Correction: An earlier version of this post said there aren’t major institutional investors in Truth Social. In the SPAC there are a few, most notably Susquehanna International Group LLP, which was co-founded by GOP megadonor Jeffrey Yass.
Yass is a major investor in China’s ByteDance, which owns TikTok. Trump’s about face on banning the app may have resulted from pressure from Yass, underscoring my main point that Trump will be for sale via DJT stock.
How are we to reconcile that trump on the one hand is supposedly this slick mastermind about to pull off the biggest scam of his lifetime while holding complete power over supposedly intelligent members of Congress yet on the other hand we are being told that he is swiftly slipping into dementia and doesn’t know up from down. Some days I feel like I’m getting whiplash just reading the different accounts of his state of mind.
This isn't some great master plan to someone who has spent their entire life grifting. It's just another day. He does have some signs of dementia, or at the least cognitive stress. But that and conning aren't mutually exclusive.
I knew there’d be a China-connection as soon a tRump reversed his position on Tik-Tok: China wants Taiwan; tRump is corrupt enough to hand it to them, just like he handed Jerusalem and the US Embassy to Netanyahu, while giving Putin the nod to formally invade Crimea on the very, same day.
Nothing is more important than VOTING in November. No court case is more important, no judgment, nothing! It is and always has been up to us to beat him.
"Defeating Trump was never going to be straightforward" - words to live by this election year! Words to stay motivated by Jay. Thank you for all you do!
I would say: nothing is more important than voting in November if you live in a SWING state. I live in the District of Columbia. I will certainly vote to express my personal preference, but my vote is pretty meaningless compared to, say, a Michigan resident's vote. The system is not conducive to encouraging voting, in many ways.
Orange-Grifter suffers from a narcissistic personality disorder.
According to the National Institutes of Health, citing the DSM 5:
Per the DSM, NPD includes:
A pervasive pattern of grandiosity (fantasy or behavior), need for admiration, and with lack of empathy, beginning by early adulthood, as indicated by at least five of the following:
Has a grandiose sense of self-importance (e.g., exaggerates achievements, expects to be recognized as superior without actually completing the achievements)
Is preoccupied with fantasies of success, power, brilliance, beauty, or perfect love.
Believes that they are "special" and can only be understood by or should only associate with other special people (or institutions).
Requires excessive admiration.
Has a sense of entitlement, such as an unreasonable expectation of favorable treatment or compliance with his or her expectations).
Is exploitative and takes advantage of others to achieve their own ends.
Lacks empathy and is unwilling to identify with the needs of others.
Is often envious of others or believes that others are envious of them.
Shows arrogant, haughty behaviors and attitudes
The diagnosis of NPD as other personality disorders requires evaluation of long-term patterns of functioning. One needs to be cautious not to jump to hasty conclusions because NPD can trigger countertransference. A careful evaluation of the different aspects of a person's life and an understanding of the person's childhood development can assist in the evaluation and diagnosis of NPD.
Kiwiwriter47: Your writing on math anxiety and your strength with literature is some very fine writing, and I do NOT tire of reading that series and your series on the Holocaust.
You are excellent with the pen, and I love your pieces!
I will repost some of yours soon. I have an upcoming trip to Budapest and I am still trying to get technically proficient with Substack beyond merely publishing notes to being able to "Post". All attempts have foundered on the shoals of my IT ineptitude. But I will soon publish, and YOU are among the top of those I will recommend and repost.
Both my parents were narcissists. I’m 65, and even after decades in therapy, I’ll carry the scars and trauma to my grave. You have my support and understanding.
It was bad enough that people could make money simply by having money. Now you can make money simply by convincing people you have money, when (as in Trump’s case) you clearly don’t.
This interview discusses the film God & Country, which is explaining how the White Nationalist Evangelicals have a symbiotic relationship with Treacherous-treasonous-traitor-Trump. https://youtu.be/Q8QasbXXNZc?si=sR_Np_YFMmxLnvdQ
They just said it would be 6 months before he could access the money and there are no guarantees it will still be worth the same by then. Lots can happen between now and then. Now he has the problem he may have caused himself some problems this morning. His attorneys filed court papers that said he couldn't come up with the money and wanted a stay. Now suddenly this morning on truth social he posted he had the money. Unless someone gave him the money then he's lying. Time will tell but the judge is certainly asking questions.
