When fraudulently inflating goes wrong

The Times on Trump’s perilous situation:

The judge in the civil fraud case, Arthur F. Engoron, levied the $454 million penalty and other punishments after concluding that Mr. Trump had fraudulently inflated his net worth to obtain favorable loans and other benefits. The case, brought by the New York attorney general, Letitia James, has posed a grave financial threat to Mr. Trump.

It would be interesting to know how the $454 million penalty compares to the money he pocketed via inflating his net worth to obtain favorable loans.

The company providing the bond would essentially promise to cover Mr. Trump’s judgment if he lost an appeal and failed to pay. In exchange, he would pledge cash and other liquid assets as collateral, and he would pay the company a fee as high as $20 million.

But Mr. Trump does not have enough liquidity to obtain the bond. The company would require Mr. Trump to pledge more than $550 million in cash and securities as collateral — a sum he simply does not have.


Although the former president boasts of his billions, his net worth is derived largely from the value of his real estate, which bond companies rarely accept as collateral. Mr. Trump has more than $350 million in cash, a recent New York Times analysis found, far short of what he needs.

Well maybe he should have thought of that before he decided to do all this inflating his wealth to obtain fraudulent loans activity. What goes around comes around, as the saying goes. He cheated, he got caught, and now nobody wants to help him deal with the penalties. Whose fault is that? Not ours. Not Obama’s. Not Rachel Maddow’s. I kind of think it’s his own fault.

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