What does a TRUMP presidency look like?

[viper37]

355 millions.  Details matters. It's the 5M$ that pushes it over the top.


Also, an interdiction to manage any company for 3 years in the State of New York.

This one might be the toughest pill to swallow.  He'd have to move what is left of his business to Florida and it takes time. 

The financial penalties, combines with this interdiction kinda make it tough for him to run a presidential campaign since he has to deposit all of the funds if he goes for an appeal.  Financially, he was near broke, last I've heard.

[The Minsky Moment]

So apparently Trump has just been fined a little more than $350 million in NY.

Thoughts on the consequences?

$87,534.25 of interest every day until paid.

[Jacob]

That's a non-trivial amount of interest.

Are there any obvious dodges here? I've been led to believe there isn't.

So I guess that leaves Trump with these main options:

1) Pay with some combination of personal funds, political funds, and sucker-raised funds.

2) Ignore it until he wins the presidency, and then bring some amount of political influence to bear to make it go away somehow (or have someone pay it off without him having to worry about it). The risk here, of course, is that he doesn't win.

[Barrister]

That's a non-trivial amount of interest.

Are there any obvious dodges here? I've been led to believe there isn't.

So I guess that leaves Trump with these main options:

1) Pay with some combination of personal funds, political funds, and sucker-raised funds.

2) Ignore it until he wins the presidency, and then bring some amount of political influence to bear to make it go away somehow (or have someone pay it off without him having to worry about it). The risk here, of course, is that he doesn't win.

3. Fight on collections.  Transfer assets.  Claim the Trump Org has no money.

I can't imagine collections being easy against Trump.

[Caliga]

SO UNFAIR! 

[HVC]

Does interest still accrue on appeal?

[The Minsky Moment]

3. Fight on collections.  Transfer assets.  Claim the Trump Org has no money.

I can't imagine collections being easy against Trump.

AG moves for order of seizure on Trump Tower, puts it up for auction.
Rinse and repeat for the other properties as needed.    They can also seize Seven Springs in Bedford and the Westchester course. If needed they can domesticate the judgment in Palm Beach and go after mar-a-lago. 

Collections are tough when you are dealing with someone without fixed assets that keeps most of their assets in movable instruments and crypto.  That is not Trump.

[The Minsky Moment]

Does interest still accrue on appeal?

Yes.

[Jacob]

I would love to see Trump Tower up for auction.

What's a realistic timeline for something like that to happen?

[The Minsky Moment]

§ 5230. Executions. At any time before a judgment or order is satisfied or
  vacated, an execution may be issued from the supreme court, county court
  or a family court, in  the  county  in  which  the  judgment  was  first
  docketed,  by  the  clerk  of the court or the attorney for the judgment
  creditor as officer of the  court,  to  the  sheriffs  of  one  or  more
  counties of the state, directing each of them to satisfy the judgment or
  order  out  of  the real and personal property of the judgment debtor or
  obligor and the debts due to him or her.

 §  5236.  Sale  of  real  property.   . . . the interest of the
  judgment debtor in real property which has been  levied  upon  under  an
  execution  delivered  to the sheriff or which was subject to the lien of
  the judgment at the time of such delivery shall be sold by  the  sheriff
  pursuant  to  the  execution  at  public  auction . . .  the  sheriff  making 
    a  sale of real property pursuant to an   execution shall, unless the court otherwise directs,
    1.  distribute  the  proceeds  to  the  judgment  creditors  who  have
  delivered  executions  against the judgment debtor to the sheriff before
  the sale, which executions have not been returned, in the order in which
  their judgments have priority, and
    2. pay over any excess to the judgment debtor.

[The Minsky Moment]

I would love to see Trump Tower up for auction.

What's a realistic timeline for something like that to happen?

You have to get an execution from the court, which is usually routine, then publish a notice of sale at least 56 days in advance of the sale.

None of this happens until a formal judgment is entered, which hasn't happened yet.

[crazy canuck]

That's a non-trivial amount of interest.

Are there any obvious dodges here? I've been led to believe there isn't.

So I guess that leaves Trump with these main options:

1) Pay with some combination of personal funds, political funds, and sucker-raised funds.

2) Ignore it until he wins the presidency, and then bring some amount of political influence to bear to make it go away somehow (or have someone pay it off without him having to worry about it). The risk here, of course, is that he doesn't win.

3. Fight on collections.  Transfer assets.  Claim the Trump Org has no money.

I can't imagine collections being easy against Trump.

I imagine the United States has something similar to our laws against fraudulent conveyance, in order to avoid a debt or order of the court to deal with the issue of transferring the assets.

Edit: oops JR already answered that

[The Minsky Moment]

I imagine the United States has something similar to our laws against fraudulent conveyance, in order to avoid a debt or order of the court to deal with the issue of transferring the assets.

Yes that too
NY recently modernized their avoidable transfer law (which is what they call fraudulent conveyance now)

[HVC]

They should go after mar a lago first. Really salt the wound.

[HVC]

And to think, this all started as PR stunt for the apprentice. Quite a unpredictable outcome to that first dominoe fall