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Cairn Horn88

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According to MSNBC this morning, the moron sent out 77 "truth" social tweets yesterday.  Seventy-fucking-seven.

Apparently, number 77 was Jack Nicklaus "awarding" him his club championship trophy.  Jesus fucking Christ. 

 

Edited by DigglerontheHoof
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Which is extra impressive when you consider how long Easter church services are plus spending endless hours with his grandchildren.  That thing grand-dads do on Easter.  

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Yeah, for such an ‘alpha male’ energy type; the guy spends a lot of money to bitch and complain about how mean people are being to him.  He’s like the Rex Kramer of politics.  

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3 hours ago, DigglerontheHoof said:

According to MSNBC this morning, the moron sent out 77 "truth" social tweets yesterday.  Seventy-fucking-seven.

Apparently, number 77 was Jack Nicklaus "awarding" him his club championship trophy.  Jesus fucking Christ. 

 

He's trying to tweet his age. 

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3 hours ago, YGIFS said:

Which is extra impressive when you consider how long Easter church services are plus spending endless hours with his grandchildren.  That thing grand-dads do on Easter.  

Gotta admire his energy, he likely squeezed in a cognition test in there as well.

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10 hours ago, Horn Dog said:

As a Christian this doesn’t bother me at all.  What does upset me is all those trans people wanting equal rights and ruining the sanctity of the holiest of days.

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14 hours ago, Hookah Horns said:

If the good guys win and MAGA is defeated, and our national politics return to some semblance of normalcy (a huge if), it's going to be absolutely insane to look back on Trump years from now. If we lose shit will just get worse, though perhaps never quite as bizarre as the Trump era. 

Either way, there are going to be a shitload of Trump movies and shows coming out for years. 

Mel Gibson is probably salivating about doing a Passion of Christ type tribute to Trump.

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24 minutes ago, Biff Tannen said:

I wanted to.  Never shorted a stock in my life.  This was free money.  Yet another failure on my part to get in on the grift.

Something tells me we'll get another shot. It's not BK yet.

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23 minutes ago, Surly Bevo said:

Bond was covered by insurance company out of California.

Knight Specialty Insurance Group, can't say I've ever heard of them, though if their website is anywhere close to accurate they are gigantic.  From just glancing around, they are big in the reinsurrance market, which I'll be honest, I really don't know anything about at all.  

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Someone probably explained this but how does this bond work? I get how a criminal bond works where the court keeps the money until you appear and if you do then they refund it. What happens here? If Trump loses his appeals does the bond company forfeit the money it put up and then have to go after Trump for it?

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8 minutes ago, The Dog said:

So someone who Trump already owes a lot of money to just got him even more over a barrel.

So Axos may have had a choice, lose $175 million against book value right now, or potentially more on liquidated property right now.  They may well still lose the same amount a few months from now, but at least for now they are able to kick the can down the road a bit.  

Do I have that right?  

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1 minute ago, Sawbonz said:

Someone probably explained this but how does this bond work? I get how a criminal bond works where the court keeps the money until you appear and if you do then they refund it. What happens here? If Trump loses his appeals does the bond company forfeit the money it put up and then have to go after Trump for it?

Yup.  That's why they're typically 100% secured with liquid, foreclosure-free assets.

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3 minutes ago, BamaATL said:

So Axos may have had a choice, lose $175 million against book value right now, or potentially more on liquidated property right now.  They may well still lose the same amount a few months from now, but at least for now they are able to kick the can down the road a bit.  

Do I have that right?  

If they took his stake in a property they hold the note on as collateral if he loses they get the whole property. 

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3 minutes ago, BamaATL said:

So Axos may have had a choice, lose $175 million against book value right now, or potentially more on liquidated property right now.  They may well still lose the same amount a few months from now, but at least for now they are able to kick the can down the road a bit.  

Do I have that right?  

Possibly.  An execution-style foreclosure can be an even bigger clusterfuck than a mortgage foreclosure, so pushing that off could have some value.

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5 minutes ago, TexasEd said:

If they took his stake in a property they hold the note on as collateral if he loses they get the whole property. 

The question with that would be is the bond is less than what they stand to lose against the building(s) if liquidated.  This may well be a case of either way we are screwed, but this is better for us sort of thing.  If they take control after the fact it opens options for them down the line.  

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1 hour ago, BamaATL said:

Knight Specialty Insurance Group, can't say I've ever heard of them, though if their website is anywhere close to accurate they are gigantic.  From just glancing around, they are big in the reinsurrance market, which I'll be honest, I really don't know anything about at all.  

Did a Summer job for a reinsurance company in Austin back when I was in undergrad. They deal with amounts of money that are staggering.

Basically, the way it works is... if you want to insure something huge, like an entire resort complex, no single insurance company can afford to insure the whole thing; if it goes down, it'll take the company with it.

So a primary insurer takes, say, the first $1M worth of claims. They're responsible for everything under that. Then, they sell the rest of the value of the thing to reinsurance companies. The next $1M-$50M will be held by another company; the next $50M-$200M by another, and so on until the whole thing is covered. The reinsurance companies cover more of the value, but pay fewer of the claims, and the risk is managed by being covered by a bunch of companies.

To give you an idea of the kind of money they deal with -- and remember, this is back in the 1990s -- hear this true story.

It's late July. I'm helping one underwriter (let's call him Andy) with a printer issue, and another underwriter comes in (let's call him Bob) because he lost $75M on a claim. Bob is whining that the owner is going to fire him over it, while Andy's reassuring Bob that he did the numbers right and that these things happen. Bob meanders off, and Andy turns to me and says, "He's being modest. He could lose that much every day for the rest of the year, and still come out ahead."

That's one underwriter, in late July, who could lose $75M every day of the year and would stll be ahead. At 1990s prices.

They deal with amounts of money that are staggering.

1 hour ago, 'stache said:

All it means is that he’ll actually have to pay when he loses his appeals. Makes it a lot easier than trying to collect the hard way.

No, it means Knight will have to pay.

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1 hour ago, 'stache said:

All it means is that he’ll actually have to pay when he loses his appeals. Makes it a lot easier than trying to collect the hard way.

Well only the bond amount. Court reduced bond to about 1/4 of the judgment. 

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4 minutes ago, jimmyjazz said:

But, people believe Trump anyway, and the media mostly just sits on its hands.

In our modern media landscape, truth can always be defeated by a firehose of falsehoods. And by golly, that's trump's signature move

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