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Trump posts nearly $92 million bond in E. Jean Carroll defamation case | CNN Politics (www.cnn.com)

submitted 9 months ago by kescusay@lemmy.world to c/politics@lemmy.world

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Wow, someone actually finally managed to force Trump to pay a bill.

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[-] FlowVoid@lemmy.world 107 points 9 months ago* (last edited 9 months ago)

It was definitely not directly from Trump.

Insurance company Chubb underwrote the bond for Trump, which the former president signed on Tuesday. Under the terms of the bond, Chubb will only secure the appeal of the $83.3 million judgment, not any future appeals.

Let me save you some trouble:

Chubb Limited is an American company incorporated in Zürich, Switzerland. It is the parent company of Chubb, a global provider of insurance products covering property and casualty, accident and health, reinsurance, and life insurance and is the largest publicly traded property and casualty insurance company in the world

[-] dhork@lemmy.world 36 points 9 months ago

Wouldn't be the first time Trump has paid good money for a chubb

[-] CaptDust@sh.itjust.works 35 points 9 months ago* (last edited 9 months ago)

Of course it's the Chubb group. Of course. It's funny they are supposedly a huge corp, but the only time I hear about them is when they're meddling and buying politicians

[-] GroundedGator@lemmy.world 1 points 9 months ago

I would love to know about more instances about this.

[-] Tar_alcaran@sh.itjust.works 10 points 9 months ago

I wonder what kind of insane terms are on that loan

[-] jmanes@lemmy.world 8 points 9 months ago

Not that it would matter. Trump doesn’t honor agreements.

[-] Tar_alcaran@sh.itjust.works 11 points 9 months ago

Exactly. So what kind of terms would it take for someone to loan nearly 100m to someone like that?

[-] Jimmyeatsausage@lemmy.world 9 points 9 months ago

Well, not financially anyway. Maybe a promise for a future political favor if he wins? Not that I'd accuse a Swiss financial interest of working with fascists...

[-] FlowVoid@lemmy.world 6 points 9 months ago* (last edited 9 months ago)

I think he probably put up a building or two as collateral, kind of like a HELOC. If it's not paid back, they repo the building(s).

[-] mercano@lemmy.world 9 points 9 months ago

I hope they got their own appraiser, because the Trump org is infamous for making up numbers. Better check the paperwork at city hall, too, to make sure there are no undisclosed mortgages, leans, or easements on the property.

[-] RememberTheApollo_@lemmy.world 6 points 9 months ago

An institution capable of making risky loans of substantial size certainly should have high quality risk and valuation assessment capabilities.

[-] VirtualOdour@sh.itjust.works 3 points 9 months ago

I imagine it's fairly standard boilerplate for the situation 'You must install corporate fascism and give me a job with medals and stuff if we manage to lie and cheat you into power again'

[-] cqthca@reddthat.com 5 points 9 months ago

so some of us premium payers took the risk, and he could send us a personal letter like he did when "He" sent us Covid Relief Checks.

this post was submitted on 08 Mar 2024

389 points (98.5% liked)

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