In the meantime, trump is pulling cash out of the business, and writing it off as a business expenses. Trump can’t play loosy -goosy with a publicly traded company like he did with his Trump Enterprise, which was just slapped with $470 million fine in fraud trial. Expect to see a lawsuit from the shareholders of Digital World Acquisitions. The SEC never should have allowed this merger (scam) to proceed in the first place.
How is it that the news of the massive losses in 2023(?) Is only coming out now? Weren't they required to admit this before the IPO? The SEC is repeating the tactics they used with Bernie Madoff. Corruption is the name of the game.
The only thing that Orange Hitler cannot fill his Depends with is the Bible. It has been around for thousands of years and will still be around when "Tiny" is in Hades frying his fc#king ass off in the hottest part of hell for eternity.
Thanks Mary -- This is simply a setup for a pass-through, as you imply.
There was also a note about $300 million in capital raised through this transaction, for the sociopath media company. What will keep that $300 million in the company? When will we know?
This is fraud, plain and simple, on its face. The SEC should be all over it. But the Deep State, yet again, is running interference for Don T. Why? More future tax breaks for the rich, is all I can see.
Today, inflating the stock will do nothing, because Don T can't sell his shares.
Or can he?
Once he can sell shares, the dark money simply buys shares, even directly from him, at whatever price. Watch for it, thanks again for all you are doing -- b.rad
The capital raised from he public offering just went to pay for his $175 million bond. He’ll drain this company like he drained his casinos. This is the same scenario, when the first JDT went public, he took the capital raised from the stock offer, and let the company go bankrupt, leaving the investors and creditors in the dust. The stock eventually went down to 17 cents a share. He knows how to drive a company into the ground, and get as much out of it before it finally crashes for good. He’s a success at bankruptcies. We’re watching in real time the greatest crimes in the history of our country, and still he’s free, running for president!
Your points that everything Don T touches collapses and injures everyone except him are right on for me.
A guy on The Last Word just reported that a California billionaire guaranteed a bond covering the $175M, which should have been $550M . . . but I am not ruling out that there was corruption in the process, maybe even using the cash money injected into the Sociopath Media company . . . watching for reporting and facts, hoping they will come in time — b.rad
I have been watching the stocks tank on Threads. It gives me hope that people are done with his grifting, cheating, lying and him all together. He posted 77 times yesterday on TS. Ranting incoherently about his upcoming trial, the judge and his daughter. Calling for Judge Merchan to recuse himself. He's panicking! And his Dementia ridden brain is misfiring. I am still pretty sure that he will lose in November, bigly.
Thank you for this account. I've seen some videos of him acting demented, though nothing for several weeks, and it's good to read what you have to say!
OMG! I had no idea your Uncle's (UnTruth) Social was so skewed! Thank you for exposing it--as you continue to remove his "emperor's" clothes. I heard Ari Melber on TeeVee tonight speak about the three crazy American billionaires, who voted against The Orange Menace in 2016. They voted for him in 2020, but were appalled by January 6, and wished they could take back their votes, only to jump back into his cesspool after Biden's $26 million fundraiser last Friday. Each nutcase has
stated he will now back Trump by giving $20 million to an outside PAC supporting his re-election. Yikes! I sank into despair hearing that, but I realize we have powerful "weapons of war"to
bring out--i.e., joining Get-Out-the-Vote in swing states. Democrats have always been better at organizing than Republicans. We showed this in 2008 and 2012 by electing Barack Obama. Thanks to you, Mary, I am putting on my big girl pants and going out into the Georgia sunshine to get movin'!
Democrats have an advantage in that we understand that the efforts of many are needed to make progress, or even to keep institutions going, that we're a social species, and work best together, unlike GOPers, who believe in the rugged individual.
WOW, Mary! I had not heard anything about this meme stock aspect of "Truth Social" today! I hope Donald and his investors go bankrupt and, maybe, to jail.
I'm not disagreeing with your comment. I'm simply saying that there's also this other phenomenon. Some embody one or the other phenomenon, and some embody both. (They are not mutually exclusive.)
