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Jeff Tiedrich's avatar

from CNN on this merger thing:

'The bad news for Trump is that this stake is not as liquid as it sounds. Those paper gains would be very difficult for Trump to translate to actual cash.

In fact, Trump’s shares in this company are in many ways even less liquid than his real estate holdings, according to Charles Whitehead, a law professor at Cornell Law School.

First, experts say the market is drastically overvaluing Trump Media based on the company’s fundamentals.

That means Trump would have a hard time dumping the stock or even pledging it as collateral.

“The stock price is clearly a bubble,” Yale law professor Jonathan Macey told CNN. “No rational investor would take the stock at face value, especially if they had to hold it for any length of time.”'

https://www.cnn.com/2024/03/22/business/trump-truth-social-dwac-shares?cid=ios_app

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Susan Niemann's avatar

Whew! Thanks for this. The very idea he could use this to save his sorry diapered ass pisses me off.

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Janine's avatar

Oh I needed this news!!

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Mark L's avatar

I wasnt as worried Susan, let him sell the stock for the Judgements, the stock will be on a downward spiral, and this might put a smile on your face, like everything he touched it turns to shit.

He is like a Big Ponzi Scheme.

Do you know why the stock got listed? The Original investors were going to pull the plug and get hammered with losses.

I will bet my last dollar, that they sell their shares, and get out, leaving a whole bunch of " investors" in their wake.

Happy Friday

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Susan Niemann's avatar

Thank you Mark! I hope you're right...and what you say makes sense. Happy Friday back at ya! 👍✌️

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RV maxima's avatar

The First Trump Fire Sale!

And it opened at -12$ from previous price point. Mark, you are so correct. And Trump is most certainly cycling the financial drain!

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Mark L's avatar

Serious?

I was so busy I didn't bother to check.

If those guys ( initial investors) didn't get this done, they would have been on the hook for hundreds of millions. Now they have a chance to recoup their initial investments. So so shady....

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Jayme Wolworth's avatar

Another way to get his foreign investors (Putin MBS and the like) to get cash to him. It's another grift. Truth Social pulled in a whopping $1.1 million in February and spent $25 million. Who on earth would merge with them except bad actors?

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DR JAGC's avatar

And that's the bigger concern. How can people possibly elect someone who is CLEARLY owned by bad foreign actors?

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Lynn Van Haren's avatar

Because they believe what comes out of Donnie’s mouth. They are impervious to facts

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RV maxima's avatar

Even as the tackle of reality on all sides comes in. I think when they are standing in2 ft of water and Donald says it is dry land the gig is up.

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MICHAEL OHALLORAN's avatar

BECUASE THEY CAN CCOTROL HIM LIKE THEY DID IN 2016.

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Lorraine Parish's avatar

That's what I'm thinking too. It would be a way to launder foreign money. Would the SEC be privy to any of this?

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Chet Brandt's avatar

Remember in 2015 trump’s Taj Mahal casino was fined $10 million by the U.S. government for laundering money for YEARS! It was the biggest fine ever imposed by the government on a casino— ever. Shortly afterwards the casino went belly up. So, this is NOT a new game by the grifter-in-chief…….

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Mark L's avatar

They have a tendency to, how shall I put this, go blind in certain circumstances.

Remember Madoff?

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Diana-Sedona's avatar

The upside is thinking about what the final outcome was for Madoff! 🤞🏻

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RV maxima's avatar

At least the official minder will know and so then, so will we about ANY funds paying his bond.

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MICHAEL OHALLORAN's avatar

HE VIOLATE ANY LAWS HE WANTS.

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Jodi Richard's avatar

And yet another hit of dopamine thanks to Jeff. Thank you Jeff!

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Openly Fae's avatar

Yeah the Truth Social thing is essentially pulling the same scam on himself; he's selling it for a bajillion dollars but those dollars are essentially on fire and by the time they reach his hands will be mostly ash. It would be like buying a 2024 vehicle and getting it home and the 2nd 2 falls off showing you actually bought a 2014.

Yeah, Don'll get some money from this but it won't be billions and may not be enough.

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Sharon C Storm's avatar

Plus, he has to wait 6 months to liquidate it, according to an article I read this morning. I don’t remember where I read it, but it was possibly on Joyce Vance’s Substack.

