Overcomes financial pressure – The New York Times

Donald Trump has 10 days to post $175 million bail in his New York civil fraud case. After that, he could have to pay the entire fine in this case: almost half a billion dollars.

Could this situation affect his presidential campaign? Yes it's possible. I'll explain how to do this in today's newsletter, answering four questions from The Mornings staff.

What are the basic details of this case?

New York Attorney General Letitia James sued Trump and the Trump Organization in 2022. She accused them of committing widespread fraud over a decade by inflating property values, sometimes as much as $2 billion a year. year.

The net effect, James said, was essentially that Trump was able to obtain loans and insurance policies at more favorable rates than he was otherwise entitled to. A judge agreed and ordered Trump to pay $454 million, the equivalent of his total ill-gotten gains, plus any interest he allegedly paid. Trump insisted that because his lenders had not been stiffed, there had been no casualties and that he considered the ruling corrupt.

Yesterday, an appeals court said the state would accept a much lower bond, $175 million, while it considered whether to uphold the judge's findings.

Trump tried, but failed, to offer a $454 million bond before the appeals court intervened Monday. Is it likely he can get the smaller bond?

Trump told reporters Monday in Manhattan that he would be able to post bail. There is no independent way to verify that he has sufficient liquidity, and if he decides to seek an outside company to provide the bond, he will still need to provide a large amount of cash and other investments as collateral to guarantee it, and in a short time.

However, the amount is less than half what it was before, so it will almost certainly be easier now. And some legal experts view the appeals court's ruling as evidence that the court can reduce the $454 million judgment set by Judge Arthur F. Engoron.

Trump's legal problems are serious. So far, however, they do not appear to have affected his 2024 campaign. He became the presumptive nominee in a rout. Why might this case be different?

This case goes to the heart of his identity and public image, unlike criminal cases. The risk of having his bank accounts frozen, or even one of his assets seized, affects him psychologically and immediately. That's part of why he insisted that reducing bond requirements was a victory.

Trump was in another courtroom in New York yesterday, where a judge set April 15 as the start date for Trump's criminal trial, accused of falsifying business records to hide secret money payments in the 2016 election. Even if he is convicted in this case, he is unlikely to be sent to prison before Election Day. Additionally, the question of how he ran his business, by James' account, is likely to become a political stick for President Biden's allies. For his part, Trump describes it all as overreach by his political opposition.

What should people pay attention to now?

The appeals court will likely take several months to review Trump's fraud judgment and punishment, based on what it said Monday. If they uphold this decision, then Trump will have to hand over nearly half a billion dollars. Otherwise, he will paint this as an attack on an overzealous judge and attorney general.

Trump's social media company, which runs Truth Social, reached a deal last week to become a publicly traded company, and it remains an open question whether he will attempt to use his stake in that deal to acquire a obligation to another company.

For now, Trump's reprieve in the civil fraud case is temporary.

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Plastic: Restaurants are full of fake flowers. Meet a responsible man.

Aging: To live beyond 100, eat less, says an Italian expert who believes false fasting is the key to longevity.

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The big read: Bill Ackman is a hedge fund manager who became famous on Twitter. He now wields even more power.

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