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The more desperate you are, the more mistakes you make. -Canelo Alvarez, champion boxer
Recent events are poking holes in the Trump balloon and the leaking stench of desperation is so pervasive that it is difficult to ignore. In the latest episode, Trump informed the New York court which awarded a $355 million settlement to the New York state in its suit against Trump and his businesses for fraudulent practices that he has been unable to obtain a bond for the $450 million (settlement + accrued interest) needed to forestall the state from collecting by seizing assets. He needed to post either the bond or the funds as his case winds its way through the appeals process. As is his wont, Trump claimed he had $500 million in hand that he intended to use for his Presidential campaign, undermining his attorneys’ arguments before the Appellate Court for a reduction.
Nevertheless, Trump caught a break on March 25 when a panel of the Appellate Division reduced the amount to be posted to $175 million and gave Trump an additional 10 days to come up with the money or post a bond. The Court gave no reason for the reduction, although some of the legal talking heads of cable news saw it as a signal that the Court was leaning towards reducing the total settlement amount due to the state of New York.
$175 million is not Monopoly money, and Trump is notorious for not wanting to part with his money. His history of stiffing creditors is well-known, as his tenuous relationship with objective truth. But his current circumstances are beyond the shenanigans that are his SOP, and New York AG Letitia James is poised to begin collecting on the judgment if Trump fails to post a bond or when the Appellate Court releases its final decision. No amount of Trump’s clownish puffery will allow him to weasel out of paying the bill when it comes due.
Judge the man by his actions, not his words. While proclaiming he’s a billionaire, he is busy pursuing his day job as Grifter-in-Chief. Recently he was selling $399 gold sneakers, on brand, of course. Just this past week, he began marketing a $60 “God Bless America” Bible, no doubt hoping to tap into the True Believer market. Remarkably, other members of the Billionaires Club have not availed themselves of such opportunities to augment their wealth. Perhaps Trump is onto something, or more to the point, he is simply desperate.
The causes for anxiety in Trump World are plain to see. The Biden campaign has out-raised Trump’s by a wide margin. Much of the money raised by his campaign is being used to pay his mounting legal bills. The judgments in the civil cases will likely total hundreds of millions of dollars. Two of the four criminal cases against Trump may go to trial before November’s election, meaning he will be in a courtroom rather than on the campaign trail. The first of these trials is scheduled to begin in Manhattan on April 15, and Trump’s palpable desperation is manifesting itself in his verbal attacks on judges, prosecutors, and potential witnesses. He has had multiple gag orders imposed on him by judges in civil and upcoming criminal trials, yet he seems bent on crossing the line into contempt of court. Lashing out at perceived threats is quintessential Trump.
It is astonishing when the targets of his venom are Trump’s supposed allies. At the beginning of March, Trump launched an attack on the Republican National Committee, forcing out Chairperson Ronna Romney McDaniel, and replacing her with North Carolina GOP chairman Michael Whatley and the former president’s daughter-in-law, Lara Trump. McDaniel’s sin was poor fundraising results, but this may be in part due to Trump’s actions: he wished to prevent RNC funds from going to Republicans he derided as RINOs and to donate to his Save America PAC instead.1 The takeover became cemented when Trump’s newly-installed RNC leadership fired 60 RNC staffers. As The New York Times reported on March 21:
Former President Donald J. Trump’s new shared fund-raising agreement with the Republican National Committee directs a portion of donations to the political account he has used to pay his legal bills before any money goes to the party itself… In practice, what that means is that even modestly large contributors — anything above $6,600 — will fund the account that Mr. Trump has used to defray legal costs. And the fund-raising agreement came as Save America, which has averaged roughly $5 million a month in legal payments for Mr. Trump and witnesses in his cases, is on course to run low on funds as the spring ends.
The net effect on the Republican Party is that the RNC will have less money to support down-ballot races for Congress, to assist state committees, and to conduct outreach programs to reach potential voters. But Trump is a drowning man and in his panic will imperil those who may help him.
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Those of us with some prior knowledge of Trump shenanigans know his cheap nature when it comes to bill paying. That's why he decided to run again for President: to collect much OPM, other people's money, for himself, and potentially dismiss federal charges against him and his pals already in jail or on trial. We also know that real estate normally comes with high liability for mortgages and repairs, all needing paying to avoid summary collection of outstanding amounts. We know he regularly stiffs vendors in all his actions, both personal and business. So none of the long- or short-term reporting reveals much.
What's a tragedy over the current court settlement with Jean Carroll and judgement about real estate evaluation and mortgage lending to Trump is the all-too-obvious double standard applied to this fellow compared to others enduring 1. court sanctions like gag orders for airing his problems, 2. threatening all those involved in his comeuppance, including their families, and appearing in court when he feels like it or it's to his advantage politically or judicially.
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We saw Ms. Carroll reject Trump continued berating and worse in the media after losing his rape case against her and securing additional money awarded by the court. But he's got another case with Stormy Daniels, porn star, which reopens the door to abuse of plaintiff and court officials involved. Nothing seems to stop this guy beating his gums about everything that would draw contempt citations and jail time for judicial abuse. No accounting for the gigantic reduction in bond money $175 million owed by Trump to appeal that judgment. Ordinary financiers, hedge fund managers, ponzi schemers wind up in jail, but not this blowhard in chief. Now there's even talk about reducing the overall amount of $350 million estimated to repay New Yorkers for Trump wrongdoing involving tax cheating and bogus realty estimate valuations.
Why have the courts treated this guy with kid gloves? Why does he continue to bloviate about his troubles which seems to get him more campaign money, higher poll support and larger rally turnout? Why do we continue seeing in the broadcast talking heads the failure to brand him loudly as a crook, far worse than Nixon who had to resign, Sen. Bob Menendez, forced out of his party, January 6th insurrectionists serving jail time, former Rep. Sanchez,lying and cheating constituents, voted out of office? What makes this serial criminal so untouchable? Even Al Capone went to jail. Why not Trump?