If the SPAC is approved this week, he could potentially use the stock as collateral to get a bond and avoid having properties seized or declaring bankruptcy by next week’s deadline.

  • Funderpants @lemmy.ca
    212·
    3 months ago

    Man oh man, these meme stock traders are in for a world of hurt over that valuation. Throwing away their retirement and life savings for Trump.

    • GrymEdm@lemmy.world
      73·
      3 months ago

      I’m worried. It sounds like there is potential here for a lot of MAGA followers to end up losing a lot of money. Yes, they bear responsibility for being so blindly supportive, but if they make themselves destitute it won’t be just their problem. Poor people suffer, their innocent kids suffer, poverty drives crime, violence and extremism… And let’s face it, the states where this would hit hardest aren’t exactly known for their strong social safety nets.

      • Funderpants @lemmy.ca
        6·
        3 months ago

        Yea, you’re right. The knock on effects aren’t pretty and a lot of spouses and kids will suffer. It’s unpleasant.

    • baru@lemmy.world
      4·
      3 months ago

      Or it’s a form of money laundering. Meaning, the people buying are totally ok with it not being worth much at all. It’s just a way to buy Trump.