Robert ReichThere’s something odd about Trump’s inability to post an appeal bond in his NY civil fraud case. All those buildings and clubs could serve as collateral against a loan to pay the bond…unless they are already pledged as collateral on other loans. Is it all a house of cards?
FirefighterGeek 
@rbreich I wrote about this yesterday. It's either already leveraged to its peak value, which means his net work has to be under a billion in total and could be as little as the edge of bankruptcy, or else he's just playing a delay and bargaining game with the appeals court. Some combination of those is possible.
Carolannie@rbreich Potemkin millionaires
DopeGhoti@rbreich
Of course it is. From what I have heard and read he's reportedly mortgaged to the hilt on most of "his" properties, and others he's only a partial stakeholder in, so would only be able to extract a fraction of the properties' values presuming he could find buyers for his stakes.
Of course it is. From what I have heard and read he's reportedly mortgaged to the hilt on most of "his" properties, and others he's only a partial stakeholder in, so would only be able to extract a fraction of the properties' values presuming he could find buyers for his stakes.
onecaliberal
SpaceLifeFormSomething about liens rings a bell. /s
Ω 🌍 Gus Posey@rbreich From a legal standpoint there may be some mitigating factors insofar as he's the Devil.
Glenn@rbreich Trump claimed under oath that he had 1 billion dollars in liquid assets. He was clearly lying. Further, he was fined for exaggerating the value of his real estate - mostly. Can you blame people for not wanting to take those assets as collateral?
Tim Macinta@rbreich - or nobody is dumb enough to loan him money, collateral or not.
Mr. Bruno 
@rbreich If someone ponies up the cash for him, what will he owe them? What foreign investors want control of #BigMassiveDumps?
Jeff Pummill@JPummil
Good article. Just because his name is on something does not mean that he owns it.
Good article. Just because his name is on something does not mean that he owns it.
Ned Hamson@rbreich and his son in law’s 2 billion?
Pamela@nedhamson1 @rbreich He actually knows what the Saudis would do to him if he threw their 2 billion into the Trumpie abyss!
@rbreich You Betcha!
VulcanTourist [MOVED]Stop, you're giving playing cards a bad name.
@rbreich Cheatos house of lies. Who owns his leveraged properties? Putin? RNC?
BunNICKula🇨🇦
hoc e you might think that i couldnt possibly comment
Hermey G@rbreich
This grift could just be part of his plan to justify siphoning RNC funds. "I am a victim" card
This grift could just be part of his plan to justify siphoning RNC funds. "I am a victim" card
Mike Rockwell@rbreich you might be surprised to find out that taking out loans against his properties is what they claimed was fraud.
Smitty@rbreich bond companies will not use real estate as collateral as its valuation is unclear. State law
bls
Reddogrunner@rbreich bond insurers do not accept real estate as collateral.
arceuthobium@steveworthington @rbreich makes sense. In a forced sale the first mortgage creditor gets paid first, the second mortgage gets whatever might be left, and the third creditor gets nothing.
Mastodon's Billionaire Owner@rbreich He lies all the time. He lies about his wealth, but he also might be lying about his inability to get a bond too.
You can't tell anything from the noise that comes from his mouth (and lawyers), although on average it tends to indicate what is not the truth.
What happens on the bond-due date is the only reliable information you will see. Hopefully he is utterly broke - seems likely to me!
Lou Katz@rbreich Trump's finances are likely a house of Monopoly money.
Alien Invader 🔻
wasabi brain@rbreich you know how all those conservatives are up in arms about mar a lago being valued in the tens of millions and not hundreds or even billions? Probably shows how encumbered those properties truly are
okanogen VerminEnemyFromWithinHahahahahaha
Oh no. It's all legit.
Hahahahahahahahaha!!!!!!!
Anvil of Truth@rbreich It’s doubtful Trump has heavy equity in most or all of his properties. As such no hard money or bonding lender wants to be in a second or third position for bond collateral…ESPECIALLY with a chronic liar and serial law suit loser like Trump.
Marc-Oliver Schaake@rbreich If I’d sell aviation fuel for his jet, I’d demand cash payment before filling up.
Tâi Siáu-káu 台痟狗 ㄊㄇㄉ 🇳🇫 台灣國
Scott Knowles@rbreich my guess: Trump has likely used every property on multiple loan applications, loans few, if any, he made payments, let alone paid off. His historic debt is likely several billions $$$, but he probably doesn't list them anymore. I'm also guessing income from foreign properties, leases (for his name), and investments is in foreign accounts he may not have declared. He has the $500M , but not where he can use it in the US. He still has his foreign connections, but they're likely equally reluctant to help him. He put himself in no way out situation he has no friends with money to waste, but then there might be big billionaire who have the money. We'll see. Popcorn anyone?
Rosemary The Salty@rbreich well if we're comparing Trump to the TV show House of Cards, the one involves a TV star who is also a sexual predator and the other is, uh... also that.
Serge 🔻@rbreich if anyone thought they’d get money or useful influence out of a deal Trump would already have the money. So, yes, almost certainly.
Nicole ParsonsWhich begs the question...how widespread are these practices amongst the super-rich?
How many "billionaires" are just over-leveraged frauds, enriched by Wall Street hype and well-funded public relations campaigns?
TC Won't Give In To Lies
Sex Crazed SaltShaker of Death@TCatInReality @Npars01 @rbreich
And what is a billion dollars when the answer to an irrelevant math equation is "valued" at $67,000? It's all made up stuff, and due to collapse when confidence in it is destroyed.
And what is a billion dollars when the answer to an irrelevant math equation is "valued" at $67,000? It's all made up stuff, and due to collapse when confidence in it is destroyed.
Democracy Matters 
Like The Producers, Donald has sold 430% of his show.
Ron@rbreich I read that his buildings can't be taken as collateral. He apparently tried but none of the insurance companies or money lenders would accept them.
@rbreich
Fake billionaire. Just like he is a fake in everything else he does...
Fake billionaire. Just like he is a fake in everything else he does...
@rbreich
Looks like the shell game isn't working anymore...
Looks like the shell game isn't working anymore...
Bc Clarity Carlton-Martin
Andy KotlarzA couple of possibilities come to mind:
Firstly, when Chubb did due diligence they discovered that Trump’s real estate empire was such a tangled web that it would take a decade of litigation to get clear title to any of the properties.
Secondly, could it be that Trump tried to put up the same collateral for the half-billion, that he used for the first $91m bond?
So, when rumors started spreading that Chubb wouldn’t touch it, then no one else would, either.
Craig D Carmoney@rbreich pretty sure it is.
Wokebloke for Democracy@rbreich
According to another article posted today, that was his model for his business in Atlantic City until the cash cow ran dry.
According to another article posted today, that was his model for his business in Atlantic City until the cash cow ran dry.