jerrymahoney Posted April 19 Share Posted April 19 (edited) 25 minutes ago, Roo Island said: Not a huge fan of Salon, but an interesting read. https://www.salon.com/2024/04/16/absurd-experts-say-still-playing-games-with-fraud-bond--and-it-could-blow-up-in-his-face/ The insurer — based in California and registered in Delaware — does not have a license to issue bonds in New York or have the necessary certificate of qualification from the state Department of Financial Services, which Germain notes are required by New York insurance law. "The AG has valid reasons for questioning the validity of a bond posted by an out-of-state insurer without a certificate from the Insurance department, and having inadequate capitalization to cover the bond," he added. "I am also somewhat doubtful that a reinsurance policy would so clearly cover a default on a surety bond." AS noted in the Salon article: “The DJT Trust granted KSIC a security interest in a Schwab brokerage account, in which the DJT Trust is obligated to maintain no less than $175 million in cash or cash equivalents at all times,” read an affirmation filed in support of the bond by Gregory Serio, a former superintendent of insurance for New York state. “KSIC also has a standing agreement with its parent company, Knight Insurance Company, Ltd. (‘KIC’), by which KIC reinsures 100% of KSIC’s risk,” added Serio, who is a partner of government consulting firm Park Strategies. “The $175 million bond at issue is adequately secured.” And from that affirmation by the former NY State Superintendent of Insurance: 38. Based upon the foregoing, it is my professional opinion that the surety on the undertaking filed by KSIC on April 1,2024, as amended on April 4, 2024, is sufficient and that there is no basis for the exception filed on April 4, 2024. -- But it seems AG James will have to object today EDT to respond to Judge Engoron's request for the 22 April ruling to show cause why the bond should not be accepted. Edited April 19 by jerrymahoney 1 1 Link to comment Share on other sites More sharing options...
bamnutsak Posted April 19 Share Posted April 19 Trump's $175 million bond questioned by New York AG, hearing scheduled NEW YORK, April 4 (Reuters) - A New York judge will hold a hearing on April 22 over the $175 million bond Donald Trump posted as he appeals a $454 million fraud judgment against him, the state attorney general's office said on Thursday, after asking for more details about the bond. The move does not necessarily imperil Trump's bond but will likely require California-based Knight to show that it can cover the bond. https://www.reuters.com/world/us/hearing-over-trumps-175-million-bond-ny-civil-fraud-case-set-april-22-2024-04-04/ 1 Link to comment Share on other sites More sharing options...
jerrymahoney Posted April 19 Share Posted April 19 That Reuters report dated April 4 -- the Judge has a 'show cause' to AG James order on that 22 April hearing as of 16 April. 1 Link to comment Share on other sites More sharing options...
Roo Island Posted April 19 Share Posted April 19 18 minutes ago, bamnutsak said: Trump's $175 million bond questioned by New York AG, hearing scheduled NEW YORK, April 4 (Reuters) - A New York judge will hold a hearing on April 22 over the $175 million bond Donald Trump posted as he appeals a $454 million fraud judgment against him, the state attorney general's office said on Thursday, after asking for more details about the bond. The move does not necessarily imperil Trump's bond but will likely require California-based Knight to show that it can cover the bond. https://www.reuters.com/world/us/hearing-over-trumps-175-million-bond-ny-civil-fraud-case-set-april-22-2024-04-04/ Makes sense considering that they aren't even licensed to do business in NY. Hard to believe what Knight says considering the owners support for Trump. Link to comment Share on other sites More sharing options...
jerrymahoney Posted April 19 Share Posted April 19 Just now, Roo Island said: Makes sense considering that they aren't even licensed to do business in NY. Hard to believe what Knight says considering the owners support for Trump. Again that Reuters report dated 4 April. 1 Link to comment Share on other sites More sharing options...
