Trump’s Financial Squeeze – The New York Times

Donald Trump has 10 days to post his $175 million bond in his New York civil fraud case. After that, he could face the full fine in the case: nearly half a billion dollars.

Could this situation affect his presidential campaign? Yes it can be. I'll explain how by answering four questions from This Morning staff in today's newsletter.

What are the basic details of this case?

New York Attorney General, Letitia James, sued Trump and the Trump Organization in 2022. They accused him of carrying out widespread fraud over a decade by inflating the values ​​of assets, sometimes by as much as $2 billion a year.

The net effect, James said, was essentially that Trump was able to obtain loans and insurance policies at more favorable rates than he would otherwise have been entitled to. A judge agreed, and ordered Trump to pay $454 million — which is equal to his total ill-gotten gains plus the interest he paid. Trump has insisted that because his lender was not harsh, there were no victims, and he considers the decision corrupt.

Yesterday, an appeals court said the state would accept a much smaller bond — $175 million — while it considers whether to uphold the judge's findings.

trump Tried, but failed, Post a $454 million bond before moving to the appeals court on Monday. Does it look like he'll get a shorter bond?

Trump told reporters in Manhattan on Monday that he would be able to repay the bond. There is no independent way of verifying that he has enough cash, and if he decides to seek an outside company to provide the bond, he will have to put up a large amount of cash as collateral to secure it. And other investments will be required, and in a short amount of time.

However, this amount is less than half what it was before, so it will almost certainly be easier now. And some legal experts see the appeals court's decision as evidence that the court will continue to support Justice Arthur F. May reduce the $454 million judgment awarded by Angoron.

Trump's legal problems are serious. However, so far, it does not appear that he has had any impact on the 2024 campaign. He has become a possible candidate after losing. Why might this case be any different?

The case goes to the center of his identity and public image in a way that criminal cases do not. The risk of having his bank accounts frozen or even one of his assets seized affects him psychologically and immediately. This is part of why he was so powerful that less need for bonds was a win.

Trump was in a different courtroom in New York yesterday, where a judge set the start date for April 15 in Trump's criminal trial on charges of falsifying business records to hide hush money payments during the 2016 election. However, even if he is convicted in that case, it is unlikely he will be sent to jail before Election Day. Moreover, the question of how he ran his business, according to James, is likely to become a political issue for President Biden's allies. For his part, Trump is portraying it as an exaggeration of his political opposition.

What should people watch now?

Based on what he said Monday, it will probably take several months for the appeals court to consider the fraud ruling and Trump's punishment. If they uphold the decision, Trump would have to hand over nearly half a billion dollars. If not, he would describe it as a condemnation of an overzealous judge and attorney general.

Trump's social media company, which runs Truth Social, completed a deal last week to become a publicly traded company, and it's an open question whether he will use that deal to acquire bonds from another company. Will try to use my share from.

For now, Trump's relief in the civil fraud case is temporary.

More on Trump

Breaking News

baltimore bridge collapse

Israel-Hamas war

Opinion

Dobbs The question of abortion in America has not been resolved; This led to other issues – such as the Supreme Court case on medication abortion, melissa murray And kate shaw Write

Biden and the United States must make long, healthy lives a national priority, Ashwin Vasan Argues.

Here is a column by Paul Krugman On Obamacare.

Plastic: Restaurants are full of fake flowers. Meet with someone who is responsible.

Ageing: To live beyond 100, eat less, says an Italian expert who thinks false fasting is the key to longevity.

Partiality: A Black couple who claimed their home's appraisal was biased because of their race won a settlement — and a change in company policy.

Health: Uncomfortably bloated after a flight? Here are some suggestions for relief.

Great read: Bill Ackman is a hedge-fund manager who became famous on Twitter. Now he has even more power.

Life lived: Lisa Lane was a two-time U.S. Women's Chess Champion and the first chess player to appear on the cover of Sports Illustrated. She protested against gender inequality in sports, despite many people focusing more on her looks than her ability. Lane died at the age of 90.

game

College basketball: Caitlin Clark and Iowa survived an upset against West Virginia to advance to the Sweet 16 with a 64–54 win.

MLB: Dodgers star Shohei Ohtani denied any knowledge of illegal gambling through his former interpreter. “I am extremely shocked,” Ohtani said at a news conference.

art and ideas

Not viral: The Last Dinner Party is trying to be famous the old-fashioned way. The band quickly built a following by touring and staging carefully planned dramatic live shows. He has ignored the temptation of seeking online fame.

Alex Marshall writes, “The group have become Britain's busiest new band.” They're playing a show in New York today.