Posted on 02/19/2024 7:11:27 AM PST by JV3MRC
One of ABC’s legendary Shark Tank investors dismantled the logic behind a radical judge’s asinine ruling against former President Donald Trump.
Kevin O’Leary — a.k.a “Mr. Wonderful” — called the ruling by leftist New York State Supreme Court judge Arthur Engoron an egregious “assault on the 11th sector of the S&P 500, which is real estate” during the Feb. 18 edition of Fox & Friends Weekend. Engoron fined Trump $355 million for allegedly inflating his assets and banned him from being an officer in any New York-based corporation for three years, despite “nobody” losing money, as The Wall Street Journal editorial board pointed out. O’Leary analyzed the whole event as an overexaggerated demonization of a common practice within the corporate world when real estate developers haggle with banks in order to get loans. “This is not about Trump anymore,” O’Leary concluded. “If you’re a developer and you see this happen in the state of New York, why would you take the risk to put up this much money and have a judge arbitrarily decide that you are in some form of breach of fraud when no damages occurred at all?” In O’Leary’s view, “This is crazy!”
(Excerpt) Read more at newsbusters.org ...
Talk is Cheap Mr Wonderful, If you really want to make an impact, begin immediately liquidating and closing all business interests you have in New Yoeh, a whole lot of people will follow you if you do this. Put your Money where your Mouth is and sit back and watch the Stampede out of town...
[...begin immediately liquidating and closing all business interests you have in New Yoeh...]
Don’t think for one moment that there are not conversations in board rooms all over NY today. Whether that means incorporating in a state that is NOT NY, to moving the HQ out of the state.
Florida and Texas will be getting some new residents regardless,
Way to speak out to this abuse of power. You no longer own a home if a judge decides he does not like the transaction.
Didn’t Rush once say he was continuously audited for taxes by the state of New York for over 10 years after moving out and to Florida?
That’s a ridiculous solution. Go after the Legislature and the Governor...
Too late. This ruling overrules any market pricing mechanism for real estate. NYC gov’mt is now in charge of the value of your private property.
Insurance companies and mortgage brokers will start to devalue all property. Your collateral is no longer valid on that loan you got — pay up NOW!
NYC property taxes will tank — so Mayor Adams, time to fire more coppers.
The New York governor basically admitted that it was just Donald Trump and other people don’t need to worry but if they can do it against one they can and will use it again.
How can there be fraud if the "victim" was not only free of damage but did not rely on the "perpetrator's" representation?
Not only does this case not follow the objective definition of fraud, it awards damages that have no discernible foundation.
’ they’ dont like you ? they can take all your shit ?
to each according to their..comrade.is what it is... if he would have just acted as a good woke promoting soviet citizen they would have let him profit as much as he could grift just like them. .
Add to those two points, three additional points.
The "victims" weren't the plaintiffs.
The "perp" included a huge disclaimer.
Valuations are subjective.
If it’s just Donald Trump, then it’s effectively a bill of attainder, and the admission from the Governor should result in the judgement being instantly voided.
But that won’t happen.
BTTT
When I moved from Texas to Ohio in 1990 because of my job, I sold my house in Texas. The new owner assumed my mortgage and I financed the equity at 10% based on a 30-year loan for 5 years. Basically the new owner paid me the interest each month and the equity at the end of the 5 years. The guy was the absolute best, never missed a payment including the balloon payment at the end.
I bought a house in Ohio, and when I got to closing, the bank officer says, “Hold on here. You still have that house in Texas that could fall back into your lap. We can’t close with that hanging over your head.” So I told him I would be willing to put 6 months worth of mortgage payments into an escrow account that they could manage, and if the Texas guy defaulted, I would have 6 months to sell the Texas house again. No dice. So I said 1 year. Again, no dice. So I said, “Fine, I don’t need you F****rs, I’ll just pay cash for the Ohio house!” And I walked out. That bank guy chased me down in the parking lot and we closed on the Ohio house - without the escrow offer.
Everyone plays hardball with the banks.
I think you are correct.
At least Rush was wise enough to get out before he died
NY is so desperate for tax revenue, the buzz is, if you buy gas at a NY gas station driving
through on your way home to say New Jersey, they will send you a tax bill for the next 20 years.
As Elon Musk said, “who gets the $350 million?”
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