Warning: Politics!!!!
If you’ve followed the news even a little nowadays you know that Donald Trump is facing a whirlwind of legal challenges even as he’s running for President yet again under the Republican ticket.
He’s so far been losing judgments yet at times “winning” by having trials be delayed.
On May 9, 2023, Trump was found liable for defamation and sexual abuse against author E. Jean Carroll and she was awarded $5 million in damages. Trump, never a shrinking violet, went on to talk and talk and talk about this verdict to the point where she sued him a second time for defamation. On January 26, 2024, Trump was found liable for defamation against Ms. Carroll and awarded a whopping $83.3 million in damages.
Trump appealed this verdict but, to do so, he had to produce a $91.6 million bond… which he did. In New York, you see, you can appeal verdicts but you have to put the money (plus some 10%) down in case you lose the appeal. It’s a way of ensuring the victims know the money is there for them the moment the appeal is exhausted and does not allow the guilty party to forever stall and appeal the verdict.
In other words: Pay up before you appeal or else you can’t appeal.
There were plenty of people wondering if Trump had the money to pay for this appeal but he did manage to get it… even as very quickly the company who provided the bond was exposed and, apparently, that caused enough consternation within the company, Chubb Insurance, the CEO was forced to defend the action…
Chubb CEO defends backing Trump appeal bond in E. Jean Carroll case
The fact is that Trump -whether you like or loath him- is increasingly being viewed as a financial risk and there are those who invest in Chubb that viewed this bond as a financial risk.
Welp, Trump had another case go against him, this one also from New York and involving civil fraud. Mr. Trump lost the case and was ordered to pay $454 million. This case involved years of questionable financial dealings and, once again, if Mr. Trump wants to appeal the case, he can certainly do so… provided he offer a $454 million bond.
This bond is due March 25… a whopping four days from today, and…
Trump’s lawyers say it is impossible for him to post bond covering $454 million civil fraud judgment
It would appear, according to the above article, that there is no bond company willing to cover this amount and Mr. Trump doesn’t have the liquid assets to cover it himself… this despite boasting under oath during one of these cases (I forget which) that he had some $450 million in such assets.
So the clock is ticking and, should Mr. Trump not be able to post this bond, by Monday New York Attorney General Letitia James, the woman who successfully prosecuted Trump, can start seizing his assets.
It’s a fascinating fall for Mr. Trump, whether he manages to post that bond or not, and one can’t help but note that the man brought this all on himself.
Like it or not, getting into politics shines a bright light on you. Running for, and being elected President shines an even brighter light on you and you really, really must make sure your past is clean because inquiring minds will start to look through your past…
I wonder if this is the start of the end for the Trump financial empire. It’s possible, certainly, he finds a way to wiggle out of this and gets someone -maybe someone close to him- to pay the bond.
But $454 million dollars is an awfully large amount of money and there are other cases -criminal cases- to come.
All while Mr. Trump runs for President.
There was a time even one of these scandals was enough to fell any potential candidate. Mr. Trump, to his credit, seems to know no shame and pushes on despite everything falling around him.
I’m damned curious to see what happens Monday.