The Donald J. Trump — Live Tweeting/Truths & Discussion Thread (Part 2)

[Coasterbrad]

@realDonaldTrump

VOTE FOR TRUMP, WHAT THE HELL DO YOU HAVE TO LOSE?

This is such a wild campaign talking point, but in Trump world is like the 400th craziest thing he’ll say…today.

[realDonaldTrump]

The Corrupt Political Hacks in New York, Judge and AG, are asking me to put up massive amounts of money before I am allowed to appeal the ridiculous decision. Never done before. No jury, no victim, full disclaimer clause, happy banks. ELECTION INTERFERENCE! WITCH HUNT!

( truth (lol) | raw text )

[realDonaldTrump]

I shouldn’t have to put up any money, being forced by the Corrupt Judge and AG, until the end of the appeal. That’s the way system works!

( truth (lol) | raw text )

[realDonaldTrump]

If I weren’t running for President, and leading by a lot, none of this LEGAL LAWFARE would be happening. ELECTION INTERFERENCE! MAGA!!!

( truth (lol) | raw text )

[pvn]

@Jman220

Legit surprised he hasn’t gotten the money from Vlad. Nothing matters so I doubt him getting the money from Vlad would move his polls at all.

vlad been clipping coupons since the war started

[realDonaldTrump]

ARIZONA, FLORIDA, ILLINOIS, KANSAS, AND OHIO, VERY IMPORTANT TO GET OUT AND VOTE — MAKE AMERICA GREAT AGAIN!

( truth (lol) | raw text )

[realDonaldTrump]

Thank you to Jonathan Turley. A must watch!

( truth (lol) | raw text )

[MrWookie]

[realDonaldTrump]

“Letitia James Turns the Screws on Trump—The inflated $464 million bond required to appeal effectively denies him due process” —> https://www.wsj.com/articles/letitia-james-donald-trump-464-million-bond-new-york-arthur-engoron-fbf1c6dd

( truth (lol) | raw text )

[otatop]

@realDonaldTrump

I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone.

[CaffeineNeeded]

I mean… worstpersonyouknow imo but fuck trump. That being said I know shit about this.

[realDonaldTrump]

https://DonaldJTrump.com

( truth (lol) | raw text )

[goofy]

Heartbreaking: Matt Levine wrote today that the DWAC/Truth Social merger could happen this week and give Trump $4B in stock

[Hired_Goons]

Why on god’s green earth would DWAC/Truth be worth $4B? This world is passing me by. First, @beetlejuice ’s memes, now this.

[goofy]

Think of the stock as representing not the value of a company, but rather conservatives’ ability to put their money on a meme stock that virtue signals “I love Donald Trump”.

[realDonaldTrump]

(video TRUTH)

( truth (lol) | raw text )

[realDonaldTrump]

THANK YOU, OHIO—MAGA! https://DonaldJTrump.com

( truth (lol) | raw text )

[feedthabeast]

Surely there’s a lock up on it, and there’s literally 0% chance anyone takes the stock as collateral. Also even if he can sell, there’s no chance he can market sell 500m worth of stock.

ETA: There’s also a lag in the merger completing, transfer agents getting him the stock, and then funds settling from a sale.

[realDonaldTrump]

THANK YOU, FLORIDA—MAGA! https://DonaldJTrump.com

( truth (lol) | raw text )

[goofy]

Levine on that:

Also, Trump’s shares are subject to a lockup agreement, so he’s not allowed to “lend, offer, pledge, hypothecate, encumber, donate, assign, sell, contract to sell … or otherwise transfer or dispose of” his shares for six months, which presumably covers using them as collateral for a loan (or appeals bond). But the agreement is between Trump and DWAC, and DWAC could just waive it. It is not best practices or anything, as a capital markets matter, to waive the lockup an hour after the merger, but I think it is possible. Ordinarily you don’t do it because shareholders will be mad about additional shares flooding the market, but (1) if he just pledges his shares to a bank, they won’t flood the market, and (2) the shareholders are presumably Trump fans and will be happy to help him fund his legal bills. Probably the stock would go up if they gave him a limited waiver for this.

The other problem is, if you were a bank, would you lend money against those shares? Maybe? Bloomberg’s Bailey Lipschultz reported last month:

“He needs the money but he can’t sell too much at once without risking tanking the stock,” said Usha Rodrigues, a professor at the University of Georgia School of Law. “Once the lockup is expired, he could use the shares as collateral for loans in order to access cash without selling the shares.”

And it’s unlikely a bank would lend him a large sum of money against the locked-up shares, according to industry watchers like University of Florida finance professor Jay Ritter.

I guess I’m a little more optimistic than that, though I see his point. The shares are worth billions of dollars at present market value, but TMTG has never actually made money, and a bank that lends money against a locked-up meme stock is making a risky bet that the shares will still be valuable in six months. A lot can happen in six months! Still, at current prices, that’s a lot of collateral. It’s not an insane bet. You’d want recourse.

Mostly though it seems fitting. Trump was fined $454 million because of his habit of inflating his own estimates of his wealth, basing his estimates on how he feels rather than objective measures like cash flows or comparable transactions. But then DWAC came along and gave him the opportunity to, in effect, turn his celebrity into a publicly traded security.