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submitted 4 months ago by MicroWave@lemmy.world to c/politics@lemmy.world

Fox News host Mark Levin has called out billionaires for not paying Donald Trump's legal bills after the former president's legal team said paying his $400 million New York civil fraud penalty would be "a practical impossibility."

Trump is seeking a bond of $464 million to cover his fines and a stay in the execution of the monetary portion of the civil trial ruling after Judge Arthur Engoron ruled in February that Trump must pay $355 million for committing fraud. The New York court held that Trump and top executives at The Trump Organization inflated the value of his assets to obtain more favorable terms from lenders and insurers. With interest, the full payment will be roughly $454 million. Trump's lawyers are appealing the verdict.

On Monday, the Republican suffered a setback after Trump's legal team admitted in a court filing that it is a "practical impossibility" for him to make the $464 million payment and requested a stay pending the outcome of an appeal process. His team had contacted 33 companies to try to secure funding.

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[-] Gingerlegs@lemmy.world 116 points 4 months ago

Why doesn’t he just pick himself up by his bootstraps and get the 450 million going, lazybones

[-] PlasticExistence@lemmy.world 54 points 4 months ago

Nobody wants to work anymore!

[-] thefartographer@lemm.ee 9 points 4 months ago

Being a billionaire just isn't worth it anymore. Nowadays, anyone can create a billion using AI. Sure, real billionaires and billionaire fans can tell the difference, but it's convincing enough that most people don't even care if it's artificially created billions. What's even the point now?

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[-] AdamEatsAss@lemmy.world 15 points 4 months ago

Didn't he already turn a small $1million loan into a billion dollar empire. Surely, he could turn whatever he has now into the small amount of $450 million

[-] mosiacmango@lemm.ee 11 points 4 months ago

Yeah, of course like everything else that lie is also full of lies. The "small loan" was actually 70 million dollars, and then he inherited 450 million on his fathers death. If he had put that in a total stock market fund and done nothing at all, he would have something like 13 billion dollars. Instead, he may or may not have 2-4 billion in total assets.

[-] whotookkarl@lemmy.world 4 points 4 months ago

I don't know if the inheritance is public record but I thought the 70 mil was his inheritance and his brother got the lion's share until his brother died and passed it on to Donald.

[-] Eatspancakes84@lemmy.world 4 points 4 months ago

I mean that’s really not fair. If he had invested in the stock market he would have had 13 billion that could be sold at any time without any significant loss of value. On the other hand, his real estate is probably worth less than a billion in a fire sale.

[-] SoupBrick@yiffit.net 8 points 4 months ago

He is the most intelligent business man on the face of the earth, right?

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[-] Greyghoster@aussie.zone 74 points 4 months ago

Isn’t Trump supposed to be a billionaire? Surely a billionaire can pay his own bills! Maybe he isn’t the billionaire he claims to be.

[-] IphtashuFitz@lemmy.world 35 points 4 months ago

Not just a billionaire but he testified under oath a month or so ago that he had approximately $400 million in cash so covering the whole thing himself should be relatively easy.

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[-] WoahWoah@lemmy.world 7 points 4 months ago* (last edited 4 months ago)

I imagine you probably don't become a billionaire by just letting people force you to pay your "bills," or by following "the law," or by caring about "people," or by responding to ethical "responsibilities."

Probably you become a billionaire by doing the opposite, but idk

[-] givesomefucks@lemmy.world 57 points 4 months ago

"Perhaps a billionaire could imagine throwing away half a billion dollars, but even they tend to want to be paid back. Trump could sell buildings, but commercial real estate is in a slump, so it's not a good time for him to do that.

Elon Musk loves setting money on fire apparently, so it is actually surprising he's not bailing trump out...

[-] MrNesser@lemmy.world 18 points 4 months ago

Even musk must know a bad business proposition Paying that bond will pit you directly in the cross hairs of various agencies

[-] givesomefucks@lemmy.world 16 points 4 months ago

Yeah...

The same agencies that forced him to buy Twitter and trump will attack if he gets power.

Musk is 100% dumb enough to foot the bill thinking if trump wins he gets it back, and gets more free reign to do what he wants without government interference.

If he had the money, I legit wouldn't be surprised if he put up some money.

Like, you can't rule out Musk or trump doing something because its irrational. Most of what they do is irrational

[-] Tar_alcaran@sh.itjust.works 5 points 4 months ago

Musk already got a 2b contract out of NASA, and all it cost him was to give the lady who signed it a cushy job.

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[-] jordanlund@lemmy.world 52 points 4 months ago

Something something bootstraps.

