Fox’s Gasparino Says Billionaires Aren’t Helping Trump Post Massive Bond Because ‘Donald Doesn’t Have a Great Record at Paying Back’ Loans
Senior Fox Business Correspondent Charlie Gasparino said it’s not exactly a mystery as to why no billionaires are helping Donald Trump post a $454 million bond.
Lawyers for the former president told a New York appellate court on Monday that despite contacting more than 30 underwriters, none were willing to post the bond while Trump appeals the $454 million civil judgment against him handed down last month. Trump is seeking to appeal, but must post the bond, which is due Monday. If he fails to do so, New York Attorney General Letitia James, whose office tried the case, may begin seizing Trump’s assets – including prominent real estate holdings such as Trump Tower.
Appearing on Tuesday’s Your World, Gasparino said Trump’s team is still trying to find an underwriter
“They’re continuing to talk to banks and insurance companies to try to get that bond, to get it at a reasonable amount of money that he could put up,” he told host Neil Cavuto. “As of yet, none of his billionaire friends are ponying up money from what I understand. I’ve been asking them. I mean, there are a lot of them.”
“What is behind the reluctance?” Cavuto asked. “Are they afraid that they might now see it anytime soon – the money, if even he succeeds on appeal?”
“Just generally, Donald doesn’t have a great record at paying back banks over the years,” Gasparino answered. “So, you can sort of surmise from that what you will… You gotta ask yourself why they’re not throwing him some bucks now.”
Cavuto suggested that would-be patrons of Trump worry about retaliation from James’ office.
“Or maybe they’re afraid of retribution from Letitia James’ office,” he said. “And the better part of valor is to stand back.”
“That’s a good point,” Gasparino replied. He then noted that if James does seize Trump’s properties, determining their ownership stakes could prove difficult.
“Trump’s properties – if he has to turn them over to her because he does not have the cash for a bond – are encumbered by a lot of weird stuff,” he added. “Partnerships, limited partnerships, you know, there is a thought here in Trump land, ‘Let’s give her the properties and let this genius figure it out about unwinding these things and figuring out which part of these buildings is Trump’s and which part is a limited partnership that isn’t Trump and, you know, let’s see if she can figure that out.”
Watch above via Fox News.
