If a construction firm comes up with an estimate for tearing it off and dumping it in the river, I’ll happily contribute to a GoFundMe to make it happen.
Fox News is actually reporting the story, I presume because there are not yet Trumpist twuths and bloviations to report instead. Fox does, however, have a picture of Judge Engoron at the top of the story. It seems like a cunningly insidious way of implying that the ruling is just the personal opinion of this guy we have up in this picture, rather than a proper judicial determination. 
The New York Times and Boston Globe have both put up stories about it; got emails with the links a half hour or so ago.
I’m not sure any NY banks would have touched Trump in the last while anyway.
Eh, no doubt he can find a financier to front him the money, right? /s
Trump Org. Has a court-appointed monitor for at least the next 3 years. Her task is to make sure it isn’t “ business as usual.”
Perhaps the Saudi Investment Fund can be convinced to give him a loan with a favorable rate. Isn’t there 2 billion dollars sitting in Jared’s piggy bank?
Jared’s investment company manages a $2 billion portion of the fund. He doesn’t have any of it personally.
Perhaps he can sell Mal-a-Lardo for the $1.something billion that it’s worth. He’d have change leftover after settling his debts.
I doubt it would go well if he tried to post the appeal bond in rubles.
But can’t he still secure funding from Out-of-state sources? I have a related thread where he was bailed out by Axos for some of his most recent refinancing requirements. Presumably, sufficiently motivated entities (repeating myself) could prop him up - although I don’t know if there are tax or other concessions for out-of-state financing that would be compromised.
There’s a thankless job. Hope they have good security.
All the major banks are nationally chartered. I’m not an expert on either banking regulation or on the details of this judgment, but at face value I don’t see why a prohibition on doing business in NY State would prevent Trump from borrowing from any major bank to conduct business outside New York. If they were willing to lend to him, of course.
And presumably a bank could lend him money secured against his NY properties (or indeed buy them) to pay the judgment. Surely the prohibition on him doing business in NY would not prevent him from utilizing NY assets to pay the judgment.
I just read the ruling–fascinating stuff. What a bunch of crooks. Engoron has an engaging writing style. I know they’re going to appeal, but I don’t really see on what basis. I guess we’ll find out if he has $40M to drop on a bond. If I were a bond agent I’d ask for more than 10% myself.
I’m listening to MSNBC on Sirius, and am unsure who is speaking, but I just heard concerning interest (paraphrasing):
“If this drags on, these numbers could skyrocket. I’m not sure what interest rate…”
Someone else: “I think nine percent.”
“We might have to change our banner headline already.”
Turn it into a garbage scow, maybe? I’d give to that.
I believe the order says he cannot borrow from a financial institution that is chartered to do business in NY. I think that means he cannot go to Lubbock and take out a loan from the local CitiBank, because, while they are nationally chartered, they are also chartered in NY.
You may be right, but the pundits on MSNBC seem to think this restriction is a significant problem for Trump.
Ah, thanks - if that’s the case, that is indeed a huge problem for him.
I know that you meant “$400M,” but that’s okay.
I doubt he’ll find a surety underwriter to accept his business. They are very choosy about the court matters that they underwrite, and typically won’t write a bond unless they are 99% sure they won’t have to pay it. On the rare occastion when they do, they will subrogate, and they won’t quit until they get paid back. Regardless, they will collect their fee regardless, which may not necessarily be 10%; it could be more.
Remember, at this level of surety underwriting, Trump won’t be dealing with Dog the Bounty Hunter. He’ll be dealing with knowledgeable and savvy business people, whose job revolves around studying financials and other sources of information, and assessing risk; and if the decision is made to underwrite a bond, then pricing it appropriately.
I’ve known a few surety underwriters. I’m confident in saying that none of them would accept Trump’s business.
Ah, but I’m sure he could convince his investment company that a loan to the future president Trump would be in everyone’s best interests.