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or do they leave you out of the underwriting business? thomas: about 99% of the business is done in the entities, but yeah, there are some risks that come to me where i have to take a decision. >> "the david rubenstein show: peer to peer conversations" is sponsored by wells fargo. we are helping our clients forge what's next. ♪ david: let's talk about your background for a minute. where were you born? thomas: i was born in germany. david: where did you go to school? thomas: your dusseldorf, in germany, and spent all my childhood in germany. david: you were a german speaker, i assume. thomas: yes. david: did you learn french as well? thomas: i learned french in school. it was my third language. at the time i did not know how valuable it would be that i learned french. david: in the united states, you often hear people saying i want my little boy to grow up to be an investor. they want them to be a doctor or lawyer. you never hear them say you want my boy to grow up to be an entrance person. did your parents tell you to be in the insurance
or do they leave you out of the underwriting business? thomas: about 99% of the business is done in the entities, but yeah, there are some risks that come to me where i have to take a decision. >> "the david rubenstein show: peer to peer conversations" is sponsored by wells fargo. we are helping our clients forge what's next. ♪ david: let's talk about your background for a minute. where were you born? thomas: i was born in germany. david: where did you go to school? thomas:...
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Mar 14, 2024
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or do they leave you out of the underwriting business?homas: it always depends on what size of risk you took. normally they are doing their own business so we have a clear grid of competence for underwriting, and about 99% of all risks is done in the entities, and so it should be, but there are some risks that come to me where i have to take a decision. david: let's suppose i'm in business school and i say i want to go into the business world. why would i want to go into the insurance world? >> interestingly, we get quite a few young people today in the business and when you ask them why they are in the business, the number one reason they always say is the purpose of insurance because insurance companies do protect individuals , but they also help society to develop. that's the number one driver why people are there. second, we have a lot of people that have analytical backgrounds, so people that love data, and obviously, our industry is data which with the revolution and wave of ai coming, we now have the ability to analyze unstructured
or do they leave you out of the underwriting business?homas: it always depends on what size of risk you took. normally they are doing their own business so we have a clear grid of competence for underwriting, and about 99% of all risks is done in the entities, and so it should be, but there are some risks that come to me where i have to take a decision. david: let's suppose i'm in business school and i say i want to go into the business world. why would i want to go into the insurance world?...
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Mar 30, 2024
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you try to make money on the underwriting or break even? thomas: you have to make money because there is capital behind the business and then what we are basically looking at is we have a lot of historic data that we could use to price a building and then to make sure that over the duration of a contract we make sufficient money to re-numerator our -- renumerate are shareholders. david: what type of returns do you want to get on your investments, who does the investing? thomas: we are not speculators and we look at are liable -- liabilities and we invest in terms of duration in ways we would expect the liability to come. and we hold our assets to maturity. it really depends what the liability looks like. this determines the return unit and the longer the liability the higher the return. david: warren buffett famously bought a life insurance company and he takes the premiums and in -- and is a good investor. is that a model to get good investors that you give money to and give them a higher rate of return than you would normally get? thomas:
you try to make money on the underwriting or break even? thomas: you have to make money because there is capital behind the business and then what we are basically looking at is we have a lot of historic data that we could use to price a building and then to make sure that over the duration of a contract we make sufficient money to re-numerator our -- renumerate are shareholders. david: what type of returns do you want to get on your investments, who does the investing? thomas: we are not...
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Mar 22, 2024
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at this range, i don't see underwriters coming in saying we need to prop this up. vonnie: shares are down 4%, but they were down almost 8% early on and as you say, it is trading below $40 per share, holding onto gains. amy, thank you so much. let's discuss broader market moves with alan hayes and. when you see ipos like the one you saw yesterday, do you focus on the market being healthy? or that this is an unproven company with a huge amount of demand and perhaps this market isn't the safest right now? i think that when you look at the ipo market, you have to look at stock in terms of its own merits, revenue, and profitability. but it is a referendum on the health of the equity market and between yesterday and today, you are seeing very healthy ipo action in the aftermarket for a number of stocks. this was true last week as well. this says it was a healthy market that can absorb a lot of excess stock coming to market. investors are optimistic and are willing to give companies the benefit of the doubt, even if they have limited history. in general, it's a positive s
at this range, i don't see underwriters coming in saying we need to prop this up. vonnie: shares are down 4%, but they were down almost 8% early on and as you say, it is trading below $40 per share, holding onto gains. amy, thank you so much. let's discuss broader market moves with alan hayes and. when you see ipos like the one you saw yesterday, do you focus on the market being healthy? or that this is an unproven company with a huge amount of demand and perhaps this market isn't the safest...
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Mar 21, 2024
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it because it was the 11th hour that they got chubb to underwrite the bond for e. jean carroll >> so just talking about the process here. if the appeals court they could grant foreign president reduction in the amount, right? >> they have that authority to >> do so that they could do in the next couple of days? they could. and one hopes that they will at least rule before monday if they >> don't grant a reduction an appeal, he can try to appeal up to the new york court of appeals is the highest courts. there's one >> more avenue of it because that has to be done before monday he would have to do that. i think if he's going to try to again avoid the consequences on monday, you'd have to try one more time to get an appellate court to stay the judgment. >> and then what would the process look like? the attorney jones starting to collect the judgment amount? yeah. so that's really interesting. it's not going to happen overnight. i mean, with respect to the cache and things that are in bank accounts, that process is more straightforward in terms of ability to actually s
it because it was the 11th hour that they got chubb to underwrite the bond for e. jean carroll >> so just talking about the process here. if the appeals court they could grant foreign president reduction in the amount, right? >> they have that authority to >> do so that they could do in the next couple of days? they could. and one hopes that they will at least rule before monday if they >> don't grant a reduction an appeal, he can try to appeal up to the new york court...
