Posted on 03/13/2024 5:31:37 PM PDT by SeekAndFind
For a guy who likes to talk so much, I notice even early in his career, Donald Trump never actually gave any insights into the financial details of his real estate empire. In the early 1990s, many Trump properties were overextended, like the Plaza Hotel and Atlantic City casinos, and declared bankruptcy. Ever since then, it’s been a game of speculation just how much money Trump really has. One has to try to read what few clues there may be.
In order to appeal the civil trials he just lost, Trump must come up with something around $500 million for the supersedeas bonds. Last week he was able to appeal the E. Jean Carroll case, securing a surety bond from Chubb Group.
This suggests Trump is in good shape financially and legally. I believe an insurance company will also step in for the second, larger Letitia James case as well. Chubb would not have jumped in for the one, unless they believed there are enough Trump assets to cover both. That’s basic underwriting.
They don’t want to guarantee one part of the Trump holdings, while another interconnected part is going down in flames.
Just my hunch also, but I would think there might be a whole syndicate of insurance companies trying to assist with Trump’s money issues for a while. They don’t want his empire liquidated and a subsequent fire sale loss by his lenders; they want to be as helpful as possible in financing his appeals.
And those appeals themselves hit at the heart of what drives insurance companies nuts these days—crazy trial court verdicts that award millions of dollars in unwarranted damages. Insurance company lawyers must have looked at what happened and thought the judgments against Trump will either be reduced
(Excerpt) Read more at americanthinker.com ...
The U.S. Supreme Court has long been trying to reign in such jury awards with cases like State Farm that limit punitive damages to a low multiple of actual damages.
State Farm is also why I think the recent outrage in the Mark Steyn/Michael Mann defamation suit will be reversed. Mann was awarded a mere $1 in actual damages yet given $1 million in punitive damages. That’s insane. Traditionally in American law, punitive damages is three times the actual damages, not one million times!
None of this seems to have even been on the mind of Judge Engoron in New York, who awarded Letitia James $355 million on a theory of unjust profit “disgorgement”, even though there were no victims and no losses among Trump’s lenders. Disgorgement is also a key doctrine the Supreme Court has lately been skeptical about. It was at the center of the recent Lieu v. SEC, where the court by an 8-1 decision wanted to see some real damages to victims before disgorgement was ordered.
Hoping like hell the actuaries are RIGHT!
They are going to collect big money for negligible risk.
The executives might even despise Trump, but they love easy money.
This is total BS, that just keeps getting repeated for some reason. The bonds are needed to stay enforcement on the judgment during the appeal. They are not needed to appeal.
“They don’t want his empire liquidated and a subsequent fire sale loss by his lenders; they want to be as helpful as possible in financing his appeals.”
Tish James will prosecute this as felonious conspiracy to preserve wealth and seek an additional half billion fine to compensate the phantom-victim.
I am use to sites hitting you with a before you go page bit to hit me with an ad after that you just lost all clicks from me.
They may also want the precedent to be erased via a reversal.
Somebody said their aunt’s sister-in-law’s stepson’s adopted sister’s half-brother’s second-cousin once removed had heard that the Biden Maladministration was planning on putting Judge Engeron’s name in as the next head of the IRS.
With provenance like that, who’s to say otherwise?
Except Trump can’t/won’t win because the outcome of the election is already decided. The fact that the demoncrats are still running Joe Bite-me is proof of that.
America is a boiled frog. The failure of the people to respond to the theft of the 2020 election proves that the demoncrats raised the temperature of the water gradually enough that most of us never noticed.
America, we hardly knew ye.
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