Because he no longer can operate business and the loans were created under false pretense.
Businesses arent real keen on doing business with known frauds
Businesses arent real keen on doing business with known frauds
How would Putin do that when all of his assets are frozen by the West? And Putin doesn't need to do this anyway.
Cuz he's business poison. He's always been but now it's legally official. Imagine having open loans with this org.
I'm doubtful as long as the loans are current. I can see them freezing any new credit but I don't see a bank wanting to take back any CRE in the current environment. They will potentially downgrade the credit and or write off a portion of the loan but we will see.
I can see him refinancing out with private capital but it will most certainly be an interest rate he absolutely hates.
Agreed. Although, if multiple creditors see a client may be facing liquidity issues, none of them want to be the last to act.
That's disappointing. I wonder why he rolled that back.
If the bank has an office or conducts regular business in the state they should have a license. This will force him to go to private financing.
Lenders are shitting themselves right now trying to call in the loans. It's a feeding frenzy.
Ever hear the story Ivanka tells like this?
Said they were walking down the street when she was younger and he pointed to a homeless man and said that guy is $2B richer than I am.
I wonder how much Donald hated her telling that story. Gives you a lot of insight into what things are really like.
I definitely need someone who is more current on legalese, because reading the verbiage again it actually makes it sounds like its up to the independent curator they're going to put in place. I think it means that basically if they think the businesses are rotten to the core (no real legitimate business, or at least not enough of one), the curator of the business can just say "Yeah this needs to end" and the certificates get revoked?
Again, I'm unclear.
OP
OP
Yes it's that. The new independent Director of Compliance will oversee any restructuring and disposals.
Essentially the businesses are in such a huge financial mess that there is a 3-year slow controlled rundown rather than an immediate termination. They got the babysitters in instead of the receivers.
It is still unclear to me who is going to be running the business over the next few years since all the main directors are banned.
(We'll know more about that in 30 days.)
Thanks for the clarification, glad to know I haven't lost all of my ancient legalese comprehension.
Honestly that seems like the best option, because if they do spin it down over that time the few (or maybe even many) people who are just doing normal jobs for these companies can be given proper severance and such.
There are like 2 well known Trump buildings in the City (the one he stays at on 5th Avenue & the one on Central Park West) and both of them are basically ugly, nondescript obelisks with no redeeming qualities. They're also not tall or impressive enough to contribute to the skyline at all.
Yet more self aggrandizing from the Trumps.
Yet more self aggrandizing from the Trumps.
Never forget that the man used a 9/11 interview shortly after the tragedy to falsely claim that he now owned the tallest building in NYC 🙄
Neither of his buildings were in the top ten at the time.
But he was boasting the day after 9/11 that his building was now the tallest.
I heard this in DeNiro and Pesci's voice. Like out of a movie
Your username is clearly an anagram of A. Engoron. Something you want to tell us?
Any chance you could C&P the thread please? I'd be interested to read her thoughts as like the sole dissenting living Trump.
[very good news
I am wondering about this potential deal that could resupply his coffers
https://www.cbsnews.com/news/trump-media-dwac-sec-approval-spac/
I am wondering about this potential deal that could resupply his coffers
https://www.cbsnews.com/news/trump-media-dwac-sec-approval-spac/
That's all she posted on Twitter. As she mentions, she posted more on her newsletter.
https://marytrump.substack.com/p/judgment-insane-donald-must-pay
Thank you. She seems like a good sort, lotta respect for her!
The stock is hyper inflated and he's inflated the value of his personal stash twice as much. Not only would it pop and crater the moment he tried to sell out but any merger would block him from selling stock for 6 months at a minimum? Add in the company bleeding money and it's more of a liability
It's a meme stock, and Truth Social lost millions last year. Trump gaining billions from this is delusion right on par with Gamestop stock owners thinking that MOASS is around the corner.
Unfortunately, he can earn a lot from TS. This is a hot market at all-time highs, and he can pump it to his followers too, encouraging them to buy in before he quietly sells.
As noted though, it's not going to be very liquid.
As noted though, it's not going to be very liquid.
If the buyout goes through tho it's likely the stock will collapse before he can ever sell due to regulatory restrictions
Not only did it lose millions last year, it's total revenue was something like four million. I have literally run a company with higher revenue than that. All it has is the meme factor and I think it goes back to the fundraising problem: they've been bleeding the base dry already
He can't "quietly sell", as an insider the transactions are always public.
And the moment he sells the stocks will crater after the first one
As others have said, the assets Trump will have from TS won't be very liquid - but here's the kicker since he's banned from getting a loan from any bank operating in New York he's probably going to find it very difficult to find an institution that will lend him money using the stock as collateral.
I know. I mean the way Bezos and Musk sell bit by bit. Also pre-arranged trading plans to mask dumping. Besides, you think his followers will ever see or believe those public SEC filings? He'll just post on TS that the fake news media is lying.
Like who is going to be out there willingly going "yeah I'll buy this wildly inflated meme stock from Trump, even though this stock only has negative value, I love purposely holding the bag and making Trump rich at the personal costs of millions to myself."
If people want to donate millions or billions to Trump, there are already ways to do that without so many extra steps or waiting for the merger to complete and Trump's stock selling restrictions to lift.
If people want to donate millions or billions to Trump, there are already ways to do that without so many extra steps or waiting for the merger to complete and Trump's stock selling restrictions to lift.
Trump convincing people to buy valueless things is his superpower.
Yeah but there has to be a really dumb aesthetic thing paired with it, like a gold plated debit card that does nothing or a trading card with Trump's head photoshopped onto King Kong or something.
Does that also mean he can't refinance any loans taken in recent years at high interest rates?
Btw, he'll have no trouble tapping private equity, or Saudi, with his TS shares as collateral.
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I suppose that's true, but man… private equity is gross, and if this business venture goes south the way so many of his others have, I'd highly recommend Trump never make any trips to the Saudi consulate in Istanbul.
I guess a Russian oligarch or Saudi prince could launder him money by buying inflated assets
I think the Russian oligarch one has already happened
I think the Russian oligarch one has already happened