Posted on 11/08/2023 7:39:16 AM PST by SoConPubbie
Tempers flared today as former President Donald Trump testified today in the civil fraud prosecution against him by New York Attorney General Letitia James. Arthur Engoron – the far-left Manhattan Supreme Court Judge overseeing the trial – lost his temper at several points, slamming his hand on a court room table while yelling at Trump defense attorney Alina Habba.
For nearly five hours, the former President of the United States faced off under cross examination against prosecutors from the New York Attorney General’s Office. Letitia James herself sat in the front row observing the proceedings. Trump pushed back against the prosecutors, questioning why the case ever moved forward when not one of his lenders claimed financial injury or harm. “We’re trying to figure out, why are you doing this,” the former President pondered in response to questioning by state attorney Kevin Wallace. “No one understands it. Well, I understand it — it’s called pol-i-tics.”
At one point, Wallace pressed Trump as to whether he had actually paid off all of his loan agreements with lenders, asking: “We’ve seen multiple loan agreements, and your signature. You paid all these off?” Trump fired back, “Yes. With cash… I think this case is a disgrace. People are leaving New York due to this kind of thing. The only complainant is you.”
The prosecution’s examination veered far afield with Trump being questioned regarding the number of homes included in the valuation of his golf course property in Aberdeen, Scotland. It was unclear what legal interests or purview the New York Attorney General’s office has with loan agreements in the United Kingdom. When Trump defended the value of his Aberdeen property as it sits in the midst of one of the most oil rich regions of Europe, Judge Engoron declared that location is “irrelevant” to the value of property.
In the most heated moment of today’s testimony, Judge Engoron demanded Trump’s defense team step in and rein in the former President’s lengthy responses: “I beseech you to control him. If you can’t, I will. I will excuse him and draw every negative inference.”
Trump attorney Alina Habba suggested the prosecution should instead ask better questions. It was at this moment that Engoron lost his cool and slammed his hand down on a table and shouts at Habba, “SIT DOWN!” Before the prosecution could continue with questioning, Trump responded to the heated exchange saying, “This is a very unfair trial.”
Again...I don’t understand how this even came to trial. It’s a private transaction between two parties and both are satisfied with the outcome. I’m sure the lender did its due diligence with respect to the collateral for the loan and the borrower was satisfied with the terms of the loan. Under what legal means can the gov’t, at any level, interject itself into the transaction when neither party complains. What’s the legal precedence?
There is no hard formula to determine the value of something. What something is worth is largely a function of utility to the buyer. Something one person considers to be high value may not have much value to another. Value is in the eye of the beholder.
No one willingly undervalues anything they want to sell. We all want as much as we can get for it.
Myriad factors affect real estate prices. Far too many to variables to factor into a neat equation. Even in discounted cash flow analysis there are underlying assumptions that can radically affect the net present value.
This whole trail is a sham. Just an abuse of the judicial system.
No he didn’t.
Petty little dictator Judge doesn't care about truth or law, he just wants to rule over people.
This is a microcosm of the larger problem we have in our legal system. If a judge can just "draw every negative inference" to suit his own whims, it isn't justice, it's subjugation.
Too many judges just make up their rulings to conform to what they want, and they don't really care about justice or the law.
No one complained, no one was injured, it is incumbent on the lender to be satisfied with the collateral and they were, the disclaimer of these being good faith estimates by the borrower was made and accepted. There was no challenge to the valuations made at the time of the loan. No fraud was perpetrated because the estimates by the borrower were accepted as just that, estimates to be accepted or rejected.
The higher profile Trump makes this the more ridiculous it becomes.
Merely consider the stock market ups and downs. Do they mean that the value of the entire enterprise on that day has changed? Of course not. The selling price on a given day is that determined by factors between buyer and seller at that particular time for those particular people.
This whole trial and every other pending action against Trump make a mockery of justice. What a sham. What a shame. What crimes these are.
A very good example there.
If you look at P/E’s some investors are willing to pay a premium for what they perceive as companies with quality earnings and/or stability. Or maybe they just like the industry and trust company management to make the right moves to increase shareholder value. Or they place a high value on consistent dividend growth. Whatever, the list of reasons for paying what they do goes on and on.
Risk and volatility also have a big impact on stock prices.
What this judge is trying to do is absurd. He’s exhibits an amazing degree of ignorance about the underlying concepts of valuation. I bet he never undervalued any real estate he himself may have sold.
” location is “irrelevant” to the value of property.”
Huh?
(location is everything)
It came to trial because it has nothing to do with justice. Letitia James ran for office on a very simple campaign platform: "I'm gonna get Trump!!!" That's it. Nothing more.
Now she's fulfilling her campaign promise.
That Engoron creature is her tool.
And nobody in any position of authority over either of them is going to do anything about it.
We’ve seen multiple loan agreements, and your signature. You paid all these off?” Trump fired back, “Yes. With cash.
Beautiful now Wallace knows what a turkey feels like getting stuffed.
Do you think any relevant knowledge matters one whit to him or Letitia or anyone else in the prosecution? They are on a mission from their handlers and think they have latched on to a bone.
Location
Location
Location
He has an "interesting" background ...
He was a "boisterous" Viet Nam war protester, which should endear him to some folks around here.
Spent some time in private law practice with a couple of firms. Also spent some time as a professional musician and music teacher. I was expecting a lifetime of government employment ... that's the usual way with abysmally ignorant politicians.
Got into judicial politics in the early 1990s, and became a member of the leftist ACLU.
None of which leads to any meaningful knowledge of real estate. He's way out of his league, but it doesn't matter. He's a leftist with a protected minority background ... he can get away with anything.
“I don’t understand how this even came to trial. It’s a private transaction between two parties and both are satisfied with the outcome.”
This is how, Executive Law 63(12):
“Whenever any person shall engage in repeated fraudulent or illegal acts or otherwise demonstrate persistent fraud or illegality in the carrying on, conducting or transaction of business, the attorney general may apply, in the name of the people of the state of New York, to the supreme court of the state of New York, on notice of five days, for an order enjoining the continuance of such business activity or of any fraudulent or illegal acts, directing restitution and damages and, in an appropriate case, cancelling any certificate...and the court may award the relief applied for or so much thereof as it may deem proper.
The word ‘fraud’ or ‘fraudulent’ as used herein shall include any... misrepresentation...”
Notice lack of intent, reliance, or even the existence of a victim from the ridiculous definition of “fraud” in this statute.
^^^^^^^ Was that law enacted in order to get President Trump?
Trump should present a certified appraisal of Mar A Largo. Can the court dismiss that?
Has the judge ever been to Detroit?
Check his “Early Life” section.
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