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Post being replied to
Trump posted his bond. by EricCartman
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.