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RV maxima's avatar

Huh, a day late and $465M short, go figure.

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Openly Fae's avatar

Jay Kuo probably.

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Sharon C Storm's avatar

It could be, I subscribe to his too.

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Gail Knowles's avatar

I read Joyce’s Substack today and got really nervous. I hope he’s kept from doing it.

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Diana Hembree's avatar

That is correct

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Diana Hembree's avatar

..that he can't get any cash for six months at least

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Diana-Sedona's avatar

That’s hilarious about the 2nd 2. I could see some of the MAGAs falling for this!

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David Jones's avatar

It just gets more and more schadenfreudey.

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Janine's avatar

Does this mean Kim Jong Uns love letters are no longer up for sale? 🤣🤣🤣

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Sharon C Storm's avatar

🤣😂

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Susan Niemann's avatar

HAHAH!!

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Sharon Buchbinder, PhD's avatar

Thank you. I had a panic attack this morning about this!

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Susan Linehan's avatar

Actually, he apparently can't sell or pledge the stock for 6 months anyway unless he figures out a way to get around the "lock in" rules connected with this kind of merger. If he did get around them, can the SEC disapprove the merger at this late date?

There is actually very little to seize at trump tower. The condos are owned by those who bought them. He owns the service areas (restaurants, garage) and the Incredible Shrinking Condo of his own.

The Seven Springs property is encumbered by a deed restriction that trump agreed to in exchange for a 21 million tax break. It can't be developed. I haven't been able to find info on what its current value is with that restriction. In this, it is it is like Mar A Lago, which can ONLY be used as a club.

Trump argued in the trial that James was ignoring the value of the Trump Brand. But that of course is not worth much to a potential buyer. And trump would undoubtedly charge for the USE of the brand anyway. Of course, if James forecloses the brand won't be part of the sale package.

She is going to have to foreclose on a LOT of properties to get enough to cover the judgment. So would any surety taking property as collateral. Yet another reason they won't.

I love the bit about the judge applying a crazy interest rate. He applied the LEGAL post judgment interest rate:

https://law.justia.com/codes/new-york/2022/cvp/article-50/5004/#:~:text=(a)%20Interest%20shall%20be%20at,or%20accrued%20claim%20for%20judgments

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Sköll's avatar

The only Trump brand I would buy is if I can pay a cattle rustler to brand his stank butt.

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Susan Linehan's avatar

a gay friend of mine just visited a penthouse condo in Florida, at the insistence of his friend who owns a different condo in the building--she wanted him to see the view. He said the penthouse had a whole 'ROOM devoted to trump junk, and it was hard to keep from throwing up all over the expensive rug.

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Sköll's avatar

I am glad I got to see the St. Augustine fort and experienced a FL rainstorm. Ain't never going back there now that they have Trump shitweasels all over the place. I might reconsider if they turn blue in November.

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Joanne Beck's avatar

FASCIST FLORIDA

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Jen NH of OH's avatar

This is a great article from Barron's on why it would be a super dum thing to buy into this IPO. https://archive.is/mf4al

The best line - and love that Barron's lists it as number 1 reason to skip giving anything to this Clown Show - : "Or, as the prospectus puts it, “TMTG expects to incur operating losses for the foreseeable future.”".

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Koko in AZ's avatar

Thank-you!!! All I see are headlines about Trump getting $3BN in this merger. Plus, if he declares personal bankruptcy today, can't NY seize taxes out of it, as well as his debtors?

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Lorraine Parish's avatar

yes but he's not declaring bankruptcy, it's the last thing he'll do. well, if James was within hours of lowering the boom he would. i bet he's got all the paperwork ready.

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Rick Calegari's avatar

That's a hell of a big relief.

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Lorraine Parish's avatar

thank you. the news was making me ill until i read your post.

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Michael's avatar

Thank you Jeff. NY Times was just giddy about the potential “uuuuge” wealth increase for the orange moron (once in a lifetime increase). Your facts give perspective to that false narrative peddled by the Times.

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Catherine's avatar

Thank you for addressing this and easing the anger that he'd just float into the sunset on a pile of enormous cash for his crappy app-how the fuck is his failing crappy app worth that much? The evil scheme does seem like a brilliantly sinister-planned windfall.