“Any lockup change or waiver will be decided by the post-merger company’s board, which will be stocked with Trump allies, an SEC filing shows. The board’s nominees include Trump’s oldest son, Donald Trump Jr.; Trump’s former trade representative, Robert E. Lighthizer; Linda McMahon, who headed the Small Business Administration under Trump; and Kash Patel.”
Someone else further down shed some light on this. The TFFG shares are his assets and the NY AG might be able to put on lien on them, but if incorporated and held out of state it’s trickier.
Problem with those shares it that they will end up being penny stocks. Take the real estate or cash, those are sure bets. They actually hold value. The stocks, not so much. Holding them as collateral will be like holding smoke.
One would hope, but this is a totally separate corporation, one that will be a publicly traded stock company, not closely held private company like his New York company. I wonder in which state the Truth Social is incorporated? If outside of New York, it may be out of reach of Judge E. And the special monitor.
This merger has been in the works for quite a while. They may be rushing to complete it by Monday, or the timing may be coincidental with the deadline for the bond, but the merger didn't just appear out of thin air.
Also, apparently the judge who is in charge of his holdings right now, has a lot of power over him. She has to give him permission for each thing he does when it comes to his money.
MSM is all hype with headlines of “Leticia prepares to seize properties . . .” But, (and I did post some of this) the business news outlets were making note of this impending offer. It’s no longer enough to demonize the MSM—they are owned and operated by conglomerates whose billionaire CEOs support the RNC. Voters have to do their own homework. Period.
This country is chained down by fascist billionaires who control almost everything. All that’s left is the veneer of “free elections,” which tRump has proven to be vulnerable. . . And we can’t even seem to get justice for THAT, down in Georgia . . . Where a Libertarian Judge has turned his courtroom into a circus over consenting adults having an affair.
It would be stupid to try to grab those shares. They will not hold value. The DANY will get pennies on the dollar. Better to get the cash in accounts and real estate.
Let trump convert his stocks to CASH and let him pay cash for the money he owes. Seriously, cash is king, stock is trash. (It's not like his trump social stock is Microsoft or something that holds value. Apple may not be so well after the EU went after it and now the US is going after.)
I didn't say sieze. With a lien in place, Trump is still stuck with the shares, but any money he makes from selling them goes first to satisfy the judgement. So he can scheme all he likes.
It would still be stupid because those are going to drop like a rock in value. The money is in the banana stand.... Go for things with known value. His bank accounts - actual cash! His good properties (there are a few that are more than lot value, trump tower is lot value.)
AG James is eyeing his Wall Street property (40 Wall St) and the Seven Springs property upstate. 40 Wall has a value of about $200 million. Seven Springs may be about $50 million but it would need to be appraised to get a true value. If he does have 500 million in the bank like he says he does, then the debt is taken care of after seizing the money and some of the properties.
In six months the stock in trump social will likely be very low. The cash in banks and the good real estate is a better bet.
She could possibly go after his timeshare in Florida. Technically, it can't be his full time residence since he signed documents to that effect so it wouldn't be sheltered under the homestead rules they have. But he also owns other private residences in Florida that might be easier to go after and easier to unload for a good price. But each are likely not worth more than a couple million each. Maralardo is a bit of white elephant even with the timeshare community built there.
You are correct about a lien though. With a lien she can have any monies coming in come straight to NYS instead of trump. So any rent payments, royalty payments, etc can go to the state. The drawback is that it's a slow pay method. It will take years to make a dent in the debt that way. And a lien also puts the state in line with the other creditors.
The one big problem with his properties is that it is likely already over leveraged with mortgages, possibly multiple mortgages, so those would have to paid off first. So the value the state can get out of the properties may be much smaller than the actual appraised value of the property. That just means she will have to seize more and more of his properties to get the money owed.
I am almost 70 years old, and have spent the better part of my life believing (naively, I guess) in the inherent goodness in people. Since 2015, this belief system has been sorely tested. I have always believed that goodness and honesty would/should be “rewarded” and that bad behavior/intentions would be “punished”.
This news that TFFG, a person so devoid of ANY redeeming qualities is going to be rewarded with billions of dollars is such an assault on my belief system that it makes me feel a deep, visceral anger and physically ill.
Is there to be no justice, ever, for this horrible excuse for a human being?? 😡😩🤮
The problem as I see it is, the wealthiest people have been taking from the rest of us & unfairly continue to see their wealth grow - see income inequity charts since 1980s. The Reagan administration did this and most of us suffer. Meanwhile, the top 1% have too much incentive (& no regulatory limits) to hold to what they see as rightfully theirs.
