Does Trump Have the Money, or Not?

Trump’s deadline to put up the E. Jean Carroll judgment is this Saturday, March 9, and he’s still trying to get out of it. This just happened today:

 Former President Donald Trump is seeking a new trial in the defamation case brought by former Elle magazine columnist E. Jean Carroll, arguing that the judge in the case improperly restricted his testimony.

Trump in January was ordered to pay $83.3 million in damages to Carroll for defaming her in 2019 when he denied her allegation that he sexually abused her in the dressing room of a Manhattan department store in the 1990s.

Trump spent less than five minutes on the witness stand, during which he testified that “I just wanted to defend myself, my family and frankly the presidency.”

Judge Lewis Kaplan instructed the jury to disregard the remark because it fell outside the bounds of what Trump was allowed to say.

In a court filing Tuesday, defense attorneys argued “the Court’s restrictions on President Trump’s testimony were erroneous and prejudicial” because Trump was not allowed to explain “his own mental state” when he made the defamatory statements about Carroll.

“This Court’s erroneous decision to dramatically limit the scope of President Trump’s testimony almost certainly influenced the jury’s verdict, and thus a new trial is warranted,” defense attorneys Alina Habba and John Sauer said.

The defense also asked Judge Kaplan to reduce the $83.3 million damage award, arguing it “surpasses the permissible bounds for such damages and exceeds comparable awards” in the Southern District of New York.

I can’t imagine how “his own mental state” would be a legal excuse to say any of the things he said. Also, in the second trial that ended in January, the judge had already found Trump guilty of defaming Carroll, and the only thing the trial was about was how much damages Trump would have to pay. Trump doesn’t seem to grasp that.  It’s also likely Kaplan was doing Trump a favor by limiting his speech in court, considering how badly Trump’s own behavior hurt him in that case.

I am going to be absolutely furious if some other judge somewhere lets Trump  slide on this.

Earlier today Carroll’s lawyers had hit back at Trump for his “promise” to be good for the penalty without putting up a bond. This is from Law & Crime:

In response to Donald Trump‘s continued promises to a judge in New York that he will pay the $83.3 million he owes to writer E. Jean Carroll for defaming her — without posting security — Carroll’s lawyer has offered a taut reply: Once again, Trump offers nothing to credit him but his “unsubstantiated say so.”

The message came in a one-page letter to U.S. District Judge Lewis Kaplan after the former president — already beset on all sides by indictments and legal dramas in Florida, Georgia, Washington, D.C. and elsewhere in New York City — asked for a third time to stay the execution of the defamation award to the veteran writer.

Trump’s attorneys Alina Habba and John Sauer have proposed that the court should give the defendant an unsecured 30-day delay to pay until all of his post-trial motions are resolved, or to allow him to post a reduced bond that would come in at little over $24.4 million.

Carroll’s attorney Roberta Kaplan wrote in the Monday letter to the judge that Trump’s latest filings are riddled with incorrect claims that it is she who “mischaracterized” existing Second Circuit case law on the enforcement of judgment without the posting of bond or another condition.

Not only has Trump once again offered “no alternative means other than his own unsubstantiated say so that he will have the $83.3 million available when Carroll prevails on appeal,” Kaplan wrote, but when his lawyers pointed to a 2015 strip search case in Long Island to support their argument, they misinterpreted it.

There’s more. But, yes, everybody knows what a hole Trump is in and that he has a history of lying about money.  No one with any sense would trust him. His promioses to pay for anything mean nothing.

At The New Republic, Greg Sargent has a bad news is kind of good news post

Some new polling from a top Democratic pollster finds mixed news for Team Biden on this front: Large swaths of voters appear to have little awareness of some of Trump’s clearest statements of hostility to democracy and intent to impose authoritarian rule in a second term, from his vow to be “dictator for one day” to his vague threat to enact “termination” of provisions in the Constitution.

That’s maddening for obvious reasons. But it also presents the Biden campaign with an opportunity. If voters are unaware of all these statements, there’s plenty of time to make voters aware of them—and the polling also finds that these statements, when aired to respondents, shift them against Trump.

The survey—which was conducted by veteran Democratic pollster Geoff Garin for the group Save My Country and shared with The New Republic—did something novel. It polled 400 voters in each of three swing states—Arizona, Michigan, and Pennsylvania—and weighted them in proportion with each state’s Electoral College votes. It omitted respondents who voted for Trump in 2020 and also said Biden didn’t legitimately win.

In short, the poll was designed to survey voters who are genuinely gettable for Biden. The poll asked them about 10 of Trump’s most authoritarian statements, including: the two mentioned above, Trump’s claim that immigrants are “poisoning the blood of our country,” his vow to pardon rioters who attacked the Capitol, his promise to prosecute the Biden family without cause, his threat to inflict mass persecution on the “vermin” opposition, and a few more.

Result? “Only 31 percent of respondents said they previously had heard a lot about these statements by Trump,” the memo accompanying the poll concluded.

