Maybe so. But DWAC has always been sketchy, garnering SEC attention. In my opinion, DWAC was formed to pump cash into Truth Social’s coffers, only to dump shares later on. Tangling with the SEC was always baked in. Part of the business model, again IMO
Other DWAC inside shareholders would certainly like a shorter lock-in period. Barrons lists 6 members on the Board of Directors. I don’t know who will be on the DJT board. Most shareholders are retail investors, not institutional investors: it’s a MAGA meme stock. I would expect it to drop 75%+ over the next year.
We’ve seen this movie before. Trump floated shares during the 1990s, had the firm buy debt that he personally held, then stepped aside as the stock cratered.
Fun twist: DWAC is a SPAC and apparently was not part of the Wilshire 5000. I suspect DJT will be part of it. The index is modified monthly, and happens after the close of trading on the 3rd Friday of the month. That would be April 19th. Wilshire 4500 methodology. That’s a potential source of support. As for short sellers, it can be difficult to borrow shares of IPOs. Or SPACs for that matter.
Speaking generally and not about any stock in particular
That’s the thing about buying small cap index funds or total market cap index funds. There’s a certain degree of exposure to scams, or at least risk of the same. Maybe pennies on the $100, but still.
I think Trump just posted that so that on Monday when the bond suddenly gets paid, he can claim that it was from his money (the money I wanted to use to save America!) instead of an anonymous benefactor. Is it required the courts or the AG have to make public how the bond was paid? Or if they know that Trump’s bank account suddenly acquired 1/2 billion dollars over the weekend?
Yeah, it’s kind of a moot point if it gets out or not. Trump doesn’t care what anyone else knows as long as he can get MAGAs to believe the money came from him. Anything else will be fake news.
Gift taxes, which are hefty, are paid by the donor. The top marginal rate is 40%.
But if the donor is a foreigner, they are not subject to these taxes. Huh. You need to report large gifts from foreigners to the IRS (presumably in 2025 for 2024 gifts), but you won’t owe taxes on that. Cite.
As much as I like the idea of Trump facing consequences for his obvious lie, I think it would be hilarious if the judge just took it at face value that Trump has the money to pay the bond but is choosing not to and accepts the consequences for that (which of course Trump will not do because he doesn’t accept the consequences for anything).
It reminds me of before I was diagnosed with ADHD. I was taking a History class at the university. As was my habit at the time, I did not hand my assignments in on time. After the course had ended, I told the professor I fully intended to get those assignments to him. He said no, the course is over. And that was it, that was the final word on the subject. I hope the judge is able to do something similar with Trump. You had your time to appeal, you didn’t do the thing that you knew the whole time you were going to have to do and you can’t do it now so (insert however you say “take off, you hoser” in judge-speak).
Could be. But the SEC doesn’t just slap wrists for egregious, premeditated offenses. The fine will be “whatever profit you realized, plus a bazillion dollars.” They like to make sure their message isn’t missed.
So, unless their CBA calculations included “strong chance you’ll end up losing lots of money,” they might want to take a second look.
Illegal!! Illegal?? That would be decided eons into the future, possibly with any action overturned by Presidential fiat or simply ignored by an sympathetic group of frauds ‘independent’ justice department.
CNN article on how the AGNY is likely to proceed if Trump doesn’t post bond:
start with cash, because it’s easiest; look for bank accounts; send in bailiffs / marshals with a court order; bank gives cashiers cheque, which then gets deposited to NY state accounts.
then, NY real estate; that takes longer; must post the claim against each specific property for 60+ days; then a public auction of the property; article doesn’t mention how claims by secured creditors on each property get satisfied; my guess is that it will slow down the process for each property, because the terms of the mortgages will likely vary with each property and lender.
out-of-state property is more difficult; AGNY doesn’t have lawyers on staff in other states, so would have to hire private firms, who know the enforcement laws in their state.
the white whale: Mar-a-Lago; in addition to the out of state issues, Trump may have a homestead claim to at least part of the residence; how that squares with his status as « employee » under the municipal law likely to be an issue.
But apparently today is not the day.
My question is: why not?
Why is New York delaying enforcement?
“Under New York law, Ms. James could have enforced the $454 million judgment once it became final last month, but she provided Mr. Trump a 30-day grace period that expires on Monday. Although Ms. James could move to collect at any moment, she is not expected to take any aggressive action Monday.”
I realize that any collections will be long and complicated. But it would be good PR to begin immediately, wouldn’t it?
I imagine they’re moving very deliberately behind the scenes; they’re not delaying or giving him any real breaks, but they’re not going to rush it just for a photo op of James with the Trump Tower welcome mat under one arm.
Ultimately they’re probably hoping he comes up with the money. We’d love to see him lose his properties but liquidating that shit is gonna be a pain in the ass. They’d rather get a check.