I know it its terrible and just when you think justice is coming you find out that it's just a paper tiger with countless faceless billionaire villans behind him ready to help him
"The media needs to do a much better job warning..." They need to start reporting on all the crap he does, so why don't they? Are they also afraid of him? Do they think that his base will stop watching? This is how fascism carries on....
One of the problems around reporting on Trump is that people have come to expect him to be so horrible that it hardly is news when he does something criminal or vile, while it is “news” worthy of endless stories that, say, Hillary Clinton used a private email server or Joe Biden is elderly. It is the perceived public need for “new” headlines that drive the imbalance in reporting.
You are right. But I do not hear on "main stream" news much about how "bad" he is. I was thinking that they think if they report on how horrible djt is, then they have to give equal time to Biden.
Um, don't we have the SEC?? Wouldn't they get ahead of this, along with the DOJ, and put it on hold until after the election, at least? I mean, c'mon, even a novice like ME can see this!
Really? What about the Emoluments Clause? Would that be enough of a red flag that an action could be taken, in the interest of the people of the US? Then, let trump throw it to the corrupt SC, and see how quickly they act on it. Maybe THAT would get some attention.
Two things: Trump isn't currently President, and does the emoluments clause apply to candidates for the presidency? And, as became clear during his "administration," the emoluments clause doesn't seem to have very sharp teeth.
I like that; "administration"! We should always put it in quotes, so it's differentiated. First question is I don't know, but it should. From the moment you are deemed the party's candidate for the general election, divestiture should begin. I know Carter and Bush Jr. did. Second, for whatever reason, the DOJ never went after trump to enforce the clause. Maybe what we REALLY need is a DOJ with some balls!!
That is unfortunate. But, it gives us another point of argument for law change once we take on overwhelming majority in the House and Senate this November! Maybe then, we can return to "normal" and "ethical".
The problem with that is that it is not a "crime" as described by any criminal code. It should be an impeachable offense, but we've seen how that goes.
According to the current Supreme Court, violating much of the Constitution isn’t a crime unless Congress specifically passes a statute saying it is, further defining it, an enforcement mechanism, and a punishment.
So much for the Rule of Law and the highest law of the land. Other than the original articles defining the three branches of government, the rest of the Constitution and the Amendments are just suggestions.
I think you are looking at this too much as a stock, when it is simply a donations basket to pass around to the Russians and Chinese to allow them to freely help Trump get into office and to make him a puppet when he is there. Those buyers won't care whether it is a good investment in the phony stock, they'll just be using it as a way to skirt the law and buy a president. Knowing Trump, he would never honor such a debt, but it could easily make him see these guys even more as his best buddies and wonderful people that he loves more than his country.
Vote Democratic. Volunteer in the strong and persistent grassroots efforts. We can and we will win by keeping focused and diligent and working hard in support of democracy!
As a veteran who lives on disability, which never keeps up with inflation, it both depresses and pisses me off that our legal system not only allowed this POS to escape accountability for his crimes but enables him in doing so from start to finish. There will always be those who can be and those who want to be duped and led around by the nose so that’s a given. But to watch him escape accountability and get rich doing so …. Argh!!
When you're flush, it's always on paper, but when you're broke it's always in cash. (Aristotle, attrib.)
The bright shiny new company, ticker DLJ, has more than the usual share of IPO bells and whistles. Tracking down all the SEC filings and putting pieces together is a massive headache, which you really can't do online. Sometimes the old ways are the best ways and I decided to pass on printing out the whole mess to review them the way I used to when I was a corporate finance and securities lawyer.
It does have a strong odor of side deals from the complexity. Trump is not astute enough to put a deal like this together. The smart money did as part of an elaborate pump and dump scheme to exploit the meme qualities of the stock. I use pump and dump as an analogy because I'm sure this was put together carefully enough to stay within the law.
The enterprise, from what I can tell, is not going to begin operations with much in the way of assets. Probably no capital assets, real estate, etc. Some plant and equipment consisting mostly of office furniture and equipment maybe. The big ticket item, impossible of valuation is some poorly defined intellectual property associated with the Trump brand. To date, there's been little revenue, no profit and as far as I can see no business plan. DJT is not something that a prudent investor would put in a long-term portfolio for its potential dividend payouts. Not would she buy it in anticipation that retained earnings will steadily grow the book value. DJT is a pure momentum stock that derives it's value from market sentiment—what traders at the margin think what other traders at the margin collectively think what the stock will trade at. Think Beanie Babies or musical chairs.