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Mar 21, 2024
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they couldn't have been reasonably counting on chubb underwriting a bond and this amount and so it's a real question of where they actually taken by surprise by chubb or have they been working behind the scenes on these other avenues? or have they just not been trying very hard and they were counting on some savior coming along and giving the money it's really not clear why they're in the bind that they're in, but they are down to the wire to me die. i >> want to read something that the attorney general's office said in their brief, they said defendants supply no documentary evidence that demonstrates precisely what real property they offered to sureties on what terms that property was offered or precisely why the sureties were unwilling to accept the assets? >> i >> mean, how can it be that they wouldn't provide i mean, do they not have to provide evidence of this? >> y think what the attorney general's suggesting is that they're not being honest here. i think it's not surprising where the very reason why the former president is where he is now is because he's had a pattern of fraud
they couldn't have been reasonably counting on chubb underwriting a bond and this amount and so it's a real question of where they actually taken by surprise by chubb or have they been working behind the scenes on these other avenues? or have they just not been trying very hard and they were counting on some savior coming along and giving the money it's really not clear why they're in the bind that they're in, but they are down to the wire to me die. i >> want to read something that the...
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Mar 19, 2024
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trump is facing, quote, unsurmountable difficulties, claiming 30 insurance companies were unwilling to underwrite the bond. tonight, new york state attorney general letitia james signaling she will try to seize some of trump's properties if he's unable to pay the judgment. abc's senior investigative correspondent aaron katersky leading us off. >> reporter: he has long promoted himself a billionaire. >> i'm really rich. i'll share that. >> reporter: but tonight, donald trump telling a new york appeals court he cannot cover the $464 million bond he must post one week from today, as he appeals the civil fraud judgment against him. trump's lawyers saying they face "insurmountable difficulties." they approached more than 30 insurance companies for help and were rejected by each one. the main reason? trump does not have enough cash, and the insurance companies were unwilling to accept his real estate assets as collateral. trump and his eldest sons were found liable for fraudulently inflating the value of their real estate to get favorable bank loans. if trump does not secure a bond by next week, new yo
trump is facing, quote, unsurmountable difficulties, claiming 30 insurance companies were unwilling to underwrite the bond. tonight, new york state attorney general letitia james signaling she will try to seize some of trump's properties if he's unable to pay the judgment. abc's senior investigative correspondent aaron katersky leading us off. >> reporter: he has long promoted himself a billionaire. >> i'm really rich. i'll share that. >> reporter: but tonight, donald trump...
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Mar 20, 2024
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this reflex your underwriting today.writing commitments on a scenario when it drops instantaneously. instantaneously. there is an effect on that in the industry. there probably -- probably slows down the capitol provision on some companies. we feel very good. there have been thousands of bands that have failed. that's what happens. business models change. but on the other hand, the quality of the banking system. >> that was brian speaking is loose to limber surveillance. coming up, we will get more on the bloomberg scoop. that story is next. this is bloomberg. ♪ you. so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameri
this reflex your underwriting today.writing commitments on a scenario when it drops instantaneously. instantaneously. there is an effect on that in the industry. there probably -- probably slows down the capitol provision on some companies. we feel very good. there have been thousands of bands that have failed. that's what happens. business models change. but on the other hand, the quality of the banking system. >> that was brian speaking is loose to limber surveillance. coming up, we...
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Mar 18, 2024
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none of them are willing to underwrite a bond of this size. and they said that there are two obstacles they've encountered. some companies just are not capable of posting a bond and excess of 100 million. this is five times that amount, and that the ones that can none of them will accept any property as collateral in order for them to underwrite the bond they want trump to give them cash or stock, something that can quickly turn into cash. and that is what in the words of one of trump's attorney has become a major obstacle. so they're telling me appeals court they can't come up with this bond there have asked the appeals court to allow them to go forward and appeal the entire decision in this case without posting the ban saying that trump has the real estate properties, they are the assets they can be something that the new york attorney general's office can sees. so they're asking for this continuation of not having to put up the money in order to appeal okay. >> cara, thank you so much for that reporting appreciate it. i want to bring in cnn
none of them are willing to underwrite a bond of this size. and they said that there are two obstacles they've encountered. some companies just are not capable of posting a bond and excess of 100 million. this is five times that amount, and that the ones that can none of them will accept any property as collateral in order for them to underwrite the bond they want trump to give them cash or stock, something that can quickly turn into cash. and that is what in the words of one of trump's...
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Mar 19, 2024
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i say trump has appealed to 30 different insurance underwriters to help him post a bond. essentially paying them to guarantee that his money will be paid as it should be if he loses his appeal and all of the underwriters have turned him down. now, why would they do that >> trump's >> team says, it's more money than some of them will ever agree to underwrite. so that's one problem. >> but even those who might consider it want cash to back up the deal and trump's money is not in cash, not most of it. most of it is tied up in real estate in places like mar-a-lago in florida, trump tower, and more than a half dozen other properties in new york. he's invested in buildings and chicago, las vegas, san francisco. he has golf courses and resorts, money in companies such as truth social, and even in his airplane. for the underwriters, all of that could turn into a massive headache of property management complicated deals with partners and wildly swinging values. so they just don't want it. so the question is, what happens at this? zero point? well, he doesn't go to jail. this is no
i say trump has appealed to 30 different insurance underwriters to help him post a bond. essentially paying them to guarantee that his money will be paid as it should be if he loses his appeal and all of the underwriters have turned him down. now, why would they do that >> trump's >> team says, it's more money than some of them will ever agree to underwrite. so that's one problem. >> but even those who might consider it want cash to back up the deal and trump's money is not in...
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Mar 18, 2024
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they have limits internally, where they is singularly will not underwrite a ban it in excess of $100 million. his problem is five times that size. and in addition that these companies want cash or stocks as collateral. trump doesn't have that much cat or stock to cover the amount. so they're telling me appeals they've got this problem and that they're hoping the appeals court will see that they've made an effort and give him this ability to appeal the case without posting the money. they've also said that appeals court panel, if you're not going to allow this, then let us go to the new york's highest appeals court and let us continue to not have to come up with the money until then. we are expecting this first layer of the appeals court to make a decision this month. his bond is due next monday. so this is all coming to a head yet again, down to the wire. jake all right. kara scannell. thanks so much. let's bring it on. navarro, co-host of the view and cnn political commentator on a good to see you. so the dispatch editor, our friend jonah goldberg, argues that trump often says vile
they have limits internally, where they is singularly will not underwrite a ban it in excess of $100 million. his problem is five times that size. and in addition that these companies want cash or stocks as collateral. trump doesn't have that much cat or stock to cover the amount. so they're telling me appeals they've got this problem and that they're hoping the appeals court will see that they've made an effort and give him this ability to appeal the case without posting the money. they've...
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Mar 20, 2024
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come together to underwrite get a half-a-billion-dollar bond. they also suggested that trump should have put up some of his properties with the court to secure this judgment, but this is still as the clock is ticking, the ball is in the hands of the appeals court panel. they have to decide if they're going to grant trump's motion to either allowed to post a bond that's less than half 1 billion in dollars, or to say he doesn't have to post one until the appeal of this whole case plays out. the deadline for trump to come up with the bond is monday, and if he doesn't, that's when the new york attorney general's office can begin to try to enforce this judgment. that means they can try to seize bank accounts. they can try to see some properties. they can to start taking steps to move forward to enforce this judgment. dana qarrah. thank you so much for that. i want to bring in build ko han of puck, who has reported extensively on this. nice to see you bill. >> let's start with what >> qarrah wishes talking about that trump's attorneys say that he's tr
come together to underwrite get a half-a-billion-dollar bond. they also suggested that trump should have put up some of his properties with the court to secure this judgment, but this is still as the clock is ticking, the ball is in the hands of the appeals court panel. they have to decide if they're going to grant trump's motion to either allowed to post a bond that's less than half 1 billion in dollars, or to say he doesn't have to post one until the appeal of this whole case plays out. the...
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Mar 19, 2024
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no insurance company willing to underwrite it. cnn's kara scannell joins us now kara how can trump get around the fact that no one will consider his bond? what happens next? well, jake, so trump is telling the judge this >> because he wants the new york appeals court to allow him to appeal this case and not put forward any money until this appeal is exhausted. he's trying to argue that the total judgment will come down. of course, the new york attorney general's office is opposing that. so trump has laid out his efforts to try to get a mom saying that they have approached 30 different bond underwriters. none of them were willing to secure the bond in their filing. they write very few bonding companies will consider a bond of anything approaching that magnitude. as you said, it's nearly half $1 billion that he has to come up with what trump's team said is that among the insurance companies have gone to including some of the biggest ones in the world. they have limits internally were they is singularly will not underwrite a ban it i
no insurance company willing to underwrite it. cnn's kara scannell joins us now kara how can trump get around the fact that no one will consider his bond? what happens next? well, jake, so trump is telling the judge this >> because he wants the new york appeals court to allow him to appeal this case and not put forward any money until this appeal is exhausted. he's trying to argue that the total judgment will come down. of course, the new york attorney general's office is opposing that....
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Mar 25, 2024
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the other thing to point out here, we may approach those 30 or so underwriters. one of the big planes that they were essentially having was that underwriters don't usually go for this amount of nearly half 1 billion they were saying that the underwriters we're saying, okay, we'll do 100 million. that's kind of our cap now, there's a little bit of wiggle room, right? it eats $175 million, is still an enormous amount of money. a lot closer to what they were willing to do in the first please then that 464, $500,000,000 mark. so now they have they can go back to some of these places and see would you be willing to do this, although he has a ten days to figure out, does he you have any of the assets you can add to this. >> well, this is a huge surprise even for trump's legal team, who walked into this courthouse this morning for the criminal case ten to figure out what's going on there, which i should know. it's going on as bad as it inside that courtroom right now. but this is huge news for them to come out and hear that. not only do they have more time here, but it'
the other thing to point out here, we may approach those 30 or so underwriters. one of the big planes that they were essentially having was that underwriters don't usually go for this amount of nearly half 1 billion they were saying that the underwriters we're saying, okay, we'll do 100 million. that's kind of our cap now, there's a little bit of wiggle room, right? it eats $175 million, is still an enormous amount of money. a lot closer to what they were willing to do in the first please then...
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Mar 21, 2024
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scanned code underwriter go to c-spanshop.org to preorder your copy today for delivery this■< >> todayite houst director shaland young and treasury secretary janet yellen testify on presidentiden's 2025 budget request of the economic outlook. watch the house appropriations subcommittee hearing live at 2:30 p.m. easte on c-span3, c-span now our free mobile our free mobile video app, or online at c-span.org.■3 ♪ ♪ >> the house will be in order. >>this y celebrates 45 years of covering congress like no other. since 1979 we have in your primary source for capitol hill providing balanced unfiltered coverage of government. take you to other policies debated and decided all with the support of america's cables. c-span, 45 years and counting, powered by cable. >> senate majority leader chuck schumer was joined by other democratic leaders to discuss this with government funding deadline for the remaining fiscal year. he talks about president biden's announcement of a multimillion dollar grant for production with intel and continued to defend his recent speech calling for new election in israel.
scanned code underwriter go to c-spanshop.org to preorder your copy today for delivery this■< >> todayite houst director shaland young and treasury secretary janet yellen testify on presidentiden's 2025 budget request of the economic outlook. watch the house appropriations subcommittee hearing live at 2:30 p.m. easte on c-span3, c-span now our free mobile our free mobile video app, or online at c-span.org.■3 ♪ ♪ >> the house will be in order. >>this y celebrates 45...
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Mar 18, 2024
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they said their presumptive gop nominee for president cannot find an insurance company to underwrite a nearly half 1 billion bond. remember, he needs to pay the bond as part of a new york civil fraud judgment against him. your recall, the judge found him and the trump organization liable for fraud, conspiracy, and issuing false business records trump's attorney quoted and insurance broker saying the bond was quote, a practical impossibility. cnn's kara scannell joins us now with the stories of care at trump's attorneys are revealing all this to the court to try to delay the bond requirement, right. as trump appeals the judgment right. i mean, they have to come >> up with this money in order to appeal and not have the new york attorney general move to seize their assets and they've been asking me appeals court to allow them to not post any of this money until the appeal is overseeing that they have real estate that is worth the 454 million that the judgment plus tourists is now they're revealing in his filing that they have approached some 30 different underwriters, can't get any of t
they said their presumptive gop nominee for president cannot find an insurance company to underwrite a nearly half 1 billion bond. remember, he needs to pay the bond as part of a new york civil fraud judgment against him. your recall, the judge found him and the trump organization liable for fraud, conspiracy, and issuing false business records trump's attorney quoted and insurance broker saying the bond was quote, a practical impossibility. cnn's kara scannell joins us now with the stories of...
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Mar 19, 2024
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they say trump has appealed to 30 different insurance underwriters to help him post a bond essentially paying them to guarantee the ag will get the money if he loses all his appeal and all the underwriters have said no so far, all of them i mean, think about that. just 30 ever meant the very least. i mean, just last fall for was put out and they put trump's net worth, i think at $2.6 billion. and by the way, as you said, he always brags about how richie is so it given a reason as to why they're saying no to him. >> oh, trump's team says, it's more money than some of these companies will ever agree to. but even those who might consider it want cash to backup the deal and trump's money is tied up in real estate in places like mar-a-lago in trump tower in new york, and more than and a half dozen other properties there. he's got a building in chicago, las vegas, san francisco. he has of course golf courses and resorts, money and companies such as truth social, even in his airplane for the underwriters, although that is all worth a lot of money all of that could turn into a massive headache
they say trump has appealed to 30 different insurance underwriters to help him post a bond essentially paying them to guarantee the ag will get the money if he loses all his appeal and all the underwriters have said no so far, all of them i mean, think about that. just 30 ever meant the very least. i mean, just last fall for was put out and they put trump's net worth, i think at $2.6 billion. and by the way, as you said, he always brags about how richie is so it given a reason as to why they're...
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Mar 12, 2024
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of these things go deadly silent, we are witnessing what the americans are doing basically are the underwriters of zionist crimes in palestine, they are providing the israelis bombs." and missiles and they have provided diplomatic protection, for instance they prevent security council resolutions to be passed, not that israel has ever cared about any united nations security council resolutions, but even so the the americans exercise their v, which is totally illegal instrument, and so we see that on the one hand the palestinians are showing immense determination and resilience, but on the other hand they have exposed... the criminal nature of the international system, united nations and these so-called western powers that are all composed of hypocrites and terrorists and who are the enemies of humanity. well, kim, listening to what zafar said about exposing uh what these entities really are. i mean, isn't the reality is that this has always been the reality, this international law was set up for um... certain countries to benefit from, um, but what has happened at least during the last five and
of these things go deadly silent, we are witnessing what the americans are doing basically are the underwriters of zionist crimes in palestine, they are providing the israelis bombs." and missiles and they have provided diplomatic protection, for instance they prevent security council resolutions to be passed, not that israel has ever cared about any united nations security council resolutions, but even so the the americans exercise their v, which is totally illegal instrument, and so we...
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Mar 21, 2024
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none of them willing to underwrite and secure the bond back by property and she's saying that the appeals court shouldn't but give that any credence they're saying that trump doesn't even detail what efforts they made to get the bond, what kind of terms the underwriters were offering would properties from what i'm has collateral that was one of the points i push back on me to another point as she was even taking a swipe at trump and saying that maybe one of the issues is that the properties are just not worth what he believes that they aren't. that, of course, was the entire point of the trial that the judge had found that trump did inflate the value of his properties, mean the ag's office also suggesting that maybe there could be a pooling of underwriters that all come together and put up the half $1 trump's team has said that that was not feasible. they are pushing back tonight and in a statement, their attorney, chris christ chi says, the attorney general's latest filing demonstrates her continued willingness to misrepresent the facts and misconstrue applicable the law in her political
none of them willing to underwrite and secure the bond back by property and she's saying that the appeals court shouldn't but give that any credence they're saying that trump doesn't even detail what efforts they made to get the bond, what kind of terms the underwriters were offering would properties from what i'm has collateral that was one of the points i push back on me to another point as she was even taking a swipe at trump and saying that maybe one of the issues is that the properties are...
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Mar 18, 2024
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have informed the appeals court today that they are unable to get anybody in insurance company and underwriter to help them post this ban, the $454 million for trump alone the rest to cover his sons and what they say is that they've approached 30 of insurance underwriters. some of these big, gigantic companies that you know, and they say that none of them are willing to do it. as you said, they're calling it a practical impossibility one of the reasons that they say is an issue here is that some of these insurance companies have internal limits that they won't issue a bond for more than $100 million and some of the biggest names that you can think of in the insurance world also will not underwrite a bond and take property, which is what trump has to put up. they want cash, they want securities, stocks, bonds, something that is what's a liquid easy to sell asset. they don't want property. and so that is the problem that trump has run into in trying to come up with this massive amount of money, half $1 these bond companies to they also want their own i guess you could call it insurance on it. th
have informed the appeals court today that they are unable to get anybody in insurance company and underwriter to help them post this ban, the $454 million for trump alone the rest to cover his sons and what they say is that they've approached 30 of insurance underwriters. some of these big, gigantic companies that you know, and they say that none of them are willing to do it. as you said, they're calling it a practical impossibility one of the reasons that they say is an issue here is that...
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so get the ban, what kind of terms the underwriters offering, what properties from offerings and put up as collateral. that was one of the points they pushed back on. me to another point. she was even taking a swipe at trump and saying that maybe one of the the issues is that the properties are just not worth what he believes that they aren't. that of course was the entire point of the trial that the judge had found that trump did inflate the value of his properties, mean the ag's office also suggesting that maybe there could be a pooling of underwriters that all come together and put up to half $1 trump's team has said that that was not feeling feasible they are pushing back tonight and in a statement, their attorney, chris christ, says the attorney general's latest filing demonstrates her continued willingness to misrepresent the facts and ms applicable law in her political crusade against president trump today's missives does not even bother to cite new york case law. now, this is ultimately up to the new york appeals court. they have now heard from the attorney general's office.
so get the ban, what kind of terms the underwriters offering, what properties from offerings and put up as collateral. that was one of the points they pushed back on. me to another point. she was even taking a swipe at trump and saying that maybe one of the the issues is that the properties are just not worth what he believes that they aren't. that of course was the entire point of the trial that the judge had found that trump did inflate the value of his properties, mean the ag's office also...
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coming up, we will look at the underwriters behind red its ipo.all street beat. this is bloomberg. ♪ you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think about it. [announcer] if you're thinking about earning your degree online, snhu can help you get there. - i felt supported throughout the whole process, even from the first call. [graduate] my advisors consistently reached out and guided me along the way. - it was like i was talking to a friend, like someone that i had known for years. - the instructors were very helpful with everything that i was going through. [announcer] we'll be with you from day one to graduation to your dream job. ♪ it all starts
coming up, we will look at the underwriters behind red its ipo.all street beat. this is bloomberg. ♪ you know what's brilliant? boring. think about it. boring is the unsung catalyst for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be...
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Mar 18, 2024
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insurance companies, and none of them will underwrite this ban. trump's attorneys say that a number of these companies have internal limits where they can't write a bond in excess of 100 million. trump's is clearly five times larger than that. and then also some of the ones that then could write a bond of that size. they are not willing to accept any real estate properties as collateral. they only want trump to put up cash or stocks. and that is something that trump is unable to do. so his, one of his attorney said that that that limitation that inability to take any real estate is a major obstacle that they faced in trying to get the bond. so as you say though this is, this trump is trying to persuade an appeals court judge to say he doesn't have to post the bond because he has the properties that he could ultimately turnover or sell to satisfy this judgment. we're expecting in a decision by the appeals court by the end of this month the new york attorney general's pposed trump's request. and they have said that they're ready to move forward to s
insurance companies, and none of them will underwrite this ban. trump's attorneys say that a number of these companies have internal limits where they can't write a bond in excess of 100 million. trump's is clearly five times larger than that. and then also some of the ones that then could write a bond of that size. they are not willing to accept any real estate properties as collateral. they only want trump to put up cash or stocks. and that is something that trump is unable to do. so his, one...
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chair, a underwriting cart should arrive, well, that is, i would equip myself a workplace where it woulde comfortable for both me and the clients, and i also plan to develop it further , also in the process of manufacturing the same place for another master, olga became a regular client of the hairdresser, she also resettled. and says that she met milana at one of the events for idps. i am also very satisfied with the procedures she does for hair, especially the care procedures i want to do it, and today i came. on styling, and really supporting each other, it is also very valuable and important, nowadays it is personally felt. before moving to bila tserkva , the craftswoman did only procedures that improve the condition of her hair, and recently she started to cut hair, because she completed free courses from the international organization for migration. in total, at that time , 30 immigrants who studied in various fields were helped to acquire a new profession with the funds of the japanese government. people who lost. lo, they lost, let's say, their previous life, lifestyle and get in
chair, a underwriting cart should arrive, well, that is, i would equip myself a workplace where it woulde comfortable for both me and the clients, and i also plan to develop it further , also in the process of manufacturing the same place for another master, olga became a regular client of the hairdresser, she also resettled. and says that she met milana at one of the events for idps. i am also very satisfied with the procedures she does for hair, especially the care procedures i want to do it,...
