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Edward Mass posted:It’s worse than that, because the whole point of this merger is for Trump to cash out when the stock price hits the number. People are being told this is insider trading before they can invest! It’s a political donation without the dignity, how many people would sign up for that? The funniest outcome would be that the SEC freezes the whole thing for price manipulation and/or false accounting before he can sell the stock.
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Mar 24, 2024 14:17
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Powerful Two-Hander posted:The funniest outcome would be that the SEC freezes the whole thing for price manipulation and/or false accounting before he can sell the stock. The price was PERFECT! Many are saying they've never seen such a beautiful price!
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Mar 24, 2024 15:09
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Powerful Two-Hander posted:The funniest outcome would be that the SEC freezes the whole thing for price manipulation and/or false accounting before he can sell the stock. It was already held up for a few years. This whole thing started in 2021. They were investigated by the SEC and had to pay a fine!
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Mar 24, 2024 15:41
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Powerful Two-Hander posted:The funniest outcome would be that the SEC freezes the whole thing for price manipulation and/or false accounting before he can sell the stock. Tell me, if you were a hostile foreign national government how would you bribe Trump so that it looks legal? https://en.wikipedia.org/wiki/Digital_World_Acquisition_Corp quote:DWAC was created with the help of ARC Capital, a Shanghai-based firm specializing in listing Chinese companies on American stock markets that has been a target of U.S. Securities and Exchange Commission (SEC) investigations for misrepresenting shell corporations.[3][4][5] Some investors were surprised to learn that their investment money was being used to finance a Trump company.[6] In 2021, the DWAC Trump venture was linked with another company, China Yunhong Holdings, based in Wuhan, Hubei,[7][8] until its lead banker who was running the merger promised to sever ties with China in December 2021, stating that Yunhong was to "dissolve and liquidate".[9][10] In February 2022, Reuters reported that the connection between Shanghai-based ARC Capital and Digital World was more extensive than thought, with ARC having offered money to get the SPAC off the ground.[10] Funnier would be FBI arrests the whole lot of them for espionage.
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Mar 24, 2024 15:59
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So what does property seizure actually look like on this scale? Are they just going to put a chain on the doors to the golf clubhouse? Does everybody in 40 Wall Street have to stand outside on the sidewalk?
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Mar 24, 2024 16:24
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Hard to say. This is unprecedented in scale and scope. The name to watch, though, is Barbara Jones. Come tomorrow, the Org has to open their books to her. Not that they will comply 100%, at least, not immediately - but I suspect we're in for some major revelations. While it'll cut into the LOLfest/testicle launches, I wouldn't be surprised if there are no performative chainings/repossessions next week. It's going to happen no matter what, eventually; why inflame the morons if you don't have to?
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Mar 24, 2024 16:29
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I imagine that a normal property seizure by the courts is an attorney showing up with a massive pile of boring yet absolutely terrifying and miserable paperwork. Maybe cops showing up as well to put some locks on the door and make sure nothing's stolen before it can be sorted through. Trump and his ilk will absolutely make everything a stupid drama fest.
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Mar 24, 2024 16:35
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When federal agents showed up to seize documents from trump’s office in the 80s, it was either for the casino or the civil rights lawsuit iirc, trump told the press that the agents had burst in waving guns when they had called to schedule an appointment days beforehand. This asset forfeiture process is going to be amazing.
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Mar 24, 2024 16:44
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Alkydere posted:I imagine that a normal property seizure by the courts is an attorney showing up with a massive pile of boring yet absolutely terrifying and miserable paperwork. Maybe cops showing up as well to put some locks on the door and make sure nothing's stolen before it can be sorted through. I would pay to see DJT, Ivanka, Don Jr and Eric chain themselves to the front doors as if they were trying to save a 500 year old oak.
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Mar 24, 2024 16:46
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The buildings magically disappear and Trump's face turns red and he poops his pants is what the cartoon version in my brain says happens. I hope I won't be disappointed.
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Mar 24, 2024 16:46
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mdemone posted:So what does property seizure actually look like on this scale? Are they just going to put a chain on the doors to the golf clubhouse? Does everybody in 40 Wall Street have to stand outside on the sidewalk? I would expect that if the properties have current tenants, the government wants to minimize disruption to them to maximize sale price of the asset. I think what happens is just a whole bunch of lawyers contact the tenants and tell them to switch the accounts they pay rent to.
