Donald Trump Gets a Solution to His Cash Problem

Newsweek ^ | Feb. 28, 2024 | Kaitlin Lewis

[libstripper]

Donald Trump's request to pause the $454 million judgment against him in his New York civil fraud case was denied on Wednesday, although an appellate judge ruled that the former president could use loans to post the full amount.

* * *

Engoron ordered Trump to pay $355 million in fines plus prejudgment interest. The judge also barred the former president from serving as an officer of a New York company or taking out loans from financial institutions registered with the state for the next three years.

[libstripper]

This is actually a major win for Trump. Engoron, by prohibiting him from taking out any loans from New York banks, effectively prohibited him from getting loans to cover the potential liability for this judgment and the Carol judgment because the only banks in the country that are basically able to do this kind of loan are New York-based banks. Now that part of the Engoron decision has been stayed and Trump is able to get the loans he needs to cover his potential liability and his obligation to post a bond. Each of the judgments being utterly preposterous, he has an excellent opportunity to prevail on appeal, meeting he should be able to find banks to cover this potential liability.

[Highest Authority]

Call Elon!

[Honest Nigerian]

Well, that is encouraging.
But how about the DWAC - Truth Social merger? Isn’t that going to give DJT some additional resources? Not sure how it translates into cash availability...

[janetjanet998]

3.5- 4 billion at these stock prices

But Can’t sell any stock for 6 months

[ConservativeMind]

New York is INSANE and CORRUPT.

[Sacajaweau]

Yes...Said it yesterday...Hope he steps in...I think he will and tell the judge to eat dirt.

[PIF]

he should be able to find banks to cover this potential liability.
—

unless, like the lawyers, the banks are afraid of helping because they might lose liberal customers.

[sauropod]

Bkmk

[stanne]

Oh ya. Trump being beholden to Elon. There’s a good idea.

Is Elon American?

[V_TWIN]

“DWAC shares were trading for just over $49.50 on Friday morning, putting the value of that stake at roughly $4 billion. (Lock-up rules would prevent him from accessing any of that money until six months after the merger is complete.)”

https://fortune.com/2024/02/16/sec-greenlights-trumps-truth-social-public-offering/

[Owen]

It’s a matter of cash. Not assets.

Getting a loan for the cash obligation presents no problem because assets can be liquidated to repay the loan. Or if his appeal prevails, that posted bond will repay the loan.

[Kaiser8408a]

Elon could probably lend Trump the money, then that is all we will hear from MSNBC and CNN.

[V_TWIN]

“Is Elon American?”

Elon Musk holds triple citizenship:

South Africa
Canada
United States

[V_TWIN]

“Elon could probably lend Trump the money, then that is all we will hear from MSNBC and CNN”

If only one lib head explodes it’s totally worth it.

[FlingWingFlyer]

Egomoron needs a good swift kick in his third world commie ass.

[libstripper]

What about using it to secure a loan?

[Lockbox]

I wonder if the wording is such that the fines would allow them to be tax deductible, there are exceptions to deductible fines. Also now Trump can borrow the money, the interest expense should be deductible. Way to go NY.

[janetjanet998]

What about using it to secure a loan?
__

Not sure

[Political Junkie Too]

President Trump should use the same collateral at the same valuation for this bond loan.

-PJ

[BushCountry]

Now that the 1.7 trillion spend was declared unconstitutional all republican states attorneys need to file a lawsuit to remove any funding to New York that is still available.

Do Texas on steroids. The judge said if Texas would have sued for more provisions he would have struck those too. I am sure their are plenty of 5 year spending proposal in the bill for New York the dems wrote the monster.