Eric Loh Posted April 19 Share Posted April 19 1 hour ago, Roo Island said: Not a huge fan of Salon, but an interesting read. https://www.salon.com/2024/04/16/absurd-experts-say-still-playing-games-with-fraud-bond--and-it-could-blow-up-in-his-face/ The insurer — based in California and registered in Delaware — does not have a license to issue bonds in New York or have the necessary certificate of qualification from the state Department of Financial Services, which Germain notes are required by New York insurance law. "The AG has valid reasons for questioning the validity of a bond posted by an out-of-state insurer without a certificate from the Insurance department, and having inadequate capitalization to cover the bond," he added. "I am also somewhat doubtful that a reinsurance policy would so clearly cover a default on a surety bond." AG has the rights to be concerned whether Knights have adequate capitalization to cover the bond. The risk of Trump defaulting and stiffing on payments are well documented. He has an adverse track record of delinquent debt. 1 1 Link to comment Share on other sites More sharing options...
bamnutsak Posted April 19 Share Posted April 19 10 minutes ago, jerrymahoney said: Again that Reuters report dated 4 April. And the hearing is still scheduled for Monday, April 22, 2024 at 10:00 AM. 1 Link to comment Share on other sites More sharing options...
jerrymahoney Posted April 19 Share Posted April 19 2 minutes ago, Eric Loh said: AG has the rights to be concerned whether Knights have adequate capitalization to cover the bond. The risk of Trump defaulting and stiffing on payments are well documented. He has an adverse track record of delinquent debt. Again, the 22 April hearing before Judge Engoron is for the AG to show cause why the bond should not be accepted, not for Knight /Trump to have to show why it should. 2 Link to comment Share on other sites More sharing options...
Danderman123 Posted April 19 Share Posted April 19 2 hours ago, jerrymahoney said: Again, the 22 April hearing before Judge Engoron is for the AG to show cause why the bond should not be accepted, not for Knight /Trump to have to show why it should. Same same. Anyway, the facts will come out on the 22nd, regardless of who has to prove what. 1 Link to comment Share on other sites More sharing options...
jerrymahoney Posted April 19 Share Posted April 19 (edited) 5 minutes ago, Danderman123 said: Same same. Anyway, the facts will come out on the 22nd, regardless of who has to prove what. Not same same. The Judge has stipulated that Knight/Trump has sufficiently proved that the bond is authorized and acceptable in NY State and is sufficiently capitalized. It is up to the AG to prove otherwise. Edited April 19 by jerrymahoney Link to comment Share on other sites More sharing options...
G_Money Posted April 19 Share Posted April 19 6 hours ago, LosLobo said: 'All legal'. Trump LLC was found guilty of tax fraud are you suggesting Trump's personal taxes would be any different? Jury Finds Trump Organization Guilty of Tax Fraud Scheme – NBC New York NBC? About as credible to me as Fox is to Roo Island. I suggested nothing. You the one trying to put words into my mouth. Trumps personal return was not on trial. You know this. He used every legal loophole available just as other high income/ business oriented people do. And two those years Roo Island posted were under Obamas administration, go figure. Same as the commoners do through standard deductions, mortgage interest and whatever else one is entitled to take to reduce their taxes, legally. Let’s not forget that during his four years he forfeited his $450k Presidential salary. While not a tax it was $450k that the government got to keep. What other President in recent times has done this? None. I am much more interested in the tax returns of the Swamps politicians who have become multi millionaires during their tenure while earning civil servants pay than Trump’s personal returns who went into government service after acquiring his wealth. 1 2 Link to comment Share on other sites More sharing options...
G_Money Posted April 19 Share Posted April 19 6 hours ago, Roo Island said: Please show a credible link proving that the liberal media lies. We know Faux News does. It's the reason they recently paid 787 million and fired Tucker. No hate here, but a lot coming from you. Please show credible link proving the links I’ve posted on numerous subjects from Fox over the past several months are false. Are you saying the people killed by illegal aliens weren’t really killed? Just a figment of the police and the families imagine? Just one example. I suggest not waiting until November to book your appointment with the shrink when Trump wins. Book today. You need it. Hows Don Lemon doing nowadays? Have not seen him on CNN for awhile. 1 Link to comment Share on other sites More sharing options...
