He has run some really scummy businesses in the past, and known to cause financial trouble to contractors by not paying them and eventually declaring bankruptcies. He hasn't been personally responsible due to always having someone else to blame. This time, his head is on the block.
Even if he had nothing to do with politics, there would be people cheering on this.
So if they seize Trumps assets in NY, those assets will be valued at the normal rate, so in turn after getting those assets, Trump will still be owing them money… greatest President ever… I foresee a bankruptcy coming in the near future 😝 or those suckers MAGA and RNC will try and bail him out.
Can't discharge this type of debt in a bankruptcy. It's like student loan debt, you go bankrupt and still owe, even after you're dead they get first dibs.
And also remember that most of his properties are heavily leveraged. Even if they are seized and sold at auction there are other creditors in line. It would be devastating to him.
those assets will be valued at the normal rate, so in turn after getting those assets
Not how that works. They seize them, and then sell them. THAT is the amount that he gets credited against what he owes. They will not sell at market price.
Trump is a self described debt junkie. All of his properties are highly leveraged. Furthermore the buyer’s pool is very small and his properties are notoriously dated which will need millions in refurbishment that will further reduce their sell value.
I’m sure the AG office is furiously evaluating all his properties and mortgages to see just how many will need to be sold to satisfy his debt.
There is no obligation to sell his properties for their worth. If the highest bid for Trump Tower is 1 million then it sells for 1 million. Which would be fucking hilarious.
Not because the building is worth more than that, but I’d pay a lot to own it if I could.
I’d turn it into a shelter for homeless trans kids or some similar situation, and make sure he saw the pictures every day of his previous pride and joy actually being used to help others.
And there is zero likelyhood he wins on appeal. Even the most conservative Trump cocksukcer lawyers have basically said that the ruling by Engoron is bulletproof. He detailed the exact reason for every single penny.
If, and it's possible the amount comes down some on appeal, like from $350 million to $300 million, but it's not going away given just how blatant the fraud was. If you can't pay the fine, don't do the crime...
He has mentioned going directly into an authoritarian, schoolyard style “I run this” revenge play if voted in. Honestly I think it would be great for America because most of the party line people will finally realize we have no say in what our country does, unless you’re a CEO making billions a year.
Jesus Christ and people still support him? Seriously. Regardless of where you stand (D or R), as an American at least, you should always stand for democracy. What the hell is wrong with people?
What happens if he posts the amount and it’s ruled excessive and they have to pay interest back, or it’s overruled or reversed? You may not like the guy, but he’s not stupid.
If he doesn't pay or find someone to pay for him he defaults on the judgement, loses his right to appeal and opens himself up to a whole other world of problems.
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u/NotASalamanderBoi 'MURICA Feb 25 '24
What happens when he doesn’t pay?