• 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.