It's a GIANT FU to decency, morality, justice, peace ,and all the other basic values we thought this country stood for
We are witnessing how the con men have operated all this time and have gotten away with it while the rest of us followed the rules to the best of our ability. This whole system has been rigged against the average person who is barely getting by while the crooks prosper.
In his final ruling, Judge Engeron compared Donald to Bernie Madoff. He said Donald's financial fraud wasn't as bad as Bernie's--only $500 million vs $64 Billion. However if we rank the greatest frauds in recent history, Donald must be at the top. Donald conned his way to the top of the Executive Branch of the world's most powerful government! And he tried to steal it forever, after his term expired!
Here's a Top 10 List of the Best Frauds in Recent History. (Kudos to Forbes Magazine for their list)
1. Donald Trump & Sons - free on bond - Rape - Presidential poser- accounting fraud - $500 million
2. Enron - Jeff Skilling - 24 years prison - many fun & creative scams - $78 Billion
3. Bernie Madoff - died in prison - ponzi game - $64 Billion
4. Lehman Brothers - sparked the Mortgage Crisis - a few $Trillion
5. Cendant - Walter Forbes - 12 years in prison - accounting fraud - $3.2 Billion
6. MF Global - Jon Corzine - no jail time yet - customer assets missing - $41 Billion
7. WorldCom - Bernard Ebbers - 25 years in prison - business fraud - $6.1 Billion
8. Health South - Richard Scrushy - prison for bribery - accounting fraud - $1.4 Billion
9. Tyco International - Dennis Kozlowski - in prison for stealing from his company - $3.2 Billion
10. Qwest Communications - Joseph Naccio - time in prison - accounting fraud - $1 Billion+
Honorable Mention: Jim & Tammy Faye Bakker - 5 years prison - rape - stealing from gullible Christians - $100 Million
Jim Bakker reinvented himself I see complete with a new Evangelical wife (a Tammy like yes woman) running a new church on TV. Tammy of course died years ago after making peace with it all. Good job Burke.
Thank you, Mary, for keeping us updated on the status of DJT. It is well worth the cost of subscription to be informed by an insider of the state of his dubious wealth and to keep his blubbering orange head above water.
Completely accurate. The valuation of Truth Social is a joke. It's worth very very little. $10 billion was just a scam for gaining influence over him. How does a platform that is losing subscribers and have about $60 million in losses in 2023 be worth anything? Maybe if the subscribers were growing, advertising revenue was rising, and losses were showing a decline it "might" be worth something. As is, it's valueless.
He posted bond today. One analyst said he feared that the penalty will be reduced, just as the bond had. I hope that's not the case, but nothing I've seen to date would indicate otherwise.
Thing is all 3 judges at the appeals court are Democrats so hopefully he will be responsible for the entire judgment and any penalties. I like you am afraid he will somehow skate on this to. Have to wait and see how it plays out….like everything else. Delay delay delay. Deny deny deny. What that creature DJT learned from Roy Cohn and Roger Stone years ago. Has been working wonders for him his whole life. The man is truly a dick!
Any investor who sells DJT stock and incurs a loss can: a) offset any capital gains with this loss and: b) if the loss exceeds their total capital gains for the year, only $3,000 is deductible against ordinary income (such as wages, interest, etc.) in that year. Excess losses can be carried forward indefinitely but are still limited to the offset and the $3,000/year deduction. What's the odds that anyone who bought DJT is savvy enough to have capital gains. There's also reports that the company's accountants have stated that this company may not be a going concern. If this is true, no CPA firm can issue a clean opinion on the audited financial statements which are required of publicly traded corporations. This would cause the stock to crash, maybe be delisted. As Rick Wilson says, ETTD (Everything Trump Touches Dies). There's a reason Trump's businesses are not corporations.
