The real story here isn’t that Trump had 175M in cash to put up. It’s that the insurer acknowledged that he didn’t have all the paperwork that the AG says is necessary to provide a bond like this to a NYS court, but insists the AG is wrong, the bond is all hunky-dory, and in fact the AG should pay the court costs for making the insurer re-file the paperwork for such a perfect bond.
They can’t both be right. I tend to believe the AG here, though, and think maybe Trump and his friend Mr. Hankey are prevaricating a bit on that.
Another comment I read mentioned the bond says the company isn’t responsible for the amount if Trump loses and didn’t really do any checking to confirm the account used to secure the bond. If this is incorrect please say something since I do not like spreading false statements but it seems very on brand for Trump so it’s easy to believe. Always great when president has that amount of faith from random people, really shows how reliable they are.
The ex-president produced a wad of lint, a 1975 penny, a can of half used orange tinted skin cream, a scrap-book filled with IOUs and cutouts from a 1987 sears lingerie section, and a used sick of gum.
A signed boxing glove and a plastic grocery bag containing $50,000 in cash.
New York got screwed on that deal. Everyone knows that the best lingerie section of any Sears catalog was 1984’s Christmas edition.
You’re forgetting the epic nip slip of 91
I’m so sick of looking at that idiot. I’d pay a decent amount of money to see him get punched in the face.
He might just have to consider your offer if he continues to lose big bucks in these lawsuits he’s ensconced in
I’ll add to the pile
Is Ivan Drago still around?
“If he dies, he dies.”
KSIC’s $175 million bond was collateralized by the $175,304,075.95 Trump had placed in a Charles Schwab bank account and which was specifically pledged to KSIC.
For historical reference. A Schwab account containing securities as also used as the collateral given to Chubb Group for the bond for the E Jean Carroll law suit appeal. Interestingly, Chubb refused to offer a bond for this other case needing the $175 million.
I think the key takeaway there though is that Trump controls that account. KSIC can take control of that account within 24 hours, but nothing is stopping Trump from just draining that account if he loses his appeal.
Watching him screw over the person dumb enough to vouch for him would be hilarious
Also, it will be when he loses his appeal
So, Russian money in a bank account with Trumps name on it?
I wonder if they’ll trace the source of those funds before accepting it for anything.
Why did he need the bond company if he was able to put the entire $175m in cash into a holding account?
Interest
