General Discussion

brooklynite

(94,591 posts) Tue Sep 26, 2023, 07:52 PM Sep 2023

I hate to spoil everyone's fun, but people are misinterpreting the NY Trump ruling... [View all]

First and foremost, the Trump Org and its affiliates and their assets are not being seized by NYS, so "is Trump still a Billionaire" questions are meaningless at this point. The corporate entities will be dissolved, but their assets and liabilities will be transferred to the corporate owners (Trump and family) who will transfer them to some new out of State entity.

Second, however much Trump is determined to have defrauded the State and private entities, this is solely a lawsuit on behalf of the State, and the requested penalty amount (subject to further litigation) is $250 M. Where that payment comes from is presumably up to Trump and family. And any private entity which feels it was defrauded would have to file separately.

110 replies

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I hate to spoil everyone's fun, but people are misinterpreting the NY Trump ruling... [View all] brooklynite Sep 2023 OP

Thank you PJMcK Sep 2023 #1

Just like a perennial 0-17 football team. WarGamer Sep 2023 #8

I think his problem is he can't make money in the state... Grins Sep 2023 #37

Speaking of getting whacked... Sky Jewels Sep 2023 #80

Except he is not allowed to transfer assets, and has been stopped from doing so already obamanut2012 Sep 2023 #87

His worshipers will give him the 250 mil. louis-t Sep 2023 #2

Fine by me. Wednesdays Sep 2023 #12

The Trump tax lame54 Sep 2023 #55

though true, my understand some of the sanctions Recycle_Guru Sep 2023 #3

Can he still do business in NY? viva la Sep 2023 #4

I don't understand why you think people here who think this is 'fun' need scolding bigtree Sep 2023 #5

Great post Just_Vote_Dem Sep 2023 #6

+1 MorbidButterflyTat Sep 2023 #14

Heh, Drump thinks Maro Logo Disaffected Sep 2023 #20

"If they can do this to me, they can do it to you" Conjuay Sep 2023 #83

Agree, I am listening to a TikTok live, with a lawyer reading the entire judgement --so interesting ismnotwasm Sep 2023 #19

This! senseandsensibility Sep 2023 #21

Ugh--thank you! crimycarny Sep 2023 #29

From my ForgedCrank Sep 2023 #70

Most excellent malaise Sep 2023 #31

Thank you! HAB911 Sep 2023 #63

I was not surprised who the author (of the original post) is. triron Sep 2023 #72

Right. H2O Man Sep 2023 #74

Ask Slobby if yesterday was a big deal- his demented response speaks,volumes malaise Sep 2023 #76

Yes. H2O Man Sep 2023 #77

I would hope so malaise Sep 2023 #78

Oh c'mon BeyondGeography Sep 2023 #7

Do you? Surprisingly, I do not. Demsrule86 Sep 2023 #10

Fine as can be hoped for, thank you BeyondGeography Sep 2023 #18

I have done really well...46 days in the hospital almost didn't make it...had a bad aortic valve. Demsrule86 Sep 2023 #23

Glad you feel better! Just_Vote_Dem Sep 2023 #25

Inspiring BeyondGeography Sep 2023 #27

Ha ha, my thought exactly. Sky Jewels Sep 2023 #79

..... obamanut2012 Sep 2023 #88

Really the term dissolution is in the order...He was found guilty basically. Demsrule86 Sep 2023 #9

You could be a great internet lawyer dpibel Sep 2023 #11

My wife is a public servant at the Treasury Department... brooklynite Sep 2023 #32

Who is this man of straw of whom you speak? dpibel Sep 2023 #36

In other threads, people have been talking about... brooklynite Sep 2023 #42

You are a funny guy dpibel Sep 2023 #45

go check the records. all of his many entities (even in other states) Recycle_Guru Sep 2023 #56

lol Recycle_Guru Sep 2023 #53

The biggest remaining question for me is: Fiendish Thingy Sep 2023 #13

If I understood correctly, attorney Lisa Rubin just said spooky3 Sep 2023 #15

Correct, the OP is mistaken obamanut2012 Sep 2023 #89

TY nt spooky3 Sep 2023 #93

NP! obamanut2012 Sep 2023 #95

Today's ruling is a malaise Sep 2023 #16

Lots of well known legal eagles on news networks tavernier Sep 2023 #26

I don't belive you are anywhere near correct..... getagrip_already Sep 2023 #17

OP is incorrect obamanut2012 Sep 2023 #90

Isn't that 250M a conservative figure and it's likely to be much more? brush Sep 2023 #22

