Trump's Latest Legal Argument Reveals He May Be Broke

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Donald Trump argued to a judge this week that he has too much money to have to be forced to pay a bond in the E. Jean Carroll defamation case. In order to file any post-trial motions, including an appeal, Trump has to put a significant portion of the verdict against him in a bond, but he thinks that this is insulting because obviously he has the money to pay the full amount. If that were the case, he'd have no problem putting up the money, as Ring of Fire's Farron Cousins explains.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Donald Trump submitted a filing in court this week trying to argue that he is so rich that he should not have to pay a bond as he waits to appeal the verdict in the E Jean Carroll defamation trial. Now, this is a very interesting argument, right? I mean, Trump is out there telling the judge, telling the lawyers on the other side that I've got so much money that you don't have to worry about me paying if I lose because I've, I've got so much money, which of course is not how these things work. In a civil trial, it is very common for a requirement of a bond to be paid so that in the event you lose your appeals or you lose any other post-trial motions, the money is secured and the plaintiff gets their award. Trump doesn't want to do that because he just has so much money.

But here's what's going on, and this is what Judge Kaplan had to say about it. Mr. Trump has moved for an administrative stay of enforcement pending the filing and disposition of any post-trial motions that he may file. He seeks that relief without posting any security. The court declines the grant, uh, to grant any, stay much less an unsecured stay without first having afforded plaintiff a meaningful opportunity to be heard. So Eugene Carroll's lawyers have until tomorrow, February 29th to respond to this and Judge Kaplan's kind of little underhanded with his, with his, uh, uh, letter here, he is like, Hey, listen, these a-holes, they don't want to pay up. Uh, and they're trying to get me to just say, no, he doesn't have to pay. Uh, what do you guys think about that? And, and I think we all know what you think about it, but I just wanna make sure that I give you the opportunity to let the court know what you think about it. So when I say that Trump is arguing that he's too rich to have to pay a bond, here's what I mean. This is what they filed in court, having argued to the jury that President Trump has great financial resources. Plaintiff is in no position to contradict herself now and contend that she requires the protection of a bond during the brief period while post-trial motions are pending this fact nullifies risk to the judgment creditor and weighs heavily in favor of an unsecured stay.

Now, what they're saying is that Eugene Carol mentioned in the trial that Trump Trump's got a lot of money. So she knows he's got a lot of money, right? So if she knows he's got money, he knows he's got money, why do we have to pay money? Well, here's the kicker. In the New York fraud trial, Donald Trump had admitted to Attorney General Letitia James that he only has about $400 million cash on hand. All the rest of his billions of dollars in worth is in property holdings. It is not liquid. He would have to sell off the properties to get the cash. So he's only got 400 million according to him in

The bank. Now, when you add up the 88 million total that he owes Eugene Carroll from the two trials, plus the 355 million that he owes the State of New York from the fraud trial, that's more than $400 million. So he does not, in fact have enough money to cover both, and he knows that. So essentially, even though he's saying, look, I'm really rich, I don't have to post a bond. What he's actually telling the court is, I'm near broke and I may not be able to pay. That's what I'm taking away from this.