Hey there, boys and girls, let's play a round of the new game show "Wuddaya Seize First?"

[Stinky The Clown]

For me, I want Motherfucker Tower and then Mar-A-Lago.

Maybe we can work a deal with Scotland for his golf courses there.

Then Bedminster - and Ivana's grave/safe deposit box.

[TheBlackAdder]

1. Trump Tower & Bedminster -- Keep that skeezer in Florida.

[magicarpet]

54. Very first item,...

.... take that 757 personal jet away and liquidate it pronto. Then he can't do his coast to coast Nazi Rallies to roil up his brain dead Fascist cult followers.

If he was grounded he would go nuts twice as fast.

[TheBlackAdder]

61. Make him pay coach on Southwest 🤣

[RockRaven]

2. Whatever is most encumbered with debt... So we don't get much

if anything out of it's liquidation... So we need to seize more. Repeat.

[onecaliberal]

53. THIS. - WINNER

[underpants]

3. 😆

[Stinky The Clown]

4. You win the thread!!!!

[RANDYWILDMAN]

24. Chico's ROFL

[underpants]

36. Let Freedom Ring!

☎️

[LetMyPeopleVote]

5. TFG's shares in Trump Media (the entity that owns Truth Social)

[WarGamer]

16. DWAC merger vote on Friday

DWAC says Delaware court has cleared path for March 22 vote on merger with Trump’s social-media company

https://www.marketwatch.com/story/dwac-says-delaware-court-has-cleared-path-for-march-22-vote-on-merger-with-trumps-social-media-company-3bda5bba

[LetMyPeopleVote]

18. Until the merger with the SPAC is consummated, these shares would be cheap at a foreclosure sale

Over the years I have done several public foreclosure sales of pledged stock. The lender has always been the only bidder in these sales. My oldest child is a partner at a major law firm in the finance section and we discussed this course of action. We both agree that a foreclosure sale of TFG's Trump Media and Technology stock would be fun and could really screw TFG.

Here, TFG's shares of Trump Media and Technology, Inc stock could be levied on and put up for sale. AG James could bid a very low amount for these shares and take over Trump Media and Truth Social for a fairly low amount. If the SPAC merger has not been consummated, then this sale would kill that merger. If the SPAC merger does go through, TFG would have to put up some real money to bid for these shares or risk losing control of the new public entity. This would be fun to watch.

[WarGamer]

20. hahhaha...

[LetMyPeopleVote]

23. It seems that no one wants to take a pledge of TFG's stock in TMT

If this stock is really valuable, then a surety should take it as collateral.

AG James needs to foreclose on this stock and do a foreclosure sale

[WarGamer]

29. Probably because it's not available to him yet.

Because Trump would own 79 million shares in the postmerger company, the deal could give him a "financial lifeline," according to The New York Times. The stock closed on Wednesday at $40.19 per share. At that price, Trump's overwhelmingly majority stake would be worth over $3.1 billion.

But the merger isn't complete YET and Trump can't sell his stake for 18 months after merger...

Hope that helps...

[LetMyPeopleVote]

32. TFG has stock in either entity that can be foreclosed on starting Tuesday

The stockholder vote is Friday and the merger may well close immediately after the vote or the consummation of the merger could be delayed. Most of the public mergers that I have consummated were done the same day as the merger vote. In either event, AG James can start foreclosure on TFG's stock in either entity next week without regard to whether TFG is free to sell such stock. Most of the foreclosures of pledged stock that I have consummate were shares in private or non-public companies. There are a series of SEC no-action letters on foreclosure sales of non-public companies that are easy to comply with. The fact that the stock is restricted means that AG James can bid a very low price for these shares and wipe TFG's position out in the existing or merged company.

This will be fun to watch.

