And it is Thursday, Trump is back in court all day, taking his naps
In just 4 days Trump has double jeopardy court day, when in another Manhattan court house, Judge Engoron holds the hearing about Trump's defective $175 million dollar 'bond' with that Hankey Pankey dude
@tomiahonen
My thoughts after reading the memo defending the bond:
Knight admits it’s not on NY’s approved list but claims it can write this bond in NY, because as an “excess limits” company it is governed & regulated differently. It cites laws to back this up; I’ll leave that to the lawyers.
Knight says trump gave it a “security interest” in a $175+ million CASH (‼️) account at Schwab. The agreement says that trump will “top off” the account if it gets below a certain limit (not revealed). Also, Knight trump & Schwab have a “control” agreement where Knight can “take control of the account” with two days notice to Schwab (a lot can happen in two days).
Knight itself doesn’t have the resources to write this bond, but says that’s addressed under a “standing reinsurance” agreement with its parent, a Cayman company. There’s a trust fund for Knight (located where?) to which the parent contributes funds quarterly as shortfalls in Knight’s metrics warrant.
Anyone see any issues here?
Tomi T Ahonen
BronMason For Kamala 2024