Letitia James Calls Out Trump's Funding Move: 'Reckless and Dangerous'

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Letitia James Calls Out Trump's Funding Move: 'Reckless and Dangerous'

//politics-government.news-articles.net/content/ .. trump-s-funding-move-reckless-and-dangerous.html

Published in Politics and Government on Tuesday, January 28th 2025 at 8:20 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The New York attorney general commented after the White House budget office ordered a temporary pause on federal grants and loans.

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New York Attorney General Letitia James has criticized former President Donald Trump's recent move to secure a $175 million bond from Knight Specialty Insurance Company as "reckless and dangerous." This bond was posted to prevent the immediate collection of a $464 million civil fraud judgment against him. James expressed concerns over the financial stability of Knight Specialty Insurance, noting that it is not authorized to issue such bonds in New York and has a relatively small surplus. She highlighted the potential risk to the public if the company fails to meet its obligations, especially given its limited experience in handling such large bonds. James has requested that the court ensure the bond is backed by secure assets and that Knight Specialty Insurance provides monthly financial statements to monitor its financial health.

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