In recent weeks, Donald Trump has been crushed by two civil suit losses in court, totaling more than $500 million.
Trump found out this week that the settlement for the E. Jean Carroll case must be paid in full, and he is running out of time.
Talking Points…
- Trump loses two major court decisions
- Trump ordered to pay by deadline
- Analysis
As most of you already know, New York Attorney General Letitia James won her civil suit for fraud against Donald Trump. The ruling was staggering, with Trump being hit with a fine of more than $350 million, which was closer to $450 million by the time taxes, fees, and penalties were added to the award. On top of that, the interest on the fine was accruing at roughly $100,000 per day. All of which Trump needs to pay within 30 days of the decision or he could forfeit his right to appeal.
On top of that, about a month ago, Donald Trump was ordered to pay author E. Jean Carroll $83.3 million in a defamation suit. Again, Trump had only 30 days to pay the ruling. Trump appealed the ruling for immediate payment, hoping to have the judgment tabled until after the appeals process played out.
As one would expect, the judge did not rule in favor of Trump regarding the delay of payment in the E. Jean Carroll case, so Trump now only has until Monday to make the payment or post bond for the full amount.
In rejecting Trump’s appeal to have the judgment tabled until after the appeals process is over, Judge Kaplan stated:
"Mr. Trump's current situation is a result of his own dilatory actions.
“He has had since January 26 to organize his finances with the knowledge that he might need to bond this judgment, yet he waited until 25 days after the jury verdict."
Kaplan concluded:
"Accordingly, his present application for a temporary administrative stay is denied."
Trump Spokesperson Steven Cheung responded to the ruling:
"President Trump filed a timely motion to stay the ridiculous judgment, and many courts, including the Second Circuit, recognize the importance of temporary administrative stays while such motions are considered.
"We look forward to continuing to litigate the case and to complete vindication of the Truth."
Over and above these rulings, Donald Trump has also been ordered to pay legal fees for the company behind the Steele Dossier to the tune of $382,000, adding more to the ever-growing burden of court judgments. Even if Trump posts bonds for these judgments, he will still be out-of-pocket close to $100 million, and that is if he wins his appeal.
The Trump campaign and his PACs are already cash-strapped from paying the legal bills of Trump and his children over all the legal matters against Trump. He has less than $30 million on hand for the actual campaign, but that number is likely to go down even further after the next round of legal bills are paid.
This has put both the RNC and the Trump campaign in a very bad position heading into the general election, with Biden having roughly four to five times as much cash on hand as Trump’s campaign. Biden can crush Trump in advertising spend, and we all know elections are generally won or lost by how much a candidate spends on the campaign.
