So, a kangaroo sits on the bench for this trial? How appropriate!
After all, the court has been assigned the task of eliminating threats to a Joey, hasn't it?
And you know that kangaroos look after their joeys!
- Texas Contrarian
- 01-21-2024, 03:24 PM
- Precious_b
- 01-21-2024, 06:50 PM
Another zinger!
Y'all need to start posting in the Comedy Central section.
Y'all need to start posting in the Comedy Central section.
- lustylad
- 03-04-2024, 09:25 PM
So... where do things stand now? This sums it up nicely.
Letitia James Sacrifices the Rule of Law to Get Trump
Her dubious civil fraud suit is more damaging to the market’s integrity than his conduct is.
By Allysia Finley
March 3, 2024 12:22 pm ET
New York isn’t Venezuela, but its political system is going the way of Caracas. Whatever Donald Trump’s financial transgressions, they pale in comparison with Attorney General Letitia James’s desecration of the law in service of destroying a political opponent.
Last week, a New York appellate court rejected Mr. Trump’s petition to stay a legally dubious $454 million civil fraud judgment while he appealed the verdict. Ms. James is threatening to seize Mr. Trump’s properties if he doesn’t pay up by March 25. His appeal suggests he lacks the liquid assets to do so and might be forced to sell or mortgage properties.
It would be one thing if Ms. James were seeking restitution for victims. She isn’t because there are none. Instead she’s seeking financial penalties against Mr. Trump, which Democrats in Albany will spend on rewarding government unions and other political allies. This is the stuff of banana republics.
Ms. James ran for office in 2018 on the promise of taking down Mr. Trump. That she turned up evidence of inflated assets on financial statements he provided banks to obtain loans should have come as no surprise given his penchant for puffery. But her investigation into his vast business dealings failed to produce evidence of fraud.
No bank claimed to have lost money by lending to Mr. Trump, or to have been deceived by his financial legerdemain. Nor did any witnesses at trial say his alleged misrepresentations changed its loan terms or prices. Ms. James’s lawsuit lacked any evidence that Mr. Trump profited from any alleged wrongdoing.
A former Deutsche Bank risk manager testified at trial last year that the bank’s loan decisions were based on its own analysis, not Mr. Trump’s word. Banks know regulators can punish them for failing to do due diligence when underwriting loans.
Before the 2007-08 housing meltdown, banks qualified borrowers for larger loans than they could afford, often based on inaccurate financial records. Regulators later dunned them for slipshod underwriting. Yet Ms. James bizarrely argued that banks have somehow been victimized by Mr. Trump’s alleged misrepresentations even though they made money from the loans.
Because she couldn’t demonstrate that banks relied on Mr. Trump’s misrepresentations—a critical element of common-law fraud—she rested her case on a sweeping state civil fraud law known as Executive Law Section 63(12). The statute substantially mirrors federal criminal fraud statutes.
Yet in the interest of limiting freewheeling prosecutions, federal courts require proof of property loss or damage to prove fraud. The U.S. Supreme Court ruled last year in Ciminelli v. U.S.—a case involving New York public corruption—that misrepresentations aren’t enough. New York courts, on the other hand, have given a broad sweep to the state’s fraud law.
The state trial judge, Arthur Engoron, ruled on Feb. 16 that Mr. Trump’s false financial statements, no matter whether they harmed anyone, deserve to be punished. He required Mr. Trump to “disgorge” $355 million in “ill-gotten gains.” How did he come up with this figure? Financial legerdemain.
Ms. James hired a financial expert, who assessed the “interest rate savings” that Mr. Trump supposedly netted as the difference between what he paid and what he would have paid on his loans had his statements been accurate. The judge then tacked on the profit Mr. Trump putatively made on properties for which he submitted false financial statements.
On top of that, Judge Engoron added roughly $99 million in “pre-judgment interest” dating back to March 4, 2019—the day the attorney general launched her investigation—to punish Mr. Trump’s “corrupt intent or desire for personal profit.” Who cares that the lawsuit was motivated by Ms. James’s desire for political gain and government profit?
Ms. James last week jeered that Mr. Trump owes an additional $114,553.04 in interest to the state each day he doesn’t cough up the moolah. It could be argued that the grossly inflated penalties against Mr. Trump constitute ill-gotten gains for the state. Mr. Trump enjoys playing the victim, and Ms. James is more than enabling him.
If the judgment isn’t stayed or sharply reduced, Mr. Trump will have no choice but to dump his properties in a fire sale. Yet it’s doubtful Ms. James actually wants to seize those assets. That would require the state to operate and maintain them before auctioning them off, which it is manifestly incapable of doing. New York City public housing, Q.E.D.
Mr. Trump’s lawyers rightly argue that the state is trampling the rule of law by “unwinding complex commercial transactions between sophisticated parties” even when nobody has been harmed. What’s to stop the attorney general from doing the same whenever she disagrees with how a bank or business has valued an asset?