Questions: What would be Trump’s basis in the stock? If he sells the stock at a profit (net proceeds from sale less basis in stock), then that income is considered as taxable income, subject to federal & local income taxes. The more the share price falls, the less income to Trump. If the Board excuses Trump from the six month hold on sales, wouldn’t other investors want to dump their shares before he sells his shares? I would think the price would quickly drop. I cannot see how the new company would be profitable in the short term, at best. What am I missing here?
You've mentioned the same things that I've been thinking. This stock appears to be similar to a soufflé that's going to deflate at any minute. Any gain on the sale of his stock would be capital gain; net capital gain (after offset for capital losses) is taxed at lower rates than ordinary income. His basis would be whatever he invested (paid for the stock). I suspect that his basis would be low, especially after he had the company expand his number of shares. I also suspect there are a lot of investors who are speculators and who'll also dump their stock soon. As usual, Trump will screw all the small investors.
Can we please stop calling it Truth Social and call it what it is: Lies Sociopathic.
Yes ❗️and/or bullshit psycho
Like it!
Bullshit Psycho has a nice ring to it!
Love it! That was my first thought. Spot on Anne!
It’s galling, yet again, ad nauseum. Literally. We once had truth in advertising laws . . . ha, so Walter Cronkite . . . b.rad
😆😆😆
It’s probably also money laundering on top of everything else
My thoughts exactly.
Bet on it!
My thought exactly
In the meantime, trump is pulling cash out of the business, and writing it off as a business expenses. Trump can’t play loosy -goosy with a publicly traded company like he did with his Trump Enterprise, which was just slapped with $470 million fine in fraud trial. Expect to see a lawsuit from the shareholders of Digital World Acquisitions. The SEC never should have allowed this merger (scam) to proceed in the first place.
How is it that the news of the massive losses in 2023(?) Is only coming out now? Weren't they required to admit this before the IPO? The SEC is repeating the tactics they used with Bernie Madoff. Corruption is the name of the game.
Exactly, does he contacts at the SEC who were bribed?
His Court Cases are N E V E R Concluded!
The Judges, witnesses, jury's, etc have all either died or been diagnosed with dementia after so many years of DELAYING Tactics.
American Justice & Laws have NEVER APPLIED To Donald tRump!!!
"Someone" always Pays His Way...
AND, NOW, he owns the Supreme Court!!
If he is permitted to be on the Presidential Election Ballot,
There's No Law, No Justice and NO America any more.
Is there anything this moron is associated with, that doesn't turn to s***! 😈🤦
The only thing that Orange Hitler cannot fill his Depends with is the Bible. It has been around for thousands of years and will still be around when "Tiny" is in Hades frying his fc#king ass off in the hottest part of hell for eternity.
Well, you know how the saying goes. “Everything Trump touches dies.” 😎
Very good reminder Margaret!
Hopefully the next election
He's possibly about to Finish That Up, With America in 2024? ...
Thanks Mary -- This is simply a setup for a pass-through, as you imply.
There was also a note about $300 million in capital raised through this transaction, for the sociopath media company. What will keep that $300 million in the company? When will we know?
This is fraud, plain and simple, on its face. The SEC should be all over it. But the Deep State, yet again, is running interference for Don T. Why? More future tax breaks for the rich, is all I can see.
Today, inflating the stock will do nothing, because Don T can't sell his shares.
Or can he?
Once he can sell shares, the dark money simply buys shares, even directly from him, at whatever price. Watch for it, thanks again for all you are doing -- b.rad
The capital raised from he public offering just went to pay for his $175 million bond. He’ll drain this company like he drained his casinos. This is the same scenario, when the first JDT went public, he took the capital raised from the stock offer, and let the company go bankrupt, leaving the investors and creditors in the dust. The stock eventually went down to 17 cents a share. He knows how to drive a company into the ground, and get as much out of it before it finally crashes for good. He’s a success at bankruptcies. We’re watching in real time the greatest crimes in the history of our country, and still he’s free, running for president!
Your points that everything Don T touches collapses and injures everyone except him are right on for me.
