Blog Credo

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.

H.L. Mencken

Thursday, March 7, 2024

Paying The Piper

 David Graham at The Atlantic has a good rundown of why Trump's impending fines are a very real problem for him. Basically, Trump has maintained a secretive, closely held business model for the Trump Organization. It's opaque; we don't know who he owes money to or how much. This is obviously not ideal for someone who got security briefings for four years. Trump's indebtedness would have disqualified him for a normal security clearance.

Trump's legal standing is weak, but he might get a temporary or partial reprieve as he tries to scrounge up the money. However, there's another chance that Letitia James starts seizing and auctioning off his properties. The first proceeds from that auction go to lien holders. So if she auctions off a building for $60m and there are $30m worth of liens on it, he's lost a property and only had half the value applied to his fines.

Graham ends by noting that Trump has seemingly managed to go his whole life without paying for the consequences of his many misdeeds. Doomerist progressives will complain that he will likely get away with again.

I'm not so sure. The money people don't fuck about.

No comments: