Lien on me
Show me the money. That, in effect, is what some 30 companies said when asked to put up a bond to guarantee Donald Trump will pay a $454 million civil fraud judgment.
And can you blame them? Trump wanted to put up some of his real estate portfolio as collateral for the bond that would allow him to appeal the judgment. You know, the real estate whose value he was found liable for inflating or deflating, depending on the circumstances.
New York State Attorney Letitia James, on the other hand, isn’t as concerned about how Trump finances the bond that would insure he pays the fine if he loses the appeal. She has an ace in the hole, the power to place liens on his property and hasn’t been shy about how she intends to protect New York taxpayers:
“[Y]es, I look at 40 Wall Street each and every day," James said of the standard court process for collecting judgments in civil cases.”
That’s the building Trump proudly proclaimed as the tallest in New York City in the aftermath of the collapse of the Twin Towers on September 11, 2001.
Trump has until Monday, March 25 to come up with the liquid assets, unless an appeals court agrees to his request to lower the appeal bond to $100 million (plus the cost to pay the guarantor). If not, James can act.
Trump, who loves to proclaim he’s so rich he isn’t beholden to anyone, is also a bit cash-strapped after posting $91.6 million to appeal judgments he defamed E. Jean Carroll.
So where does he get the money? He can liquidate some of his holdings in stocks and bonds. Or he can sell some of his real estate portfolio, at what would likely be fire sale prices.
Or he can turn to the Friends of Donald Trump. Are there American billionaires who might be willing to front the cash — in exchange for favors in a second Trump administration?
Or perhaps Saudi Crown Prince Mohammed bin Salman, aka Crown Prince Bone Saw, who set up former First Son-in-Law Jared Kushner with $2 billion for a private equity fund. And potentially another $1 billion for a merger of the PGA and LIV Golf tours that will hold tournaments at Trump courses.
Then there’s Russian President-for Life Vladimir Putin and his oligarch friends.
Remember Trump’s interest in a Moscow tower? Or the number of Russians who invested heavily in Trump’s U.S. properties?
And while Trump has railed against China, threatening 100 percent tariffs and a “blood bath” if he wasn’t elected, guess what country ranks high on the list of pumping money into Trump properties?
Worst of all, there is no guarantee the American voting public will know exactly who may have bailed out the erstwhile 47th President of the United States.
And don’t forget, Trump has already filed for bankruptcy six times when his financial house of cards collapsed previously.
Trump has been successful in delaying the four criminal trials he faces and he was conveniently bailed out of two impeachment convictions by Republicans who place party over country.
But the man who proclaimed he knew all about The Art of the Deal is running out of options to close this one.