Trump lawyers make the announcement Trump's been dreading

you're watching the legal breakdown so

Glenn we've got major news here it looks

like Donald Trump cannot find a company

willing to underwrite his half a billion

dollar judgment to the court in that New

York fraud case what happened here so

Brian we're seeing now the sort of final

stages of the financial demise of Donald

Trump and it's not being greatly

exaggerated so this is his last ditch

effort to try to convince an appell at

court in New York to not make him either

pay the full amount of the half a

billion dollar money judgment that was

entered against him in his New York

civil fraud trial or put up a bond

securing the full amount he's

desperately begging the court to to not

have to do that in order to appeal the

case the problem is it looks like

there's not even a procedure in New York

state um under the laws applicable to

this issue for the appell at court to

sort of do this favor for him and in

fact in this brand new court filing from

Donald Trump his lawyers say listen we

recognize that attorney general Leticia

James says the appell at court in New

York doesn't even have the lawful

authority to do what we are asking it to

do to kind of save us from Financial

ruin but we're asking them to do it

anyway and not to turn this into a legal

breakdown law school class Brian but

when you read through this is a

4,919 page filing albeit most of it is a

bunch of attachments some of which are

unnecessary but when you dig into the

body of this court filing Donald Trump

cites federal case law supporting his

proposition that the appella court can

do this if it wants here's the problem

he's in New York state court and he

can't come up with any New York state

court cases so what's going on in this

legal filing perhaps not surprisingly is

a little bit of bait and switch that's

why I say Brian it looks like we are in

the final stages of the financial ruin

of Donald Trump which raises the obvious

question here what happens in the event

that Donald Trump can't get the

money that's easy Leticia James uses the

lawful procedures of New York to start

seizing his stuff his properties his

real estate holdings any liquid assets

he might have you know it's an open

question uh as to how much cash on hand

he has I'm betting it's almost zero

maybe that's why he had to try to

Commander the RNC because he needs to

find a new pot of money to you know pay

his massive legal fees end his money

judgments um but the reality is it's not

all that unusual for uh once a civil

case has been resolved by a jury and one

party loses and is ordered to pay the

other party the damages it's not that

unusual for the winning party to get to

start seizing the assets of the losing

party to satisfy the money judgment the

only thing unusual here is the amount

but it's really interesting if you read

through the first 20 Pages or so of this

court filing it's clear that nobody will

do business with Donald Trump he says

look we went to 30 shity companies we

went to the largest insurer in the world

and nobody will grant us a bond he tries

to play it off there's there's so much

bait and switch going on in this new

court filing he tries to say well that's

because so many of these companies won't

accept real estate non-liquid assets as

collateral but then later on in his own

Court filing he says well sure there are

a number of insurance companies who who

who don't require liquid assets so he's

kind of all over the map but what's

clear Brian is he ain't no billionaire

you know think about this Elena Haba his

lead lawyer who went down in flames in

the New York civil fraud trial together

with his other lawyer Christopher kais I

think they may be co-leads recently she

gave an interview she said Donald Trump

is worth $4 billion think about that

representation that would mean that this

half a billion dollar judgment that he

can't even secure so he can appeal his

case represents

128 of his asserted value and so if Le

Elena Haba was being accurate and

truthful I would think insurance

companies would be beating down Donald

Trump's door because they would say

that's just

128 of the entire value of your assets

we're happy to do business with you

because insurers get about 2% of the

amount that they are guaranteeing or

putting up a bond for in commissions so

they're going to make a whole big chunk

of change off Donald Trump problem is he

ain't worth no4 billion dollar he may

not be worth $14 million at this point

so we are really seeing the end of the

financial Road for Donald Trump and all

the while is is he still incurring

interest on this amount which kind of I

I I believe would to like $100,000 per

day every minute of every day interest

is ACR it's piling up and you know

really all it comes down to now Brian in

my opinion is um how much of Donald

Trump's real estate holdings will

Attorney General James have to seize in

order to satisfy the entire money

judgment and why might the real estate

assets not be adequate collateral for

Laticia James probably probably because

of the value of the real estate assets

when I say value I'm talking about two

things one uh it has to be unencumbered

what does that mean there does there

can't be these big old mortgages that

are encumbering the value of the real

estate assets that's one two what are

his real estate assets even worth and

there is a shining example of how Donald

Trump continues to overin

the value of his real estate holdings I

I would like to say I was surprised to

see this in a new court filing um but I

guess I'm really not all that surprised

let me read it first and then let's talk

about it he says right up front on page

two because he can't help himself he

says that the judge in the New York

civil fraud trial quote

ridiculously valued Mara Lago as being

worth between1 million and $27.6

million understanding that its actual

value was about is about 50 to 100 times

that so it's worth billions and billions

and billions of dollars and yet no

insurance company will use it as

collateral to secure a bond all of this

and Brian I know Donald Trump can't give

up the con I know he can't give up the

lie but to see him to continue to put

these lies into court filings in a case

where he has to pay a massive money

judgment because he fraudulently

overvalued the assets that he had is

just mindboggling and let's never stop

looking at this against the backdrop of

the fact that the Trump organization his

company right it it Bears his name he

ruled it with an iron fist um that

company was found guilty in a criminal

trial of 17 counts of being involved in

a first-degree criminal fraud scheme

over the course of 15 years I mean the

fact that Donald Trump continues to lie

both in and out of court about the value

of his assets is just it's mindboggling

and so what are what are next steps now

in terms of whether or not the judge is

going to allow for any of these uh

completely baseless uh exceptions to his

being able to pay so I think Brian the

next step is Donald Trump can still file

an appeal of the Judgment in the Civil

fraud case that he lost however he's

going to have to either deposit the full

amount of the Judgment more than a half

a billion dollars into the Court's

escrow account it's pretty clear based

on this pleading he doesn't have it or

put up a bond to secure the full amount

and in this court filing he said I can't

do that we have tried and nobody will do

business with us nobody will issue a

bond for the full amount um but he can

still file his appeal but Tish James

gets to start seizing his stuff promptly

while the appeal is pending in the

appell courts of New York that's it so I

do believe you know if I was betting my

$1 which is my betting limit I would put

it on tis James now employing the

procedures of the the court of New York

to begin seizing his properties all

right well it' be nice to see uh when

the day comes where they start peeling

the letters off of Trump Tower and

replacing them with what what whatever

uh whatever new branding that that place

has uh obviously we'll stay on top of

this as soon as we have any updates in

terms of whether or not Donald Trump is

able to figure out how to pay this

settlement here um so for those watching

right now if you want to follow along

please make sure to subscribe the links

to both of our channels are right here

on the screen I'm Brian Tyler Cohen and

I'm Glenn kersner you're watching the

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