Since when can you simply tell a judge in a case where you've been fined even $1,000 that you simply don't have the money to pay, so he should cut you some slack?
Apparently, that's what Donald Trump is trying to do with the $450 million judgement levied against him in the New York business fraud case, as he's asked the appellate court for a reprieve so the state won't seize his assets, like his famed Trump Tower in Manhattan.
Is it any wonder that he can't find an insurer to finance his appeal bond to cover that judgement? Why would they do that with Trump's reputation for stiffing his creditors? We're talking about $450 million here. That's not chicken feed.
In a filing with the Appellate Division of the New York Supreme Court, Trump's lawyers said that Trump and the Trump Organization have struck out in their efforts to find an insurer that would accept property as collateral, apparently meaning that Trump -- who has claimed to be worth billions -- doesn't have the cash to cover the judgement.
Time is running out, too, as the bond is due to be posted within a week, and Trump's request that the judge accept a $100 million bond instead of the total $450 million was rejected. As an aside, what would happen if you owed the feds $4,500 in taxes and you asked them to take $1,000 instead. I'm sure that would work.
Sorry Judge, I Just Can't Pay
According to Alan Garten, the Trump Organization's general counsel, they approached some 30 surety bond providers and none would accept real estate as collateral for the bond.
We'll see how this plays out, but some knowledgeable observers suggest that this could be the beginning of the unraveling of the Trump empire. How long will it be before Trump's assets are seized by the court to cover that judgement, which, by the way, grows larger due to accumulating interest every hour of every day that it goes unpaid?
Where will Trump get the dough to cover that judgement? At $400 a pair, he would have to sell more than 112,000 pairs of his golden Trump sneakers to generate $450 million -- and that's not subtracting whatever the production costs are for those nasty looking shoes.
In fact, more than $450 million is needed since the surety companies are requiring Trump to put up the entire amount needed, or about $464 million, according to the defense filing. The Washington Post reported that legal experts say the key reason companies refuse to help Trump is that they don't think his appeal will succeed.
What does all of this mean for Trump's presidential bid? How can he come down the golden escalator like he did in 2016 when he kicked off his campaign -- if he no longer owns Trump Tower?
Will he turn to his donors, those fools who buy into his false promises and outright lies, to get him out of the hole? That's already happening.
A woman by the name of Elena Cardone previously organized a fundraiser for her embattled hero and reportedly has raised more than $1.3 million of a $355 million goal, which, by the way, is more than $100 million less than what Trump needs.
Her explanation for her appeal states in part:
"I am a wife of Grant Cardone, mother and an ardent supporter of American values and an advocate for justice, I stand unwaveringly with President Donald Trump in the face of what I see as unprecedented and unfair treatment by certain judicial elements in New York.
"The recent legal battles he faces are not just an attack on him, but an attack on the very ideals of fairness and due process that every American deserves. It's a moment that calls into question the balance of justice and the application of law, disproportionately aimed at silencing a voice that has been at the forefront of advocating for American strength, prosperity, and security."
"This fundraiser, therefore, is not merely about raising the “ruling” amount. It's about making a stand. It's about showing that when one of us is targeted for championing the values that make America great, he does not stand alone. We stand with him, shoulder to shoulder, ready to support, defend, and fight back against a system that threatens to undermine the very foundations of our republic."
It is incredible how Trump has fooled people into believing his lies. As this is written, donations to Cardone's Go Fund Me Trump campaign continue to roll in. "Anonymous" contributed $10K, the top donation. But others are chipping in -- $5,000 each from Kenneth McKelvey, Nicholas Minassi, Anonymous, and Aaron Jones. Then, there's $3,500 from Derek Murray, $3,000 from Ronald Jackson, and $2,500 from another "anonymous" donor. Then there are many small contributors, people contributing just $10 or $20.
Suckers, all.
Cardone says she's "an ardent supporter of American values and an advocate for justice." If that's the case, why would she ever go out of her way to help Trump? The only values he supports are those that will line his pockets and keep him out of jail.
"Sorry, judge, I just can't pay." Yea, that'll work.