Trump posted his bond.
by EricCartman (2024-04-02 15:06:13)
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If Trump posted 100% of the cash as collateral, why does he need Hankey to post bond?

Don Hankey, the chairman and majority shareholder of Knight Specialty Insurance, told CNN on Tuesday that the deal to underwrite former President Donald Trump’s $175 million bond in New York came together quickly and that Trump posted all cash as collateral.

“It’s what we do. I’m happy to do it. We would have done it for anybody else,” Hankey said in a phone interview. “It was an easy transaction. It was put together very quickly.”

Based in California, Knight Specialty Insurance is known for providing subprime auto loans to car buyers with weaker credit scores.

Also, there is a bit of irony in a guy that specializes in lending to sub-prime borrowers and people with weaker credit being the one that Trump used.



I'm stumped
by ufl  (2024-04-03 08:34:50)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

I guess I'm not conversant with the legal ins and outs of "posting". What legal claim does the lender have to the collateral?

Can the borrower dispose of the collateral and stiff the lender? If you try to sell a home which is being used as collateral by a lender, the potential buyer can't get a clear title. What if Trump spends the cash?
Useful insight in the BR: (link)
by EricCartman  (2024-04-03 10:29:19)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

Thanks *
by ufl  (2024-04-03 10:41:55)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

How can Eric cart man fail to mention Mr hankey ??? *
by airborneirish  (2024-04-02 23:03:15)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

It’s not Christmas time. *
by EricCartman  (2024-04-03 08:24:37)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply