🚨 Trump gets SURPRISE bad news in New York trial

you're watching the legal breakdown so

Glenn we found out a few days ago that

Trump was able to make bond in the New

York fraud case for $175 million but now

it looks like the actual bond company

may not be qualified to give him that

Bond so what happened here yeah not so

fast Donald it looks like AG Tish James

may be able to begin seizing his

property yet but it's an open question

so what happened is this um 80-year-old

billionaire uh don hanky is his name

head of the hanky group I don't know if

he has a partner named Panky but Hanky

Panky seems like it might be appropriate

given what we're learning so he is the

person who is is providing the bond or

the shity he's insuring the $175 million

for Donald Trump Well turns out he's not

authorized or licensed to post chity

Bonds in New York right of course Donald

Trump is doing business with somebody

who's not really authorized to engage in

the kind of business he's trying to

engage in so AG James has filed what's

called a notice of exception she's

lodging her disagreement or taking

exception with the shity bond that's

been posted and she is requesting more

information for example does this hanky

group the name of the company is

technically um night specialty and Don

hanky reportedly uh is a billionaire

courtesy of among other things um being

involved in subprime loans that are

given on cars at very high interest

rates and then he apparently was

repossessing as many as 250 cars a day

at one point sounds like that's how he

came into a good bit of his fortune yeah

in other words the exact kind of person

you would imagine Trump getting into

business with exactly so AG James has

requested more information she's she's

filed a notice of exception and judge

engoron has set a hearing on on this

issue on April 22nd and it looks like at

that time uh don hanky may be required

to disclose information about things

like whether he has sufficient cash on

hand to cover the

$175 million bond that he has issued um

and also if he doesn't have the cash on

hand what kind of collateral might he be

accepting from Donald Trump to secure

this Bond so it sounds like come April

22nd we're going to begin to get some

more information about the nature of

this Bond and whether it's something

that's actually acceptable to both AG

James because she's protecting the

pecuniary interest of the people of New

York she wants to make sure that you

know the the state of New York is able

to collect on the Judgment that was

issued against Donald Trump and whether

judge en Goron approves this Bond

Arrangement Glenn does the does the

court have the ability to have the

insurance company prove that they have

the means to cover Trump if he loses the

appeal you know it's a really um

interesting area of the law there's not

a lot of precedent on this issue this is

not the kind of thing that gets appealed

and then appell at courts are resolving

these kind of issues and filing opinions

that become precedent that everybody can

follow um but there are a lot of sort of

experts in this specialty in the area of

bonds that have to be posted for large

money judgments in civil cases I was I

am not an expert in that area Brian but

I was trying to read up and learn as

much as I can one of the experts in this

field said that ordinarily if a company

is going to issue a bond they should

only issue a bond for about 10% of the

Surplus cash they have on hand so the

next logical question is you know uh

hanky's company how much Surplus cash

does it have on hand well according to

some of the most recent reporting night

specialty hanky company has about $138

million cash on hand I'm no

mathematician but 10% of that would be

about 13 or4 million and yet they've

issued a bond for what $1

175 million doesn't sound like best

practices to me so yes I think all of

this will be fair game for Tish James to

inquire about for judge en Goron to then

um hold this hearing perhaps um ask for

sworn testimony from uh this Don hanky

or whoever it is that you know can

provide information about whether this

company is sufficiently solvent

sufficiently liquid that it you know

it's that it can responsibly and

appropriately issue this Bond to Donald

Trump okay well I mean first of all if

the reporting is correct and they're

liquid to the tune of about $130 $140

million then they would be staking their

entire business on Donald Trump and

still wouldn't be able to cover the

entire cost of the bond so if it turns

out that night specialty insurance

company is not Solen enough to cover the

losses if Donald Trump loses appeal what

would happen next uncharted waters but I

can give it my best guess um so remember

how you know the appell Court just sort

of gratuitously out of thin air reduced

the amount that Donald Trump had to put

up um from $464 million almost half a

billion dollars to $175 million without

explanation without Authority and

without analysis I think Justice is

still licking its wounds from that one

and they extended by 10 days the

deadline for Donald Trump to put up that

poultry amount of 175 million that they

reduced it to I suspect if there is a

dispute and a hearing that um determines

judge en Goron rules that no this Bond

issued by KN specialty is not going to

cut it he would probably give Trump

another 10 days would be my best guess

to come up with another insurer another

bondsman who's willing to put up a bond

appropriately that is backed by

sufficient assets and then at the end of

that 10-day period Well we are back to

seeing Tish James begin to seize Donald

Trump's property to satisfy the Judgment

yeah that was going to be my next

question whether you think he's going to

get the full 10 days to seek a new Bond

or if it's going to be kind of one

strike and you're out because he did

have the ability to find a company that

would be able to satisfy this bond

amount if it turns out that Knight

specialty insurance company isn't

solvent enough to do it then then

couldn't the argument be made that he's

already had this opportunity to do it

and he came up short

absolutely but when has Donald Trump

ever gotten just one strike before

accountability visits him he gets more

than three strikes he could be at bat

for a full day swinging away and never

making contact with a dang ball and it

seems like whether it's you know an

unlimited number of violations of gag

orders or an unlimited number of delays

in his criminal cases you know nobody in

a position of author Authority ever

seems to say you're out Glenn Trump has

come out and claimed uh based on this

very court case that uh that he won

appeal in this case and that judge and

Goran didn't accept the appeals Court's

ruling and that and Goron has gone Rogue

those were his exact words can you

respond to that yeah this is uh Donald

Trump living in his own little fictional

World there were some um there were some

modifications by the appell at court of

some of what judge en Goran had done but

judge en Goron adjusted accordingly he

didn't thumb his nose at the appell at

court that's more you know keeping in

line with how Donald Trump does business

and how some of his lawyers seem to do

business so this is Donald Trump's

fantasy world that he is forever pushing

on his base on his supporters you know

