Somehow, I stumbled upon the video shown below, and oh what delicious news it delivers!
Apparently, the bond issuer chosen by Donnie DumbQuips (Knight Specialty Insurance Company) originally considered underwriting the entire $450M+ obligation set as a requirement for Trump to deliver to the NY courts before he would be allowed to appeal the verdict handed out to him in the civil suit filed against him by Attorney General Letitia James.
While this may not be news to many of you, it appears that Knight encountered a yuuge surprise in their negotiations with Trump prior to agreeing on the package ultimately submitted to the court. Apparently, they recognized that Trump did not have sufficient cash on hand (yawn, old news) to serve as collateral for the bond, and hence started doing some due diligence of their own to assess the value of properties Trump considered putting up as collateral.
A-ha-ha-ha … a-ha-ha-ha-ha! Imagine their reaction to making their own determination that Mired-In-Lardo had a market value nowhere near the ridiculous numbers proclaimed by Trump. Most of us will recall having heard something about the detail that put such a lump in their corporate throat.
Turns out, their own assessment — while attempting to do Donald a solid — was that the effect of the property being zoned for use as a club only, while prohibiting its use a a single family residential complex, took a huge bite out of the fair market value of the property.
When a Trump-supporting billionaire refuses to get swindled by the fraudulently-claimed value Trump assigns to the property — in a case where Trump has been convicted of multiple counts of exactly that kind of fraud, my only reaction is: A-ha-ha-ha … a-ha-ha-ha-ha!