Former President Donald Trump must come up with the full bond amount to cover the $454 million verdict in the civil fraud trial, an appeals court judge ruled Wednesday.

The judge, however, lifted a ban on Trump’s ability to obtain loans from a New York bank, which could allow him to obtain the necessary funds

  • hitmyspot@aussie.zone
    8·
    8 months ago

    The difference with most “billionaires” is that the bank wants their business and wants to lend to them. Trump, not so much.

    That’s the point. He’s not really a billionaire. He’d be even further from it if it wasn’t for the grifting that has happened since he started his run.

    Nobody had ever made money campaigning before. He didn’t find a loophole, he wanted the ego boost but a confluence of factors meant he made money to cover his debts. That’s all starting to crumble as the malfeasance that got him there has consequences. However he has yet to really feel them.

    • Dagwood222@lemm.ee
      5·
      8 months ago

      There’s a Mafia scam called a ‘bust out.’

      The mob takes over a legit business, call it Joe’s Diner. Joe starts ordering new equipment and tons of food. Joe’s partners sell the new stuff and keep the cash, whle poor Joe is left with a mountain of debt. Eventually the diner goes broke.

      I can see something like that happening here. I’m not a lawyer or an accountant, but I know that when you’re playing with billions of dollars, it’s easy to skip out with a few million here and there.