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Mar 24, 2024 17:07
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Tuna-Fish posted:I would expect that if the properties have current tenants, the government wants to minimize disruption to them to maximize sale price of the asset. I think what happens is just a whole bunch of lawyers contact the tenants and tell them to switch the accounts they pay rent to. Yeah, seizing a property from a landlord is inherently less dramatic than evicting a tenant/homeowner since it's just about changing where the money flows.
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Mar 24, 2024 17:11
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Tuna-Fish posted:I would expect that if the properties have current tenants, the government wants to minimize disruption to them to maximize sale price of the asset. I think what happens is just a whole bunch of lawyers contact the tenants and tell them to switch the accounts they pay rent to. I think its going to be more of a disruption than that. Contracts for building support staff are going to have to be amended, security staff, cleaning staff and the like. Trump org will immediately stop payment on any services, so bathrooms won't get cleaned and trash won't get taken out. It will take a week for things to get figured out, but in the mean time the place is going to be kinda nasty. I'd expect any commercial tenants there are going to be working from home that week 
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Mar 24, 2024 17:12
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mdemone posted:So what does property seizure actually look like on this scale? Are they just going to put a chain on the doors to the golf clubhouse? Does everybody in 40 Wall Street have to stand outside on the sidewalk? I think that the first salvo has to be frozen bank accounts? It’s the simplest and most straight forward thing and it doesn’t involve Trump at all really. “Dear bank officer, pursuant to court order X and legal authority Y hold all assets in the following numbered accounts until further order. L James” Then the state accountants go through it all to decide how much of the fine can be paid directly from those accounts. Meanwhile Trumps creditors probably do something to try and keep some amount of money going to them but they may get told to wait? I think that would have to happen before any property seizure because how else do you know what to seize? Property seizure is likely just a court order to change the name on the deed to “The State of New York” to the clerk. The state probably can’t seize more than they are owed though? So, I think that will have to happen sequentially with properties being seized, evaluated and auctioned one by one?
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Mar 24, 2024 17:13
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I think 40 Wall Street is first, cuz she can see it from her office window.
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Mar 24, 2024 17:58
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Jesus III posted:The buildings magically disappear and Trump's face turns red and he poops his pants is what the cartoon version in my brain says happens. I hope I won't be disappointed. While Trump is out front arguing with James, a helicopter flies over and steals the golf course with a grappling hook
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Mar 24, 2024 18:11
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It would be funny if the buyer of one of his golf courses renames it the Obama golf course.
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Mar 24, 2024 18:34
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red19fire posted:When federal agents showed up to seize documents from trump’s office in the 80s, it was either for the casino or the civil rights lawsuit iirc, trump told the press that the agents had burst in waving guns when they had called to schedule an appointment days beforehand. If I were seizing things from Trump, I would definitely arrive for my appointment at the scheduled time, waving a firearm.
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Mar 24, 2024 18:36
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Lammasu posted:It would be funny if the buyer of one of his golf courses renames it the Obama golf course. Biden Victory 2020 Links
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Mar 24, 2024 18:41
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I think we all should be prepared for tomorrow to be anti climatic. At most we'll hear that bank accounts were seized but we won't know if there was enough money or if he moved money out suddenly to offshore accounts. (Though if he did that I would expect arrest warrents). Don't expect to see any videos of padlocked doors.
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Mar 24, 2024 18:58
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He does have a private residence out in the country in New York that they can seize. That would be fairly dramatic. https://www.trumpinternationalrealty.com/property-portfolio/seven-springs
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Mar 24, 2024 19:06
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Yeah, though they want to go for real estate last just because it's a pain in the rear end to auction off. The'll go after his bank accounts first, then start snagging stuff to auction off 60 days after tomorrow. I wonder if the RNC would buy up Seven Springs at auction
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Mar 24, 2024 19:09
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Whoever buys his property will have to spend a fortune in deep-cleaning. 
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Mar 24, 2024 19:21
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Lammasu posted:It would be funny if the buyer of one of his golf courses renames it the Obama golf course. Re-name Trump Tower to E Jean Carroll Tower. The majority of Trump's properties are probably mortgaged to the hilt. Working out how much (or how little) of each property Trump actually owns and who the rest belongs to is probably going to be a big job. Finding properties unencumbered enough to actually be worth seizing might be half the challenge.
