Donald Trump finally forced to admit he’s broke #TrumpIsBroke
Donald Trump now says in a court filing that he can’t come up with the bond money in his New York civil fraud verdict. Not a surprise. It was one thing to scrape together the Carroll bond. But the NY bond is five times that size, and thus five times more difficult. Trump is toast.
Once Trump just barely pulled together the smaller bond, there was this notion of “oh no he has a magic wand, he’ll just magic wand the larger bond too.” But back in the real world, a bond that’s five times as large is (at least) five times harder to pull off.
And really, there’s no worse time to try to get your hands on half a billion in cash than when you’ve just gone into debt for $91 million. Try getting a home loan after you just finished maxing out your credit cards. It makes you a particularly bad bet.
Is there still an outside chance that Trump will scrape together the larger bond? Sure. But look at his approach. With the Carroll bond he asked for 3 more days. He was onto a possible solution and wanted time to pursue it. In the New York verdict he’s just admitting he can’t pay it. Trump is broke, and that’s that.
