The bill is coming due
What Trump can expect starting next Wednesday:
[N]ow, finally, the end is at hand. Trump is suffering a series of wounds that, in combination, are likely to be fatal after Joe Biden is sworn in on January 20. Trump is obviously going to surrender his office. Beyond that looming defeat, he is undergoing a cascading sequence of political, financial, and legal setbacks that cumulatively spell utter ruin. Trump is not only losing his job but quite possibly everything else.
… Many of his sources of income are drying up, either owing to the coronavirus pandemic or, more often, his toxic public image. The Washington Post has toted up the setbacks facing the Trump Organization, which include cancellations of partnerships with New York City government, three banks, the PGA Championship, and a real-estate firm that handled many of his leasing agreements. Meanwhile, he faces the closure of many of his hotels. And he is staring down two defamation lawsuits. Oh, and Trump has to repay, over the next four years, more than $300 million in outstanding loans he personally guaranteed.
Lots of expenses, not much income.
If this were still 2015, Trump could fall back on his tried-and-true income generators: money laundering and tax fraud. The problem is that his business model relied on chronically lax enforcement of those financial crimes. And now he is under investigation by two different prosecutors in New York State for what appear to be black-letter violations of tax law. At minimum, these probes will make it impossible for him to stay afloat by stealing more money. At maximum, he faces the serious risk of millions of dollars in fines or a criminal prosecution that could send him to prison.
Chronically lax enforcement of financial crimes will continue, just not for him.
The assumption until now has always been that Trump wouldn’t really be convicted of crimes or sentenced to prison, despite the fairly clear evidence of his criminality. American ex-presidents don’t go to jail; they go on book tours.
That supposition wasn’t wrong, exactly. It rested on the understanding of a broad norm of legal deference to powerful public officials and an understanding of the dangers of criminalizing political disagreement. But what has happened to Trump in the weeks since the election, and especially since the insurrection, is that he has been stripped of his elite impunity. The displays of renunciation by corporate donors and Republican officials, even if they lack concrete authority, have sent a clear message about Donald Trump’s place in American society.
…
At noon on January 20, Trump will be in desperate shape. His business is floundering, his partners are fleeing, his loans are delinquent, prosecutors will be coming after him, and the legal impunity he enjoyed through his office will be gone. He will be walking naked into a cold and friendless world. What appeared to be a brilliant strategy for escaping consequences was merely a tactic for putting them off. The bill is coming due.
Here’s hoping.
Good thing Trump can’t read. He’d finish that last paragraph and push The Button.
If there was just a button with only one finger needed on it to bring on Armageddon, Trump might get desperate and deranged enough to choose that as his way out, taking a fair hunk of North America with him. Trouble with that is as I understand it, he needs an equally suicidal support crew to carry that out. It is as for a launch from a nuclear submarine. One crazy submariner can’t do it on his own.
But I may be wrong on that. We’ll know for sure come January 21.
Maybe time to rewatch Dr. Strangelove before then? That was such a brilliant movie.
He must be feeling like Captain Hook, hearing the crocodile’s tick, tock, tick, tock getting louder and louder as the 20th. approaches.
Perhaps he hopes he will wake up,soon and find it was all a bad dream. Then maybe his nanny will locate his teddy bear for him, and he’ll be happy; if not forever then at least until next crisis.
Omar, I hoped that after my divorce, but funny how it never happens. The only times I woke up and discovered it was all a dream was when I was a child and dreamed that Santa would bring me neat things. Since we were a poor family with a lot of kids, it never happened. I decided it was best to stop dreaming…or at least, figure out how to separate dreams from reality. Trump should do the same.
My big concern is that Trump will (successfully) seek sanctuary with Uncle Vlad. I’m not sure Biden has the willpower needed to shoot down a private jet flying to Moscow before it gets past the Atlantic.