Something something "personal responsibility."

Something something "own fault."

[-] OldWoodFrame@lemm.ee 52 points 4 months ago

"Why are there no Republican multi-billionaires offering to lend President Trump the funds to file his appeal in the outrageous case in NY state?"

Donald Trump is a Republican multi-billionaire, maybe he should pitch in.

[-] Zombiepirate@lemmy.world 40 points 4 months ago

He should just go without his lattes & avocado toast and stop buying phones if he can't afford his lifestyle.

[-] baldingpudenda@lemmy.world 45 points 4 months ago

Why doesn't trump, a "billionaire", pay his own damn bond? You just said Blbillionaires can afford it.

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[-] RememberTheApollo_@lemmy.world 44 points 4 months ago

Isn’t that taxing the rich to pay the poor? Redistribution of wealth? Welfare?

Is that what Fox is advocating?

[-] Asafum@feddit.nl 12 points 4 months ago

Rules only apply to their enemies.

[-] DaddleDew@lemmy.world 36 points 4 months ago* (last edited 4 months ago)

Fox News: "Bilionaires should pay their fair share"

OK.

[-] RealFknNito@lemmy.world 25 points 4 months ago

This is it. This is where Republicans turn on the wealthy and we finally start taxing them.

Please let this be it.

[-] Killer_Tree@sh.itjust.works 11 points 4 months ago

It could be that anyone with that level of liquid assets available knows that a "loan" will never be paid back - it was PROVEN that the Trump Org engaged in fraudulent activity, so the appeal is just to try to gain some time. Anyone who puts up cash pending the appeal will definitely lose it once the process confirms what the courts have already ruled.

[-] MyPornViewingAccount@lemmy.world 24 points 4 months ago

tHaTs SOciAlISm!

[-] ThePantser@lemmy.world 22 points 4 months ago

Why cant he just pull up his bootstraps and get a job?

[-] Rentlar@lemmy.ca 20 points 4 months ago

Find someone who values those properties the amount you say they are and then we'll talk.

-New York State.

[-] Boddhisatva@lemmy.world 17 points 4 months ago

I'm just waiting for the 24th when it's revealed that MBS is buying a $50 million property from Trump for $550 million thus solving all Trump's problems. It's not like that sort of thing is completely unheard of for Trump. This is just a larger scale.

[-] riskable@programming.dev 14 points 4 months ago

In response, billionaires should get together and donate a few billion dollars to public defenders, pay off people's medical debt, and offer to buy Mar-a-Lago in order to turn it into public housing.

[-] Zugyuk@lemmy.world 9 points 4 months ago

Al Lago is a chintzy motel with a shitty omelette bar. estimated value of less than 5% of the ruling. He's going to have to sell his bedbug infested resorts and ugly golf courses too

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[-] rainynight65@feddit.de 12 points 4 months ago

I'd say this is a mess of Trump's own making. Nobody forced him to perform the actions that got him into this legal trouble. If you can't afford the penalty, don't do the crime.

[-] jkrtn@lemmy.ml 10 points 4 months ago

Why don't the Fox News owners pay them if they want to so bad? Idiots.

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[-] Jackcooper@lemmy.world 10 points 4 months ago

I also want to see billionaires spend their money on things that I want them to

[-] carl_dungeon@lemmy.world 8 points 4 months ago
[-] b3an@lemmy.world 8 points 4 months ago

Someone needs to write a book.. “The Fart and the Squeal: A history of the Trump dump” with all proceeds going to charities. I want to raise more money for that than he ever could for his litigation obligations.

[-] OhStopYellingAtMe@lemmy.world 8 points 4 months ago* (last edited 4 months ago)

I’m sure there are still a few Russian oligarchs who have enough liquid assets to bail trump out, in return for some massive political favors once they help him con enough rubes into electing him again.

[-] riskable@programming.dev 4 points 4 months ago

The problem is that Trump didn't do enough for them when he was in power and they don't think he could win again. To the oligarchs, Trump is a lost cause. Trash that they don't even have to clean up themselves.

[-] Dagwood222@lemm.ee 7 points 4 months ago

On top of everything else, he had months to prepare for this eventuality.

Wouldn't the greatest businessman of his generation know that it takes time to raise that kind of money?

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[-] mosiacmango@lemm.ee 5 points 4 months ago

How much has Mark Levin kicked in? Surely he can loan Trump 5 or 10 million to help him get there.

I wonder why he hasn't?

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this post was submitted on 20 Mar 2024
284 points (94.9% liked)

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