▲ 116 ▼ Trump has been unable to post bond for $464 million judgment, his lawyers say (www.nbcnews.com) submitted 2 years ago by circularfish@beehaw.org [M] to c/politics@beehaw.org 22 comments fedilink hide all child comments I’m sure we all hate to see it.
[–] LoamImprovement@beehaw.org 12 points 2 years ago (1 child) Sounds like somebody needs their ass behind bars, then. permalink fedilink source hideshow 2 child comments replies: [–] deegeese@sopuli.xyz 27 points 2 years ago* (2 children) We don’t do debtors prisons. They’ll start seizing and auctioning properties. permalink fedilink source parent hideshow 4 child comments replies: [–] Thorry84@feddit.nl 4 points 2 years ago (1 child) But how does this work exactly? Trump isn't personally owner of any of his buildings? They are owned by the companies he has stock in. Plus the buildings aren't worth as much as those companies claim (let alone in a forced auction situation), which is another set of legal trouble Trump is facing right now. But no doubt those buildings aren't actually owned by the Trump organizations, but instead owned by banks like Deutsche Bank, because Trump used them for his fraude schemes (allegedly). Or would Trumps stock be converted into money somehow? Anybody got any idea on how this works in detail? permalink fedilink source parent hideshow 2 child comments replies: [–] deegeese@sopuli.xyz 14 points 2 years ago (1 child) The Trump org owns buildings, and the Trump org is liable for the judgment. Basically they’re going to seize and auction a bunch of buildings with his name on them, and when their auction values come up short, seize some more. Then when they run out, Trump org declares bankruptcy for the 4th time. permalink fedilink source parent hideshow 2 child comments replies: [–] Thorry84@feddit.nl 4 points 2 years ago* Wasn't Trump the individual named as being liable as well as the Trump organizations? permalink fedilink source parent [–] sxan@midwest.social 4 points 2 years ago (1 child) Bail is something you post to keep you out of jail you're already going to, it's not debtor's prison. And we do it all the time; when people can't post bail, they continue on to jail. permalink fedilink source parent hideshow 2 child comments replies: [–] meteorswarm@beehaw.org 7 points 2 years ago (1 child) In this case the bond is because he's appealing a civil judgement that's been reached. This is different from a bail bond. He's not at risk of jail over this unless he gets in contempt of court. permalink fedilink source parent hideshow 2 child comments replies: [–] Default_Defect@midwest.social 4 points 2 years ago unless he gets in contempt of court Which should have happened several times over. permalink fedilink source parent
[–] deegeese@sopuli.xyz 27 points 2 years ago* (2 children) We don’t do debtors prisons. They’ll start seizing and auctioning properties. permalink fedilink source parent hideshow 4 child comments replies: [–] Thorry84@feddit.nl 4 points 2 years ago (1 child) But how does this work exactly? Trump isn't personally owner of any of his buildings? They are owned by the companies he has stock in. Plus the buildings aren't worth as much as those companies claim (let alone in a forced auction situation), which is another set of legal trouble Trump is facing right now. But no doubt those buildings aren't actually owned by the Trump organizations, but instead owned by banks like Deutsche Bank, because Trump used them for his fraude schemes (allegedly). Or would Trumps stock be converted into money somehow? Anybody got any idea on how this works in detail? permalink fedilink source parent hideshow 2 child comments replies: [–] deegeese@sopuli.xyz 14 points 2 years ago (1 child) The Trump org owns buildings, and the Trump org is liable for the judgment. Basically they’re going to seize and auction a bunch of buildings with his name on them, and when their auction values come up short, seize some more. Then when they run out, Trump org declares bankruptcy for the 4th time. permalink fedilink source parent hideshow 2 child comments replies: [–] Thorry84@feddit.nl 4 points 2 years ago* Wasn't Trump the individual named as being liable as well as the Trump organizations? permalink fedilink source parent [–] sxan@midwest.social 4 points 2 years ago (1 child) Bail is something you post to keep you out of jail you're already going to, it's not debtor's prison. And we do it all the time; when people can't post bail, they continue on to jail. permalink fedilink source parent hideshow 2 child comments replies: [–] meteorswarm@beehaw.org 7 points 2 years ago (1 child) In this case the bond is because he's appealing a civil judgement that's been reached. This is different from a bail bond. He's not at risk of jail over this unless he gets in contempt of court. permalink fedilink source parent hideshow 2 child comments replies: [–] Default_Defect@midwest.social 4 points 2 years ago unless he gets in contempt of court Which should have happened several times over. permalink fedilink source parent
[–] Thorry84@feddit.nl 4 points 2 years ago (1 child) But how does this work exactly? Trump isn't personally owner of any of his buildings? They are owned by the companies he has stock in. Plus the buildings aren't worth as much as those companies claim (let alone in a forced auction situation), which is another set of legal trouble Trump is facing right now. But no doubt those buildings aren't actually owned by the Trump organizations, but instead owned by banks like Deutsche Bank, because Trump used them for his fraude schemes (allegedly). Or would Trumps stock be converted into money somehow? Anybody got any idea on how this works in detail? permalink fedilink source parent hideshow 2 child comments replies: [–] deegeese@sopuli.xyz 14 points 2 years ago (1 child) The Trump org owns buildings, and the Trump org is liable for the judgment. Basically they’re going to seize and auction a bunch of buildings with his name on them, and when their auction values come up short, seize some more. Then when they run out, Trump org declares bankruptcy for the 4th time. permalink fedilink source parent hideshow 2 child comments replies: [–] Thorry84@feddit.nl 4 points 2 years ago* Wasn't Trump the individual named as being liable as well as the Trump organizations? permalink fedilink source parent
[–] deegeese@sopuli.xyz 14 points 2 years ago (1 child) The Trump org owns buildings, and the Trump org is liable for the judgment. Basically they’re going to seize and auction a bunch of buildings with his name on them, and when their auction values come up short, seize some more. Then when they run out, Trump org declares bankruptcy for the 4th time. permalink fedilink source parent hideshow 2 child comments replies: [–] Thorry84@feddit.nl 4 points 2 years ago* Wasn't Trump the individual named as being liable as well as the Trump organizations? permalink fedilink source parent
[–] Thorry84@feddit.nl 4 points 2 years ago* Wasn't Trump the individual named as being liable as well as the Trump organizations? permalink fedilink source parent
[–] sxan@midwest.social 4 points 2 years ago (1 child) Bail is something you post to keep you out of jail you're already going to, it's not debtor's prison. And we do it all the time; when people can't post bail, they continue on to jail. permalink fedilink source parent hideshow 2 child comments replies: [–] meteorswarm@beehaw.org 7 points 2 years ago (1 child) In this case the bond is because he's appealing a civil judgement that's been reached. This is different from a bail bond. He's not at risk of jail over this unless he gets in contempt of court. permalink fedilink source parent hideshow 2 child comments replies: [–] Default_Defect@midwest.social 4 points 2 years ago unless he gets in contempt of court Which should have happened several times over. permalink fedilink source parent
[–] meteorswarm@beehaw.org 7 points 2 years ago (1 child) In this case the bond is because he's appealing a civil judgement that's been reached. This is different from a bail bond. He's not at risk of jail over this unless he gets in contempt of court. permalink fedilink source parent hideshow 2 child comments replies: [–] Default_Defect@midwest.social 4 points 2 years ago unless he gets in contempt of court Which should have happened several times over. permalink fedilink source parent
[–] Default_Defect@midwest.social 4 points 2 years ago unless he gets in contempt of court Which should have happened several times over. permalink fedilink source parent