Consider, too, that Trump is a wasting asset—his life expectancy given age is about 10 years. Given appearances of general health possibly less. When he's gone, what's the business going to consist of? The Best of Truths? User data? So far as I can tell from news coverage no Trump children are being positioned to take his place as the star attraction. Then there is the uncertainty around his internet access should he fall under the custody of the Bureau of Prisons.
As Jay notes, even after the lockup period expires, no one can just flood the market and turn a quick buck because given the meme nature of the stock, most of the fan base are likely to be odd lot customers. And then, there's this consideration: the shares to become available aren't automatically ready to sell. It's not DLJ shares that are registered, per se, it is the act of selling, the transaction. What the promoters will have are registration rights, meaning that the sales can rely on the same registration statement. Just update the prospectus.
There's the soft spot. The prospectus will require disclosures from an organization whose major stakeholder has a very poor reputation for accuracy of financial reporting in general and zero recent experience in financial reporting for a publicly traded company. Sarbanes-Oxley will be a difficult concept to assess, also.
All in all, the realizable cash value on the future sale is uncertain.
As far as the potential purchasers of large lots in the future, we can look to Form 13G filings for some insight to the beneficial owners, although that won't be perfectly transparent.
Great in-depth analysis from someone that sounds like they know all the ins and outs from decades in that line of work.
I too was wondering about various SEC filing forms and issued prospectus. What could they divulge as to the identity of major shareholders? How difficult would it be to hide the Chinese and Saudi money, changing the names to protect the guilty? Multi-layered fund groups deep enough to hide the money origins?
If TFG needs to liquidate $600 million for court fines and bonds, some convenient benefactor out of the Middle East could easily buy the shares to be sold at no decrease in stock price.
The prospectus will probably make some disclosure of the legal entities involved in offering the previously restricted securities for sale. But my learning is getting rusty, and I could be wrong.
There is a fairly comprehensive set of filing requirements for investors who acquire more than a 5% share in the company and it drills through to the person or persons who ultimately control the voting and disposition of the shares. These are Form 13D for investors who purchase to control and a less detailed Form 13G for 5% purchasers who don't have plans to control.
Trump's interests in DJT are a controlling interest, so if he were to sell it all, he would lose control and for the person or persons buying the 5% pieces of the company there would need to be some degree of consideration of the choice between the two disclosures. If he did sell it all, an investor might wonder if he were going to continue to provide the oxygen to the furnace, because he's really the product.
Someone trying to give the guy some cash through buying the shares is not the cleanest way to do it. But, if it's a gift there's about a 40% tax hit, and that will buy a lot of jumping through hoops.
Thank you. I’ve come to the conclusion, like most if not all things Trump, big, small, main and blog stream media are making, much to Trump’s delight, a bigger deal out of this than can be legally, financially, logistically, and logically possible. The company has little to no income, runs big loses, is all branding and no merchandisable product, and to almost everyone’s delight will be a penny stock in twelve months. The only question will be who’s left holding the bag.
Correction: An earlier version of this post said there aren’t major institutional investors in Truth Social. In the SPAC there are a few, most notably Susquehanna International Group LLP, which was co-founded by GOP megadonor Jeffrey Yass.
Yass is a major investor in China’s ByteDance, which owns TikTok. Trump’s about face on banning the app may have resulted from pressure from Yass, underscoring my main point that Trump will be for sale via DJT stock.
WOW!!! It just gets deeper and deeper. I'm not sure the planet can handle this much fertilizer!
Yass? Surprise. What are the others in "there are a few"?
How are we to reconcile that trump on the one hand is supposedly this slick mastermind about to pull off the biggest scam of his lifetime while holding complete power over supposedly intelligent members of Congress yet on the other hand we are being told that he is swiftly slipping into dementia and doesn’t know up from down. Some days I feel like I’m getting whiplash just reading the different accounts of his state of mind.
This isn't some great master plan to someone who has spent their entire life grifting. It's just another day. He does have some signs of dementia, or at the least cognitive stress. But that and conning aren't mutually exclusive.
I knew there’d be a China-connection as soon a tRump reversed his position on Tik-Tok: China wants Taiwan; tRump is corrupt enough to hand it to them, just like he handed Jerusalem and the US Embassy to Netanyahu, while giving Putin the nod to formally invade Crimea on the very, same day.
