A thought that is specifically related to this judgement, but applies to Trump overall as well. We’re currently talking @ 88 million USD in liabilities from this Civil Trial. Previous reporting on Trump showed substantial debt and refinancing needs coming over 2024-2045, and of course more down the line. While interest rates aren’t going UP at the rate they were earlier, his financial “creativity,” his oft-toxic brand, THIS judgement, plus very likely future judgements will hopefully have substantial impact on his ability to float that earlier debt. At least, with impartial lenders, shall we say.
Has there been any informed reporting on this? The last I saw was last year:
Which likely would have covered much of the reported upcoming debt from earlier articles. But the issue remains that with this judgement and others to come, what liquidity is Trump going to leverage to cover them (after several years of appeals of course)? Or is the myth going to start to crumble if properties have to be sold to cover said debts.
(mods, I fully acknowledge this question while prompted by the Carroll case may verge into being it's own topic, if so, I pre-approve of spinning it off into it's own thread, but was trying to stop the hydra of endless Trump threads)
Strike that, it’ll need to be spun off, sooner or later, why make the Mods do the work?
I am slightly haunted by the notion that a $100 donation from each of 10,000,000 MAGA faithful gives him a haul of a billion dollars.
I think his civil troubles are more nuisance than anything else. His criminal trials may very well be another matter.
If Trump does NOT bleed his base dry, and if nothing happens to break their cultish and slavish devotion (and it’s nigh unto impossible to imagine what scenario this could be), this will truly be the only ‘job’ he’ll need to have for the rest of his life.
He’s on quite the tightrope right now. The criminal Sword of Damocles hangs over his head, but if he can skate on the Mar-A-Lago docs case and Jack Smith’s ‘election interference’ charges, he may let the real estate thing blow away, or hand it over to the kids.
Pretty much this. Trump is 77 years-old now. He has been expert at kicking the legal can down the road his whole life. He will do the same here. He will appeal and appeal and draw each out as long as possible and do whatever other delaying tactics he can manage. It’s the first page in his playbook.
He is likely to die of old age before he writes a check to E. Jean Carroll or the IRS or anyone else. He doesn’t give a shit what his heirs will have to deal with.
Re: The loan to Trump from Axos. I read this from an NBC news article: (bolding is mine)
In mid-February, Axos refinanced a $100 million Trump Tower mortgage due in September, a New York City Finance Department document shows. The new loan was made just days after The Trump Organization’s auditor resigned, saying that 10 years of the company’s financial statements could not be relied upon.
In lending to The Trump Organization, Axos is stepping up when other banks have balked. But this is not unheard-of for Axos. An examination of legal filings, internal documents and land records shows Axos has a history of handling atypical loans.
Axos has teamed up with nonbank lenders on loans to small businesses that carried cripplingly high double- and triple-digit effective annual interest rates, loan documents show.
I really wonder what the terms of this 100 million dollar loan were…
In addition to the Carroll awards and a possible large fine coming in the loan fraud case, he’s also got Rudy’s bankruptcy executor about to demand that he pay some legal bills (I expect that case to go on for a long time as he contests the amount owed) and the Trump Org examiner nosing around in some very untidy accounting practices, which could lead to back taxes, penalties and even additional fraud charges.
Some or even all of these problems could go away if he wins in November. Which makes him a very dangerous animal right now.
The bank’s CEO is a republican/Trump toadie. I haven’t seen the paperwork but my guess is an interest only payment with the principle due at the end (balloon payment) that Trump will roll over at Axios or elsewhere (assuming he’s still alive).
“Its CEO, Gregory Garrabrants, has contributed $50,000 to Republican campaigns, including $9,600 in support of Trump, since 2012, according to records with the Federal Election Commission.”
Yeah, that’s one of the reasons I decided to create a spin-off topic about post-Judgement financing. There are so many, personal and business (to the extend Trump doesn’t incestuously intermingle such things) - that I figure trying to keep it in each specific legal thread was going to be a nightmare of posters saying “oh, I forgot which thread I was in!”.
