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?
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.