SFGATE columnist Drew Magary writes about the financial implications of Donald Trump's offer to pay only a fraction of the bond in his civil fraud case.
EDIT: Looks like this judgement was lifted yesterday. TIL
~~No, he can’t walk into any bank, because he is literally barred from taking any loans from banks in New York. That was part of a previous judgement. And since many of the biggest American financial institutions operate out of NYC, he’s pretty fucked in that regard.
He would have to rely on wealthy friends (who are extremely wary of his situation) or foreign banks that will offer him incredibly predatory conditions since they know he has no choice but to accept~~
When the appeals court told him he had to post full bond they put a stay on the judgements that barred him from getting loans in NY and the one that prevents him from running a business. So until his appeal process is complete he can still get loans from banks in NY. And everyone with an interest in these crooked feelings, likely including NY banks, wants this overturned and will be willing to help him through that process.
Associate Justice Anil Singh, however, lifted a ban on Trump’s ability to obtain loans from New York regulated financial institutions, which could allow him to access the equity in his assets to back the full bond amount.
EDIT: Looks like this judgement was lifted yesterday. TIL
~~No, he can’t walk into any bank, because he is literally barred from taking any loans from banks in New York. That was part of a previous judgement. And since many of the biggest American financial institutions operate out of NYC, he’s pretty fucked in that regard.
He would have to rely on wealthy friends (who are extremely wary of his situation) or foreign banks that will offer him incredibly predatory conditions since they know he has no choice but to accept~~
The man’s CFO is in jail for fraud. I believe the NY AG referred evidence of Bank Fraud to the Justice Department. That’s a federal crime.
When the appeals court told him he had to post full bond they put a stay on the judgements that barred him from getting loans in NY and the one that prevents him from running a business. So until his appeal process is complete he can still get loans from banks in NY. And everyone with an interest in these crooked feelings, likely including NY banks, wants this overturned and will be willing to help him through that process.
Citation please? I seem to recall that he was trying to get a stay on that judgement but was denied
Yeah it just came out yesterday.
https://www.cnn.com/cnn/2024/02/28/politics/donald-trump-appeals-court-new-york/index.html
Thank you very much! Updating my reply
No problem! It’s so hard to keep up with everything. Someone please wake me up when real consequences hit. 🙏
It really is :/ Shit gets crazier every day
Not relevant. The banks won’t loan to someone under 91 indictments who also owes 400+m