I guess he'll move everything to Florida. sinkingfeeling Sep 2023 #24

How's he gonna MorbidButterflyTat Sep 2023 #35

Very easily. former9thward Sep 2023 #47

Does he control it dpibel Sep 2023 #50

no. he is fucked Recycle_Guru Sep 2023 #57

The receiver just can't do anything they want. former9thward Sep 2023 #64

one thing that may be overlooked bigtree Sep 2023 #66

The Trumps can't do a damned thing, and they won't be seeing much money obamanut2012 Sep 2023 #97

There is no court judgment. former9thward Sep 2023 #105

And, Buyers Aren't Stupid ProfessorGAC Sep 2023 #100

Of course, they will have to shove Saudi royalty aside spooky3 Sep 2023 #101

Which We Know Is Nonsense ProfessorGAC Sep 2023 #103

He isn't allowed to -- he and his family and minions have zero control over his assets obamanut2012 Sep 2023 #96

The assets can be sold. former9thward Sep 2023 #104

He is not allowed -- he is barred from moving assests obamanut2012 Sep 2023 #91

LOL. LowerManhattanite Sep 2023 #28

Question from a lesser mortal dpibel Sep 2023 #30

Reality sucks; but I find its a better way to look at facts. brooklynite Sep 2023 #33

As A Practioner Of The Art, Sir, I Suspect Drollery The Magistrate Sep 2023 #34

Hm. ExWhoDoesntCare Sep 2023 #82

I heard the businesses will go into the hands of "receivers" Captain Zero Sep 2023 #38

None of Trump Orgs liabilities are immediately called in... brooklynite Sep 2023 #44

you are so wrong Recycle_Guru Sep 2023 #58

lol that is the opposite of what will be happening obamanut2012 Sep 2023 #98

Sure Jan maxrandb Sep 2023 #39

I have to disagree on one minor point--- DemocraticPatriot Sep 2023 #40

Touching a gun is not "possession" when the gun is, at the time, owned by the store. brooklynite Sep 2023 #43

Yes, that was my own opinion... DemocraticPatriot Sep 2023 #46

The Trump Organization consists of the 3 remaining siblings, am I right? FakeNoose Sep 2023 #41

Who said anything was being seized? herding cats Sep 2023 #48

Oh, you lesser mortal! dpibel Sep 2023 #49

That was awesome. Moosepoop Sep 2023 #52

+1 dalton99a Sep 2023 #54

+2 Sky Jewels Sep 2023 #81

Hehe honest.abe Sep 2023 #62

well done obamanut2012 Sep 2023 #92

Nailed it malaise Sep 2023 #60

Perfect response.... Spazito Sep 2023 #61

I thought my "Sure Jan" post was good maxrandb Sep 2023 #67

interesting Snooper9 Sep 2023 #73

the poster was speaking in future tense Recycle_Guru Sep 2023 #108

negative Snooper9 Sep 2023 #110

i wonder if the decision means the NJ could pull his liquor licenses moonshinegnomie Sep 2023 #51

Just like this one - you won't join in with the cheering that he is a rapist malaise Sep 2023 #59

+1. "Trump is an authoritarian or fascist"? Hmmm. "Traitor"? Heavens, NO! Define "treason"! dalton99a Sep 2023 #68

Exactly. H2O Man Sep 2023 #75

right again --and what he did clearly is in the scope as federal law spooky3 Sep 2023 #102

Correct is right malaise Sep 2023 #106

Your actual take, or copied & pasted from X/Twitter? nt Rob H. Sep 2023 #65

This thread went very well, I think. BannonsLiver Sep 2023 #69

How condescending...just trying to educate lesser mortals I guess... Demsrule86 Sep 2023 #71

NY Times: The decision dealt Mr. Trump a major blow. honest.abe Sep 2023 #84

Besides the cash judgement which would be $250 millin edhopper Sep 2023 #85

The fun will come after the trial. ananda Sep 2023 #86

OP is mistaken -- the assets cannot be transferred obamanut2012 Sep 2023 #94

Well this did not turn out quite as expected, did it? Voltaire2 Sep 2023 #99

yep Recycle_Guru Sep 2023 #107

Fire Sale NowISeetheLight Sep 2023 #109