Trump lawyers: he can't raise the bond amount

[GGD]

gabester wrote:
I hear he's broke because he put it all into Bitcoin when it was high last time and sold when it dropped...

People are saying that he's got a cocaine addiction and that's where all of his money went. Or maybe it's his son that has the addiction. They should start some hearings to get to the bottom of this.

BTW: Melania might want to file for divorce soon to get closer to the front of the line of creditors.

[Ombligo]

He has the greatest debt, debt like no one has seen before, people are say they can't believe the level of debt he has.

[rgG]

Where is my tiny, tiny violin?

[Diana]

rgG wrote:
Where is my tiny, tiny violin?

I think you wore it out. Hasn’t Amazon delivered yet?

[N-OS X-tasy!]

JoeH wrote:
[quote=GGD]
Perhaps, based on this case, no insurance company believes his stated valuation of the collateral he's putting up.

Or have looked closely at the properties to see what else they have been used as collateral for. Thy don't want to be behind other debt holders if they hav to collect. He may have properties worth over a billion, but if they are already collateral for hundreds of millions in loans there may not be enough value left for them to cover a $400 million plus bond.
Pretty sure in such a scenario the government takes its share first and leaves the remaining creditors to fight over what's left.

[DeusxMac]

steve... wrote:
Must be hard on his ego, having to publicly say he can't afford it.

Nah, as the quintessential narcissist he is, I’m sure he telling himself it’s all someone else’s fault.

[JoeH]

N-OS X-tasy! wrote:
[quote=JoeH]
[quote=GGD]
Perhaps, based on this case, no insurance company believes his stated valuation of the collateral he's putting up.

Or have looked closely at the properties to see what else they have been used as collateral for. They don't want to be behind other debt holders if they have to collect. He may have properties worth over a billion, but if they are already collateral for hundreds of millions in loans there may not be enough value left for them to cover a $400 million plus bond.
Pretty sure in such a scenario the government takes its share first and leaves the remaining creditors to fight over what's left.
Except that isn't the scenario that applies on this appeal. If he came up with the bond amount and lost the appeal, the company that supplied the bond would be on the hook to pay the government the $400+ million. Then they are in line to collect on the collateral he provided at the time the bond was given. But prior debt usually takes precedence, and they collect after those debts.

[vision63]

JoeH wrote:
[quote=N-OS X-tasy!]
[quote=JoeH]
[quote=GGD]
Perhaps, based on this case, no insurance company believes his stated valuation of the collateral he's putting up.

Or have looked closely at the properties to see what else they have been used as collateral for. They don't want to be behind other debt holders if they have to collect. He may have properties worth over a billion, but if they are already collateral for hundreds of millions in loans there may not be enough value left for them to cover a $400 million plus bond.
Pretty sure in such a scenario the government takes its share first and leaves the remaining creditors to fight over what's left.
Except that isn't the scenario the applies on this appeal. If he came up with the bond amount and lost the appeal, the company that supplied the bond would be on the hook to pay the government the $400+ million. Then they are in line to collect on the collateral he provided at the time the bond was given. But prior debt usually takes precedence, and they collect after those debts.
Release the hounds.

[steve...]

rgG wrote:
Where is my tiny, tiny violin?

[$tevie]

Ombligo wrote:
He has the greatest debt, debt like no one has seen before, people are say they can't believe the level of debt he has.

Perfect.