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>> yeah, dam so donald trump has said that he has tried to get bonds from 30 underwriters, no insurers will secure the bond for him. so he can continue to try it to see if he can find someone to step into that position. also, we can look for someone who has a deep pocket who's willing to give him some money. but he also you can talk to banks and see if he can take out a mortgage on some of his properties. but if donald trump has not been able to access the banking system from the largest banks in the world because most of them stopped doing business with him years ago. and another factor here is that part of the issue in this case is the question of what is the actual value of his properties? '40s, the judge found that he'd inflated the value of those properties on financial statements. these are all conditions and factors that a bank would consider in deciding whether to extend credit and they might want to take steps and do additional due diligence to understand the value of a property. of course, this is all within a really condensed timeframe. now with this being just the final and
>> yeah, dam so donald trump has said that he has tried to get bonds from 30 underwriters, no insurers will secure the bond for him. so he can continue to try it to see if he can find someone to step into that position. also, we can look for someone who has a deep pocket who's willing to give him some money. but he also you can talk to banks and see if he can take out a mortgage on some of his properties. but if donald trump has not been able to access the banking system from the largest...
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Mar 15, 2024
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. >> i mean, i guess the question then, shannon, is do we have an economy that's going to underwrite so to speak the earnings growth expectations that are now getting baked? arguably, at least into neighborhood forecasts if not -- into forecasts if not valuations. >> it would appear we still have the support for that. at least if i look at the underlying and the way we're looking at things like pmi data. sure, we're not as strong as we could be. but i would say that if we were significantly stronger in terms of the go-forward outlook for the next six to nine months, that really could potentially take the fed off the table. and i do believe that the fed needsto move here. i think that despite the fact that when we look at financial conditions maybe they're not as restrictive as they should be given the increase in rates that we've had, but they are restrictive in parts of the economy. if that starts to spread, that restrictiveness in credit for small/medium-size businesses, the restrictiveness in the lower income consumer, that could derail this economic growth. so i think that if we
. >> i mean, i guess the question then, shannon, is do we have an economy that's going to underwrite so to speak the earnings growth expectations that are now getting baked? arguably, at least into neighborhood forecasts if not -- into forecasts if not valuations. >> it would appear we still have the support for that. at least if i look at the underlying and the way we're looking at things like pmi data. sure, we're not as strong as we could be. but i would say that if we were...
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capital requirements reflect underwriting.enario where commercial real estate drops instantaneously, there is an effect on the industry which is slowing down capital provision. it's not a bad thing. banks might fail, thousands of banks have failed. is this model change. the quality of the system is strong. paul: that was bank of america ceo brian moynihan speaking with bloomberg. blackstone responded to concerns by shortselling. blackstone increase liquidity to record levels and reduced leverage while maintaining strong earnings. they reveal the short position in the trust and property market woes have gotten worse. >> we are more bearish than we were when we announced the short in december. initially we were only focused on office, but a lot of multi family real estate is troubled. paul: here are the latest corporate stories. maritime says saudi arabia is leading a push into ai and considering a fund of $40 billion, making it among the biggest players. representatives of the fund have discussed a potential partnership with ja
capital requirements reflect underwriting.enario where commercial real estate drops instantaneously, there is an effect on the industry which is slowing down capital provision. it's not a bad thing. banks might fail, thousands of banks have failed. is this model change. the quality of the system is strong. paul: that was bank of america ceo brian moynihan speaking with bloomberg. blackstone responded to concerns by shortselling. blackstone increase liquidity to record levels and reduced...
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this is donald trump himself has been putting forth his own money to underwrite his own legal bills. and this is from amanda, we know as long loathed paying lawyers, he stuffed his lawyers in the past. and so this is a departure for the former president the departure is using his own money to pay his own legal bills. what should tell you something in and of itself, alayna treene. thank you very much for that. sara >> all right. thank you. john, was what do you use your legal bill? i mean, i'm going to handle legal bills what i do, i pay well, i would like to use your money. your money >> john nikki >> haley is celebrating her first big primary win. cnn projects. she will win the republican presidential primary in washington, dc. this victory comes on the eve of what could be a doer die moment for her campaign today, 29 gop delegates in north dakota are up for grabs tomorrow. it's of course the big one, super tuesday, 865 republican delegates will be doled out over 16 states and territories. cnn's kylie atwood is on the campaign trial traveling with nikki haley's team. kiley. is this
this is donald trump himself has been putting forth his own money to underwrite his own legal bills. and this is from amanda, we know as long loathed paying lawyers, he stuffed his lawyers in the past. and so this is a departure for the former president the departure is using his own money to pay his own legal bills. what should tell you something in and of itself, alayna treene. thank you very much for that. sara >> all right. thank you. john, was what do you use your legal bill? i mean,...
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they say that his claim that 30 underwriting companies, insurance companies have turned down the former president for his efforts to try to post this foreign and 64 million dollars bond. they said that's not believable. they also said that the trump's team has not actually presented any documentary proof that this is the case. they also called into question the expert, the underwriting the insurance expert that provided some testimony saying that the trump team's efforts to do this was practically impossible. possible. they say that at a minimum, if the trump team cannot come up with the bond that they could also turn over the trump properties to the custody of the court to satisfy this bond. now we can did get a response from the trump legal team and here's a part of what they said. they said the pretty general's latest filing demonstrates or continued willingness to misrepresent the facts and misconstrue applicable law in her political crusade against president trump. today's mrt iv does does not even bother to cite new york case law. well, as you pointed out, this deadline is fast. a
they say that his claim that 30 underwriting companies, insurance companies have turned down the former president for his efforts to try to post this foreign and 64 million dollars bond. they said that's not believable. they also said that the trump's team has not actually presented any documentary proof that this is the case. they also called into question the expert, the underwriting the insurance expert that provided some testimony saying that the trump team's efforts to do this was...
