Letitia James Issues 10-Day Ultimatum to Company That Guaranteed Trump’s $175M Bond

[Into the Night]

sounds like market strangling regulation to me.....

Not really. There are, after all, plenty of insurance and bonding companies able to compete and make money using these simple regulations, which are really just designed to prevent fraud by insurance companies upon their clients.

 

[Into the Night]

I've been noticing it, fucktoid.

you wanna step?

let;s talk about fascism and your denial.

I am not a fascist, moron. Redefinition fallacy.

 

[Walt]

no one wants their money in New York......the fact the stock exchange has its offices in New York doesn't mean the money is there.....what do you think would happen if NY tried to tax stock transfers just because it was traded on Wall Street?.......

New York(and the area) has the people, infrastructure, and legal framework for the stock exchange. Texas and Florida have both tried to compete with New York, and there has been no success. I am not just saying little, I am saying NONE!!!

 

[Walt]

The judge has no authority to, Sock.

Attempted negative proof fallacy.

trump is asking a judge to postpone execution of a verdict, so the judge has the authority in this one.

A lot of accounting is proving what happened. It is taking account for things. A lot of standard business is avoiding plausible deniability.

So when trump says we cannot prove that he stole the money, because he destroyed all the evidence, he is right. But, he is legally required to provide the evidence of where the money went, and we can prove he failed to do that.

 

[Into the Night]

New York(and the area) has the people, infrastructure, and legal framework for the stock exchange. Texas and Florida have both tried to compete with New York, and there has been no success. I am not just saying little, I am saying NONE!!!

The stock exchange is not money, Sock.
You will find exchanges in both Texas and Florida as well as many other States.

 

[Into the Night]

trump is asking a judge to postpone execution of a verdict,

No, he isn't.

so the judge has the authority in this one.

No judge has the authority to select a bonding company.

A lot of accounting is proving what happened. It is taking account for things. A lot of standard business is avoiding plausible deniability.

So?

So when trump says we cannot prove that he stole the money,

What money?

because he destroyed all the evidence,

What evidence?

he is right. But, he is legally required to provide the evidence of where the money went, and we can prove he failed to do that.

Attempted force of negative proof fallacy.

Trump doesn't have to prove anything, Sock.

 

[Truth Detector]

Former President Donald Trump narrowly avoided having his assets seized by New York Attorney General Letitia James last month after posting a $175 million bond at the last minute. But now, James is demanding clarity from the company that guaranteed it.

Axios reported Thursday that James' office recently filed a motion to compel either Trump's lawyers or the Knight Specialty Insurance Company (KSIC) to prove that it is financially able to comply with the conditions of the bond. Her motion gives both entities a 10-day deadline to "justify the surety" of the bond, or prove it can actually pay the bond amount. It remains unclear what actions James would take after the 10-day deadline. Presumably she could demand the court revoke the previous agreement and demand the full $464 million bond.

According to CBS News, KSIC is not registered with the state's Department of Financial Services, and the bond paperwork notably did not include a power of attorney authorization for the bond provider, nor did it include a financial statement from KSIC showing it was capable of shouldering the $175 million burden.

"In all the years I've been doing this, you always have to have a certificate from the Department of Financial Services saying that you're licensed to issue a surety bond," attorney Bruce Lederman, who has experience filing bonds in the Empire State, told CBS.

The chairman of KSIC is Don Hankey, who is a billionaire Trump supporter involved in the subprime auto loan industry. the New Republic reported this week that Hankey "carved out his $7.4 billion fortune" through "predatory practices, targeting low-income customers with high-interest auto loans." And the New York bond is not the first time Hankey has used his wealth on the former president's behalf.

"Hankey is also believed to be the largest shareholder in Axos Financial, according to MSNBC’s Lisa Rubin — a financial institution that, in 2022, refinanced more than $50 million of Trump's loans on Trump Tower and Trump National Doral Miami, according to documents filed with the Office of Government Ethics," the New Republic's Ellie Quinlan Houghtaling wrote.

http://www.smirkingchimp.com/thread...-to-company-that-guaranteed-trump-s-175m-bond

More evidence of what an incompetent, shrill leftist hack this douchebag is. This is called desperation. As stated many times, this case will be reversed on appeal it is so egregious and anti-constitutional.