[Volaris]

34. IF that were to happen, can NYS turn around and sell it for an insane profit after the merger?

Because that would be just hilarious

[LetMyPeopleVote]

37. The $3.1 billion value is very misleading and is not real

SPAC (Special Purpose Acquisition Corporations) transaction have been basically dead for over a year. The Digital World Acquisition/Trump Media and Technology transaction has been hung up with the SEC until DWT settled with the SEC and paid a fine. The value of the new entity resulting from the merger is based on some speculation about TFG's ability to generate income in the media world. I find this speculation amusing and I was thinking about shorting the stock of the merged entity.

I hope that there will be a levy on TFG's stock and a foreclosure because this would hit TFG where it would hurt the most

[WarGamer]

39. That's incorrect.

The $3.1B estimate is based on a stock price around $40... it's like 37 now so call it $2.9B

It's really simple math... multiply number of shares x stock price on Friday after the merger is approved.

If the stock drops to $10/share... his stake would drop to $800m

If it spikes to $100/share, call the stake value $7-8B

[LetMyPeopleVote]

40. Thank you for the laughs

If you believe that the $37 per share stock price is a realistic value for the new company formed in the merger, then I have some clients with stock in a company called Enron that they paid a high price for that they will sell to you at their cost. TMT's only operations is Truth Social which has lost a ton of money. The current stock price is based on some unrealistic assumptions based on TFG remaining the head of the merged company. I am amused that there are people who believe that TFG will be able to turn the new company into a successful company. The last public company that TFG led was the casino company that went bankrupt. TFG's track record is not a good one. I saw that TFG tried to sell Truth Social to Musk. I have a feeling that even TFG has doubts about the short term prospects of this new company.

You do realize that TFG cannot sell such shares for some time and the NYT article noted that if TFG starts selling, the value will go down. However, we are talking about a foreclosure sale where the NY AG office will not likely be facing any serious bidders willing to pay for an illiquid stock for a company that will no longer have TFG as the major shareholder. Non-publicly trading stock in a new company that will no longer have TFG as the majority shareholder will be worth whatever the successful bidder is willing to pay. I doubt that these shares sold in a foreclosure sale will generate enough proceeds to satisfy the judgement owed by TFG. I predict that the NY AG will not bid more than pennies per share for this stock in a public foreclosure sale and would be happy to be outbid since the result will be TFG no longer having this stock.

Again, thank you for the laughs.

[WarGamer]

41. Only 4 more days to wait and see what happens.

[LetMyPeopleVote]

42. Trump-Linked Digital World Acquisition Hits 7-Week Low As Ex-President Struggles To Secure Bond In Civil Fraud Case

The market seems to be concerned about the lack of a bond

Link to tweet

https://www.benzinga.com/markets/equities/24/03/37810916/trumps-spac-for-truth-social-hits-7-week-low-as-ex-president-struggles-to-secure-bond-in-civil-f

On Monday, the stock of Trump-linked Digital World Acquisition Corp

What Happened: The shares of DWAC plummeted by as much as 8.74% to $35.58 on Monday, the lowest level since Jan. 30. This comes as Trump’s attempts to secure a bond to cover a $454 million judgment in a New York civil fraud case were rejected by 30 surety companies, bringing him closer to the potential seizure of his properties, Reuters reported.

Trump’s legal team proposed that he be allowed to post a $100 million bond while he appeals the judgment. Earlier this month, Trump posted a $91.6 million bond to cover a defamation verdict for E. Jean Carroll as he appeals a case stemming from her accusation of rape against him.

The market is correct to be concerned. This is low market cap stock that appears to be very overvalued given that there has been only losses and no real prospect of earnings in the foreseeable future. I would be surprised to see any major company take this stock as collateral.

The trouble with your prediction is that AG James has the ability to levy on and foreclose on TFG's stock at any time after March 25 unless a bond is posted. The fact that the stock cannot be sold by TFG will not prevent AG James from levying on and selling such stock in a foreclosure sale. I have done a number of private/public foreclosure sales of stock over the years and I am working on one such sale now. Under a series of SEC no action letters, AG James can hold a public foreclosure sale of TFG's stock in the merged entity and bid whatever price that she thinks this stock is worth. The result of such foreclosure sale will be that TFG would not have any ownership in the new merged entity which will have an effect on the value of the company in the minds of reasonable investors.