A guy on The Last Word just reported that a California billionaire guaranteed a bond covering the $175M, which should have been $550M . . . but I am not ruling out that there was corruption in the process, maybe even using the cash money injected into the Sociopath Media company . . . watching for reporting and facts, hoping they will come in time — b.rad
He still has to answer to the 2- female judges overseeing his monies and business decisions though. Hallelujah
Let us pray for their safety.
I have been watching the stocks tank on Threads. It gives me hope that people are done with his grifting, cheating, lying and him all together. He posted 77 times yesterday on TS. Ranting incoherently about his upcoming trial, the judge and his daughter. Calling for Judge Merchan to recuse himself. He's panicking! And his Dementia ridden brain is misfiring. I am still pretty sure that he will lose in November, bigly.
I just love your optimism in the face of such an awful possibility. Regardless of how small.
He will lose in be November.
Thank you for this account. I've seen some videos of him acting demented, though nothing for several weeks, and it's good to read what you have to say!
OMG! I had no idea your Uncle's (UnTruth) Social was so skewed! Thank you for exposing it--as you continue to remove his "emperor's" clothes. I heard Ari Melber on TeeVee tonight speak about the three crazy American billionaires, who voted against The Orange Menace in 2016. They voted for him in 2020, but were appalled by January 6, and wished they could take back their votes, only to jump back into his cesspool after Biden's $26 million fundraiser last Friday. Each nutcase has
stated he will now back Trump by giving $20 million to an outside PAC supporting his re-election. Yikes! I sank into despair hearing that, but I realize we have powerful "weapons of war"to
bring out--i.e., joining Get-Out-the-Vote in swing states. Democrats have always been better at organizing than Republicans. We showed this in 2008 and 2012 by electing Barack Obama. Thanks to you, Mary, I am putting on my big girl pants and going out into the Georgia sunshine to get movin'!
Democrats have an advantage in that we understand that the efforts of many are needed to make progress, or even to keep institutions going, that we're a social species, and work best together, unlike GOPers, who believe in the rugged individual.
WOW, Mary! I had not heard anything about this meme stock aspect of "Truth Social" today! I hope Donald and his investors go bankrupt and, maybe, to jail.
Thank you for your in-depth column tonight. 💙
Oh dear. Don't hold your breath. People like Trump don't go to jail.
It's growing increasingly difficult to find a shred of belief in this country.. What has happened to America?
I honestly believe it was DESIGNED to be a money laundering enterprise.
Here here, here. You see exactly what is going on and understand it. Great job I hope everybody here does and hope everybody does.
TrumpVictims would represent a much larger group than the MAGA cult, it would seem. They are merely suckers lacking any degree of good judgment.
Or desperate people hoping for deus ex machina
I wouldn’t count on it.
I'm not disagreeing with your comment. I'm simply saying that there's also this other phenomenon. Some embody one or the other phenomenon, and some embody both. (They are not mutually exclusive.)
But do feel free to disagree anytime you like. It’s still a free country, unless the worst happens in November…
Thanks! But in this case I certainly don't disagree!
everything they do for their donald is another big FU to the libs.
It's a GIANT FU to decency, morality, justice, peace ,and all the other basic values we thought this country stood for
We are witnessing how the con men have operated all this time and have gotten away with it while the rest of us followed the rules to the best of our ability. This whole system has been rigged against the average person who is barely getting by while the crooks prosper.
As you can tell I'm mad as Hell.
As I am too. But vote blue. We can change it.
And to themselves.
In his final ruling, Judge Engeron compared Donald to Bernie Madoff. He said Donald's financial fraud wasn't as bad as Bernie's--only $500 million vs $64 Billion. However if we rank the greatest frauds in recent history, Donald must be at the top. Donald conned his way to the top of the Executive Branch of the world's most powerful government! And he tried to steal it forever, after his term expired!
