Donald Trump reportedly used a bail bondsman after being arrested at Fulton County Jail in Atlanta, Georgia, on Thursday, paying $20,000 of his bond set at $200,000 and taking out a loan for the rest of it. The fact that the former president resorted to such a measure has sparked questions on social media about the state of his finances.
I’m wondering if his entire life just runs on lines of credit and he never really has any cash on hand. If that’s the case, he’s such a poor credit risk, he might be paying close to 10% interest on his credit anyway, so a bond that he only has to pay 10% on and might last more than a year may actually save him money if he would have had to draw on a line of credit for the $200K.
That’s a good point.