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Topic	Politics Containment Topic 412: A Bad Deal on the Good Book
Thorn 04/02/24 9:45:13 AM #49:	Trump posted the $175m bond to keep the NYAG from seizing his assets while the appeal is ongoing. What we know in the meantime since that broke (two links because the first/ABC News one has some comments from the owner of the insurance company; second/Forbes goes some more into that owner's background and connections to Trump): https://abcnews.go.com/US/trump-secures-175-million-bond-new-york-civil/story?id=108715465 https://www.forbes.com/sites/zacheverson/2024/04/01/trump-posts-175-million-bond-new-york-civil-fraud-lawsuit/ Per ABC News, Hankey (the owner of the insurance company) reached out to Trump's team days before the appeals court reduced the required bond amount from $464m to $175m and were in talks when that ruling came down. He offers some seemingly contradictory accounts of how Trump is posting collateral to him, first saying all cash then when ABC apparently pressed him, changed to "I don't know, but it's great collateral.": ABC News reports... Hankey said his company was initially involved in talks to underwrite the original $464 million bond in the case -- then when a New York appellate court last week reduced the amount to $175 million, Hankey said his company renewed their effort to underwrite the bond. "It was a relatively low number, and Donald Trump put up all the collateral in cash," Hankey said. Hankey could not recall if Trump also used bonds as collateral for the finalized bond, noting that his company reviewed some of the former president's bonds, which he said were as "grade-A bonds, investment grade quality securities." "We're confident that we have very good collateral," Hankey said. Hankey told ABC News that he has contributed to the former president's campaign but could not recall the amount he donated. Moving over to the Forbes piece for some more background on Hankey: Forbes reports... Hankey, a billionaire who presides over an auto-services empire, may never have met Trump, but he was the largest individual owner of Axos Financial, the lender that bailed out Trump by refinancing his mortgages at Trump Tower and his Miami resort in 2022. Axos also previously had done business with the family of Jared Kushner, Trumps son-in-law. Also, it appears he was known for issuing subprime car loans: https://twitter.com/lawofruby/status/1774961269117730930 --- May you find your book in this place. Formerly known as xp1337. <cite>Thorn posted [p:979690903] in Politics C... [t:80732006]...</cite> <quote>Trump posted the $175m bond to keep the NYAG from seizing his assets while the appeal is ongoing.What we know in the meantime since that broke (two links because the first/ABC News one has some comments from the owner of the insurance company; second/Forbes goes some more into that owner's background and connections to Trump): https://abcnews.go.com/US/trump-secures-175-million-bond-new-york-civil/story?id=108715465 https://www.forbes.com/sites/zacheverson/2024/04/01/trump-posts-175-million-bond-new-york-civil-fraud-lawsuit/ Per ABC News, Hankey (the owner of the insurance company) reached out to Trump's team days before the appeals court reduced the required bond amount from $464m to $175m and were in talks when that ruling came down. He offers some seemingly contradictory accounts of how Trump is posting collateral to him, first saying all cash then when ABC apparently pressed him, changed to "I don't know, but it's great collateral.":ABC News reports...<quote>Hankey said his company was initially involved in talks to underwrite the original $464 million bond in the case -- then when a New York appellate court last week reduced the amount to $175 million, Hankey said his company renewed their effort to underwrite the bond. "It was a relatively low number, and Donald Trump put up all the collateral in cash," Hankey said. Hankey could not recall if Trump also used bonds as collateral for the finalized bond, noting that his company reviewed some of the former president's bonds, which he said were as "grade-A bonds, investment grade quality securities." "We're confident that we have very good collateral," Hankey said. Hankey told ABC News that he has contributed to the former president's campaign but could not recall the amount he donated.</quote>Moving over to the Forbes piece for some more background on Hankey:Forbes reports...<quote>Hankey, a billionaire who presides over an auto-services empire, may never have met Trump, but he was the largest individual owner of Axos Financial, the lender that bailed out Trump by refinancing his mortgages at Trump Tower and his Miami resort in 2022. Axos also previously had done business with the family of Jared Kushner, Trumps son-in-law.</quote>Also, it appears he was known for issuing subprime car loans:https://twitter.com/lawofruby/status/1774961269117730930 --- May you find your book in this place.Formerly known as xp1337.</quote> ... Copied to Clipboard!
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