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they've approached 30 insurance underwriters, none of them are willing to do it. they've explained to the judge that there are two issues that they've run into, even including among the world's biggest insurance companies, many of them have internal limits where they will not post a bond in excess of $100 million and among even some of these bigger players, they're not able to underwrite a bond that is backed by real estate, which is what donald trump has. otherwise, he'd have to come up with about a half $1 billion in cash or stock. trump's lawyers saying that he can't do that. and so they're asking me appeals court to buy them some time and asking them to the appeals court that if there they're going to rule against him to then give him time to appeal to new york's highest appeals court to try to make their case. but the deadline is around the corner. due on monday, then it will wait and see what the appeals court does here. new york attorney general's office has said they're ready to move forward to try to enforce this judgment that could mean moving to try to
they've approached 30 insurance underwriters, none of them are willing to do it. they've explained to the judge that there are two issues that they've run into, even including among the world's biggest insurance companies, many of them have internal limits where they will not post a bond in excess of $100 million and among even some of these bigger players, they're not able to underwrite a bond that is backed by real estate, which is what donald trump has. otherwise, he'd have to come up with...
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but they were willing to underwrite about $100 million bond. this is much closer to $100 million than 500 million. so if you were to use an underwriter would probably be easier time than what he was having before. there's lawyers said they approached about 30 who said that they would not be willing to do so. >> yeah so laura, a trump and his team had argued that the original bond amount that 400 million was unreasonable unheard of. they couldn't get anyone to put up that kind of bond. is the fact that it's been lowered, kind of an acknowledgement that they were right? >> no, i won't read them that for that, the appellate court did not give a reason as to why they lowered the bond. they did not provide. so that did not have to tell us anything that ten day review. but the arguments on appeal about whether it's an excessive fine or whether he ought to have to pay that amount has to do with the underlying facts in this case, the judges findings of credibility and factual based argument he went and also any eighth amendment claim is what he's tryin
but they were willing to underwrite about $100 million bond. this is much closer to $100 million than 500 million. so if you were to use an underwriter would probably be easier time than what he was having before. there's lawyers said they approached about 30 who said that they would not be willing to do so. >> yeah so laura, a trump and his team had argued that the original bond amount that 400 million was unreasonable unheard of. they couldn't get anyone to put up that kind of bond. is...
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now, according to the court filing today the bond underwriters have said that they cannot write a bond for that size of money and 11 of the an insurance underwriter who provided an affidavit for the trump team in this court filing, calling this a practical impossibility. so the cash crunch for the former president is absolutely coming to a head in the next week. >> interesting and ever now there's also news in the georgia election subversion case after friday's major ruling, keeping the district attorney, fani willis on the case. what's the latest there? >> right. wealth while the former president's lawyer see, say dow is asking for permission from judge mcafee in that case for permission in order to file an appeal. now, the judge in making that ruling last week, opened the possibility that this decision to keep final willis on the case to not disqualify 4-5 her from the case. that open that possibility for an appeal. and so that's what the legal team for the defense's the defense teams is now asking they're asking for permission from the judge in order to file that appeal immediately
now, according to the court filing today the bond underwriters have said that they cannot write a bond for that size of money and 11 of the an insurance underwriter who provided an affidavit for the trump team in this court filing, calling this a practical impossibility. so the cash crunch for the former president is absolutely coming to a head in the next week. >> interesting and ever now there's also news in the georgia election subversion case after friday's major ruling, keeping the...
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what we learned yesterday was about 30 insurance brokers who were refusing to underwrite him posting this bond to 464 million right >> when you have lawsuit and you lose like this though you have to figure out something to do and we're seeing that with rudy giuliani, who filed for bankruptcy to try and hold some things off when he got they've similarly extremely large judgment against him in the trump's sphere, though, trump has real estate and the issue with a lot of these underwriters is that they don't want real estate as collateral they want him to post the cash, right? which he saying i don't know, or they're not willing to underwrite me, right. >> as he's a risk. >> well that would be their decision. i mean, the center of writer size. i mean, he did have somebody that is his own insurance brokers say that it is an practical possibility, right? for him to post post a bond like this. >> but there are still a couple of days. he is still going to court and try trying to hold off these appeals. but to answer your question, what happens when the deadline comes and the judgment is fin
what we learned yesterday was about 30 insurance brokers who were refusing to underwrite him posting this bond to 464 million right >> when you have lawsuit and you lose like this though you have to figure out something to do and we're seeing that with rudy giuliani, who filed for bankruptcy to try and hold some things off when he got they've similarly extremely large judgment against him in the trump's sphere, though, trump has real estate and the issue with a lot of these underwriters...