The good news for Biden is that when respondents were presented with these quotes, it prompted a rise in Trump’s negatives. For instance, after hearing them, the percentage who see him as “out for revenge” jumped by five points, the percentage who see him as “dangerous” rose by nine points, and the percentage who see him as a “dictator” climbed by seven points.

This is why I’m not having a meltdown over the presidential polls. All is not lost. I heard recently that most voters don’t blame Trump for the overturning of Roe v. Wade. How many times did Trump brag — on video — that he was the one who overturned Roe?

For that matter, probably most voters haven’t listened to Trump speak at any length about anything since he left office. He’s getting worse. He barely knows what planet he’s on sometimes. There is plenty of opportunity for Democrats here.

In other news: Kyrsten Sinema announced she’s not seeking re-election. She may finally have gotten the memo that nobody likes her.

Today is Super Tuesday, of course. If anything interesting happens I may comment more later. Or not.

Update: TPM: Feds Slap 12 New Counts On Bob ‘Gold Bars’ Menendez

 

15 thoughts on “Does Trump Have the Money, or Not?

    • Interesting stuff. It looks like Trump wanted the meeting in the news and I read nothing to indicate what the discussion included. If a loan this week was discussed, I'd expect Muak would have asked about collateral. Trump soaked the banks on the Taj Mahal so there's no doubt he's OK about cheating entities even richer than he is. If Musk does not get security, Muak has to accept silently ANY policy Trump puts into practice. With security, Musk has leverage over Trump.

    • I'm sure Trump will drive a hard bargain with his hat in his hand. I guess Musk is going to get schooled in the art of the deal. Talk about a faustian bargain?

       My mind pops back to the scene in the movie, It's a Wonderful Life. Where Mr. Potter says to George Bailey, "you're worth more dead than alive, George." It's not exactly the same as the situation that Trump is in now, but the level of desperation Trump is faced with is about the same. I wonder if Trump is going to address Mr Musk as sir?

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  1. I think I grok why a lot of folks hadn't heard of tRUMP's latest verbal defecations.

    We all have to prioritize/compartmentalize sounds when they get to our ears.

    Hearing, unlike vision, demands our attention.  We have to focus in order to do more than just "hear" something.  We have to listen.

    How important and unique  and different – is hearing from vision?

    TV's nowadays have the capability to show the video of at least 4 other channels to appear via a PIP screen (picture-in-picture). 

    But while watching all of those, do you get the audio from all of them?

    NO!

    Why? 

    Your brain can handle countless sources of visual input.

    But not so with hearing.  Actually LISTENING takes focus. If there's ever the proverbial fire in a theatre, you'd hear a cocophony of panicked, high-volume voices.  Which voice are you going to focus in on to listen to?  Some schmuck with a spouse and kids, or the guy in the fireman's uniform?

    And so, after tRUMP lost in 2020, I'd bet a pretty good sized majority of people living in America would have been perfectly fine if they never heard from him again.  Or heard his name again.

    EVER!!!!!

    So people tuned out tRUMP and "it's" name.  They put him in the category of "background news."

    But after today, Super Tuesday, that part of the background noise will now go from a buzz, to the racket of a gasoline chainsaw!

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  2. Trump's motion for a new trial will go nowhere but it is actually an honest reflection of Trump's desires. According to reports between the first and second E.Jean Carroll trials, I read that Trump viewed the second trial as an opportunity for a "do-over" of the first trial that cost him five million in cash that Trump put up. Pre-trial discussions put that strategy to rest. The judge made it clear before jury selection – the first trail was an established precedent. Trump was not going to re-litigate his first defeat in the second trial. 

    There's every indication that Trump is making all the strategic decisions in all his trials. Trump likely decided to not attend the first trial and his instructions to his attorney was to just smear Carroll as a liar and a slut. In Trump's mind, with no witnesses, it was his word against hers. But Trump elected not to show up. His statements that he did not know Carroll were not admissible. Trump wanted to take the stand in the second trial and deny the rape. The judge decided (I suspect in keeping with the law) that that ship sailed when Trump blew off the first trial. 

    This is why a good defendant needs to listen to his lawyers – especially when they are telling you stuff you do not want to hear!  After the loss in the first trial, Trump tried to blame the defeat on his lawyer, which has probably signaled to every other shyster in Trump's orbit to document every meeting, Trump's questions, their answers, and Trump's decisions. 

    Trump can argue for a new trial, but he's got to put up almost $100 million to do it. The deadline is Saturday. Regarding the newest motion by Trump, I hope Kaplan announces his denial on Monday.

    Does Trump have $100 million? He's "worth" over 2.5 billion according to Forbes. so he's got the equity to borrow that much. IMO, to borrow to cover the two civil trials and put up a total of  $550 million, Trump will have to encumber a billion in real estate. Depending on the contract, interest payments on a loan that big will be what? 10 million monthly? Of course, that could be deferred to a balloon payment at the end. But the civil trials could reduce Trump's worth by a third because when the appeals are exhausted and Trump has lost, whoever holds the paper on a billion in Trump properties will take it all.

    I'm not sure the boys are that bright but when will it occur to the offspring of TFG that Trump is going through money like water? Though Trump's ego will not allow it, is Trump's best criminal defense that he's insane? And having Daddy committed might allow the Blues Brothers to take financial control before Don Sr. actually kicks the bucket. I'm not saying this will happen but if it doesn't these fellas may wind up mere millionaires. 

  3. Kyrsten "Sayonara" Sinema:  "We hardly knew thee…"

    Thank Dog we didn't waste more of our time focusing on her!

    So Kyrsten, while we hardly knew thee, we sure as hell won't waste any brain cells remembering thee.

    Too much time has been spent on you already.

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      • Yeah, those dumb voters don't know what they really want.

        You know what? Since she knows what people *really* want, she should go into business. Maybe as an architect, changing her name to Galt, and, when no one wants her designs, she can retire with a bunch of rich people to a Gulch, and they can pretend a popular author wrote about it, including a hundred pages of speechmaking.

        Okay, I lied, they'll pretend Ayn Rand was popular instead of stupid. (Seriously: she thought deductive logic allowed the formation of a philosophy. Even *most* philosophers know there needs to be something called an "axiom" from which to start one's deduction. Her "axiom" was "common sense" which is to say, her own personal prejudices, as they evolved through her life.)

        (NB: I believe I've described the plot of an Ayn Rand novel, but since even the summaries are deathly dull and uninstructive, I'm not sure.)

  4. Does Trump have any money?  Forbes thinks he does, but Forbes has been flat wrong in the past. He once had him on the richest Americans list, when he was flat duped by the con.  Forbes continues to promote the flat tax, and republicans fall for it in a big way.  Fortunately, we have some seasoned republicans in the land of Oz who don't fall for what would create a flat financial disaster for the state budget.  No, they flat don't care that the flat tax overburdens the working person.  The state does want adequate financial reserves as they can't borrow money like Trump does.  

    A better question is does Trump have credit?  That depends on his current level of debt, his cash flow, his past business records and the true value of his not very liquid assets.  This is hard to determine as his accounting firm dropped him some time ago and his old business manager has just acquired more jail time pleading guilty to more charges.  Trump does business on the bigger fool theory and is running out of bigger fools.  Musk did overpay for what was once Twitter. now X. Musk may still have a learning curve though, and not be ready for the chronic fool label.  

    We do know Trump has lots of real estate.  We do not know how much equity he has in it, or how strong the market for extra gaudy real estate is now.  We will know more after his first liquidation if there is some honest transparency.  That might be wishful thinking unless Trump is completely out of the deal.  It could happen.

     

    • I was reading recently that Trump has big mortgages on all his "premier" properties, including Trump Tower and Mar-a-Lago. So there may not be as much equity as one might assume. 

  5. Trump's foreign golf courses have not ever established a positive cash flow. Trump (at least a few years back) was sinking money into improvements on a steady basis. So Trump has them on the books at a value he might be able to justify but he'd never be able to sell the properties for that. There's no prospect of a return on the sale. I think a bank would look at the value based on income, which may be a LOT less than Trump would ask.

    Which suggests that IF Trump gets a loan (or bond), he might spend the next year or so taking out every asset that's not bolted down because somebody will repo the property when the USSC issues the final rejection, "You want us to hear a civil defamation case?!!"

  6. In Passaic County, NJ the bail bondsmen do double duty as boxing promoters.  They will put up your bond if you enter the ring.  There is Youtube of Trump "wrestling" Vince McMahon and being declared the winner.  Maybe this would provide an out for him.

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  7. I think he does not have the cash. That is why he is running for president, he's broke. He needs the RNC to pay his legal bills. He needs the money from the rubes what buy all his swag and donate to his campaign. I would bet he is way under water on most of his properties, he's broke (broke for a millionare)

  8. O.T. I keep seeing polls showing the race within the margin of error with Stump leading. msnbc really loves to show these polls then go on and on about what they mean and how they are not good for Biden. If you watch msnbc's daytime coverage they love to discuss these polls and show flippant statements of Stump voters. On the evening shows all they talk about is Stumps legal problems, over and over and over with most shows hosting the same "legal experts" saying the same things over and over and over. They almost never even mention President Biden. This is the liberal channel? Below is a screen grab from FAUX last night, they show every leading economic indicator trending positive for Biden, big time. You'll almost never see these stats on msnbc, gee I wonder why so many people (democrats included) think Biden has done a poor job on the economy? Yes inflation is high but that is pretty much a given (death taxes inflation) and it's not near as bad as it was a year ago. Someone tell me why the liberal cable news channel can't seem to report on one god damn positive thing that Biden/Harris has accomplished?

    https://imgur.com/8gDh0xO

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