This morning I posted a column explaining out how two brothers are facing sentencing for stuffing their pockets with more than $20 million in profits from insider trading deals linked to the merger of the two companies which together own Trump’s Truth Social website.
So, what happens a couple of hours after I posted my story? The Fake News is abuzz with a report that the bond that Trump posted to protect his assets during his appeal of the civil suit brought against him by the New York AG, has been rejected because of some problems with the company which put up the bond money on Trump’s behalf.
Perfect, simply perfect. Trump is so surrounded by scumbag scam artists that everything he’s touching these days smells of shit.
You see, one of the things that happens when you’re facing a trial, or better yet, facing trials for multiple felony counts, is that all of a sudden, a lot of people who used to be your friends stop picking up the phone when you give them a call. And this is particularly true when your friends are connected to business enterprises that really do value their reputation in the marketplace.
Now, by definition and experience, anyone who’s willing to do business with the Trump Organization isn’t walking around with the cleanest skirts since the skirt worn by Caesar’s wife. But if you happen to be in a regulated business like banking or insurance, then you have to follow the rules whether you like them or not.
And if it so happens that you run a company which engages in both banking and insurance, like the company that posted Trump’s bond, then even if you’re just a medium-sized scum-bag scam artist, sooner or later one of those government regulatory agencies will say hey(!) – what the fuck are those guys doing?
And it turns out that in this case, the company which posted Trump’s bond, an outfit called Knight Specialty Insurance Company, is owned by a guy, Don Hankey, who also owns an internet bank, Axos, which specializes in making car loans to what we politely refer to as ‘credit challenged’ individuals, which means people who are either too broke or too unemployed or too something else which results in a low or absent credit score.
This type of predatory lending, which is no different from those outfits which make what are called ‘cash advance’ loans, i.e., they get their hands on your paycheck before you do, always advertise as having low interest rates and fees, but all these advertisements are totally and completely full of shit.
You can’t survive in this wonderful country without a car, or I should amend that statement and say you can survive without a car by living in the old tunnel which runs under the New York Central railroad tracks on Manhattan’s West Side.
The guy who owns the outfit which financed Trump’s bond, happens to be a major GOP donor and has financed or refinanced various Trump properties over the years, but the bond application that was rejected today evidently contained a financial statement for the bonding company which may have been concocted in a way to hide the fact that this outfit doesn’t actually have the cash available to cover the bond in case Trump craps out.
As I recall, the major issue in Trump’s trial for financial fraud resulting in his needing a bond to cover the financial penalties assessed by that Communist Judge Arthur Engoron, was largely based on questionable financial statements submitted by Trump’s company to secure financing at favorable rates.
So, it figures that when Trump went out to secure a bond to protect the properties which he financed by faking his financial situation, he would turn to a company which may also fake its financial situation in order to make various deals.
What we evidently may be looking at here is a classic pyramid scheme with one financially insolvent company sitting on top of another financially insolvent company. Which means I have to revise the statement I made in this morning’s previous column when I said that Trump seems to attract scumbag scam artists the way that dogs are attracted to trees.
It’s not just Trump who’s full of shit – it may also be every other shitfaced scam artist who has made a deal with the author of The Art of the Deal.
There’s a great article today in the online magazine Inc, which goes into some interesting details about the 8-K form that Trump’s internet company filed this week with the SEC. If I get a chance, later today I may write it up for a posting this afternoon but suffice it to say that nobody has yet to explain the full scope of Trump’s scamming over the years since he announced his bid for the Presidency in 2015.
If Trump wins the election on November 5th, we have to put up with his bullshit for another four years. But if he loses, what are we going to do for kicks? Get all excited about Joe?
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