Donald Trump admits he’ll have to sell assets like Trump Tower in a “fire sale”
Now that Donald Trump has been turned down by every bond company possible, he’s being forced to admit in court filings that he’s unable to post bond in his New York civil fraud trial. Up to now Trump has publicly insisted that he’ll be able to cover the bond with no problem, even as he’s admitted otherwise in his filings. But now Trump is finally admitting on social media that his financial house of cards is going up in flames.
Trump is now whining that he’ll be “forced to mortgage or sell Great Assets, perhaps at Fire Sale prices.” He’s right. Trump can either quickly sell off his remaining assets for whatever price he can get, or he can sit back and do nothing and let Letitia James seize his assets and sell them off. Either way he loses.
With the deadline fast approaching, Donald Trump will quickly have to decide whether to start selling off assets in order to try to post bond, or whether to let his assets be seized. It’s even more difficult for Trump when you consider that he appears to be deeply in debt or upside down on most of his assets. When you’re upside down on an asset, there’s no profit to be made by selling it. Trump may well not be able to do anything about his collapsing financial situation, other than whine.
