This week, Donald Trump’s lawyers admitted that he’s failed to secure a bond to cover the half-a-billion-dollar penalty he faces in his civil fraud case in New York. As The New York Times delicately noted, “he does not have enough liquidity” to persuade any company to provide that bond. Translation: He doesn’t have the cash. This is humiliating to Trump, relative to his self-mythology. But it also points to his broader, largely-overlooked weaknesses in the 2024 campaign. We discussed this with The New Republic’s Timothy Noah, author of a great new piece on Trump’s financial travails that predicts he will soon declare bankruptcy.
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