Be kinde to folk. This changeth the whole habitat.
- Manlobbi
Halls of Shrewd'm / US Policy❤
No. of Recommendations: 12
So even as DJT's lawyers are trying to persuade the New York Appellate court that the judgment against him should be stayed because it is impossible for him to post the bond, he goes out on social media and claims that he has $500 million in cash:
https://www.nbcnews.com/politics/donald-trump/trum...Which...I can't even. I mean, I understand the politics of it - but why bother having your lawyers file the papers with the court if you're just going to do that to them?
No. of Recommendations: 0
Perhaps one of the reasons many lawyers passed on defending him.
No. of Recommendations: 0
So even as DJT's lawyers are trying to persuade the New York Appellate court that the judgment against him should be stayed because it is impossible for him to post the bond, he goes out on social media and claims that he has $500 million in cash: - albaby
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I am curious about one aspect of the bond that perhaps you know about. After all you are a Keeper of Odd Knowledge, aka a KOOK.
I know the bond amount that must be posted is the award plus interest to some point in time. What about after that point in time, does DJT have to make ongoing interest deposits as the appeal drags on?
The other question is what happens after all the dust settles and the award is finalized. Lets say the outcome is that DJT's liability is reduced to $250M. Will the State of NY pay interest to DJT on the amount of the bond over and above the final judgement?
No. of Recommendations: 3
What about after that point in time, does DJT have to make ongoing interest deposits as the appeal drags on?
I don't know, and a quick google search didn't get into that level of detail. The actual rule doesn't address that, so if you just read the rule you get the stay when you post the bond, and it doesn't say anything about having to top it off in order to keep the stay in effect.
Will the State of NY pay interest to DJT on the amount of the bond over and above the final judgement?
Not if it's a bond, no, because the actual assets aren't deposited with the court. IOW, when you get a bond, you get a surety company to commit to the court that they will pay the amount if you fail to. Typically, you'll pledge collateral to the surety to get that bond. But since you retain ownership of the collateral, you keep it in your own bank or brokerage account - so you'd earn interest over time. The court would just partially release the bond, so that it matches the revised judgment.
I don't know what would happen if the appellant deposited cash with the court itself - presumably that gets put in an interest bearing account, but I don't know how the interest is allocated.
No. of Recommendations: 4
So even as DJT's lawyers are trying to persuade the New York Appellate court that the judgment against him should be stayed because it is impossible for him to post the bond, he goes out on social media and claims that he has $500 million in cash...
Note to self... Reserve time to bone up on terms of 25th Amendment and mechanisms for removing a mentally incompetent President from office.
Although I'm not sure this will ever be utilized if Trump was re-elected. The MAGA-ites would continue worshipping the over-bronzed melon until it shrunk to the size of the head of lettuce that outlasted Britain's last Prime Minister and the Bannons, Millers, Johnsons and Comers of the world would continue to wage their war against modernity, decency and sanity regardless.
WTH
No. of Recommendations: 1
I don't know what would happen if the appellant deposited cash with the court itself - presumably that gets put in an interest bearing account, but I don't know how the interest is allocated. - albaby
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Thanks albaby.
It would be hilarious if Trump showed up with a Brinks truck and a forklift to deliver a pallet full of currency to the court as if they were Iranian Mullahs.
No. of Recommendations: 1
not sure why this is a bad tactic, just likely ineffective.
maybe trump is hoping the judge\court\NY acts prematurely so he can invoke some further delay.
if he bonds or has grifted enough money by monday, he will claim proof of being rich\smart\etc... while non-MAGA had written him off.
if he is lying, well he has already lied before ($100M poorer actually) without any repercussions.
No. of Recommendations: 1
Question: does ability to pay have any relevance in a judgment? The fine/reparations is what it is. Doesn't matter if he's a pauper, or a trillionaire (haven't had one of those yet, but maybe soon). In either case, you garnish wages, you seize and sell assets (liquid and not), etc. Correct??
No. of Recommendations: 13
not sure why this is a bad tactic, just likely ineffective.
Trump's lawyers just filed a motion with the appellate court asking them to stay the judgment, on the grounds that it was impossible for Trump to obtain a bond. And that requiring him to post the judgment amount would result in undue hardship because he would have to sell assets at "fire sale" prices resulting in irreversible business losses.
But then he goes onto social media and says he has $500 million in cash. Which means he could get a bond. Or just deposit $464 million in the court register. And which means, therefore, that many of the arguments that he just had his lawyers make to the appellat panel are misleading, and arguably just false.
So this is bad for a few reasons. First, it makes it far less likely that his motion to stay the judgment and avoid the bond will be granted. Second, this is the same court that will hear his appeal - and he's starting out with them by basically lying to them about his financial situation. When he's appealing a judgment finding that he committed fraud about his financial situation. And finally, it's yet another instance where he makes his lawyers look terrible, because at the end of the day they were the ones who signed their names to the motion filled with factual assertions about how Trump's assets were illiquid and weren't practical for securing a bond and would have to be sold at fire sale prices to comply with the judgment. Which makes it just that much harder for any competent lawyer to ignore their better judgment and work for Trump in the future.
No. of Recommendations: 1
Question: does ability to pay have any relevance in a judgment?
Not for a financial award, no. The amount of the judgment usually doesn't depend on whether the defendant can actually pay it.
No. of Recommendations: 1
but why does a social media post matter if he previously claimed $400M liquidity earlier in court?
there will just be the tired excuses that TS posts are for entertainment.
No. of Recommendations: 7
