A CNN panel discussed Monday why an appeals court’s decision to drastically reduce former President Donald Trump’s bail actually gave him a chance to post bail.
The court agreed that block collection of judgement Trump’s civil fraud lawsuit sets a $454 million award, but he only needs to pay $175 million within 10 days. The CNN Newsroom committee said a significant reduction could allow him to ask bond insurers to help reduce the amount. (Related: New York AG Letitia James takes first step toward seizing Trump assets)
“[This is] The fact that CNN’s national correspondent Kristen Holmes won’t have to pay the nearly $500 million he was unable to pay was a huge win. “Mr. Trump’s lawyers have not contacted me at all about whether bail can be posted.”
Sureties typically won’t underwrite bonds over $100 million, Trump’s lawyers argued in court in March. filing. The former president’s lawyers further argued that President Trump could not post the bonds because bond insurance companies strongly prefer cash over real estate.
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“The other thing I would like to point out here is that one of the big frustrations that they had essentially when they approached 30 or so underwriters was that underwriters usually don’t have a lot of money like this for anywhere near $500 million. “They said they wouldn’t accept that amount,” Holmes said. “They said we were telling the underwriters, ‘Okay, we’ll do it for $1 million.’ That’s kind of our ceiling.”
“Now, that gives them a little bit of breathing room, right? $175 million is still a huge amount. It’s a lot more money for what they wanted to do in the first place than the $464 million to $500 million mark. “It’s close to that,” she added. “So now they can go back to some of these places and say, ‘Why don’t you try this?'” He also has assets to add to this. You have 10 days to decide whether or not. ”
New York Attorney General Letitia James on Wednesday claimed President Trump has shown no evidence of inability to pay and has indicated he would obtain bond from multiple guarantors.playing cards claimed He plans to post a reduced bond on Monday, but has not yet said what method he will use to do so.
“He was unable to post this bond and was facing the possibility that the attorney general could seize his assets,” CNN legal correspondent Paula Reed said. “For a long time, his identity has been that of a successful billionaire businessman, his name adorning buildings in this city and around the world. And we’ve talked before about the fact that he has filed an appeal. We didn’t expect a decision to be made today, but here, I mean, this is a huge relief for him, and it’s not a sure thing, but seeing that they made a decision, and seeing that he has this bond. With less than half left, he has 10 days to figure out how to raise this money. So this is a huge relief for Trump. is.”
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