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5 comments
And then there's the more deceptive deficiencies . . .
It's interesting to wonder why they denied the bond. As reported elsewhere, to post a pond for $464 million, they wanted at last $500 million in assets as guarantee. Somehow Trump was not able to do that.
1. financial risk
Trump has assets at least nominally valued few billions, but his net worth is hazy. He has already taken loans for the properties, has other investors involved, and the real value may be much less than declared. If the valuations are messy, associates are shady, and accounting is not transparent, insurance companies are not going to touch it.
2. political risk
What if Trump wins the elections? Insurance companies going after revengeful Trump while he is in the office is huge risk.
1. financial risk
Trump has assets at least nominally valued few billions, but his net worth is hazy. He has already taken loans for the properties, has other investors involved, and the real value may be much less than declared. If the valuations are messy, associates are shady, and accounting is not transparent, insurance companies are not going to touch it.
2. political risk
What if Trump wins the elections? Insurance companies going after revengeful Trump while he is in the office is huge risk.
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Because he has no collateral. All his properties are already mortgaged to the hilt --- if not beyond.
In other words, despite his boasts to the contrary, he is not actually worth much --- and this is the proof.
His word is worth even less --- everything he says and does is built around lies and fraud.