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Abigail Norling's avatar

Yes, thank you Jeff!

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MICHAEL OHALLORAN's avatar

HIS WEALTH IS LIKE JUNK BONDS NOBODY WANTS THEM.

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Charlotte Thompson's avatar

How delicious that all three of the individuals mentioned in today's post are black. That alone should really burn his racist ass. As Jeff said, "tick tock." Somebody start popping that corn!

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Kerbo's avatar

African American.

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Lorraine Parish's avatar

BLACK and there's nothing wrong with it. lots of Blacks I know hate the African American thing, it's sooooooo PC and dumb.

Then I should technically be, Swiss/Indian/English/Jewish American

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arne link's avatar

We sometimes say "people of color". I like that because it's inclusive. Where I live we have people in every shade except Scottish white (and that is truly, truly white). It's a bit startling when I see those blue-white people. I know they aren't local.

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Sharon Senkiew's avatar

Exactly this-I knew someone from Dominica and she did not like being called African-American. She said her people did not come from Africa.

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Kerbo's avatar

All I can say is my African American friends feel that that is the referral they like. Not trying to be politically correct here, just saying what actual people close to me prefer.

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Sharon Senkiew's avatar

No worries🙂

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Openly Fae's avatar

Out of curiosity, how do you identify Black people in the UK where they are not American and with a strong chance of not being African either?

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Libbey Dem's avatar

They used to be referred to as Afro Americans until the Afro went out of style in the 80's. Now it's making a comeback. 😏

And you're only considered an African American if you, your parents or grandparents are from Africa, @Kerbo. Ancestry isn't factored in. If that was the case, we would all identify from where our ancestors immigrated from. That would make me an Italian - Irish - Scottish - German American. 🤷‍♀️

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Sharon Horton's avatar

Does that make Elon Musk African-American due to where he was born and raised and without considering his ancestry? Kind of a fun thought in some ways.

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RV maxima's avatar

White Afrikaner, if I am not mistaken what the Dutch and other settlers called themselves.

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Marie Drozdis's avatar

My American-born mother always referred to herself as Lithuanian. It used to be common to do that where I grew up.

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Sky 777's avatar

😵‍💫😳😂

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Marian Goldsmith's avatar

Yes for recent ancestry but it would be “African” for every member of the human race er oops I mean species which is where our ancestors came from.

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Charlotte Thompson's avatar

Thanks Donna. I'm English-Irish-Scottish-German. Personally, I've not heard African American in ages.

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Kerbo's avatar

In England my understanding is people of color are identified as Black British, Carribbean, or Colombian, or a mixture.

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Lisa's avatar

Black.

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Lynn Horsky's avatar

Black is Beautiful.

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Kristy Kanen's avatar

They are NOT all from African countries.

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Kerbo's avatar

I made that clear in my response .

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Doc Blase''s avatar

I was thinking the same thing, the irony is the a la mode on Donnie's cow pie.

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Charlotte Thompson's avatar

Good one Doc.

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Michelle Vancura's avatar

Yes! I was thinking the exact same thing! It must be killing this racist bastard to realize that it’s three black, smart, professional attorneys who are holding him accountable. 😁

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Charlotte Thompson's avatar

It's about time someone does Michelle.

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Seaforest's avatar

And two of them women. I love it.

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Charlotte Thompson's avatar

Yep, that makes it even better Mara.

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Openly Fae's avatar

Please tell me the chickens are coming home to fuck back.

Chicken Fucker 2: The Fuckening. Coming to a political party near you.

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247kath's avatar

I’m waiting for ‘Revenge of the Fucked Chickens’. Angry butt sore chickens are nasty🤣😂

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Openly Fae's avatar

Shhh don't give away the plot!

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Doc Blase''s avatar

These are big birds, too. I might OD on schadenfreude and require medication.

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Charlie Austin's avatar

🤣🤣🤣🤣

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Eileen's avatar

LMAO! Still LMAO!

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Libbey Dem's avatar

🤣 🤣 🤣

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Neal Stiffelman's avatar

Nice. Especially as the lower valuations submitted for tax purposes will permit seizure of more assets. And encumbrances will also enter into the calculus. None of this matters to the cult, nor to the wealthy grifters remaining in the GOP, but fuck them and keep the chuckles coming.