Ms. James says punishing Mr. Trump is necessary to preserve the integrity of the financial marketplace. But she’s doing more damage than Mr. Trump is.
https://www.wsj.com/articles/letitia...suit-173963bc?
Letitia James Sacrifices the Rule of Law to Get Trump
Her dubious civil fraud suit is more damaging to the market’s integrity than his conduct is.
By Allysia Finley
March 3, 2024 12:22 pm ET
New York isn’t Venezuela, but its political system is going the way of Caracas. Whatever Donald Trump’s financial transgressions, they pale in comparison with Attorney General Letitia James’s desecration of the law in service of destroying a political opponent.
Last week, a New York appellate court rejected Mr. Trump’s petition to stay a legally dubious $454 million civil fraud judgment while he appealed the verdict. Ms. James is threatening to seize Mr. Trump’s properties if he doesn’t pay up by March 25. His appeal suggests he lacks the liquid assets to do so and might be forced to sell or mortgage properties.
It would be one thing if Ms. James were seeking restitution for victims. She isn’t because there are none. Instead she’s seeking financial penalties against Mr. Trump, which Democrats in Albany will spend on rewarding government unions and other political allies. This is the stuff of banana republics.
Ms. James ran for office in 2018 on the promise of taking down Mr. Trump. That she turned up evidence of inflated assets on financial statements he provided banks to obtain loans should have come as no surprise given his penchant for puffery. But her investigation into his vast business dealings failed to produce evidence of fraud.
No bank claimed to have lost money by lending to Mr. Trump, or to have been deceived by his financial legerdemain. Nor did any witnesses at trial say his alleged misrepresentations changed its loan terms or prices. Ms. James’s lawsuit lacked any evidence that Mr. Trump profited from any alleged wrongdoing.
A former Deutsche Bank risk manager testified at trial last year that the bank’s loan decisions were based on its own analysis, not Mr. Trump’s word. Banks know regulators can punish them for failing to do due diligence when underwriting loans.
Before the 2007-08 housing meltdown, banks qualified borrowers for larger loans than they could afford, often based on inaccurate financial records. Regulators later dunned them for slipshod underwriting. Yet Ms. James bizarrely argued that banks have somehow been victimized by Mr. Trump’s alleged misrepresentations even though they made money from the loans.
Because she couldn’t demonstrate that banks relied on Mr. Trump’s misrepresentations—a critical element of common-law fraud—she rested her case on a sweeping state civil fraud law known as Executive Law Section 63(12). The statute substantially mirrors federal criminal fraud statutes.
Yet in the interest of limiting freewheeling prosecutions, federal courts require proof of property loss or damage to prove fraud. The U.S. Supreme Court ruled last year in Ciminelli v. U.S.—a case involving New York public corruption—that misrepresentations aren’t enough. New York courts, on the other hand, have given a broad sweep to the state’s fraud law.
The state trial judge, Arthur Engoron, ruled on Feb. 16 that Mr. Trump’s false financial statements, no matter whether they harmed anyone, deserve to be punished. He required Mr. Trump to “disgorge” $355 million in “ill-gotten gains.” How did he come up with this figure? Financial legerdemain.
Ms. James hired a financial expert, who assessed the “interest rate savings” that Mr. Trump supposedly netted as the difference between what he paid and what he would have paid on his loans had his statements been accurate. The judge then tacked on the profit Mr. Trump putatively made on properties for which he submitted false financial statements.
On top of that, Judge Engoron added roughly $99 million in “pre-judgment interest” dating back to March 4, 2019—the day the attorney general launched her investigation—to punish Mr. Trump’s “corrupt intent or desire for personal profit.” Who cares that the lawsuit was motivated by Ms. James’s desire for political gain and government profit?
Ms. James last week jeered that Mr. Trump owes an additional $114,553.04 in interest to the state each day he doesn’t cough up the moolah. It could be argued that the grossly inflated penalties against Mr. Trump constitute ill-gotten gains for the state. Mr. Trump enjoys playing the victim, and Ms. James is more than enabling him.
If the judgment isn’t stayed or sharply reduced, Mr. Trump will have no choice but to dump his properties in a fire sale. Yet it’s doubtful Ms. James actually wants to seize those assets. That would require the state to operate and maintain them before auctioning them off, which it is manifestly incapable of doing. New York City public housing, Q.E.D.
Mr. Trump’s lawyers rightly argue that the state is trampling the rule of law by “unwinding complex commercial transactions between sophisticated parties” even when nobody has been harmed. What’s to stop the attorney general from doing the same whenever she disagrees with how a bank or business has valued an asset?
Ms. James says punishing Mr. Trump is necessary to preserve the integrity of the financial marketplace. But she’s doing more damage than Mr. Trump is.
https://www.wsj.com/articles/letitia...suit-173963bc?
- Yssup Rider
- 03-04-2024, 10:52 PM
All this animal talk looks and sounds kinda fishy to me.
