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Trump Timeline ... Trumpocalypse
- Thread starter CdnGuy
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Michael Cohen is so certain that Donald Trump will lose the election that he put a $10,000 bet on it—but he does not anticipate that the President will go quietly.
The President has survived one impeachment, twenty-six accusations of sexual misconduct, and an estimated four thousand lawsuits. That run of good luck may well end, perhaps brutally, if Joe Biden wins.
No American President has ever been charged with a criminal offense. But, as Donald Trump fights to hold on to the White House, he and those around him surely know that if he loses—an outcome that nobody should count on—the presumption of immunity that attends the Presidency will vanish. Given that more than a dozen investigations and civil suits involving Trump are currently under way, he could be looking at an endgame even more perilous than the one confronted by Nixon.
The Presidential historian Michael Beschloss said of Trump, “If he loses, you have a situation that’s not dissimilar to that of Nixon when he resigned. Nixon spoke of the cell door clanging shut.” Trump has famously survived one impeachment, two divorces, six bankruptcies, twenty-six accusations of sexual misconduct, and an estimated four thousand lawsuits. Few people have evaded consequences more cunningly. That run of good luck may well end, perhaps brutally, if he loses to Joe Biden. Even if Trump wins, grave legal and financial threats will loom over his second term.
Two of the investigations into Trump are being led by powerful state and city law-enforcement officials in New York. Cyrus Vance, Jr., the Manhattan District Attorney, and Letitia James, New York’s attorney general, are independently pursuing potential criminal charges related to Trump’s business practices before he became President. Because their jurisdictions lie outside the federal realm, any indictments or convictions resulting from their actions would be beyond the reach of a Presidential pardon.
Trump’s legal expenses alone are likely to be daunting. (By the time Bill Clinton left the White House, he’d racked up more than ten million dollars in legal fees.) And Trump’s finances are already under growing strain. During the next four years, according to a stunning recent Times report, Trump—whether reëlected or not—must meet payment deadlines for more than three hundred million dollars in loans that he has personally guaranteed; much of this debt is owed to such foreign creditors as Deutsche Bank. Unless he can refinance with the lenders, he will be on the hook.
The Financial Times, meanwhile, estimates that, in all, about nine hundred million dollars’ worth of Trump’s real-estate debt will come due within the next four years. At the same time, he is locked in a dispute with the Internal Revenue Service over a deduction that he has claimed on his income-tax forms; an adverse ruling could cost him an additional hundred million dollars. To pay off such debts, the President, whose net worth is estimated by Forbes to be two and a half billion dollars, could sell some of his most valuable real-estate assets—or, as he has in the past, find ways to stiff his creditors. But, according to an analysis by the Washington Post, Trump’s properties—especially his hotels and resorts—have been hit hard by the pandemic and the fallout from his divisive political career. “It’s the office of the Presidency that’s keeping him from prison and the poorhouse,” Timothy Snyder, a history professor at Yale who studies authoritarianism, told me.
The White House declined to answer questions for this article, and if Trump has made plans for a post-Presidential life he hasn’t shared them openly. A business friend of his from New York said, “You can’t broach it with him. He’d be furious at the suggestion that he could lose.” In better times, Trump has revelled in being President. Last winter, a Cabinet secretary told me Trump had confided that he couldn’t imagine returning to his former life as a real-estate developer. As the Cabinet secretary recalled, the two men were gliding along in a motorcade, surrounded by throngs of adoring supporters, when Trump remarked, “Isn’t this incredible? After this, I could never return to ordering windows. It would be so boring.”
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