Roo Island Posted April 19 Share Posted April 19 1 hour ago, G_Money said: Please show credible link proving the links I’ve posted on numerous subjects from Fox over the past several months are false. Are you saying the people killed by illegal aliens weren’t really killed? Just a figment of the police and the families imagine? Just one example. I suggest not waiting until November to book your appointment with the shrink when Trump wins. Book today. You need it. Hows Don Lemon doing nowadays? Have not seen him on CNN for awhile. I don't read faux News. Much better sources for your news. Who's Don Lemon? 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted April 19 Share Posted April 19 12 hours ago, Roo Island said: https://www.budget.senate.gov/chairman/newsroom/press/republicans-irs-cuts-to-add-24-billion-to-the-deficit-finds-cbo- Republicans’ IRS cuts to add $24 billion to the deficit, finds CBO Except that cutting funding for the IRS is not "tax cuts for billionaires", and if it were, because it happened in 2024 would be Biden's tax cuts for billionaires. Try again... 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted April 19 Share Posted April 19 12 hours ago, Roo Island said: https://www.cnbc.com/2022/12/21/trump-income-tax-returns-detailed-in-new-report-.html The report reveals that Trump on his federal tax returns declared negative income in 2015, 2016, 2017 and 2020, and that he paid a total of $1,500 in income taxes for the years 2016 and 2017. On their 2020 income tax returns, Trump and his wife Melania paid no federal income taxes and claimed a refund of $5.47 million, according to the report by the staff of the Joint Committee on Taxation. And you guys all claim he's stupid. Meanwhile, Hunter is in court for tax evasion, while Pops in pounding his chest and demanding the (non-Biden) rich pay their fair share! How 'bout them cannibals eating his uncle? 2 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted April 19 Share Posted April 19 9 hours ago, Roo Island said: And it's not just that they lie, they leave a lot out. Like most things negative towards Trump. Don't want to piss off the cult members like they did when calling Arizona for Biden. As you know, they don't like the truth, just friendly alternative facts. Like the Hunter laptop story...wait... 2 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted April 19 Share Posted April 19 7 hours ago, Eric Loh said: AG has the rights to be concerned whether Knights have adequate capitalization to cover the bond. The risk of Trump defaulting and stiffing on payments are well documented. He has an adverse track record of delinquent debt. A bond is typically demanded to insure the defendant not flee. Is that really a concern with Trump? 1 1 1 Link to comment Share on other sites More sharing options...
scottiejohn Posted April 19 Share Posted April 19 9 minutes ago, Yellowtail said: A bond is typically demanded to insure the defendant not flee. Is that really a concern with Trump? YES! 1 Link to comment Share on other sites More sharing options...
Roo Island Posted April 19 Share Posted April 19 1 hour ago, Yellowtail said: Except that cutting funding for the IRS is not "tax cuts for billionaires", and if it were, because it happened in 2024 would be Biden's tax cuts for billionaires. Try again... Everything the Republicans do is driven by Trump. Stunning that you are not aware of this. 1 Link to comment Share on other sites More sharing options...
jerrymahoney Posted April 19 Share Posted April 19 Letitia James Asks Justice Engoron to Make a Huge Decision Published Apr 19, 2024 at 6:18 PM EDT New York Attorney General Letitia James is urging New York State Supreme Court Justice Arthur Engoron to void the $175 million bond that the ex-president posted to appeal his New York civil lawsuit. James filed her response on Friday, writing that KSIC was "not regulated by the state's insurance department" and "had never before written a surety bond in New York or in the prior two years in any other jurisdiction." Lawyers representing Trump and James' office are expected to meet in court on Monday for a hearing on the bond. https://www.newsweek.com/letitia-james-asks-justice-engoron-decision-void-bond-1892423 1 Link to comment Share on other sites More sharing options...
Roo Island Posted April 20 Share Posted April 20 13 minutes ago, jerrymahoney said: Letitia James Asks Justice Engoron to Make a Huge Decision Published Apr 19, 2024 at 6:18 PM EDT New York Attorney General Letitia James is urging New York State Supreme Court Justice Arthur Engoron to void the $175 million bond that the ex-president posted to appeal his New York civil lawsuit. James filed her response on Friday, writing that KSIC was "not regulated by the state's insurance department" and "had never before written a surety bond in New York or in the prior two years in any other jurisdiction." Lawyers representing Trump and James' office are expected to meet in court on Monday for a hearing on the bond. https://www.newsweek.com/letitia-james-asks-justice-engoron-decision-void-bond-1892423 Makes sense. Not licensed in NY and hasn't done any bonds in the past few years. Next! Link to comment Share on other sites More sharing options...