So far none of the 30 companies who rejected TFG's bond request have agree to take this stock as a collateral. I will be surprised to see any company taking the risk of taking a low cap/thinly traded stock with no earnings as collateral. This will be fun to watch.

[WarGamer]

45. IIRC, Friday 3/22 comes BEFORE 3/25 and LJ ability to seize anything.

So my theory is sound.

[LetMyPeopleVote]

46. We will see

Any surety that issues a bond based on this sketchy stock will be running a major risk. We will see if a bond is posted.

[WarGamer]

47. Yes, agreed... we will see.

[LetMyPeopleVote]

48. BTW, if your theory has any merit, why is TFG doing a fire-sale of his assets?

[WarGamer]

49. Are you talking about the comment he made?

[LetMyPeopleVote]

50. TFG is the one who announced this fire sale

https://www.democraticunderground.com/100218791405
https://democraticunderground.com/10143211877

BTW, have you read the SEC filings. The youtube video posted does a decent job of explaining these filings that even a layperson should be able to understand

The risk factors in the latest filing are really fun to read but this video does a good job of explaining these risk factors that even a layperson may be able to understand

[WarGamer]

51. Trump's quote?

“I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense?

[TheBlackAdder]

35. Aren't a couple of shareholders suing to block the merger?

[WarGamer]

38. came to nothing... vote is Friday.

[LetMyPeopleVote]

43. I have been following this transaction for a while

I have been following this transaction for a long while and have read the SEC filings. I really love the risk factors on why this transaction has issues. SPACs in general never really made sense to me and there has been no new SPAC for a while. This SPAC had issues from day one and the SEC finally approved the transaction after fining the company $17 million and having some of the original management leave.

Here is a good post by a someone who read and had a good understanding of the SEC filings for this merger.

Link to tweet

This will be fun to watch. SPACs are not being done now due to the fact that these deals are risky and fail. Given TFG's record, this transaction is going to suffer the fate of Trump Air and other Trump failures. I actually flew on Trump Air when there were more flight attendants than passengers.

[WarGamer]

44. you claimed last year there was NO WAY the merger would finalize.

[LetMyPeopleVote]

62. Vanity Fair has a good article on meme stocks and some of the problems in using this stock for a bond

I was amused to see that DWAC/Trump Media is classified as a meme stock where the value is due to personality and not due to the real value of issuer of the meme stock. This article is a good discussion of the meme nature of DWAC/TMT.
https://www.vanityfair.com/news/donald-trump-truth-social-media-merger

Trump’s financial future now hinges on some of the strangest fads in corporate finance—meme stocks, SPAC deals, and cult-of-personality investing. If Trump can find a way to act fast, it might just be the bailout he desperately needs.

Truth Social is a bad imitation of Twitter, where Trump was an unavoidable presence long before he ran for president. It’s chock full of stale red-pilled memes, MAGA conspiracy theories, and of course, Trump. That’s the main draw. Truth Social is the only place the former president now regularly posts his unfettered thoughts......

DWAC is best thought of as a meme stock. You may remember the meme stock fad from when retail investors on Reddit successfully coordinated a short squeeze with GameStop stock, before glomming onto a series of other millennial nostalgia brands like AMC Entertainment, BlackBerry, and Bed Bath & Beyond. Meme stocks are often publicly traded companies that attract an inordinate percentage of individual investors and their stock performance fluctuates in a way that’s significantly divorced from the reality of their underlying business. Combine those two trends and you’ll start to see why Trump’s media company could be valued at roughly $9 billion if it merges with DWAC.