I just discovered this ProPublica investigation into Jeffrey Yass, the billionaire most of us have not heard off until now.
https://www.propublica.org/article/jeff-yass-susquehanna-tiktok-tax-avoidance
Nothing is more important than VOTING in November. No court case is more important, no judgment, nothing! It is and always has been up to us to beat him.
Indeed ChrisO! It's up to US to beat him and everyone else who is buying into this MAGA attitude of greed and personal power at the cost of others!
Carefully consider EVERYONE we vote for in November. Understand where their motivations actually originate!
"Defeating Trump was never going to be straightforward" - words to live by this election year! Words to stay motivated by Jay. Thank you for all you do!
Yes.
I would say: nothing is more important than voting in November if you live in a SWING state. I live in the District of Columbia. I will certainly vote to express my personal preference, but my vote is pretty meaningless compared to, say, a Michigan resident's vote. The system is not conducive to encouraging voting, in many ways.
The site's only purposes were to:
1. Make him money
2. Provide him with somewhere to rant publicly
Kiwiwriter47: Concise and well-spoken.
Orange-Grifter suffers from a narcissistic personality disorder.
According to the National Institutes of Health, citing the DSM 5:
Per the DSM, NPD includes:
A pervasive pattern of grandiosity (fantasy or behavior), need for admiration, and with lack of empathy, beginning by early adulthood, as indicated by at least five of the following:
Has a grandiose sense of self-importance (e.g., exaggerates achievements, expects to be recognized as superior without actually completing the achievements)
Is preoccupied with fantasies of success, power, brilliance, beauty, or perfect love.
Believes that they are "special" and can only be understood by or should only associate with other special people (or institutions).
Requires excessive admiration.
Has a sense of entitlement, such as an unreasonable expectation of favorable treatment or compliance with his or her expectations).
Is exploitative and takes advantage of others to achieve their own ends.
Lacks empathy and is unwilling to identify with the needs of others.
Is often envious of others or believes that others are envious of them.
Shows arrogant, haughty behaviors and attitudes
The diagnosis of NPD as other personality disorders requires evaluation of long-term patterns of functioning. One needs to be cautious not to jump to hasty conclusions because NPD can trigger countertransference. A careful evaluation of the different aspects of a person's life and an understanding of the person's childhood development can assist in the evaluation and diagnosis of NPD.
See:
https://www.ncbi.nlm.nih.gov/books/NBK556001/
In other words, he's just like my mother, only on a titanic scale.
I grew up with that.
I thought it was normal.
Mom did a very efficient job of ripping out my self-esteem and replacing it with self-loathing.
Kiwiwriter47: Your writing on math anxiety and your strength with literature is some very fine writing, and I do NOT tire of reading that series and your series on the Holocaust.
You are excellent with the pen, and I love your pieces!
I will repost some of yours soon. I have an upcoming trip to Budapest and I am still trying to get technically proficient with Substack beyond merely publishing notes to being able to "Post". All attempts have foundered on the shoals of my IT ineptitude. But I will soon publish, and YOU are among the top of those I will recommend and repost.
Thank you always for sharing!
I wrote about it in my three-part Sub Stack "Mathematics and Me."
It's probably another reason I hate the Bloated Yam so much...bad enough I had to put up with a version of him in my life, now he's on the air 24-7.
Thanks for your note.
Both my parents were narcissists. I’m 65, and even after decades in therapy, I’ll carry the scars and trauma to my grave. You have my support and understanding.
We both will.
I hope you were able to dangle your achievements in the face of them before they died, as I did with my mother.
It was bad enough that people could make money simply by having money. Now you can make money simply by convincing people you have money, when (as in Trump’s case) you clearly don’t.
You gotta hand it to him - he is the grifter of all grifters and sucks in the suckers with ease. 😡
He is a charismatic leader, and just like other charlatan preachers, he is preaching to his flock of willing and stupid sheep.
I just don't get the appeal. On any level.
This interview discusses the film God & Country, which is explaining how the White Nationalist Evangelicals have a symbiotic relationship with Treacherous-treasonous-traitor-Trump. https://youtu.be/Q8QasbXXNZc?si=sR_Np_YFMmxLnvdQ
They just said it would be 6 months before he could access the money and there are no guarantees it will still be worth the same by then. Lots can happen between now and then. Now he has the problem he may have caused himself some problems this morning. His attorneys filed court papers that said he couldn't come up with the money and wanted a stay. Now suddenly this morning on truth social he posted he had the money. Unless someone gave him the money then he's lying. Time will tell but the judge is certainly asking questions.
