How Embarrassing! Trump Might Be Too Broke for a $175 Million Bond, Too.
A New York appeals court on Monday reduced the $454 million that former President Donald Trump was required to put up while he appeals his civil fraud case. Now Trump must put up, by April 4, a mere $175 million. The trouble is, he may not get a bond for that amount, either. Should that happen, this act of judicial mercy will end up feeling to Trump like a curse.
The stay deprives Trump of the only argument on which he was gaining any traction at all—that the amount the court required him to put up was excessively high. Four hundred and fifty-four million was indeed an unusually large judgment against a private corporation or individual. (The distinction between Trump and the Trump Organization is paper-thin.) Monday’s appeals court decision doesn’t reduce that judgment, as New York State Attorney General Letitia James pointed out in a written statement. But it does dramatically reduce the amount Trump needs to turn over to the state while he pursues his appeal. It also gives us some hint that the appeals court may reduce Judge Arthur Engoron’s $454 million judgment to, well, $175 million.
Before the stay, Trump was quite literally comparing his financial situation to the crucifixion of Jesus Christ. In a posting early Monday morning on Truth Social, he quoted this message from a supporter: “It’s ironic that Christ walked through His greatest persecution the very week they are stealing your property from you.” My own (less blasphemous) view was that, yes, Trump was being singled out for harsh punishment by Judge Engoron, but that this was appropriate because Trump insists on making himself an exception to every rule. When finally matters escalate and Trump is called to account, he always whines that he’s being treated worse than others. It’s no more unusual to fine Trump $454 million than it is to send the FBI to collect documents that Trump refused to turn over to the National Archives. Such actions don’t occur in a vacuum. Trump makes them happen.
In a press conference after the stay, Trump continued to attack Engoron and James, but he had kind words for the appeals panel. “We were gratified by the professionalism of the opinion today,” Trump said. He also seemed to suggest that he might put up the $175 million in cash. “I have a lot of cash,” he said, and “I don’t need to borrow money.” But Trump hedged his bets in a post on Truth Social, saying, “We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash.”
https://newrepublic.com/article/180114/trump-175-million-bond-fraud-judgment
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