In a recent statement, MSNBC host Joy Reid stated that former President Donald Trump is currently facing financial difficulties and is desperately seeking funds to cover his massive $454 million appeal bond. Reid claimed that Trump is essentially broke and resorting to begging for money.
On her show “The ReidOut” on MSNBC, Reid started by stating some undeniable facts. She proclaimed, “Let’s face it, Donald John Trump is in dire financial straits and is now desperately seeking financial assistance.”
She went on to say:
He owes New York state roughly $454 million and the deadline to put up a bond if he wants to appeal, or a deposit on the debt, is Monday. If he fails to do so, New York Attorney General Letitia James can move in on Trump’s bank accounts or real estate. His lawyers, paid for by the RNC, are telling the court that he doesn’t have the money, which leads us to another fact. Trump has for decades lied about his wealth and about the valuation of his properties. He also has a history of not paying back his loans, and so most self-respecting financial institutions and wealthy individuals don’t want to take a chance on him. Too risky. And here’s another fact: no bonding company will accept real estate, which accounts for most of Trump’s wealth, as collateral.
According to Reid, Trump, who was often mocked by the media for his numerous bankruptcies in the past, is not contemplating taking that approach this time. Despite it being the most effective way to halt the payment obligations, pride is the reason why he is not considering it.
In her closing remarks, she expressed her belief that Donald Trump lacks the financial means to fulfill his judgment and is currently unable to find any assistance. Consequently, he finds himself in a position of having to solicit funds. In her opinion, these circumstances do not align with the characteristics of a strong candidate.
In a fiery rant on Truth Social, Donald Trump vehemently protested, stating that it was simply implausible for bonding companies to lend him such an astronomical sum of money.
According to Trump, selling assets before winning the appeal would result in permanent loss of those assets. He also emphasized the high cost of putting up money before an appeal. Trump believes that if he were to win the appeal, all the money spent would be wasted, and he would not have done anything wrong.
According to Senior Fox Business Correspondent Charlie Gasparino, Donald Trump has a history of not paying back banks. Gasparino suggests that this could be a reason why banks are not willing to lend him money currently.
Gasparino also admitted that there may be some billionaires who are concerned about potential repercussions from the New York attorney general if they were to assist Trump in any manner.
