disclosures to credit suisse. and the swiss bank was solely responsible for making any disclosures to their investors . he said the loans were always secured against assets and personal guarantees, and were backed up by insurance . he expects. but we understand greensill capital s main insurer won t pay out on imaginary invoices that were never likely to exist. investors are expecting huge losses. we think it s very unlikely that the insurance company will provide coverage in case of default. simply because these are not real invoice, but prospective invoices. it s likely that they will lose around us $2.5 billion for all the credit suisse investors.
but prospective invoices. it s likely that they will lose around us $2.5 billion for all the credit suisse investors. credit suisse says its focus is on returning cash to investors and that 59% has been returned so far. but why did greensill lend other people s money against non existent invoices in the first place? the simple answer is money. on the bluestone deal alone, court documents say $108 million was directly paid back to greensill capital in cash in the form of fees. greensill was a sort of growth company and that meant bigger and bigger and bigger fees. the more it could show
to mar-a-lago and schmooze with the president. that s money that goes into his pocket. will he he s expected there. the secret service has paid $50,000 for tents for the secret service for them at this mar-a-lago new year s eve party. will president trump go? i assume he will want to go. how will things look the next day when there are images of the president in black tie talking to people who paid $200,000 a year for access to the president while people are out of work? this is a dynamic situation. and there is no exit for the president. he s already begging for a fig leaf. $5 billion doesn t build a wall. is just an excuse. there will be a second offer. give us $2.5 billion. eventually give us 1.3. at that point democrats will say do they want to give the president cover and maybe for a lot of reasons they ll want to do that and proclaim it a victory or they won t and make him eat it. but either way there s only one way this ends. trump backs down, no wall. david frum, annie karn
december 31st, new year s eve is coming up. there are people who have paid $200,000 annual membership to go to mar-a-lago and schmooze with the president. that s money that goes into his pocket. he s expected there. the secret service has paid $50,000 for tents for the secret service for them at this mar-a-lago new year s eve party. will president trump go? i assume he will want to go. how will things look the next day when there are images of the president in black tie talking to people who paid $200,000 a year for access to the president while people are out of work. this is a dynamic situation. and there is no exit for the president. he s already begging for a fig leaf. $5 billion doesn t build a wall is just an excuse. there will be a second offer. give us $2.5 billion. eventually give us $1.3. at that point democrats will say do they want to give the president cover and maybe for a lot of reasons they ll want to do that and proclaim it a victory or they won t and make him eat it.
this decision. december 31st, new year s eve is coming up. there are people who have paid $200,000 annual membership to go to mar-a-lago and schmooze with the president. that s money that goes into his pocket. he s expected there. the secret service has paid $50,000 for tents for the secret service for them at this mar-a-lago new year s eve party. will president trump go? i assume he will want to go. how will things look the next day when there are images of the president in black tie talking to people who paid $200,000 a year for access to the president while people are out of work. this is a dynamic situation. and there is no exit for the president. he s already begging for a fig leaf. $5 billion doesn t build a wall. give us $2.5 billion. eventually give us $1.3. at that point democrats will say do they want to give the president cover and maybe for a lot of reasons they ll want to do that and proclaim it a victory or they won t and make him eat it. there s only one way this ends.