Jay Ritter, a finance professor at the University of Florida, says meme stocks often depend on the “greater fool theory of investing,” meaning rational investors might buy in expecting the stock price to rise and betting that they can sell their shares to a greater fool willing to buy them at a higher price. In this case, however, Ritter speculates there is an inordinate number of individual retail investors compared to institutional investors, such as hedge funds, that normally own SPAC shares prior to a merger. “Here you’ve got ideology involved [too]—as far as I can tell, the vast majority of DWAC investors are Trump political investors, and they’re to some degree putting their money where their mouth is… My suspicion is most of them have bought the stock as a show of political support.” In this way, Trump is conducting yet another public fundraising from his supporters—this time through the public markets.

TFG is locked up and cannot sell or pledge this stock for six months following the merger. Even if TFG was able to pledge the stock the stock is so volatile that a bank would be crazy to take this stock as collateral.

The problem for Trump here is that when he tries to sell stock, it very well may tank the whole enterprise. (He’s technically restricted from selling stock for six months after the deal closes, but could get a waiver from the board of directors.) “The faster he sells and the more he sells the quicker the stock price will decline,” Ritter said. Another major problem would be if the deal to go public is stalled by a lawsuit—such as a recent one brought against Trump Media from embittered cofounders, who claim their share in the company was diluted by Trump and his allies.

Trump might be able to borrow money with his stock as collateral as a way to gain access to money more quickly, but he would have to either get an exemption from the post-merger company or just move ahead without one and hope that the board lets it slide, Ohlrogge said, since the terms of the agreement with DWAC don’t allow it. “If there were a bank that did take such a deal [allowing Trump to use his stock as collateral], it would raise serious concerns that the bank is doing it for reasons other than a belief it is a profitable lending opportunity,” he said. “Namely, it would raise concerns that the bank is doing it in order to win influence with someone who might become US president. If that bank were affiliated directly or indirectly with a foreign government, it would be even more concerning still.”

Any bank that made such risky loan would be subject to attack. Lawrence O'Donnell commented on Chubb's bond (which appears to be secured by cash) and after such criticism, Chubb backed out

Link to tweet

Link to tweet

This will be fun to watch

[cayugafalls]

6. Take. It. All.

Duck Fump

[OAITW r.2.0]

7. I wonder what the true net worth is for Trump and his properties, after creditors are paid off?

He might be lucky to net out $10mm after everything is sold off and his fines are paid off.

[coprolite]

8. I would start with his 757

Make him rent a jet to travel to his rallys.

[Stinky The Clown]

9. I LIKE that!!

[TSExile]

10. Or worse...

...make him fly COMMERCIAL. AAAAH!!.

[LiberalFighter]

21. Would anyone want to be on the same flight as him?

[madinmaryland]

30. Oh god no! Imagine stuck next to that smelly fuck!

🤢🤢🤢🤮🤮🤮🤮

[LoisB]

11. Does he even have (now) $467 million in equity in anything?

I'm sure all his properties are mortgaged to the hilt.

[rubbersole]

12. Wonder what the going rate is for smoke and mirrors....

[LoisB]

19. Probably about $1.00.

For someone who is always bragging about how rich he is, he sure is crying poor mouth. I guess Jared and Elon turned him down.

[madinmaryland]

31. Similar to thoughts and prayers.

[librechik]

13. Scotland would pay us to get rid of Trump.

But I hope they get a decent price--it's a Moving Out sale and bless their hearts they hate TaDumpSshh as much as we do.

[Buns_of_Fire]

14. "Carroll Tower" has a nice ring to it. nt

[WarGamer]

15. well motherfucker doesn't own the tower... so there's that.

[malaise]

17. Love this OP

Rec

Go for the Tower so he jumps first

[Mr.Bill]

22. I have thought for a long time

that his net worth is a negative number. There may be someone somewhere that would be able and willing to bail him out, which I think is what happened with the bond he recently posted. But half a billion is a whole different ball game.