It all comes down to timing, and if he can get away with changing the 6-mo lock out agreement.
More grifting about to happen.😏
According to WAPO article:
“Any lockup change or waiver will be decided by the post-merger company’s board, which will be stocked with Trump allies, an SEC filing shows. The board’s nominees include Trump’s oldest son, Donald Trump Jr.; Trump’s former trade representative, Robert E. Lighthizer; Linda McMahon, who headed the Small Business Administration under Trump; and Kash Patel.”
Isn't this too covered by judge Engoron's latest extension of the powers of the Trump company monitor.
No allowances for further grifting.
Someone else further down shed some light on this. The TFFG shares are his assets and the NY AG might be able to put on lien on them, but if incorporated and held out of state it’s trickier.
Problem with those shares it that they will end up being penny stocks. Take the real estate or cash, those are sure bets. They actually hold value. The stocks, not so much. Holding them as collateral will be like holding smoke.
One would hope, but this is a totally separate corporation, one that will be a publicly traded stock company, not closely held private company like his New York company. I wonder in which state the Truth Social is incorporated? If outside of New York, it may be out of reach of Judge E. And the special monitor.
This merger has been in the works for quite a while. They may be rushing to complete it by Monday, or the timing may be coincidental with the deadline for the bond, but the merger didn't just appear out of thin air.
Also, apparently the judge who is in charge of his holdings right now, has a lot of power over him. She has to give him permission for each thing he does when it comes to his money.
MSM is all hype with headlines of “Leticia prepares to seize properties . . .” But, (and I did post some of this) the business news outlets were making note of this impending offer. It’s no longer enough to demonize the MSM—they are owned and operated by conglomerates whose billionaire CEOs support the RNC. Voters have to do their own homework. Period.
This country is chained down by fascist billionaires who control almost everything. All that’s left is the veneer of “free elections,” which tRump has proven to be vulnerable. . . And we can’t even seem to get justice for THAT, down in Georgia . . . Where a Libertarian Judge has turned his courtroom into a circus over consenting adults having an affair.
The simplest explanation, based on evidence, is most often correct. Spot on Dawna.
Jay, isn't it true that the moment Trump becomes the owner of those shares, the DANY can file a lien on them pursuant to the judgment?
I believe she can, but collections is not really in my wheelhouse!
Thank you, Bill, for that tiny spark of hope. A lien would take some of the sting out of this vileness.
It would be stupid to try to grab those shares. They will not hold value. The DANY will get pennies on the dollar. Better to get the cash in accounts and real estate.
Let trump convert his stocks to CASH and let him pay cash for the money he owes. Seriously, cash is king, stock is trash. (It's not like his trump social stock is Microsoft or something that holds value. Apple may not be so well after the EU went after it and now the US is going after.)
I didn't say sieze. With a lien in place, Trump is still stuck with the shares, but any money he makes from selling them goes first to satisfy the judgement. So he can scheme all he likes.
It would still be stupid because those are going to drop like a rock in value. The money is in the banana stand.... Go for things with known value. His bank accounts - actual cash! His good properties (there are a few that are more than lot value, trump tower is lot value.)
AG James is eyeing his Wall Street property (40 Wall St) and the Seven Springs property upstate. 40 Wall has a value of about $200 million. Seven Springs may be about $50 million but it would need to be appraised to get a true value. If he does have 500 million in the bank like he says he does, then the debt is taken care of after seizing the money and some of the properties.
In six months the stock in trump social will likely be very low. The cash in banks and the good real estate is a better bet.
She could possibly go after his timeshare in Florida. Technically, it can't be his full time residence since he signed documents to that effect so it wouldn't be sheltered under the homestead rules they have. But he also owns other private residences in Florida that might be easier to go after and easier to unload for a good price. But each are likely not worth more than a couple million each. Maralardo is a bit of white elephant even with the timeshare community built there.
You are correct about a lien though. With a lien she can have any monies coming in come straight to NYS instead of trump. So any rent payments, royalty payments, etc can go to the state. The drawback is that it's a slow pay method. It will take years to make a dent in the debt that way. And a lien also puts the state in line with the other creditors.
The one big problem with his properties is that it is likely already over leveraged with mortgages, possibly multiple mortgages, so those would have to paid off first. So the value the state can get out of the properties may be much smaller than the actual appraised value of the property. That just means she will have to seize more and more of his properties to get the money owed.
