The MeidasTouch Podcast - Trump DECLARATION SURFACES Showing How HE CAN’T AFFORD BOND

Episode Date: March 18, 2024

MeidasTouch host Ben Meiselas reports on the declaration that has surfaced from Donald Trump’s General Counsel detailing how Trump didn’t have the financial means to secure a surety bond. Get up to 40% off for a limited time when you go to https://shopbeam.com/MEIDAS and use code MEIDAS to try Beam's best-selling Dream Powder! Visit https://meidastouch.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Learn more about your ad choices. Visit megaphone.fm/adchoices

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And this comes from, again, Donald Trump, who he himself and his lawyers, they go out every single day bragging about how rich he is and it's going to be so easy to post a bond. But like everything with Donald Trump, it is yet another lie. The filing, by the way, that Donald Trump filed was about 4,700 pages when you add up all of the exhibits. So when I reported earlier this morning about Donald Trump's inability to post the bond and asking for the stay and how no surety would work with him, I obviously couldn't go through all 4,700 pages at that moment, but I went through the main motion to reveal all of the statements. Donald Trump basically saying he doesn't have the means to

be able to post a bond equal to at least $464 million. And you probably would need a little more than that to actually post this bond. But now having read it, we now see a declaration from Donald Trump's general counsel at the Trump organization, someone by the name of Alan Garten, who talks about how Donald Trump basically went out begging 30 different, at least 30, more than 30 surety companies trying to get them to post a surety bond. And all of them either viewed Donald Trump as a significant risk or Donald Trump was unable to make a deal with them. As you go through

this filing and this declaration, here's from Alan Garten's affidavit. Again, Alan Garten is the general counsel at the Trump organization right now, so he says he is. This is how Adam Klassfeld says it. He goes, within the past week, negotiations collapsed with Chubb, the insurance giant who provided the bond on the E. Jean Carroll judgment. Now, you could imagine why there. I mean, also, I mean, Chubb, I think, fully understood the risk too little too late after posting the bond for Donald Trump and E.G. and Carol, because what did Donald Trump do immediately after Chubb served as the surety bond there? Donald Trump went and further defamed E.G. and Carol at the various rallies and events, making this posting of the surety bond incredibly risky for Chubb. And I know that their shareholders there were just absolutely livid. Chubb, what are you doing? You're posting a bond for an adjudicated rapist? Are you out of your mind? I did a whole hot take here that did really well, where we went through the letter that Chubb's chairman had to basically send to the shareholders explaining why they did it. Let's take a look at this affidavit. Paragraph eight

says, while defendants had been actively negotiating a bond collateralized, this is from Trump's lawyer, while defendants Trump and others had been actively negotiating a bond collateralized by both liquid assets and real property with Chubb, one of the largest insurance companies in the world, within the past week, Chubb notified defendants that it could not accept real property as collateral. Though disappointing, this decision was not surprising given that Chubb was the only surety even willing to consider accepting real estate as collateral. For defendants, this presents a major obstacle. And then there's a footnote which talks about some of the other sureties contacted by defendants brokers included, and it lists like a ton of them. Applied Underwriters, Alliance, Inata, Arch, Argo,

Ascot, AXA, Berkeley, Berkshire Hathaway, CAP, Specialty, Chubb, Cincinnati, CNA, Surety, Dual Access, Everest, Reef, Frankmont, Hartford, Hudson, IAT, Intact, Liberty, Munich, Philadelphia Indemnity, Main Street, Markham, Nationwide, Skyward, Great Midwest, Sampo, Swiss Ray, Tokyo Marine, HCC, Travelers, and Zurich. And according to this declaration by Alan Garten, again, the general counsel for the Trump organization, they claim that none of these surety companies or companies that have surety divisions were willing to actually post a surety bond. And sleep is the foundation of our mental and physical health.

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for defendants referring to Donald Trump, the fact that Chubb won't serve as a surety poses a major obstacle. I think to myself, what is the obstacle? Donald Trump would go every day when he would show up in the performative way he did at that New York Attorney General civil fraud trial. And what would he say? He would say, oh, the New York Attorney General, they're undervaluing this unfair judge, Justice N'Goran, this deep state judge, Donald Trump would say. He's the one who's valuing Mar-a-Lago at $18 million.

In fact, Mar-a-Lago is actually valued at 10, 15, 20 times that. So you're saying Mar-a-Lago itself, you claim is valued at around $1.5 to $1.8 billion. That's what you claim right there. And then Donald Trump would be the one, I'm so rich. I have so much money. They don't even realize how much cash I have. Remember one of the things that Donald Trump would also say? He goes, and you know what?

When New York Attorney General Letitia James looked at my books, she was impressed about how much cash that I have. And she found out how rich I was. And then I won't play it again because it'll annoy you. I'm sure if I play these video clips of Trump or Eric Trump and Eric, but I'll tell you what Eric Trump said. He goes, we're the biggest and best real estate corporation in all of the United States of America, and we're being treated this unfairly. That's what he said before. Well, notably, when you actually sought the surety bond and when you are now begging the appellate division in New York to show you leniency and to stay the enforcement of the judgment, one of the things that you're now arguing is that, in short, a bond of this size is rarely, if ever, seen. In the unusual circumstances that a bond of this size is

issued, it is provided to the largest public companies in the world, not to individuals or privately held businesses. So in other words, this should go out. I don't care if you're a Republican, Democrat, this is just the facts. This man, Donald Trump is a snake oil salesman. He lies about every single thing. He goes out there. We have the biggest corporation. We're better than any real estate. We're bigger than these public corporations. We're the greatest. And then when they go to court, oh, you can't do this. We're just a mom and pop shop, the Trump organization. We're just individuals. Why would a judge ever impose such restrictions on us? And here's the thing that we talk about over and over

again on the Midas Touch Network. There's nothing that this individual, Trump and the kids, that they won't say or do to try to screw you, to try to screw me, to try to screw this country, to try to screw this world. They are perennial liars. All they do is lie about everything at all. You go back through their other filing where they talk about how, you know, the remaining handful of sureties will only accept hard assets such as real estate, but will only accept, they won't accept hard assets, but will only accept cash or cash equivalents such as marketable securities. Moreover, sureties would typically require collateral of approximately 120% of the judgment, which would require defendants to hand over collateral in the form

of cash or cash equivalents of approximately $557 million. In addition, the sureties would likely charge bond premiums of approximately 2% per year with two years in advance and upfront costs of over $18 million. Look, you're the one, your whole life, Trump and your kids is bragging that you are so rich and your lawyer goes on TV and says you have all of this money, but you don't. That's the one remaining thesis that a MAGA person, oh, he's a good businessman, which he was not. He bankrupted everything he's touched his entire life, essentially. And now he's been exposed yet again. And we see in this declaration now, as we've combed through this 4,700 page document that they're trying to overwhelm the courts with what's really going on here.

You know what? He's acting like he's indigent. He's acting like he's like an impoverished party to this case. That's what he's doing right now. That's the type of cases he's citing. It is utterly pathetic that he's doing this and his general counsel's writing these things. But I just want to give you the facts. So tell me what you feel for yourself. But this declaration makes this even far more, I think, just pathetic for Donald Trump and everything. He said, share this video, let people know what's going on. And thanks for watching. I'm Ben

Micellas and have a wonderful day. Hit subscribe. Let's get to 3 million subs.