• partial_accumen@lemmy.world
    link
    fedilink
    arrow-up
    9
    arrow-down
    1
    ·
    6 months ago

    and then he will have to pony up the cash.

    …or E Jean Caroll will be paid by the Chubb Group who issued the bond.

    • chiliedogg@lemmy.world
      link
      fedilink
      arrow-up
      1
      ·
      6 months ago

      Bonds aren’t insurance policies. They’re guarantees that the full amount will be paid to those owed the money. In the end, Trump will still have to pay if he loses the appeal. If Chubb has to pay instead, they can start seizing and selling Trump assets to cover the full value of the bond.

        • chiliedogg@lemmy.world
          link
          fedilink
          arrow-up
          3
          ·
          6 months ago

          Trump’s gonna pay. It’s just a question of whether he’ll pay directly or try to stall again and end up having one of his building seized by Chubb.

          I know which one I’m rooting for.

          • partial_accumen@lemmy.world
            link
            fedilink
            arrow-up
            1
            ·
            6 months ago

            Sadly Chubbs bond was backed by a Schwab account of assets as collateral. So stocks and bonds, not real estate. Chubb shot down accepting any Trump real estate as collateral.