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The Independent:
The former president secured the bond through the Knight Specialty Insurance Company.
Knight Specialty is owned by California businessman Don Hankey, whom MSNBC legal correspondent Lisa Rubin reports is known as “the king of subprime car loans”, specialising in lending to automobile buyers with poor credit ratings at high rates of interest.
“Hankey repossesses around 250 cars every day and his debt collectors have been known to spoof their caller ID so it appears that they are calling from the local pizzeria,” Forbes wrote of him in 2015.
Sounds like a perfect fit.
He is also a prolific Republican donor and the largest shareholder in Axos Bank, which was founded in San Diego in 2000 under the name Bank of Internet USA. The bank refinanced loans on Mr Trump’s Trump Tower complex in Manhattan and his Doral golf resort in Miami, Florida, in 2022, worth $100m and $125m respectively. Those loans are due for repayment by 2032.
… “I’d say it’s more of a business decision, but I happen to be a supporter also.” [Hankey said].
Well, yeah. His bank lent Trump big bucks, and if Trump had to declare bankruptcy, buh-bye $225M.
In for a dime, in for a dollar. Keep those car repos up, boys!
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The life of a repo man is always intense!
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"He also claimed that Mr Trump had put up the collateral in cash."
Obvious BS.
And of course, later...
"Mr Hankey told the network he could not recall whether Mr Trump also used bonds as collateral for the finalised bond but said his firm had carried out a review of the former president’s offering and found “grade-A bonds, investment grade quality securities”.
He never puts up his own cash. He famously stiffs even the restaurants where he dines out.
His real property is already leveraged.
So, what "investment grade quality securities...?"
Did he put up his stock in Truth Social? How much of it?
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Yeah, that "could not recall" part sounded like BS to me too.
Like this guy was just too busy repo'ing cars to know the details of a $127M $175M bond he just put up? For Trump?
:RollingEyesSmiley5:
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Hopefully Trump blows off Hankey’s bond just like he stiffs everyone else.
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Can we just drop all this talk of trump being bought and get back to Biden? Where did all that Chinese money go and why is there no record of it?? Hunter???
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jonny wrote:
Can we just drop all this talk of trump being bought and get back to Biden? Where did all that Chinese money go and why is there no record of it?? Hunter???
:ROTFL:
northern california coast
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steve... wrote:
[quote=jonny]
Can we just drop all this talk of trump being bought and get back to Biden? Where did all that Chinese money go and why is there no record of it?? Hunter???
:ROTFL:
Where is the lost city of Atlantis and when was Hunter Biden there and who gave him the Oak Island treasure and what did he do with the Ark of the Covenant?!!
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Will someone explain something to me… If Trump posted all cash collateral for the bond, why didn't he just pay the bond himself? With cash?
