans due this year. around 400 million. that brings the total to around a billion. of course if he can sell 3 or 4 million pairs of sneakers then it’s covered even if the buyers never get the shoes.
he could also just sell the Trump organization and all it’s assets and continue to be paid for use of the brand name.
That brand is not worth much anymore. The gold plate has worn off and there’s nothing left but tin foil.
An amazing content, will love to come back and read more. Keep up
prawo
I believe the term George Carlin used is ‘he’s royally phucked’!
Murf, trump’s “empire” is more a House of Cards rather than a Ponzi Scheme. Sure, he takes money from the rubes but they are not investing in anything other than having a racist, misogynist, bigot as the leader of the U.S. I don’t see how that translates into luring investors and paying profits to earlier investors with funds from more recent investors-which is the textbook definition of a ponzi. We can bemoan all the money he bilks off his followers but they are not really investing anything. Merely purchasing something worthless.