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we know last year they spent more than 50 you $5 to help underwrite donald trump's legal fee. so it isn't very sustainable. and this is something, this is why you're seeing donald trump and his team very concerned about not just the legal fees, he has a bunch of trials coming up. a lot of mounting expenses for that. but also these judgments and everything we're seeing play out with this 455 or 50 do $4 million bond that is due on monday. that's part of why there's panic behind the scenes because all of this together have lagging when it comes to his campaign fundraising numbers. all of his mounting legal bills, those are putting immense financial strain on the campaign and they very much that's why they're meeting with these donors. they need to bring in as much money as they can mean it makes sense instead, as you point out, and that was the graphics are really show right? the devil really is in the details when you look at the difference in fundraising, lena, thank you for us >> speaking of major money and tight deadlines, congress now has until midnight tomorrow to avert a
we know last year they spent more than 50 you $5 to help underwrite donald trump's legal fee. so it isn't very sustainable. and this is something, this is why you're seeing donald trump and his team very concerned about not just the legal fees, he has a bunch of trials coming up. a lot of mounting expenses for that. but also these judgments and everything we're seeing play out with this 455 or 50 do $4 million bond that is due on monday. that's part of why there's panic behind the scenes...
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>> well, because underwriters have to make a financial decision about the new york court system. that's not a bet that voters have to make, right? voters are making a bet based on their own economic condition, whether or not we live in a safer world. and i think we're going to be the chase and prosperity biden is going to be a lot of danger the fact that he's not able to get anyone to help him out here seems to suggest that they don't trust him to be good for this money will know i think it means that they're not >> certain in a successful appeal in the new york legal system. i go ask people for a vote all the time and i probably wouldn't be bondable. it half $1 either, right. and so i think this case, you've got a weaponized system that i mean, even kevin o'leary is out there saying that with tish james pursuing this civil matter in the absence of a real complainant or real business loss, it's making things worse for new york and it's a real perversion of the law. a lot of people disagree >> with kevin o'leary on that one, but i want to ask excuse us. i mean, a conservative broa
>> well, because underwriters have to make a financial decision about the new york court system. that's not a bet that voters have to make, right? voters are making a bet based on their own economic condition, whether or not we live in a safer world. and i think we're going to be the chase and prosperity biden is going to be a lot of danger the fact that he's not able to get anyone to help him out here seems to suggest that they don't trust him to be good for this money will know i think...
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apparently, because of what he's saying or at least what he's saying in court about these underwriters >> so what >> happens when the judgment comes in on monday is that the lawyers they go around and they tracked down the properties and they put liens on them and they seize them. that's how it works. that's how it works in this case. that's how it works. in other cases with judgments, foreignness, $64 million, a lot of money could you imagine the chevron showing up on on monday afternoon with like yellow stickers and slapping them on trump's property. >> i mean, mark, we have seen stranger things in politics in the last few years, but have been politically, i mean, that would be a disaster for democrats, right? because we just be big government goals for democrats, for democrat, i'm looking at this politically not only, no, that's fine >> you're like this. the current current cover of the new york post is not related to this, but i have seen your argument being made on their front pages 0 my god, i think it would not only energize maga voters, it will probably turn off like some indep
apparently, because of what he's saying or at least what he's saying in court about these underwriters >> so what >> happens when the judgment comes in on monday is that the lawyers they go around and they tracked down the properties and they put liens on them and they seize them. that's how it works. that's how it works in this case. that's how it works. in other cases with judgments, foreignness, $64 million, a lot of money could you imagine the chevron showing up on on monday...
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Mar 25, 2024
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so these underwriters are saying no, not just because it's donald trump, but because they've never had to put up that kind of a bog for they were saying they would do $100 million but not 400, million. but again, this all goes to the core of who he is and you're going to see that today. i assume he'll go to the cameras. i assume we'll start talking about at some point that money, that bond, and how he thinks this is unfair. >> is it clear how it affects the appeal itself? because essentially why he had to put up that money is so he could care read the appeal. if he can't put up the money, can he's still appeal this decision? >> yeah. i think you still has the right to appeal, but then that's where the desert attorney excuse me. may the attorney general would move forward right. because she needs that security, so she would move forward to potentially sees either cast cash, assets or buildings and property for days, but he is a field not only the decision itself, but also the amount of bond that he needs to post. we don't expect to get a decision on that today. his lawyers have argued t
so these underwriters are saying no, not just because it's donald trump, but because they've never had to put up that kind of a bog for they were saying they would do $100 million but not 400, million. but again, this all goes to the core of who he is and you're going to see that today. i assume he'll go to the cameras. i assume we'll start talking about at some point that money, that bond, and how he thinks this is unfair. >> is it clear how it affects the appeal itself? because...
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the top 30 banks go to the stress test which in effect says if your underwriting this if your underwritingy, you prove it right before you get a chance. the capital requirements reflect your underwriting today even though recession may never come. it reflects your underwriting commitments in an area where commercial or the state drops instantaneously -- personal over the drops instantaneously. there is any effect which is much more building and slow down the capital provision to these companies but on the other hand is not a bad thing. we feel very good. does that mean banks might fail? there have been thousands of banks that failed. business models change. the quality of the banking system is strong. jonathan: in switzerland, we talked about the change in capital reserve rules. chairman powell appears to back away from that. what is your reaction to what chairman powell has said? brian: we believe we have tremendous amounts of capital liquidity. the stress test, we don't need to keep moving the rules around. as people look at this are sent what is the reason. the u.s. banking system and t
the top 30 banks go to the stress test which in effect says if your underwriting this if your underwritingy, you prove it right before you get a chance. the capital requirements reflect your underwriting today even though recession may never come. it reflects your underwriting commitments in an area where commercial or the state drops instantaneously -- personal over the drops instantaneously. there is any effect which is much more building and slow down the capital provision to these companies...