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Eric Trump says he was laughed at while attempting to secure his dad's $454 million bond (www.salon.com)

submitted 7 months ago by [email protected] to c/[email protected]

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[–] [email protected] 11 points 7 months ago (1 children)

Like literally chubb dogded a bullet lending this money earlier rather than having to be available for the next big payout. If you ask me is a small price to pay for salvation

[–] [email protected] 17 points 7 months ago* (last edited 7 months ago) (1 children)

They still loaned him a fuck ton of money that they sure won’t ever see again. So I don’t know how they dodged a bullet.

[–] [email protected] 31 points 7 months ago (1 children)

Chubb did a fully collateralized bond. Meaning they got something of actual value, not just trump's word. In this case a Schawb brokerage account full of stocks and bonds for (I believe) more than the value of the bond. Plus Chubb probably added a fee on top of the value of the bond to service the transaction. When trump loses the E Jean Carroll appeal, Chubb will hand over cash and sell off the assets in the Schawb account and pocket their service fee.

[–] [email protected] 3 points 7 months ago

Why would they do it this way instead of just directly selling what's in the account? I get that it takes time to unwind stuff like that, but surely it can be done in the time the judge gave?