General Question

LostInParadise's avatar

When will we find out if New York's attorney general, Letitia James, will be seizing Trump's financial assets?

Asked by LostInParadise (31905points) 3 weeks ago

Would the loss of such financial assets affect Trump’s ability to finance his campaign?

Observing members: 0 Composing members: 0

21 Answers

elbanditoroso's avatar

1) In 15 days, when the first $175 million is due to be paid.

2) It could, depending on how well Trump has separated personal money from campaign money.

jca2's avatar

From what I heard on the news, Trump said it won’t be a problem for him to get up the 175 million by the deadline.

seawulf575's avatar

My understanding is the appeals court stepped in, dropped the bond from $460M down to $175M and gave Trump another 10 days to come up with it. If he does, James’ dreams of seizing his assets evaporates. I wonder if she is going to continue to post how much bond he owes every day?

Could it impact his campaign? I dunno, but that was the point of the entire lawsuit in the first place. Distract him, punish him financially, etc. Whatever they could do to disrupt the campaign. Now, if the appeals goes through and the entire case is thrown out or the punishment is dropped to next to nothing, he gets most or all of his bond back. So if the appeals goes through relatively quickly (within the next 3 months) he could end up with a massive injection of cash that could be used on his campaign.

chyna's avatar

^And if he loses, he has to come up with the full amount.

KNOWITALL's avatar

Truth Social soared almost 50% yesterday, so his stake is $5.4 billion. I think he’ll be okay either way.

Smashley's avatar

@KNOWITALL – I’m not a gambler, but methinks the stock might be a wee overvalued, no? Kind of assuming there’s yet another load of felonies behind the pump-and-dump we’re seeing.

KNOWITALL's avatar

@Smashley Probably but he has a lot of supporters who watch and pay attention to the courtroom shenanigans, as well as L James unprofessional bravado about seizing assets. I dont love Trump but it’s not doing Democrats any favors after 4 years of Biden. They are making Trump the victim which will only help him win. America loves an underdog.

elbanditoroso's avatar

One thing for the future: the long term outlook for SPACs (the watered down going-to-market process that Trump used) is pretty awful. A majority of companies that went public via SPACs do bust within a couple of years. Not all,. but many.



and this

So Trump may get some fresh cash this week, but don’t expect his Truth Social company to be around three years from now,

KNOWITALL's avatar

@elbanditoroso That will likely depend on who wins in November. Funny thing is that experts say the economy should revert to pre-Covid rates by then. So the way it’s playing out he will possibly get credit for the economic recovery which will only hel Trump, too.
As far as Truth, I read some Trump supporters are buying in to help him out. Ironically it may actually work.

Smashley's avatar

@KNOWITALL – I think they think they are investing. They will only later discover they were donating.

seawulf575's avatar

@Smashley “I’m not a gambler, but methinks the stock might be a wee overvalued, no?”

Call Letitia James. She will sue Trump again for overvaluing his stock. Or at least she could try.

KNOWITALL's avatar

@Smashley Buyer beware. Kinda funny its trading as DJT though. Like him or not, he’s getting a lot of publicity either way.

MrGrimm888's avatar

My understanding of truthsocial is that it has the same protections as most other similarly new stocks.
It’s largest shareholders CANNOT sell their shares when the stocks go public.
I want to say this was a “Forbes” headline.
The article went on to say that it would not be profitable in time to aid Trump’s current legal woes. In fact, it indicated that those owning the stock, would be likely selling fast, as soon as they can. And as with anything supported by stocks, when the biggest shareholders sell, everyone else’s will.

None of this really matters.
Apparently Trump has a half billion dollars in a mattress.
Although that does make him guilty of perjury, by claiming that coming up with the money was impossible for 30 days.

@KNOWITALL “2 girls are 1 cup,” got a lot of publicity…...

KNOWITALL's avatar

@MrGrimm888 I don’t think he can sell for awhile, correct. Maybe a year, I can’t remember.
We’ll see how it shakes out but I doubt they can prove he lied since it happened afterwards. A deal isn’t done until it’s done.

Are you comparing gross fetish porn to Trump’s court proceedings? Ha!

MrGrimm888's avatar

^Yes. I do think there is a pornographic element to Trump.

Pornography isn’t just sexual stuff. Behavior experts claim that things like watching people die, or other extreme things not usually accessible by the public.

