Rachel Maddow asked a question that will probably have to be answered in court too. What did Trump do to deserve such a generous bond?
Maddow said:
Explicitly, he would take the properties as collateral. It wasn’t a problem for him. Trump’s lawyers apparently never told the court that this guy had offered to post bail. In fact, they told the court that no one would pay this bail. The appeals court, apparently believing that no one would post bail, then lowered the bail, lowering it to $175 million, which was then covered by this guy who had already offered to post the much larger amount even if the court was told by Trump’s lawyers say no one would do it. What did Trump have to do to receive such generosity from a man who is not so generous after all. A man who would after all illegally threaten to lock you up for missing a car payment. According to the Consumer Financial Protection Bureau, whose bank charged a Harlem soul food restaurant 268% interest on its business loan. A guy who was demanding daily payments from a small business in Massachusetts for which he was charging over 90% interest doesn’t seem like a guy who was involved in a lot of super generous deals. How much does he charge Trump for this $175 million favor?
Reuters Quote Don Hankey, the billionaire businessman whose company provided the $175 million bond that Trump issued in his New York civil fraud case, told Reuters that the commission that his company charged the former US president for the bond was low. Hankey declined to disclose the fee. Lawyers say collateral companies typically charge a fee of between 1 and 2 percent of the bond’s face value, which in this case would mean his fee should have been between $1.75 million and $3 million. of dollars. Citation. Hankey says he now believes his company didn’t charge Trump enough.
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Video:
The big question Trump and Hankey will have to answer in court is: What did Trump promise Hankey in exchange for this lovely deal?
There have been some misleading reports that the bond has been kicked out and Letitia James may begin seizing Trump’s property, but this is not accurate. The hearing hasn’t happened yet, but when it does, if Hankey can’t prove he’s a legitimate and legal source of the bond, he could be rejected and Trump will have to go back to seeking the bond.
There are many shady elements in the anti-fraud bond.
They all deserve careful scrutiny.
This part of the story is not over.
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Jason is the managing editor. He is also a member of the White House press pool and a congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His graduate work focused on public policy, with a specialization in social reform movements.
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