Trump 'embarrassed' after being forced to admit he’s broke: Michael Cohen
Donald Trump was forced to admit on Wednesday that he doesn't have the money to pay the hefty fines and penalties he's incurred as a result of losing two lawsuits — and former Trump lawyer Michael Cohen firmly believes the former president is "embarrassed" after the public humiliation.
Speaking to CNN's Laura Coates, Cohen explained he thinks Trump is "nervous about everything" and certainly "has the right to feel so."
"I think we can't ignore the fact that our attorney general, our unsinkable attorney general, Tish James, just achieved a fantastic result in repatriating more than a half a billion back to the great state of New York," Cohen noted. "And more importantly, for thanking me for being a catalyst of bringing this case to the courtroom."
Trump was found liable for fraud after James claimed he'd inflated the value of his properties to secure loans and insurance. Trump was hit with $355 million in damages, but that amount is growing substantially with daily interest. It was at $454 million last week. Trump has appealed the decision.
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Coates noted that Trump has been forced to admit he doesn't have the cash to pay the civil fraud judgment and he has since begged for a pause in the fine until his appeal is heard. That was the filing where Trump was forced to admit he would need to sell properties to find the cash.
"Well, of course, he's embarrassed because his entire net worth, the constant reiteration that 'I'm worth at least $10 billion,' maybe even more, obviously goes to his id, his ego, his super-ego," said Cohen.
"And that's now super deflated because it's just not true. They had to acknowledge that they don't have it. It wasn't that long ago that he stood on the stand, and he told everybody that he was worth many, many, many, many billions of dollars and has a very low debt-to-value ratio."
That, Cohen explained, was simply another lie from Trump — and now it has been exposed.
"I mean, what is he going to do?" Cohen wondered. "What's he going to call like a J.G. Wentworth and say, I need cash now? How was he going to raise more than this half a billion? That he chose, in order to be able to file an appeal, well, the judge granted in the ability to apply for loans, again, from New York banks. But you make a good point. Can he find a lender who wants to do business with them?"
Cohen also sounded the alarm about the kinds of donors — or country leaders — who have that large amount of money and might be willing to give it to him. He wondered what they might want in return.
See the discussion in the video below or at the link here.
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