How does Trump access his followers' stupid gene and turn it up to 11?
For all the "we support the blue" from this crowd, they sure as hell don't like the rule of law. And in Trump's case (and I repeat), it's never that he didn't do it. It's that he shouldn't be punished for it.
$354 + 83 + 100 + 5 = $542 million! And probably growing as there are the lawsuits in DC yet to come. And criminal trials, of course. And the cost of the monitors that apparently will accrue to him for years into the future.
Then there are loans that have been reported to be coming due and a restriction on using any New York banks. That could get, uh, tricky what with all the publicity. And with the description of the organization's methodology for creating financial reports that are part of the court's findings.
For the Saudi Sovereign Wealth Fund, that's probably chump change, but will they bail him out or will they start to think that they've invested enough in the Greater Trump Crime Family #GTCF (I just made that up; "greater" because ya gotta include Jarrad and his $2 billion).
Despite that, the GOP continues to carry his water. If they allow him to raid the election monies deeply enough, and they don't have a half billion lying around, there are going to be a lot of races poorly funded this summer and fall. That's not a recipe for electoral success. #ETTD (I didn't make that up).
For example, he has a 1/3 interest in Vornado which is a fund that own a variety of office buildings in New York and San Francisco. The terms of his ownership require approval of the other owners to withdraw any funds from Vornado. Yet, he listed it under “Cash” in all of his financial statements implying that it was liquid and readily available when it is not.
I heard an interview with a NYT reporter yesterday who said that it is unclear just how much liquid assets he has, but it could be as little as $42 million. He said that a significant portion of Trump’s liquidity over the past decade has been the income from The Apprentice and other such entertainment ventures. That has dwindled to almost nothing.
As you note, the court order requires the Monitor to hire a controller who will report to her and the court. I would presume that one of the first things the controller will do is an extensive inventory and current valuation of all assets and liabilities, a review of all contracts to understand the current and future obligations of the company, as well as put in place GAAP based accounting processes and standard cash management processes. That will take quite a bit of time. However, I expect it will uncover all sorts of things when they turn over all those rocks.
In down ballot races. With the new coalitions they already struggle to raise money compared to dems. You know Trump is going to siphon about 500 million from small dollar donors to pay this off.
Well, I skimmed a lot of the recitation of evidence.
It is devastating. And the penalties are far more than the monetary fines. The Trump organization comes under significantly enhanced outside monitoring and control. The independent Monitor will have enhanced powers and is required to approve transactions in advance. The Monitor is also to hire an Independent Controller at the company’s expense to create accurate financial statements. Donald Trump, Eric, and Don Jr. are prohibited from serving as officers or board members of any New York company for 2-3 years. The Trump organization is prohibited from applying for or receiving a loan from any New York financial institution for 3 years.
The determinations of total financial lack of control and ineptness is breathtaking for an organization of its size. It totally devastates any suggestion that Donal Trump is a skilled businessman.
As an example, from the ruling:
In her final report, Judge Jones made the followings findings and observations: (1) beginning in 2022, defendants elected no longer to submit SFCs, instead crafting their own list of “the Trust’s Material Assets and Material Liabilities, which does not include estimated current values of the properties contained therein and does not include a balance sheet of the guarantor or any representations regarding his financial condition, notwithstanding the loan covenants that still require it; 57 (2) during the course of her monitorship, defendants transferred significant funds58 outside of the Trust without notifying the monitor, as they were obligated to do; (3) during the course of her monitorship, defendants have submitted disclosures to third parties that fail to include significant liabilities; 59 (4) the defendants are no longer representing that any disclosures are GAAP compliant, despite certain continuing obligations to do so; (5) annual budgets of projected performance were submitted to third parties that were materially different from the actual budgets of the prior year and which excluded or significantly reduced actual management fees as liabilities; (6) the internal accounting structure of the Trump Organization continues to be plagued by math and/or reporting errors; and (7) there are no adequate internal controls over financial reporting in place at the Trump Organization to ensure that there will not continue to be misstatements and errors going forward. NYSCEF Doc. No. 1681.
Further, the Court notes that top leadership roles at the Trump Organization, particularly the CFO and Controller, remain vacant. Approximately five months after Weisselberg pleaded guilty to having committed 15 counts of tax fraud at the Trump Organization, Eric Trump negotiated, approved, and executed his separation agreement. 60 The role of CFO has remained vacant ever since, a fact that Donald Trump, Jr. did not know at trial, mistakenly believing that Mark Hawthorn was the new CFO. Similarly, the role of Controller has remained vacant since McConney left the Trump Organization in February 2023.
Thus, the Trump Organization does not have the ability to operate with a functional financial reporting structure that would protect against fraud in the future. The fact that there are virtually no internal controls in place at the Trump Organization, “creates an atmosphere conducive to fraud.” People v Northern Leasing Sys., Inc., 193 AD3d 67, 75 (1st Dept 2021).
can't buy his coke in New York for 2 years?
The approval is a victory for Trump, who will hold more than 78 million shares in the post-merger company, a filing shows — a stake that, at current prices, would be worth nearly $4 billion. Trump, who would own between 58 and 69 percent of the company, and other investors could earn tens of millions more shares through a provision, known as an “earnout,” tied to the stock’s performance, a filing said.
He can't even trade in them for six months after the merger. And the valuation sounds like a load of horseshit in the first place.
...and also one that can be peddled to unsophisticated Trump fans, no doubt.
He'll get others to pay for his misdeeds.
is a penny that won't be spent on his campaign, or the campaigns of any other Republican candidates. You wonder if those other candidates will ever wake up and smell the coffee.
general election more than the primary. That's not happening soon. Too many gerrymandered districts, too many safe seats.
Worse, the non-MAGAs are being scared off by threats of violence, being SWATed, harassment of their family members. This is now the norm for those who dare to oppose the MAGA agenda.
but eventually Liz Cheney's prediction will come true. They'll have nothing left but their shame.
If he's POTUS again, can he pardon himself?
And if doesn't pay it, the state can come after his assets to collect. So yes, it very much matters.
He can't pardon himself on that one either, and Gov. Brian Kemp won't do so. He's part of the reason there even is a case in Georgia because he refused to do Trump's bidding.
Georgia is one of 4 states where the Governor cannot grant a pardon. In Georgia, requests go to a 5 member panel.
can be sought. Not for years.