Tr*mp's Financial Hell Through Automatic Defamation Judgments
A math/legal nerd post, with profound implications
I don’t write about politics much here on The Frontier Psychiatrists. I do muse about the law. That is what today’s post is about. It's actually a math nerd/legal Mashup. I have an interest in defamation cases, especially in the state of New York. The D*nald— he’s setting legal standard after legal standard!
Let’s start with why civil action in New York State can be so brutal, financially—interest on civil fraud accrues from when the fraud was committed. Which means that the big D has 9% (by law) interest due on his verdict already. The appeals process is open to him, but he has to pay judgments into escrow to even go through the appeals process. And in New York, the Sheriff can Seize Assets. It is hard to hide Trump Tower, for example.
With the interest on his civil fraud case, brought by AG Letitia James, the actual amount he needs to pay into escrow is around $450m on that matter alone.
This is what interest on 9% looks like compounded monthly…
Thanks, US Government websi…