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Don'tBlameTheDog's avatar

Fewer of them every day.

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Doc Blase''s avatar

Out here in our state, the Assessor's value is the starting point when serving writs of collections. Don't know about NY, but chances are good that none of Orange Mussolini's figures are correct.

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RV maxima's avatar

Amen. Donie the broke " billionaire"!

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Fastball Fredo's avatar

Jeff, a great start for festival of Purim to all who celebrate. Personally I would enjoy a search of Bedminster, dig up Ivanas grave to see what other state secrets are buried. Let the games begin fellow travellers.

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Little Nell's avatar

What a difference a week makes! Fortune’s wheel seems to be grinding the Great Donaldo into the mud of the long road to Hell he’s been on ever since he was a tiny tot.

I like the idea of exhuming Ivana’s corpse so we can find the top secret government documents that were buried with her. A slice of pure American Gothic, long missing from this shit show. Watch: The casket doesn’t even contain her body, just tons of incriminating secret documents. He had some thugs from the Saudi embassy come down with their electric saws and cut her up into pieces, put her in hefty garbage bags and sink her in some piney woods bog in New Jersey, or the water trap off the 9th hole.

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Doc Blase''s avatar

There's really not that much room inside a coffin. I'd like to see what's beneath.

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Margaret's avatar

Hey Doc, she was cremated. Ashes don't take up much room. ;-)

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RV maxima's avatar

Lots,lots of pallbearers needed that were gurding their loins to lift that casket, just saying.

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Margaret's avatar

Yep. And ashes are not heavy, so what the hell was in that coffin?

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un poco loco's avatar

Yeah, that's where I was kind of hoping Ms James would start -- with any luck, she might actually get to dig up Ivana and end up with some of those documents Donny stole. Self-perpetuating schadenfreude!

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Susan Niemann's avatar

The fact that he has to reveal where is bond money is coming from is extra yummy. Is the Truth Social deal announced this morning too little too late? I’m scared to death he’ll weasel out of this. When the fat fuck says he has $500 million in cash that should be used against him I would think ! Still hoping for a massive coronary. ✌️

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Libbey Dem's avatar

That's what I was just telling my husband as I read Jeff's newsletter. I am not getting my hopes up for the property seizures because some idiot billionaire is going to eventually, at the last minute, loan him the money. I also don't think that it's wise to mock the pos on social since most of those billionaire own or are on social media and they MIGHT feel sorry for the poor con-man and rally behind him.

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Chet Brandt's avatar

If someone loans tfg the money and when LDFF loses his appeal the $$$$ goes bye bye anyway…….right?

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Janine's avatar

Omg me too Susan I felt like someone pushed me off of a mountain this morning reading about his windfall merger. What scares me is I feel these billionaires the SEC GOP SCOTUS DOJ know something very sinister that we dont

Such as they have a plan in full motion of the ultimate grift of all to grift the election to overturn it by way of all these people and organizations in his back pocket or I should say the many back pockets that trump is in.

And that it will be like smoke and mirrors w distraction and he will be on power before we have any notion of how it happened

Like slight of hand

I am filled with rage toward every lawmaker in government who have allowed and even encouraged it.

I'm so fuckin angry I hope he BLOWS UP

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Susan Niemann's avatar

Same! I wake up every day and hope I hear it on the news. He’s dead. There will be great rejoicing!

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Joanne Filipo's avatar

😂😂😂 me too!

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Darrell Smith's avatar

Communism in America? To be rightfully prosecuted for crime after crime is communism?

I think that what I have is worth a lot to me. I am not commiting fraud trying to get 50 times that for it. Trump pulled the worth zillions and not worth much crap for decades, not just recently. Trump Inc. has been a crime in progress since forever.

Trump's properties are worth a actual assessment minus what is owned on loans taken out on them. The loan institution would have the actual deed to the property.

The court should not allow Russian oligarchs to post the bond. Trump is guaranteed to try (and trying 24/7) any underhanded way to post the bond or get out of it.

Communism in America is what Trump and the Republicans promise. Trump as dictator, big business seized, all Social Security and military benefits stopped, millions of people "disappear", stores empty, unrest and killing in the streets.

I refuse to accept that.

