A New York appeals court on Monday agreed to hold off collection of former President Donald Trump’s $454 million civil fraud judgment — if he puts up $175 million within 10 days.
If he does, it will stop the clock on collection and prevent the state from seizing his assets while he appeals.
Delay. Delay. Delay.
And in the meantime, he can devalue and divest while building a political warchest. Deny, deflect, delay. He will not face consequences because there is no justice in America.
Trump will die outside of any prison or jailhouse, having never been locked up, likely without even an ankle bracelet, of natural causes, while living a 1% lifestyle. Mark my words.
Let’s hope that’s this week. I’ll settle for being done with this nightmare.
Honestly at this point, fuck it I just want the fucker dead. At least cholesterol doesn’t care about politics, go team cholesterol
What does that even mean? Don’t be a doomer. Every day he spends in court is less time and money spent on campaigning. Right now he has drained $50 million from Republican election funds to fight this, plus all the time and effort. That’s less time and money spent on supporting downballot Republicans.
Even if he won every case (which won’t happen) this is a distraction for him. Biden hasn’t even started campaigning, and has a massive amount of funding. Trump will lose and every doomer will say “well of course he lost, he was in court half the time! Biden got lucky!”.
Devalue: assets have only theoretical value until they are sold. You can borrow against that theoretical value, but the more you borrow, the less equity you have. Separate from using it as collateral for a loan, the value of an asset can drop for a variety of reasons. Real Estate can fall to disrepair. Stocks can fall due to lowered expectations for the future. If you end up owing more than it’s worth, there’s little incentive not to allow the value to completely evaporate. You can also use the loss to offset capital gains elsewhere, but that’s not particularly relevant here.
Divest: means to sell off assets, with the indication that the sale is at a loss for quick sale. Rich people often engage in the sale of assets to friends, family, and associates who offer pennies on the dollar in exchange for favors. Hiding assets through divestitures is a common tactic for wealthy people who are about to owe a lot of money.
Engaging in both can be used to transfer funds from his personal holdings to his political campaign, which in turn is paying off his legal debts and can be returned to his own pockets after the election. So by increasing the warchest, he is more likely to win the election AND can make himself whole after it is over.
Those definitions don’t mean anything here. Your explanation of how that would benefit him doesn’t make sense.
That’s not what Trump has ever wanted to do, nor would it help him. Why would selling things and self funding his campaign affect the judgement against him? If anything, he wants to do the opposite.
If you owe a fine, would you give away your possessions? How would that help? It doesn’t make sense.