US Election Countdown – Breaking News
Trump Receives $175 Million Bond Backing from Auto Loan Billionaire Don Hankey
Good morning and welcome to US Election Countdown. Today we’ll be discussing the latest developments in the US election campaign. Don Hankey, a billionaire and the founder of Knight Insurance, has recently come to the aid of former president Donald Trump by personally underwriting a reduced $175 million bond.
This bond has played a crucial role in preventing the New York state from seizing Trump’s valuable assets while he appeals a $464 million fraud judgment. Trump’s lawyers had faced significant challenges in finding an underwriter for such a large amount, with 30 surety companies refusing to get involved.
Hankey, known for his success in the subprime auto loan industry, revealed that Trump provided cash and bonds as collateral to Knight Insurance. However, the exact cost of the bond for the former president remains undisclosed. While Hankey stated that his decision to underwrite the bond was purely a business one, it’s worth noting that he is a Republican donor with a history of supporting Trump’s political endeavors.
In addition to his involvement in the insurance industry, Hankey holds a $200 million stake in Axos, an online-only bank that happens to be one of Trump’s major lenders. Despite Hankey’s success, his companies have faced accusations of dishonesty in the past. In 2015, Westlake Services and Wilshire Consumer Credit, two companies associated with Hankey, were ordered to pay almost $50 million in combined restitution and fines for misleading practices.
To learn more about Don Hankey’s financial empire and his role in supporting Trump, follow this link.[This link needs modification – not functional.]
Campaign Clips: The Latest Election Headlines
- Partisan sites funded by dark money are masquerading as legitimate local news outlets, and they’re getting more sophisticated ahead of November’s election. Read more. [This link needs modification – not functional.]
- Fed chair Jay Powell has emphasized that the US’s inflation fight is not done, addressing voters concerned about higher interest rates. Read more. [This link needs modification – not functional.]
- Joe Biden’s relationship with corporate America is complex as he balances listening sessions with executives and his tax and regulatory plans. Read more. [This link needs modification – not functional.]
- The Trump campaign and the Republican party collectively raised $65.6 million in March, ending the month with $93.1 million in cash on hand. Read more. [This link needs modification – not functional.]
- A new poll suggests that Trump is leading Biden in six out of seven swing states, with the president enjoying an advantage only in Wisconsin. Read more. [This link needs modification – not functional.]
- NATO is planning a $100 billion “Trump-proof” defense fund for Ukraine, a move opposed by the Republican frontrunner who prefers indirect aid for Kyiv. Read more. [This link needs modification – not functional.]
Behind the Scenes
A vigorous Trump arrived from neighboring Michigan, another Midwestern battleground state, and played the standards. He saluted his patriots while vowing to defend them against communists, fascists, Marxists, squatters, the fake news media, and to the crowd’s greatest delight — illegal immigrants.
“We’re going to have the largest deportation ever,” the former president promised, as the crowd roared. (“Get ’em out of here!” someone shouted.) Trump also drew particularly strong reactions when promising “to keep men out of women’s sports” and stamp out critical race theory.
“The people are what make it,” Melissa Sample, 56, a bar owner who drove three hours from LaCrosse, Wisconsin, said of the unique atmosphere of a Trump rally. Afterward, as the snow fell outside, she lingered by the stage, talking with new friends who shared her love for Trump. “Everyone was like family”, she explained.
Datapoint
Going beyond the highly publicized race between Biden and Trump, it’s important to remember that there are other presidential candidates. Alongside the Democratic and Republican nominees are independent contenders like Robert F. Kennedy Jr. and Cornel West, as well as the Green Party’s Jill Stein. The presence of third-party candidates poses a potential threat to major parties, as it can influence the final outcome in closely contested races. For instance, Kennedy presently holds 10% of voters’ support, as shown in a RealClearPolitics polling average. Although Kennedy faces a challenging path in terms of ballot access, his impact may be significant in battleground states like Arizona, Georgia, Michigan, Nevada, Pennsylvania, and Wisconsin.
For more information on third-party candidates and their potential impact on the election, please follow this link. [This link needs modification – not functional.]
Viewpoints
- Edward Luce stresses the need for Democrats to leverage their advantage on the abortion issue and turn it into Trump’s Waterloo. Read more. [This link needs modification – not functional.]
- Simon Kuper argues that billionaires’ support for Trump is politically naive. Read more. [This link needs modification – not functional.]
- Martin Wolf highlights the superiority of democracy over autocracy, especially as the appeal for tyranny continues to grow globally. Read more. [This link needs modification – not functional.]
- According to Jim Geraghty, Kennedy’s success primarily depends on being listed as a candidate in the six crucial battleground states of Arizona, Georgia, Michigan, Nevada, Pennsylvania, and Wisconsin. Read more. [This link needs modification – not functional.]
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