 

[Truth Detector]

Actually, the reverse is true. It is probably not a good idea for a bonding company to try to harass a prosecutor. They need to provide the evidence.

WTF are you talking about halfwit? Good lord you're one dumb MOFo.

 

[Truth Detector]

The company is in the business of providing loans to weak credit customers. Who would guess they made billions off of it? It is reasonable to question whether they qualify to produce the crook Trump's bail.

Irrelevant you brain dead half-witted leftist hack. God you people are the dumbest assholes on the planet.

 

[Truth Detector]

My favorite part is that they made their fortune on "sub-prime auto loans," and did re-financing on some of Trump's properties in 2022. Bet they soaked him on interest rates for those loans. Trump's about as subprime as you can get. Hahahaha!

My favorite is watching low IQ hacks buy the manure they are being fed by leftist hack DAs.

 

[Truth Detector]

No, she's only going after Trump's nest of rats trying to help him evade the law by running scams.

She is the rat you brain dead dumbass.

 

[Truth Detector]

Totally understandable to request that the bonding agent can actually cover the costs they are committing themselves to cover, although, it does seem confusing why that wasn’t done before now.

She is just playing Trump’s game

Permanently stuck on moron.

 

[Truth Detector]

That Shvartza broad James impresses the hell out of me.

Way to go, Baby Girl.
Let's put this pigfucking orangutan DOWN!!!

 

[Truth Detector]

They have to do the paperwork and show they can deliver the bond money. That is not asking too much.

 

[Truth Detector]

NO.

Every bonding company in NYS (any State) MUST provide certain documents PROVING they are sufficient liquid, to provide a Bond, so that any loss in Appellate Court where the bond is to paid is not met with a bankruptcy claim by the Bond company.

This company put up the Bond, which is solely a piece of paper (promissory note) that they can and will pay, but DID NOT provide ANY of the required documentation substantiating it.

This is why E Jean's lawyer got to review and approve the Bond provided by Chubb Insurance, as the WINNER in the case always gets the burden put on them to review and dispute the bond,m if insufficient, to protect their winnings.

Of course with a giant Insurance company like Chubb, who is in the business of doing Bonds in NYS regularly, your diligence need is small. With a derp firm, like the one backing Trump here, who does NOT have a history of doing bonds in NYS, Letisha has to push them to provide all diligence, or if they do not and declare bankruptcy when it is time to pay, that is on her.

You seem to enjoy parroting the nonsense spoon fed to you by leftist hack DAs don't you. Such a gullible twit. No wonder you vote Democrat and think Biden is awesome.

 

[Truth Detector]

Aww, twumtards are such victims!

 

[Truth Detector]

And yet James is on the job now. What are you going to do about it?

James is a dumb Fascist hack who is flailing and desperate and will have her case thrown out on appeal. Perhaps it is why she's so desperate right now trying to prevent Trumps appeal.

 

[Truth Detector]

The court takes almost no action on its own.

 

[Walt]

No judge has the authority to select a bonding company.

A judge can reject a bond company, or reject a certain type of bond.

 

[Walt]

In the case of Trump's bond, it is covered for the full price should the bond default. However, because Trump is plenty rich enough to pay the entire 'penalty' (tax?) of ordered by the kangaroo court, and in cash, the bond itself won't default.

trump has defaulted on about $4 billion in his life, so has a long history of defaulting. We only recently found out that he had a $100 million mortgage on trump tower, and have no idea how much more of his assets have been hollowed out. Many of his assets are commercial real estate, which in this market is very difficult to future value. Most of the rest is his brand name, which is also very, very questionable.

trump has gotten a major gift that he is allowed to post a lower bond. It is a minor gift that he could post any bond. Defaulting on the bond this early in the process is a real mess for trump.