Giving up liquid cash is also bad as it limits your options.
He can’t use this money for anything else now as he had to collateralize it. He’s still able to earn interest as its his account, but he can’t use it for the election for example. And no one would lend him money against it because he might lose it.
If he’d been a trustworthy person, he’d still have 100% control of that cash.
Yes, but the article states that the bond was collateralized by $175 MM in cash—so it must have already been cash or liquidated anyway.
Giving up liquid cash is also bad as it limits your options.
He can’t use this money for anything else now as he had to collateralize it. He’s still able to earn interest as its his account, but he can’t use it for the election for example. And no one would lend him money against it because he might lose it.
If he’d been a trustworthy person, he’d still have 100% control of that cash.
It’s not a good situation to be in for anyone.
He also can’t touch that Schwab account so it’s just the same as putting up the bond himself
Can’t or legally can’t?
I imagine since it’s his account he might be able to somehow run off with it, but in so doing would be breaking the law?
That’s also my guess. May be monitored.
And we all know how harshly he gets punished for breaking the law.