I keep reading stories about the 30 companies that are not willing to bail Trump out. It would be a good idea to keep your expectations in check.
What the current story line misses is that negotiations likely continue, and in hardball negotiations it isn’t time yet for the best deal. Not for Trump, for the bond issuers.
The closer he gets to Monday the more leverage they have. I expect to see a deal sometime over the weekend after they have squeezed every drop of juice from that moldy old orange. Why would they say yes now while there is more to be had in an eventual deal?
This is how disaster capitalists routinely do business, and TFG is court certified disaster. Find someone who is desperate and keep retrading until the very last minute and dollar.
Donnie — he IS desperate and grows more so every day. So if I were sitting on the other side of the table I’d be saying nyet until some time Saturday morning and then let the lawyers paper it for a Sunday announcement. Monday’s appeal gets filed at the last minute.
There is a deal to be done, but it will brutal. It could and does happen to nicer guys, but in this case it is well earned. We can only hope that part of that deal doesn't include our national security secrets.