366
Judgment in Trump civil fraud case officially entered at $464 million
(www.nbcnews.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 23 Feb 2024
366 points (97.9% liked)
politics
18082 readers
3082 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect!
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 1 year ago
MODERATORS
So how does this end?
Like.. what happens when he fails to pay? Does he get arrested?
No, as we do not have "debtor's prison" in the United States....at least not officially. There are certainly ways the system works around that.
However, in this case the state will file a lien against all of his properties, and then begin the legal process of recouping the funds from the judgement if he defaults.
We don't have debtors prison for the wealthy, but we do for the poor
That's what I meant by the "not officially" and "the system works around that" parts 🙃
Trump is about to be poor
He’s about to need to sell off a large percentage of his holdings, but he won’t be poor by any stretch. He’ll still likely be a billionaire, with a B. Even low estimates put his worth at somewhere around $2B.
And losing a quarter of that to a legal decision is a huge hit, but he’ll still have $1.5B in worth afterwards. Even if he did nothing with it and just let it accrue interest, he and his entire family would still be set for life. I hate the man, but this isn’t going to be what ruins him. This is one slice of a very large pie. I’d be happy to be proven wrong.
it’s unlikely he’s even a billionaire now, as that valuation is entirely based off of what now is revealed to be entirely bullshit estimations pulled directly out of his ass of his worth. the fact that he cant’ even come up with a fraction of that in cash (he could barely come up with $5M for the first E. Jean Carroll judgement and is struggling to produce the $84M for the second) speaks volumes to that.
And, while he s certainly going to have to liquidate a great deal of his holdings to produce that cash necessary to pay for these judgements, it may turn out that:
the fact is: nobody knows how much Trump is truthfully worth but Trump. even he may not know, however, we are all about to find out, at long last.