A wise man considers a fool

Speaking of longtime Oregon bloggers, the Portland commentator who goes by the psuedonym Isaac Laquedem celebrated 20 years in the blogosphere earlier this month. He or she is resolving to post more often in the year ahead, which is great news for readers. The writing there is eminently civilized, often quite amusing, and always smart as a whip.

Currently, Laquedem has a nice analysis of the New York judge's opinion in the civil fraud case against Orange Caligula and his evil spawn. Executive summary: The decision seems unlikely to be reversed on appeal.

The judge turned to Eric Trump, whose "credibility was severely damaged when he repeatedly denied knowing that his father ever even compiled a [statement of financial condition] that valued his assets and showed his net worth 'until this case came into fruition.'" (Page 32.)  And the court kept firing salvos in his direction: "When the documentary evidence against him became overwhelming, Eric Trump reversed his previous testimony."  (Page 32.)  "Eric Trump's testimony [about appraisals] was shown to be false when he was confronted with the ample contemporaneous documentary evidence demonstrating otherwise." (Page 33.)

And then there was Donald Trump himself, whom Judge Engoron deflated in a footnote.  On page 36, the judge wrote, "Nonetheless, Donald Trump insisted that he believed Mar-a-Lago is worth 'between a billion and a billion five' today, which would require not only valuing it as a private residence, which the deed prohibits, (footnote 19), but as more than the most expensive private residence listed in the country by approximately 400%."  Footnote 19 reads, "A fact of which he is well aware, having signed the deed himself."  He concluded with this politely damning description of the former president's time on the stand: "Overall, Donald Trump rarely responded to the questions asked, and he frequently interjected long, irrelevant speeches on issues far beyond the scope of the trial.  His refusal to answer the questions directly, or in some cases, at all, severely compromised his credibility."  (Page 37.) 

Meanwhile, Donnie is having trouble raising a bond for his appeal of the $500 million judgment against him in that case, which means that the New York attorney general may start collecting soon. It seems the insurance companies who write the bonds don't take real estate as collateral, nor are any of them buying the dictator wannabe's claims that his hideous trademark is worth billions. 

The mud-faced menace does have millions in stocks in a Charles Schwab account, but those are apparently all pledged as collateral now for an appeal bond, issued by Chubb, in the E. Jean Carroll defamation case. Ms. Carroll has a judgment against the Trumpster for more than $90 million.

The Trump financial empire has always been nearly as fake as his hair and his tan, and it is under enormous strain now. Not to mention possible off-the-books debts to Russian mobsters and others that would be making matters even worse. The most dangerous man in America is desperate. He and his minor league lawyers would be fun to watch if the whole situation weren't so scary.


  1. I seriously doubt that The Donald’s business model is much different than any regular large property developer in NYC. The whole thing is really built on a house of cards, and fraud and shady practices are probably the norm.

  2. Political discussions will be interesting this coming Thanksgiving

  3. I checked out Isaac Laquedem's blog. Good stuff! Thanks.

  4. Trump is lying that bond companies won't take real estate to secure bonds. There are no declarations or affidavits from any of the insurers he claims to have attempted to secure the bond from. He's just making it up. They will take real estate as collateral, but they need to have a reasonable multiple above the assessed values of the properties to account for the fact that they will all have to be sold at once, and forced sales do not generally bring in premium prices. It was only a few weeks ago that ace attorney Alina Habba was scoffing at the notion that he didn't have the cash to put up. It will be entertaining to watch him sputter and fizzle as he gets increasingly desperate.

  5. Different Judge, but the above comment that most real estate weasels taxes/businesses look like Donnie from Queens is true, and in another case, Judge Lewis Kaplan who was involved in the appointment of a private prosecutor for a contempt case against Steven Donzinger, putting him in house arrest for >500 days & jail for 6-months after he won the landmark 9.5 billion judgement against Chevron.

    I’m not really surprised/on labor issues the court(s) often have 0 or 1 dissenting opinions when it comes to anything vaguely international labor or environmental issues that might hurt corporations.
    But I also can’t take seriously any of those articles/drama about Kaplan scolding Trump or whatever?

    Tough time if you’re me and you don’t really put much faith in the feds/ CIA/FBI/similar that can mostly only do bad stuff, but also realize that empowering locals often means empowering the right these days (or sowing seeds for a crackdown in collapse like here) in practical terms.

    It’s not like Biden and the dems give you much or any positive reason to vote for them…
    Zzz I assume Trump will probably win?

    If one of the two candidates no one seems to want that have both been president for 1 term now would drop dead, (maybe even preferably Biden while there’s still time, tho Kamala is one of the weirdest most off-putting if she ends up running), it’d probably be a relief?

  6. I’d be fine if either Biden the senile Israel octogenarian genocidaire or Trump dropped dead.

    Doubtful, sadly.

    If Biden loses, I assume whatever cocktail of drugs & care they keep him alive on will stop and he’ll just die & turn to dust in a day?

    Idk on Donnie from Queens?
    He seems to have opposite health stats from almost any other human.
    I guess that’s part of why I can’t work up anything against Melania (bad/awful as she likely is)…
    …she had to have been looking at being stuck in the post Soviet balkans in about the worst decade & watched him eat and figured ‘10 years, tops’…
    …she’s had to put up with him almost 20 more years(& counting) & there may not be any $ left between the rest of the family & govt.

    I still doubt/can’t take any news all that seriously that the precedent will be set that any past president will face anything serious, since the job is to do crimes. Who would run or or take the job if such a precedent were set & help make us feel good & legitimize that our govt/‘democracy’ is ‘working’ for our little monkey brains in that case?

    That said, if you’re enough of a brash idiot & make other real estate guys look bad, this may be a bit like athletes doping or certain kinds of sports gambling; it’s not so much a ‘drug’ or ‘legal’ test per se as it is an IQ test that you don’t do it stupidly or carelessly enough to get caught in such a way as to make the organization look bad?

  7. Idk what the fix is going to be to prop up the commercial real estate market (or hotel/resort market in the days of Airbnb etc).

    Donnie may be kind of a soft target now that the war $ is flowing & things are cooler with Russian investors/he’s less necessary as a pass-thru for money for commercial & resort real estate?
    I think that stuff, along with cruises, probably dies with the boomers until they find the next scam/fix other than just hedge funds & private equity which swallow other kinds of real estate or wait?

    Meanwhile, we all get hosed on electricity rates with PGE & huge server farms sap our hydropower all to keep laborers separated.
    It’s surprising just how much power all this cloud computing crap takes.
    Better than people driving to the office for clerical jobs for sure, but all the other data scraping, entertainment & surveillance…maybe not so much.
    & better hydropower power it than coal/some of the alternatives?


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