[Bundbuster]

25. Seize all of his diapers

and let the world see the true horror of Smelvis.

[MyOwnPeace]

56. Eeeeeeewwwwwwwwwwwwwwwwwwwwwww!!!!!!!!!!!!

GAWD, NO!!!!!!!

NO government employee, no matter how much they may still 'support' der former Fuhrer' deserves THAT duty! Besides, that would somehow involve the EPA 'Toxic Waste Dump' division - and you KNOW the MAGAts would complain about that!

[greatauntoftriplets]

26. Mar a Lago.

I'm sick of looking at all the twist at his parties. Yes, I know that sO don't have to look at them, but who can resist?

The Irish golf course second because it's an affront.

[PJMcK]

27. This is simple

AG James has the list of assets used by the judge overseeing Trump's businesses. That would indicate what Trump's equity is in each asset.

Hit him where he lives. Literally. Take his ownership in Trump Tower. I think he only owns his triplex and some of the commercial spaces. Most of the building is a condominium so even if the building is worth a few hundred million, it isn't all Trump's. But take the triplex anyway just to fuck with him.

Next, grab 40 Wall Street. Trump brags about it so it's obviously important to him. Same for Bedminster Golf Club. Push his ass out of the New York tri-state region. This has the added bonus that we could find out what's hidden in Ivana's casket.

Snatch that B-757 and mothball that ancient rust bucket. Repaint it immediately.

At this point it would be instructive to add up the proceeds so far. I'd bet we're not even halfway there!

The thing is, Trump is not really rich. He's got his tiny fingers in a lot of visible pots but he's not the principal owner in most of them. He's also got mortgages and loans all over the world and those obligations are crushing requiring a constant firehose of cash flow. Since his businesses are in decline, he hasn't got the money to stay afloat. It's truly something amazing to watch. It's all going to come crashing down because of these financial penalties.

It's almost over for Trump.

[jmowreader]

28. Everything in the state of New York

These will be the easiest assets to get since they aren't considered "foreign." (Anything he has outside the state of New York, including all his US properties outside NY State, are considered foreign assets.)

Once you've depleted him of those, go after foreign assets in blue states, like Bedminster and Trump Tower Chicago. Trump Hotel Vegas might also be easily taken.

Mar-a-Lago and his other Florida properties are going to be more difficult because the state government there is so pro-Trump, but there's always hope.

His international properties will probably be very difficult, although the ones he has in Scotland should be less difficult than others since they can't stand him there.

The endgame is to leave him with no properties to his name, and they have the legal horsepower to make that happen.

[NanaCat]

33. The locals in Doonbeg

Are the only people in Ireland who like him. The vast majority outside of that little village (population 262) hates his guts.

[PurgedVoter]

52. The suspense is not killing me but maybe just maybe it's too much for someone.

I wonder if they have a big spinner with all the properties on it? I would watch that show.

[Permanut]

55. When it's time to auction off Bedminster..

Maybe Geraldo Rivera would be the guy to unearth Ivana's vault.

[enid602]

57. Seizure

The only seizure I want to see is the one he suffers after his first conviction. Hope it causes him to release his bowels and stink up the entire courtroom,

[AllaN01Bear]

58. trump towers and that airplane of his .

[doc03]

59. I have heard that in Florida your home can't be taken. I remember hearing that was the reason

OJ moved to Florida. I think Trump tower and his airplane would hurt him most. I suppose Trump Tower
Is his most prised possession and the GOP would have to purchase an airplane so he can do his rallies.

[lindysalsagal]

60. Wonder how much he could get for Eric?

Nah. Never mind.

[Raine]

63. What's near me is the Trump National Golf Course

along the coast. I would like to see that returned back to nature. When you look in that direction all you should see is ocean not a golf course.

[GoodRaisin]

64. His money and Mar-a-Lago. Mar-a-Lago because he gets

thrown out of his house. Hopefully news coverage of sheriff escorting him off the property