Oh, and in case someone pops in who hasn’t read the articles and supporting information: Axios who has already handed out several lifelines is privately held. So, yeah, no direct shareholder oversight or responsibility before it comes up.
I fully accept the correction and lazy work on my part! Thanks for keeping us honest @Railer13.
I think Rudy would have turned already given his current circumstances if he’d preserved anything actually incriminating, rather than Trump’s mob-boss like level instructions. He’s been pretty hammered (in multiple meanings!) in the lawsuits he’s lost, and seems unlikely to claw much if anything back on the merits of the cases. I -think- he’d have tried blackmail/turning state’s evidence before the long-shot of using bankruptcy.
Plus, at least in one of the Rudy threads, it was indicated (by Rudy’s former spouse I believe) that Rudy was doing a lot of the ‘work’ for Trump as some flavor of personal favor and getting similar ‘favors’ in return, rather than traditionally billed hours. So that might come around to bite him in the ass as well when it comes to attempting to recover from Trump (or his estate if it takes that long).
I’d have guessed Rudy was too pickled to have done anything as smart as preserve evidence, but I was just musing that, now that he’s basically ruined and knows Trump won’t save him, he might lash out and try to damage Trump by publicly renouncing the Big Lie or revealing something else he considered scandalous.
Not that it would change one MAGAt’s mind, but it could be entertaining as hell.
Ah, yes. A spoiling attack. Yeah, makes sense. But I doubt he will (unless he’s out of his mind with booze or the like and his emotion gets the better of him, a real possibility) - even if Trump keeps him at arm’s length, he might get SOME support from various Republican/MAGA sources if he keeps the appearance at least of loyalty. Once he turns, well, that’s one less source of $$$ to stave off his creditors and support the lifestyle he obviously loves.
Personally, I think Rudy is also emulating a Trump tactic in running out the clock: figures he can delay everything and continue to maintain said lifestyle until he falls over dead, and give a final finger to his creditors.
Back to Trump though, I always wonder if his heirs have such worries about the state of things. These debts and double-downing are putting any actual assets at risk, along with the multiple microscopes that came down during the administration and are even now snowballing. Of course, if it’s -all- a house of cards, they have just as much reason to prop it up as Trump does, but if not each time Trump defames Carroll or otherwise shits the bed, they’ve got to be wincing at tens of millions out the door - because I don’t think any of them have his talent for grift and attracting psychofans.
I’d speculate that Eric and Junior might. Ivanka and her husband are doing well as long as Jared is able to keep out of trouble. I don’t know if any of the deals he had with the Saudis will come back to bite him.
Tiffany is an educated woman with a real career and can take care of herself. She escaped the circus it seems.
Barron, it’s going to depend on how much money Melania is going to be able to hang onto. If Trump goes bankrupt that might dry up her cash also. I’m not sure if she has money that creditors won’t be able grab on her husband’s behalf. She and her son might be too tangled in all this to get out unscathed.
Of course, this is all relative. “Financially destroyed” for Trump’s heirs might just look like being as poor as the average American, which relatively speaking isn’t that bad.
Would a divorce put Melania in a safer financial position? IOW, a creditor with a claim on the soon-to-be liquidated assets, as opposed to a co-owner.
I know the speculation re: the renegotiated “pre-nup” was that it was sweeter for M, but only if she remained in the marriage, so that might be the answer. But if bailing on the marriage reduces her post-nup claim, but she gets to line up with the other creditors—well, better that than a larger claim secured by an asset base soon to evaporate.
I was going to say “Because they’re likely to be terrible investments” but that would be right in line with Jared’s previous business decisions so who knows.
Well, it helps when you can get Daddy to use US policy to rescue you from the massive liability coming due because you paid stupid money for central NY real estate.