So, how do we convince the media to focus on this story?
Tagging them on the X platform, vile as it is, often works.
Starts with writing to the journalists and editors.
Check out the Media and Democracy Project (MAD): https://www.mediaanddemocracyproject.org/
That is an excellent question.
I am almost 70 years old, and have spent the better part of my life believing (naively, I guess) in the inherent goodness in people. Since 2015, this belief system has been sorely tested. I have always believed that goodness and honesty would/should be “rewarded” and that bad behavior/intentions would be “punished”.
This news that TFFG, a person so devoid of ANY redeeming qualities is going to be rewarded with billions of dollars is such an assault on my belief system that it makes me feel a deep, visceral anger and physically ill.
Is there to be no justice, ever, for this horrible excuse for a human being?? 😡😩🤮
The problem as I see it is, the wealthiest people have been taking from the rest of us & unfairly continue to see their wealth grow - see income inequity charts since 1980s. The Reagan administration did this and most of us suffer. Meanwhile, the top 1% have too much incentive (& no regulatory limits) to hold to what they see as rightfully theirs.
I know it its terrible and just when you think justice is coming you find out that it's just a paper tiger with countless faceless billionaire villans behind him ready to help him
Vickie, I very much appreciate your kind words. 😊
"The media needs to do a much better job warning..." They need to start reporting on all the crap he does, so why don't they? Are they also afraid of him? Do they think that his base will stop watching? This is how fascism carries on....
One of the problems around reporting on Trump is that people have come to expect him to be so horrible that it hardly is news when he does something criminal or vile, while it is “news” worthy of endless stories that, say, Hillary Clinton used a private email server or Joe Biden is elderly. It is the perceived public need for “new” headlines that drive the imbalance in reporting.
You are right. But I do not hear on "main stream" news much about how "bad" he is. I was thinking that they think if they report on how horrible djt is, then they have to give equal time to Biden.
Um, don't we have the SEC?? Wouldn't they get ahead of this, along with the DOJ, and put it on hold until after the election, at least? I mean, c'mon, even a novice like ME can see this!
There isn’t anything technically illegal about it that the SEC hasn’t already ruled on, sadly.
Really? What about the Emoluments Clause? Would that be enough of a red flag that an action could be taken, in the interest of the people of the US? Then, let trump throw it to the corrupt SC, and see how quickly they act on it. Maybe THAT would get some attention.
Two things: Trump isn't currently President, and does the emoluments clause apply to candidates for the presidency? And, as became clear during his "administration," the emoluments clause doesn't seem to have very sharp teeth.
I like that; "administration"! We should always put it in quotes, so it's differentiated. First question is I don't know, but it should. From the moment you are deemed the party's candidate for the general election, divestiture should begin. I know Carter and Bush Jr. did. Second, for whatever reason, the DOJ never went after trump to enforce the clause. Maybe what we REALLY need is a DOJ with some balls!!
Unfortunately, divestiture is not the law, but a voluntary process undertaken by "normal", reasonably ethical officeholders.
That is unfortunate. But, it gives us another point of argument for law change once we take on overwhelming majority in the House and Senate this November! Maybe then, we can return to "normal" and "ethical".
His disregard of the Emoluments clause while being President has made Trump a candidate for one more indictment!
The problem with that is that it is not a "crime" as described by any criminal code. It should be an impeachable offense, but we've seen how that goes.
According to the current Supreme Court, violating much of the Constitution isn’t a crime unless Congress specifically passes a statute saying it is, further defining it, an enforcement mechanism, and a punishment.
So much for the Rule of Law and the highest law of the land. Other than the original articles defining the three branches of government, the rest of the Constitution and the Amendments are just suggestions.
There's always room for more!!
I think you are looking at this too much as a stock, when it is simply a donations basket to pass around to the Russians and Chinese to allow them to freely help Trump get into office and to make him a puppet when he is there. Those buyers won't care whether it is a good investment in the phony stock, they'll just be using it as a way to skirt the law and buy a president. Knowing Trump, he would never honor such a debt, but it could easily make him see these guys even more as his best buddies and wonderful people that he loves more than his country.
Exactly. It’s disguised support and the MAGAt dopes who buy into the stock won’t get their money out if they don’t sell now.
Thanks for the helpful information.
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As a veteran who lives on disability, which never keeps up with inflation, it both depresses and pisses me off that our legal system not only allowed this POS to escape accountability for his crimes but enables him in doing so from start to finish. There will always be those who can be and those who want to be duped and led around by the nose so that’s a given. But to watch him escape accountability and get rich doing so …. Argh!!
