Posted on 02/19/2024 8:26:54 PM PST by SeekAndFind
The $350 million decision against former President Donald Trump in a high-profile civil fraud case has sparked a lot of reaction.
One of the people who found the decision outrageous was Shark Tank's "Mr Wonderful" Kevin O'Leary.
Previously O'Leary had laid out how ridiculous the case was.
Kevin O'Leary, "Mr. Wonderful" went on CNN and absolutely DESTROYS Letitia James' case against Trump:
“Every single real estate developer everywhere on Earth does this…Who lost money? Nobody! If you’re gonna sue this case and win, you gotta sue every real estate developer… pic.twitter.com/OM8Gq7s4iG— Charlie Kirk (@charliekirk11) January 12, 2024
"Every single developer everywhere on earth does this," O'Leary said about putting the best light on the value of your properties.
O'Leary said it was completely normal in real estate and that there were no victims in this case, arguing that it makes no sense. If you go after Trump, he explained, you'd have to sue all the real estate developers everywhere because they all do the same thing. He didn't think there was a chance that the decision would survive on appeal.
That, of course, raises big questions when Trump is being pursued when others aren't for a completely normal thing.
Then, when the decision came in on the damage award on Friday, O'Leary went on Fox and said how bad this was, "I'm shocked. I can't understand or fathom the decision at all. There's no rationale for it."
🚨NEW: Shark Tank's Kevin O'Leary condemns AG Letitia James and Judge Arthur Engoron's corrupt and baseless ruling against Donald Trump.
🔥🔥🔥
"I would NEVER invest in New York now! And I'm not the only one saying that!"
"This $4 billion data center I'm talking about - not a chance I would put that in New York! Zero probability! Never!""I'm shocked at this. I can't even understand or fathom the decision at all. There's no rationale for it."
"Every investor is worried because where is the victim? Who lost money? What does this say about the legal bar in New York? Aren't they going to question this judge?"
"$355 million as a penalty plus interest at 9%, and there's no victim?"
O'Leary said Governor Kathy Hochul's "words fall on deaf ears to everybody. There's nothing she can say to justify this decision."
"This is a New York problem now." pic.twitter.com/jJ1JNYHbdS— KanekoaTheGreat (@KanekoaTheGreat) February 19, 2024
He opined that New York and California were already "loser states" because of bad policies, high taxes, and uncompetitive regulation. Now on top of that, they have to worry about something like this.
"I would NEVER invest in New York now! And I'm not the only person saying that!" O'Leary declared.
He explained how one of the hottest things right now is data centers and that NY with Niagara Falls would be ideal for that. But he said he would never put one there.
"This $4 billion data center I'm talking about - not a chance I would put that in New York! Zero probability! Never!"
O'Leary was looking at places like Oklahoma that were more receptive. He thought everyone else was going to have the same concerns about putting their money in New York with decisions like this. He believed New Yorkers should be questioning this because of how this was going to hurt investment in their state.
Neil Cavuto asked about what Gov. Kathy Hochul said about this decision not affecting other businesses.
"Every investor is worried because where is the victim? Who lost money? This is some arbitrary decision by a judge. What does this say about the bar, legal bar in New York? Aren't they going to question this judge? What is this??
$355 million as a penalty plus interest at 9%, and there's no victim?
Her words fall on deaf ears, there's nothing she can say that will justify this decision."
Is it any wonder that people believe that Trump is being politically targeted when you have actions like this and when you have damage awards of this magnitude that are unhinged from all reality?
Hochul may protest, but this is one more reason that people are going to be fleeing the state.
Related:
Ping.
In essence Hochul’s saying “There’s nothing to worry about, this was political!”.
Glad we got out years ago.
NY is also making some really bad decisions that are affecting local/regional banks. Not a safe place to keep your money.
So what exactly, keeps it from being political in any other case either?
And everyone knows the answer is *NOTHING!*.
They’d proved the old adage that if they can do it to him (Trump) they can/will do it to anyone. That’s EXACTLY the point of making an issue with a high profile person like him. The democrats are absolutely sending a message whether they like it or not and whether they think so or not. No matter how much they deny it.
NOBODY is off limits to them.
DEFUND NY. if you have insurance through a NY carrier, switch. If you have a credit card through a NY back, switch. Same for bank account, investment funds.
If all Republicans do tbis, NY will have less tax revenue
In Trump’s case the Judge defied all legal precedents
<><>by convicting on a charge of fraud
<><>where there was no criminal or illegal conduct
<><>there was not even the slightest hint of fraud
<><>and no attempts to commit fraud by anyone in the Trump organization.
DA Leticia James turned Consumer Protection laws upside down. The law is intended to protect consumers who have no way to help themselves from predatory lenders, so they turn for help to l/e.
In this case, Trump is the one accused of preying on lenders....very sophisticated lenders who are fully capable of protecting themselves.
Lenders who haven’t asked the attorney general for help.
Syracuse University law professor Gregory Germain said that the “attorney general’s job is to protect people who can’t protect themselves.”
Judges are going to have to look carefully at what the powers of the attorney general are here.
Are they so broad that she can invert the law to keep a campaign promise to “get Trump?”
Is she empowered to look at a financial statement, decide what is a “lie” (that nobody believes), then put someone out of business?
“....If you’re gonna sue this case and win, you gotta sue every real estate developer….....”
That is the heart of the matter. This is selective prosecution based on political motives. There is no “equal” justice in the state of New York.
An atrocity and perversion of the justice/legal system if ever there was one.
Do not do business with ANY NY based business. I became a depositor of M&T Bank and I’ll be moving to Webster Bank. Also, Key Bank which has my business account I’ll be moving to PNC
I had one client (owned 7 banks) tell me, "Never show me a bond or corporate bond from a business in a state that voted for Hillary or Biden". Maybe he was right.
As the commercial real estate bubble bursts and the resulting bank failures occur, NYC will be screaming for a bailout. President Trump will be loathe to lend his support to any such legislation and may even veto any banking bailout bill. He could put his political weight behind the Federal government funding existing and new regional banks, which are located evenly around the country.
I wouldn’t invest in New York, especially the city, even without the Trump spectacle.
New York City is like an ageing car. Sooner or later the maintenance costs reach the point where it’s best to junk it.
Yes, but as they flee, the replacements for the lost population (aka invaders, migrants illegals) are pouring in. Its a matter of redistricting.
that would be the best thing, conservative businesses pull out of NYC and state. Break the F’n state.
“That is the heart of the matter. This is selective prosecution based on political motives. There is no “equal” justice in the state of New York.”
Every business in NY which are owned by Republicans should announce they are leaving the state for a better business climate. And announce how many people are going to lose their jobs because of it.
Kill the chicken to scare the monkey
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