Danderman123 Posted April 20 Share Posted April 20 (edited) 23 minutes ago, jerrymahoney said: Letitia James Asks Justice Engoron to Make a Huge Decision Published Apr 19, 2024 at 6:18 PM EDT New York Attorney General Letitia James is urging New York State Supreme Court Justice Arthur Engoron to void the $175 million bond that the ex-president posted to appeal his New York civil lawsuit. James filed her response on Friday, writing that KSIC was "not regulated by the state's insurance department" and "had never before written a surety bond in New York or in the prior two years in any other jurisdiction." Lawyers representing Trump and James' office are expected to meet in court on Monday for a hearing on the bond. https://www.newsweek.com/letitia-james-asks-justice-engoron-decision-void-bond-1892423 My feeling is that as long as there is $175 million in liquid assets available to the State as collateral, the bond will be approved. I think the AG wants to see proof that the money is there. Edited April 20 by Danderman123 Link to comment Share on other sites More sharing options...
jerrymahoney Posted April 20 Share Posted April 20 6 minutes ago, Roo Island said: Makes sense. Not licensed in NY and hasn't done any bonds in the past few years. Next! The mechanics of the issue based on Judge's (previously posted) 16 April order is that the Judge has basically approved the bond and AG James has to 'show cause' why it should not be accepted. Maybe Judge Engoron will change his mind Monday; maybe not. Link to comment Share on other sites More sharing options...
Roo Island Posted April 20 Share Posted April 20 Just now, jerrymahoney said: The mechanics of the issue based on Judge's (previously posted) 16 April order is that the Judge has basically approved the bond and AG James has to 'show cause' why it should not be accepted. Maybe Judge Engoron will change his mind Monday; maybe not. If they aren't licensed, and just using liquid assets Trump already has at Schwab, why should it be allowed? Link to comment Share on other sites More sharing options...
Harsh Jones Posted April 20 Share Posted April 20 A man lit himself on fire in front of the court holding Trump's trial. 1 Link to comment Share on other sites More sharing options...
jerrymahoney Posted April 20 Share Posted April 20 (edited) 20 minutes ago, Roo Island said: If they aren't licensed, and just using liquid assets Trump already has at Schwab, why should it be allowed? Once again, the Judge, for now, has stipulated that the bond is sufficient. The hearing Monday is for AG James & team to "show cause" and convince Judge Engoron that it isn't. Edited April 20 by jerrymahoney 1 Link to comment Share on other sites More sharing options...
Tug Posted April 20 Share Posted April 20 5 minutes ago, Harsh Jones said: A man lit himself on fire in front of the court holding Trump's trial. That’s pretty harsh….jones 2 Link to comment Share on other sites More sharing options...
Roo Island Posted April 20 Share Posted April 20 32 minutes ago, Harsh Jones said: A man lit himself on fire in front of the court holding Trump's trial. Recently released from a mental hospital and hard core into conspiracy theories. Shows how bad it is for some to have access to sites that spew this nonsense. 2 Link to comment Share on other sites More sharing options...
G_Money Posted April 20 Share Posted April 20 (edited) 5 hours ago, Roo Island said: Recently released from a mental hospital and hard core into conspiracy theories. Shows how bad it is for some to have access to sites that spew this nonsense. A registered Democrat who has TDS. Let this be a warning for some of you with this condition. It’s going to get worse as we move closer to November. Thst being said it was a little warm but “mostly peaceful “. I wonder if he was a BM. https://www.foxnews.com/us/florida-man-set-himself-fire-near-nyc-courthouse-holding-trump-trial Edited April 20 by G_Money 1 1 Link to comment Share on other sites More sharing options...
Roo Island Posted April 20 Share Posted April 20 17 minutes ago, G_Money said: A registered Democrat who has TDS. Let this be a warning for some of you with this condition. It’s going to get worse as we move closer to November. Thst being said it was a little warm but “mostly peaceful “. I wonder if he was a BM. https://www.foxnews.com/us/florida-man-set-himself-fire-near-nyc-courthouse-holding-trump-trial BM? Seriously? Definitely drank the kool-aid. As many of us here have been saying. Fox News isn't a reliable media outlet. Put up other links and I'll read. Link to comment Share on other sites More sharing options...
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