Yesterday, during MSNBC’s coverage of the Trump transformation from “first criminally indicted former president” to “first criminally convicted former president,” Jen Psaki – with the general agreement of the polite panel (except the always reliable Joy Reed) – advised viewers that she wasn’t about dancing in the street over the news of Trump’s 34 count conviction. Apparently, that would be too impolite and incivil. Being an aging baby boomer I am delighted by impolite, and a schadenfreude admirer regarding enemies of the state, so, I took a pass on Psaki’s advice. One needs to celebrate a victory, especially since Trump has for decades avoided such a comeuppance. So, here’s my attempt at schadenfreudish happy feet:
Well, I for one, never underestimate Donald Trump’s sense of a public moment. He’s baffled us consistently by his madcap lawyers’ often deft, delaying of his criminal trials. He knows how to capture the national spotlight; witness his courthouse steps news conferences. He’s a savant of the moment. So, I’ll not bet against him ponying up the $500+ million surety bond on Monday next.
From where, we ask. Many CNBC types ponder why billionaires don’t simply step up to the plate for their favorite stooge whose 2017 tax bill advanced their interests. Is there no gratitude in Scrooge McDuck world? Well, no there isn’t. Billionaires are tight-fisted, generally, and in Trump’s case, they don’t want too close a relationship given the scrutiny they’d suffer if they – singularly or as a group – helped him. The billionaire class is exceptional in its shyness. And their poor relatives, the cento-millionaires would be unable to raise or guarantee a surety bond of that amount without mortgaging their fortunes to a guy who, put kindly, is a scofflaw. The cento-millionaire peanut gallery, too, is notoriously shy about press coverage and, well, unlike cento-billionaires, they actually need to be repaid.
However, one unnoticed aspect of being a galactically wealthy entity is liquidity, i.e. , how much money is in cash and available, unencumbered. Most super wealthy people manage their fortunes in ways that keep most every penny in a state of being they call “at work,” a euphemism for fully invested. In practical terms they have little cash on hand. This means that to raise cash for a Trump bailout, a soft hearted guy like Elon Musk or one of the Waltons would have to liquidate (sell off) investments to raise cash. Selling $500+ millions of, let’s say, stock or bonds to rescue Trump would be noticed, and they, as we know, are a shy bunch. In addition, sales of large stock holdings would likely affect the sale prices of these holdings negatively, for example, a rescue package of $500+ millions for the Donald might inevitably lead to the donor losing money as the stock dropped in value as it was super-actively traded. Rich folks hate losing money, even small amounts, almost as much as they hate publicity and press scrutiny.
Nevertheless, Trump is predictable. He’s very likely got something up his sleeve that was, perhaps, signed, sealed, and (about to be) delivered weeks ago looking forward to a “surprise” revelation at the eleventh hour, for instance, this coming Monday. Where from, who from? Let’s not forget so-called “sovereign funds,” cento-billions of dollars held by countries, not individuals. For the right favors that a Trump as president could and surely would provide, he’d have the ear of financiers for the Saudi, or Dubai, or other sovereign funds. And a second Trump administration plans to destroy all governmental snoopers, like the FBI, the SEC, the DOJ, who might object on foreign relations grounds.
I hope I’m wrong, but I’m betting on Trump whose criminal mind knows no limits, and the enablers who will cover it up.