Here's a Top 10 List of the Best Frauds in Recent History. (Kudos to Forbes Magazine for their list)
1. Donald Trump & Sons - free on bond - Rape - Presidential poser- accounting fraud - $500 million
2. Enron - Jeff Skilling - 24 years prison - many fun & creative scams - $78 Billion
3. Bernie Madoff - died in prison - ponzi game - $64 Billion
4. Lehman Brothers - sparked the Mortgage Crisis - a few $Trillion
5. Cendant - Walter Forbes - 12 years in prison - accounting fraud - $3.2 Billion
6. MF Global - Jon Corzine - no jail time yet - customer assets missing - $41 Billion
7. WorldCom - Bernard Ebbers - 25 years in prison - business fraud - $6.1 Billion
8. Health South - Richard Scrushy - prison for bribery - accounting fraud - $1.4 Billion
9. Tyco International - Dennis Kozlowski - in prison for stealing from his company - $3.2 Billion
10. Qwest Communications - Joseph Naccio - time in prison - accounting fraud - $1 Billion+
Honorable Mention: Jim & Tammy Faye Bakker - 5 years prison - rape - stealing from gullible Christians - $100 Million
WOW!!!
Jim Bakker reinvented himself I see complete with a new Evangelical wife (a Tammy like yes woman) running a new church on TV. Tammy of course died years ago after making peace with it all. Good job Burke.
Thank you, Mary, for keeping us updated on the status of DJT. It is well worth the cost of subscription to be informed by an insider of the state of his dubious wealth and to keep his blubbering orange head above water.
Completely accurate. The valuation of Truth Social is a joke. It's worth very very little. $10 billion was just a scam for gaining influence over him. How does a platform that is losing subscribers and have about $60 million in losses in 2023 be worth anything? Maybe if the subscribers were growing, advertising revenue was rising, and losses were showing a decline it "might" be worth something. As is, it's valueless.
And he can’t post bond. Some “billionaire.”
He posted bond today. One analyst said he feared that the penalty will be reduced, just as the bond had. I hope that's not the case, but nothing I've seen to date would indicate otherwise.
Thing is all 3 judges at the appeals court are Democrats so hopefully he will be responsible for the entire judgment and any penalties. I like you am afraid he will somehow skate on this to. Have to wait and see how it plays out….like everything else. Delay delay delay. Deny deny deny. What that creature DJT learned from Roy Cohn and Roger Stone years ago. Has been working wonders for him his whole life. The man is truly a dick!
LOL!!!!
Seems just another DJT con job - ponzi game
Any investor who sells DJT stock and incurs a loss can: a) offset any capital gains with this loss and: b) if the loss exceeds their total capital gains for the year, only $3,000 is deductible against ordinary income (such as wages, interest, etc.) in that year. Excess losses can be carried forward indefinitely but are still limited to the offset and the $3,000/year deduction. What's the odds that anyone who bought DJT is savvy enough to have capital gains. There's also reports that the company's accountants have stated that this company may not be a going concern. If this is true, no CPA firm can issue a clean opinion on the audited financial statements which are required of publicly traded corporations. This would cause the stock to crash, maybe be delisted. As Rick Wilson says, ETTD (Everything Trump Touches Dies). There's a reason Trump's businesses are not corporations.
Questions: What would be Trump’s basis in the stock? If he sells the stock at a profit (net proceeds from sale less basis in stock), then that income is considered as taxable income, subject to federal & local income taxes. The more the share price falls, the less income to Trump. If the Board excuses Trump from the six month hold on sales, wouldn’t other investors want to dump their shares before he sells his shares? I would think the price would quickly drop. I cannot see how the new company would be profitable in the short term, at best. What am I missing here?
You've mentioned the same things that I've been thinking. This stock appears to be similar to a soufflé that's going to deflate at any minute. Any gain on the sale of his stock would be capital gain; net capital gain (after offset for capital losses) is taxed at lower rates than ordinary income. His basis would be whatever he invested (paid for the stock). I suspect that his basis would be low, especially after he had the company expand his number of shares. I also suspect there are a lot of investors who are speculators and who'll also dump their stock soon. As usual, Trump will screw all the small investors.
The profit (if any) would be short term and taxed at a higher rate I believe!
That's correct. If the stock is held one year or less then any capital gain would be taxed at ordinary income rates. Good catch.