he's only able to fool the gullible but

he's able to fool them over and over and

over again and I think that's what these

claims are a product of and I think

what's worth pointing out to this point

is that Donald Trump knows better he

knows that he hasn't won appeal that

this case isn't even going to go to a

full appeal for probably another 6

months to a year and even if he doesn't

know he presumably has lawyers that are

smart enough to recognize that this case

hasn't gone to appeal but despite the

fact that he knows better he's still

perpetuating this Con on his own

supporters because he knows he can

exploit them he knows he can fool them

that's how much contempt he has for the

very people who are gullible enough to

your point to trust the guy and so like

you think that you know when when Trump

walks around attacking Democrats all day

that he has contempt for them the real

people he has contempt for the people he

show nothing but pure unadulterated

hatred for is his own supporters because

he comes out and just manipulates them

and exploits them and lies to them on a

daily basis and they just gobble it up

Brian in many ways the people who suffer

the most are Donald Trump's own

supporters they continue to empty their

pockets and most of them are not exactly

wealthy high dollar donors but you know

they're fooled by Donald Trump over and

over and over again the Democrats aren't

sending Donald Trump money now you know

they may have to suffer under Donald

Trump's policies when he was president

the first time and certainly we would

all suffer mightily if he ever made his

way back to the Oval Office but you know

I always try to sort of retain a healthy

dose of empathy for Donald Trump's

supporters I know it's hard and you know

I try at every opportunity to talk

across that divide as frustrating as it

can be because these are some of the

people who are suffering the most their

lives are not being made appreciably

better by any Trump policy and yet

they're also on top of that emptying

their pockets and sending him5 10 $20

over and over and over again and

according to the reporting they are

inundated with emails and text messages

saying give me more give me more give me

more and they often respond by giving

him more you know in America I I've

always said it's not us and them when it

comes to Americans it's just us

different kinds of us different flavors

of us um people with different

priorities ideologies but still it's all

us and I think we have to get back to

trying to treat everybody you know

understanding how everybody is suffering

the people who really care about the

rule of law and allegiance to the

Constitution and accountability are

suffering and the people who don't care

about that so much are still suffering

at the hands of Donald Trump so

hopefully come November we can you know

pull ourselves out of this morass this

Quagmire that Donald Trump and the

Republicans have put us in and make life

a little bit better for everybody

including the people who are perhaps

suffering most at the hands of Donald

Trump and you know he's a particularly

Insidious creature when it comes to

being able to exploit those very people

I mean his entire life has basically

been just a monument to being able to

screw people who believe him you know

who are who are gullible enough to

believe him I mean you look at you look

at everything from Trump wine Trump

casinos Trump uh uh Trump water Trump

Stakes Trump vodka Trump University was

a fraud I mean now you have these nfts

these shoes uh um Trump media which

right now is just is just on a downward

descent and so he uses his platform he

uses his words he uses his Charisma to

try to get these people you know people

again who who he's conned into believing

him to hand over their money and he does

it on a on a on a constant basis and at

the end of the day they're the ones that

are being screwed I mean he's the one

who presented himself as a fake populist

here and what did he do what was his

only major legislative accomplishment

when he was in office it was a tax cut

for Millionaires and billionaires that's

what he did he came out and said that he

wanted to help uh that he wants he said

his exact quote was he wants to be

greedy for the country he's he's rich

and so now he he used to be greedy for

himself now he wants to be greedy for

everybody else at the end of the day

what did he do he was greedy for the

very people who donated to his campaign

and nobody else and the way you know

that the way that you know that that tax

cut didn't actually help the middle

class is that just before midterms as a

as a little carrot to dangle he told

them okay well if if uh Republicans

maintain control of Congress then we'll

pass a middle class tax cut and so if if

middle class Americans had already

benefited from the initial tax cut that

he passed why would we need a middle

class tax cut if Americans are already

benefited from uh from a health care

plan that he had put forward why would

we need a healthcare plan that he was

promising if Americans had already

benefited from some infrastructure

package why would he need to promise

that stuff he never actually went

through with any of it it was all just

carrots that he was dangling for people

that were gullible enough to believe him

yeah we should never lose sight that it

is his base and his supporters who

suffer as much and in some ways more

than the rest of us and he has made

their lives no better but what he gives

them is he says your life may suck but

at least you're not black at least

you're not an immigrant at least you're

not gay those people immigrants he's now

taken into calling animals those people

are so beneath you that you should feel

better about yourself because you're not

them he gives them permission

encouragement even to hate the other and

for some people that at least gives them

some status in the eyes of Donald Trump

at least I'm not those people all the

while Donald Trump is picking their damn

Pockets right I mean that that was

perfectly put I think as long as as he

makes sure to train their eye on the

other people to your exact point people

of color gay people immigrants trans

people whatever it is anybody anybody

who he can punch down on as long as he

can train those people's ey whether it's

whether it's you know uh uh Financial

insecurity whatever it is if he can

focus them on somebody else some other

group and make them the root of all of

of their problems then he's happy and

then those people aren't training their

attention on the true problem which is

people like Donald Trump who use their

positions of power uh to pre on on those

who are weaker than them and so I think

that's what we're seeing right here so

uh with that said we'll of course stay

on top of whatever happens with Donald

Trump's prosecutions as they move

forward uh including whatever happens

with this uh the shy Bond and whether or

not it's accepted as part of the New

York fraud case that's happening right

now so with that said Glenn and I will

continue to cover this stuff if you want

to follow along please make sure to

subscribe the links to both of our

channels right here on the screen I'm

Brian Tyler Cohen and I'm Glenn kersner

you're watching the legal breakdown

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