Watching Trump’s “rallies,” it reminds me of another pornographic concept by the name of “The Jerry Springer Show.”
Audiences are entertained by extreme behavior, and enjoy yelling insults from the crowd.
When I see Trump leading chants about “crooked Hillary,” I am 100% reminded of Jerry’s audiences, and how they would chant “whore,” at women on the show. I’m actually certain that Trump’s current supporters are former Springer fans.

There is no end of non-Trumpers interviewing his followers at his rallies. I can’t speak for his supporters that don’t attend his rallies. But the one’s who do, are a disturbingly ignorant, and violent by nature. Obviously, they are mostly Christians too, so atheists like me, use his rallies to gauge the state of Christianity in America.
My observations lead me to conclude that Trump is a cult of personality. His followers being typically VERY lowbrow, enjoy Trump’s rambling lies, and angry childish insults of those who oppose him.

As with Jerry’s audiences, they are a mob. Mobs driven by their respective leaders.
My old roommate’s girlfriend used to watch the JSS. That is how I was introduced to it.

I used to think, back then, this type of crap will be the downfall of society.
Watching the same spectacle of special idiots at Trump’s rallies, I can make a clear observation of correlation between the two audiences. They are identical in the “type” of people you would expect to be drawn to circus acts. Very simple people. Not evil. But easily attracted to spectacle, violence, bright colors, simple vocabularies, and the comfort of a mob mentality.

With all due respect.

KNOWITALL's avatar

@MrGrimm888 Interesting. I’ve been to several political rallies and they all seem fairly the same. Shrug. I heard Biden’s last SotU described as a senile old man screaming for an hour.
I suppose perception is everything.

Smashley's avatar

@KNOWITALL – of course you heard that, it was written before the State of the Union even happened! Folks had to get their marching orders ahead of time so they knew what to say.

KNOWITALL's avatar

@Smashley I also watched it myself, as always. Both of them are difficult to watch for a Libertarian.

Smashley's avatar

@MrGrimm888 – it looks like the reality is that Trump can pump and dump, if he gets approval from the board’s 7 members, four of which are former members of his staff and administration, and one who is named Donald Trump Jr.

God, the temptation to sell everyone out must be crazy. He’s probably just figuring out how he can lie about who stole everyone’s money. He’s headed for bankruptcy and prison, unless he wins, in which case he will become richer and officially and constitutionally above the law. I think he’s trying to figure out how to rob his supporters, and still have their support.

MrGrimm888's avatar

@KNOWITALL I am not so foolish to think that all Trump’s rallies are represented by the set up interviews of leftist journalists, which are spliced together for effect.
I wonder if leftists would have held up well, to similar scrutiny in the Obama years. I’m certain that the average person at any rally already has their position.

I have been part of security teams for political events, but never attended one on my own volition.
Most of that came right before Trump’s era. I can’t say I’ve personally gone to his rallies.

I really do try to listen to Trump, when he makes some of his bigger “speeches.”
But. Trump throws away my viewership pretty fast.

As I have said before (about Biden’s SOTU,) I couldn’t pay attention to Biden much, because of a multitude of our nation’s leaders acting like they were in a Jerry Springer audience.
Biden did his normal thing. He trudged through a long speech, with a speech impediment, and an audience that “I” would have dragged out of ANY venue.

I have NEVER said Biden should be running again. I do, just being real, think the office is beyond Joe.

Leftist, and liberals, have their own extremists. As with any group, the loudest voices come from people who hold up VERY poorly, to questioning.

Unfortunately, for Trump, he doesn’t hold up well to questioning either. If he didn’t spout such egregious lies, his blind sheep wouldn’t sound like idiots when they regurgitate his words.

But yes ma’am. Perception, is everything.

MrGrimm888's avatar

@Smashley He has always survived on money from his supporters. They don’t seem to understand, or care, that they are really just fueling his legal efforts to get out of criminal punishment.
If James does take Trump’s stuff in NY, it will be the first blow to his actual wallet.

Once he is POTUS, he will seek great revenge on those who would hold him accountable.

It’s a real problem. Because you can’t fix stupid. If enough people are stupid enough, then whatever stupid people want they get.
That’s the beauty of our democracy.
It can fail it’s people, when SO many are SO stupid that they vote against their own interests.

Trump doesn’t ever have real plans. He just uses words like “huge,” “big,” “beautiful,” amazing,” etc. His supporters think we call them stupid. Well. We just call them what Trump treats them like. He speaks to them, as I would a group of 3rd graders on my nephew’s field trip. Just less bigotry…
I can’t help but think immediately about “Idiocracy,” when I observe what is happening.

The meek, shall inherit the Earth.

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