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Mar 24, 2024 19:28
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They're also going to be mortgaged at inflated values which is going to be funny when they're forced to sell and nobody wants to pay the list price.
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Mar 24, 2024 19:32
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My long-held suspicion is that some of his buildings are (fraudulently) being used as collateral for multiple loans, and the state's unwinding of his real estate empire will reveal this, and then a whole new shitstorm will kick off.
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Mar 24, 2024 19:40
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I would have accepted air stikres or the Independece Day UFO laser.
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Mar 24, 2024 20:13
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I’m banking that he’ll still have a large set of bonds worked out for by end of day tomorrow.
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Mar 24, 2024 20:59
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FMguru posted:My long-held suspicion is that some of his buildings are (fraudulently) being used as collateral for multiple loans, and the state's unwinding of his real estate empire will reveal this, and then a whole new shitstorm will kick off. The Islamic Shock fucked around with this message at 21:18 on Mar 24, 2024 |
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Mar 24, 2024 21:16
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The Islamic Shock posted:Very likely. Wonder what happens if the government goes well we took all of your poo poo and your debt still isn't settled because holy poo poo do a lot of your properties have a negative value. I'm guessing it's that the loan collection gets to get in a long line that the government's in the front of. We discussed this at some point upthread and apparently the sort of debts Trump has accrued in these cases don't have any special priority. So I believe that means Letitia James gets to keep condemning things till she's paid, even though other parties may get paid first on each forced sale.
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Mar 24, 2024 21:26
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Hieronymous Alloy posted:We discussed this at some point upthread and apparently the sort of debts Trump has accrued in these cases don't have any special priority. Yeah, as I understand it the fact that NY State took his mortgaged property to pay of fines doesn't get him off the hook for paying the mortgage. Though I'm sure his lenders won't be too happy about the loan suddenly turning unsecured.
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Mar 24, 2024 21:30
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Cimber posted:Yeah, as I understand it the fact that NY State took his mortgaged property to pay of fines doesn't get him off the hook for paying the mortgage. Though I'm sure his lenders won't be too happy about the loan suddenly turning unsecured. Just wait until we find out his loan terms require him to put more collateral up when the real valuations are done.
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Mar 24, 2024 22:23
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Cimber posted:I think we all should be prepared for tomorrow to be anti climatic. The most that I’m looking for tomorrow is some official statement from NY confirming that the deadline has passed, confirming whether the bond was or was not posted, and maybe even confirming whether NY is moving forward on whatever plan they have. Speculation from this thread is good and all but I’m looking forward to anchoring my reality with some primary sources. Especially given some mutually contradictory claims that have come out from Trump and his legal team on the past week.
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Mar 24, 2024 23:07
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Ulf posted:The most that I’m looking for tomorrow is some official statement from NY confirming that the deadline has passed, confirming whether the bond was or was not posted, and maybe even confirming whether NY is moving forward on whatever plan they have. I am also girding my loins for the statement that he's pulled a rabbit out of his rear end at the last minute and secured a bond.
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Mar 25, 2024 00:12
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How does something like this (whatever the decision is) not leak?
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Mar 25, 2024 01:37
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We regret to inform you that Donald Trump has wriggled out of yet another jam.
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Mar 25, 2024 02:02
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Shammypants posted:How does something like this (whatever the decision is) not leak? For deadline stuff, from what I understand, they have until the very last minute or the morning of, and the vast majority of the time everyone just does whatever they're gonna do at the last minute by default.
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Mar 25, 2024 02:14
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rofl i didnt realize jury selection starts tomorrow
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Mar 25, 2024 03:13
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Pappyland posted:I’m banking that he’ll still have a large set of bonds worked out for by end of day tomorrow. I assume the deadline is EOB/5:00pm ET, correct? No one's said what the deadline is but you figure it's either end of the business day or midnight.
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Mar 25, 2024 03:23
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Hieronymous Alloy posted:rofl i didnt realize jury selection starts tomorrow Isn’t the judge considering a motion to postpone because the feds were slow to provide discovery? Marchant could deny it, probably reasonably, but that seems like a problem for the inevitable appeal that you can just avoid.
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Mar 25, 2024 03:27
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