Posted on 02/18/2024 5:45:14 AM PST by devane617
New York Gov. Kathy Hochul (D) addressed New York business owners in a new interview and told them there was “nothing to worry about” after former President Trump was hit with a $355 million fine and the inability to conduct business in New York for three years.
Hochul joined John Catsimatidis on “The Cats Roundtable” on WABC 770 AM where she was asked if other New York businesspeople should be worried that if “they can do that to the former president, they can do that to anybody.”
“I think that this is really an extraordinary unusual circumstance that the law-abiding and rule-following New Yorkers who are business people have nothing to worry about because they’re very different than Donald Trump and his behavior,” Hochul responded.
A New York judge on Friday ordered Trump to pay the massive sum in penalties in a civil fraud case. The decision came just weeks after closing arguments wrapped up a months-long trial after New York Attorney General Letitia James (D) sued Trump for alleging he falsely altered his net worth to receive tax and insurance benefits.
(Excerpt) Read more at thehill.com ...
BTW, who does the 350m Trump is to pay going to? There was no loss of money, no victim...So who gets the money?
As long as NY business leaders make large contributions to the Democrat party (and $0 to the GOP), they will be left alone. State-sanctioned extortion.
Any law that can be abused by the government, especially to enrich itself, will be.
There is an old saying that before you pass a law, imagine that the powers granted in it were given to your worst enemy. Only if you are OK with that, should you actually pass that law. Here, we have a gross abuse of a law, one that I believe clearly violates the eighth amendment prohibition against excessive fines, and the reporter in this case was correct: if it can be used against a billionaire former president, it can most certainly be used against anybody else. This is a way for New York to strip its wealthy real estate investors of their hard-earned money, sometimes hard-earned over the course of several generations. This isn’t just about Donald Trump, it is about New York being able to seize wealth from its citizens on a flimsy pretext. These people are communists, even if they don’t admit it.
Were I a wealthy real estate investor, or even the head of a REIT that invests heavily in New York, I would begin to sell my holdings. All real estate investors who are very successful use the leverage of borrowed funds to enhance their returns. Every single one of them gives a rosy picture of what their holdings are worth, in order to maximize the amount of the loan that they are able to obtain. Every bank that loans to real estate investors does the opposite to limit its risk. Nobody’s doing anything wrong, they are just looking out for their own best interests. Banks are, by definition, very sophisticated. As long as you don’t commit outright fraud against the bank, and the bank suffers damages because of that, you haven’t done anything wrong. In this case, Trump paid back every penny, including interest, to his bankers. There is simply no justification for finding him, or any other real estate investor in the same position, guilty of any wrongdoing when there is no harm to be found.
“Rule-following” New Yorkers have nothing to worry about. They just have to think the right thoughts and say the right things according to the Left’s rules of the day.
The letter after the name means jack anymore.
The ONLY reason political parties still exist is to give voters the illusion of choice.
A pol is either loyal to our former republic or to Deep State.
NYS’s pols are Deep State.
Hochul.. a "NE'ER DO WILL" Politician very busy trying to BLOW SMOKE up the Public's A$$!
“Every single one of them gives a rosy picture of what their holdings are worth”
Trump has sought out undervalued real estate at least since he became an adult. Look at his eyes. They’ve gotten a lot of use.
Trump then develops a plan to maximize value and tries to buy the real estate at a favorable price.
Real estate investors like Trump know how to time the real estate market. Investors have owned parcels along US41 here for decades. Only when real estate values are high are the properties offered for sale.
If they don’t like your politics, they go after you. Remember Rush Limbaugh’s experience.
Proof right there. He was singled out. Election interference.
To protect yourself or your business in New York, when taking out a loan, first bring a declaratory judgment action in court to get a court decree stating the value of the assets being put up for collateral for your loan. Specifically ask that the value so determined remain the legal value, regardless of economic or outside conditions through the live of the loan.
If you do not do this, you are at risk for this very suit, as no actual harm need befall any living soul for you to be fined.
Since these costs will be yours to bear, it would be cheaper to start a business elsewhere and get your loans in another bank in another state.
However, this does not mean New York would still not pursue you and your business. Therefore, all activities in New York should be shut down.
“NYS’s pols are Deep State.”
In DC, they are about 85% Deep State, 12% Communist Red and 3% for the productive people.
In NY, they are about 2% for the productive people, about 20% Communist Red and the balance pro-government and pro-public employee union.
The Deep State types know enough to run from Communists. Murphy of New Jersey is Deep State. New York hasn’t been run by the Deep State since Nelson Rockefeller.
Rush said it took 12 years before NY IRS quit auditing him after he left..
Not to worry - because it’s a done deal, in the bag, locked in, the fix is in.
An injustice this MASSIVE is a threat to EVERYONE in the USA.
This is an outrage demanding a complete cleansing of the corrupt judiciary across the USA.
The first thing Americans need to rise up and revoke is immunity for the unlawful acts of judges.
They need to go to prison for those unlawful acts AND be personally SUED for them and have all their personal assets seized upon judgment against them.
We have allowed a judiciary which has elevated itself ABOVE THE LAW. This is a perversion of justice.
If we threw a bunch of them in prison and took away their personal assets for breaking the law, we would certainly have more fairness in the courts.
Hochul is an idiot.
This ruling kills NYC real estate. Instead of market deciding what YOU can ask to sell, the gov’mt can now decide. Try to sell your $1M condo and anybody can go get a judge to issue a finding, without a trial, that the property is only worth $100k.
So, the seller must accept and then the buyer cuts a check for the judge.
NYC taxes tank, so more Fed $$ needed — BeijingBiden will supply.
Serious stock players know it is important to differentiate between current market value and fundamental value.
Warren Buffett spends a lot of time seeking stocks with a wide spread.
I’m starting to think there should be 3 Senators from each State. That might take the edge off
When a full blown communist tells you there is nothing to worry about. RUN FOR THE HILLS, Escape NOW!!!
Turn NY into bud light no trucks no theater no bars no restaurants this is a thousand times worse than bud light
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