When you're flush, it's always on paper, but when you're broke it's always in cash. (Aristotle, attrib.)
The bright shiny new company, ticker DLJ, has more than the usual share of IPO bells and whistles. Tracking down all the SEC filings and putting pieces together is a massive headache, which you really can't do online. Sometimes the old ways are the best ways and I decided to pass on printing out the whole mess to review them the way I used to when I was a corporate finance and securities lawyer.
It does have a strong odor of side deals from the complexity. Trump is not astute enough to put a deal like this together. The smart money did as part of an elaborate pump and dump scheme to exploit the meme qualities of the stock. I use pump and dump as an analogy because I'm sure this was put together carefully enough to stay within the law.
The enterprise, from what I can tell, is not going to begin operations with much in the way of assets. Probably no capital assets, real estate, etc. Some plant and equipment consisting mostly of office furniture and equipment maybe. The big ticket item, impossible of valuation is some poorly defined intellectual property associated with the Trump brand. To date, there's been little revenue, no profit and as far as I can see no business plan. DJT is not something that a prudent investor would put in a long-term portfolio for its potential dividend payouts. Not would she buy it in anticipation that retained earnings will steadily grow the book value. DJT is a pure momentum stock that derives it's value from market sentiment—what traders at the margin think what other traders at the margin collectively think what the stock will trade at. Think Beanie Babies or musical chairs.
Consider, too, that Trump is a wasting asset—his life expectancy given age is about 10 years. Given appearances of general health possibly less. When he's gone, what's the business going to consist of? The Best of Truths? User data? So far as I can tell from news coverage no Trump children are being positioned to take his place as the star attraction. Then there is the uncertainty around his internet access should he fall under the custody of the Bureau of Prisons.
As Jay notes, even after the lockup period expires, no one can just flood the market and turn a quick buck because given the meme nature of the stock, most of the fan base are likely to be odd lot customers. And then, there's this consideration: the shares to become available aren't automatically ready to sell. It's not DLJ shares that are registered, per se, it is the act of selling, the transaction. What the promoters will have are registration rights, meaning that the sales can rely on the same registration statement. Just update the prospectus.
There's the soft spot. The prospectus will require disclosures from an organization whose major stakeholder has a very poor reputation for accuracy of financial reporting in general and zero recent experience in financial reporting for a publicly traded company. Sarbanes-Oxley will be a difficult concept to assess, also.
All in all, the realizable cash value on the future sale is uncertain.
As far as the potential purchasers of large lots in the future, we can look to Form 13G filings for some insight to the beneficial owners, although that won't be perfectly transparent.
Great in-depth analysis from someone that sounds like they know all the ins and outs from decades in that line of work.
I too was wondering about various SEC filing forms and issued prospectus. What could they divulge as to the identity of major shareholders? How difficult would it be to hide the Chinese and Saudi money, changing the names to protect the guilty? Multi-layered fund groups deep enough to hide the money origins?
If TFG needs to liquidate $600 million for court fines and bonds, some convenient benefactor out of the Middle East could easily buy the shares to be sold at no decrease in stock price.
The prospectus will probably make some disclosure of the legal entities involved in offering the previously restricted securities for sale. But my learning is getting rusty, and I could be wrong.
There is a fairly comprehensive set of filing requirements for investors who acquire more than a 5% share in the company and it drills through to the person or persons who ultimately control the voting and disposition of the shares. These are Form 13D for investors who purchase to control and a less detailed Form 13G for 5% purchasers who don't have plans to control.
Trump's interests in DJT are a controlling interest, so if he were to sell it all, he would lose control and for the person or persons buying the 5% pieces of the company there would need to be some degree of consideration of the choice between the two disclosures. If he did sell it all, an investor might wonder if he were going to continue to provide the oxygen to the furnace, because he's really the product.
Someone trying to give the guy some cash through buying the shares is not the cleanest way to do it. But, if it's a gift there's about a 40% tax hit, and that will buy a lot of jumping through hoops.
Thank you. I’ve come to the conclusion, like most if not all things Trump, big, small, main and blog stream media are making, much to Trump’s delight, a bigger deal out of this than can be legally, financially, logistically, and logically possible. The company has little to no income, runs big loses, is all branding and no merchandisable product, and to almost everyone’s delight will be a penny stock in twelve months. The only question will be who’s left holding the bag.