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Mary Hall's avatar

Under Shitler we had over a million Americans disappear from his mishandling of Covid-19, people were killed in the streets by his flying monkeys (Kyle Shittenhouse), and the stores were empty -- remember trying to find TP? NFW can this monster get back in control. He needs to go to prison for the rest of his rancid life and learn something useful like how to clean a toilet.

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RV maxima's avatar

Trump, on his knees with a toilet brush, cleaning a toilet...in a prison cell with like 12 more in line to clean. Now THAT is a visual! Thanks for that.

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Don'tBlameTheDog's avatar

NY has a lot of experience dealing with the mob. The money has to be legit.

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Janine's avatar

💯

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Kay-El's avatar

This will be a hot, hot, hot summer. Not just the weather but two P01135809 trials. I have A/C and I make great lemonade.

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Sharon Horton's avatar

Lemonade and some nice cold revenge to snack on. Sounds tasty and refreshing to me!

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Kay-El's avatar

A perfect combination

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Mary Hall's avatar

I make excellent popcorn and seven-layer bars. It's a party!

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Kay-El's avatar

I’m coming to your house for those bars. I promise I’ll only eat two.

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Margaret's avatar

I'm on the way! Bringing Margaritas and home-grown salsa!

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Karla's avatar

OMG.. your wording is always hilariously spot on. Just to make things easy, house immigrants at the Westchester properties and homeless New Yorkers in Trump Tower. Also to make things easy, value all seized properties at what he valued them for tax purposes. It’s what the government has on record for property values and it’s also closer to accurate. By the way, I’m in NYS and want to know how the fuck I can choose the value of my property for tax purposes.

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arne link's avatar

That is something I don't understand. If you're asking a bank for a loan on real property, don't they do their own evaluation? They just accept what you tell them? Seems like a bad business practice.

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DonP's avatar

I live.

Have fun in court Bankrupt Donnie. Couldn't happen to nicer guy. Because a nicer guy wouldn't have FAFO like you did.

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bruce somers's avatar

MAGA,Morons Always Going Apeshit,the GOP was a dying party anyway, thankfully Trump is hastening it's demise. History will remember 3 symbols of hate over the last 150 years,the Confederate flag,the swastika and a red hat...

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Mary Hall's avatar

Right on about the symbols Bruce!

I was with my very psychic energy healer friend on election night 2016 and literally puked when I realized this malignant monster would be my US Coast Guard son's new CIC. I was overcome by a deep sense of dread that I've rarely experienced. My friend "checked in" with the energies and then told me that his election would actually help speed up the evolution of humanity. It would be short term bad but ultimately good. Goddess, I hope she is right.

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Monnina's avatar

Well, his mass mediated public behaviour does seem to be directing a high spectrum floodlight into some very dark social and political corners. Positively Luciferian 👺

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Mary Hall's avatar

"Get a brain Morans!" Instant classic.

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Charlie Austin's avatar

Shit is getting real for Emperor Shitstain. This reminds me of Butch Cassidy and the Sundance Kid when they had the posse on them. Sundance asks Butch: "Who are these guys?" They're the descendants of Bass Reaves and they won't stop until they take you down. Have a fun weekend, Shitgibbon!!😆😆😂😂

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S74's avatar

♬ GOOD, GOOD, GOOD VIBRATIONS!♬

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steve robertshaw's avatar

Great dream, Jeff ! Not quite as great as a wet dream, but after a certain age...... It's a long way to the end of business day on Monday's deadline for the bond. Fingers crossed and all that.

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Susan P Thatcher's avatar

It's seeming that the Loise Cannon is more incompetent than prejudiced (although it's a horse race). Word is that she gives all indication of not knowing what she's doing - and is NOT learning on the job.

Remember, she was a midnight judge: Trump appointed her on his way out the door.

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Burke's avatar

Trump World is Tulipmania. History repeats. His DJT stock price will eventually reflect the value of the company. Which is Zilch. Zero. Nada. Zip. Buyers will lose. Lenders who let Donald margin his shares know that the first risk factor of the Five Cs of Credit is: Character.

https://en.wikipedia.org/wiki/Tulip_mania#:~:text=Tulip%20mania%20(Dutch%3A%20tulpenmanie),dramatically%20collapsed%20in%20February%201637.

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RV maxima's avatar

Well, we all know how well Trump manages financial risk.

He doesn't.

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