LOLLING!
LOLLING!
- eyecu2
- 03-05-2024, 08:24 AM
Everyone needs to look up the definition of disgorgement in the legal sense. So the loss specifically states that I'll gotten gains are forfeited and that penalties to dissuade further actions of improper activity. Trump has not only shown a lack of contrition, but contempt to anyone who will hold him accountable. His little fucking disclaimer doesn't mean Jack shit - when someone asks for factual representation of values, despite those who feel contrary.
Simply put, if you lie on your applications, you'll be held accountable. All Trump had to do was be honest with the valuations and there would be no issues or lawsuits
Simply put, if you lie on your applications, you'll be held accountable. All Trump had to do was be honest with the valuations and there would be no issues or lawsuits
- VitaMan
- 03-05-2024, 08:44 AM
Looks like lustylad won't be commenting again for a while
- 1blackman1
- 03-05-2024, 08:03 PM
Good riddance.
- Why_Yes_I_Do
- 03-05-2024, 08:13 PM
- The_Waco_Kid
- 03-05-2024, 08:32 PM
Everyone needs to look up the definition of disgorgement in the legal sense. So the loss specifically states that I'll gotten gains are forfeited and that penalties to dissuade further actions of improper activity. Trump has not only shown a lack of contrition, but contempt to anyone who will hold him accountable. His little fucking disclaimer doesn't mean Jack shit - when someone asks for factual representation of values, despite those who feel contrary.
Simply put, if you lie on your applications, you'll be held accountable. All Trump had to do was be honest with the valuations and there would be no issues or lawsuits Originally Posted by eyecu2
simply put, Trump didn't lie and disgorgement is irrelevant because Trump didn't profit in any way. the state of New York is the "victim" here or so that cunt James claims. what did NY lose? nothing. no extra revenue or taxes of any kind.
disclaimers don't mean anything? tell that one to corporate lawyers and watch them laugh.
- VitaMan
- 03-05-2024, 09:17 PM
wrong
wrong
and
wrong
wrong
and
wrong
- Lucas McCain
- 03-05-2024, 09:22 PM
Trump lied to get favorable interest rates. He received favorable interest rates because as highly leveraged as he is, he would not have received a loan at 9% interest. Therefore, he did greatly profit from making his debt ratio look more favorable by overstating his assets.
Throwing in a disclaimer is irrelevant if what you are doing is illegal. Or maybe TWK, you think hookers walk free when they get busted by undercover cops by putting that little disclaimer in their ads that says her rate is strictly for her time and companionship and everything else that may happen is between two consenting adults. LOL
Throwing in a disclaimer is irrelevant if what you are doing is illegal. Or maybe TWK, you think hookers walk free when they get busted by undercover cops by putting that little disclaimer in their ads that says her rate is strictly for her time and companionship and everything else that may happen is between two consenting adults. LOL
- The_Waco_Kid
- 03-05-2024, 09:27 PM
wrong
wrong
and
wrong Originally Posted by VitaMan
prove it. who did Trump defraud? NY State? Deutsche Bank? who??
no one. this is a blatant political prosecution that even leftist lunatics like Rachel Maddow admit would all be dropped if Trump drops out of the race.
who did Trump commit a crime against? even by the pissant DemTard standards of corrupt New York and the SDNY and that cunt James this is egregious and all political.
- The_Waco_Kid
- 03-05-2024, 09:35 PM
Trump lied to get favorable interest rates. He received favorable interest rates because as highly leveraged as he is, he would not have received a loan at 9% interest. Therefore, he did greatly profit from making his debt ratio look more favorable by overstating his assets.
Throwing in a disclaimer is irrelevant if what you are doing is illegal. Or maybe TWK, you think hookers walk free when they get busted by undercover cops by putting that little disclaimer in their ads that says her rate is strictly for her time and companionship and everything else that may happen is between two consenting adults. LOL Originally Posted by Lucas McCain
as someone who claims to have an accounting degree from an Ivy League school did you skip the class on asset valuation?
this libtard nutcase judge intentionally took "low ball" valuations to "prove" Trump lied which is bullshit.
if you'd read more about this you'd know that in the case of Deutsche Bank Trump didn't get a commercial real estate loan. he got a private equity loan from Deutsche Bank's high net worth client group.
but you and that judge knew that, right?
and where did you get a 9% interest rate from?
- VitaMan
- 03-05-2024, 10:23 PM
prove it. who did Trump defraud? NY State? Deutsche Bank? who??It has already been proven.
no one. this is a blatant political prosecution that even leftist lunatics like Rachel Maddow admit would all be dropped if Trump drops out of the race.
who did Trump commit a crime against? even by the pissant DemTard standards of corrupt New York and the SDNY and that cunt James this is egregious and all political. Originally Posted by The_Waco_Kid
Based on you comments, you don't understand this case and how the law applies to it. Not even worth trying yet another explanation. It's not rocket science.
- The_Waco_Kid
- 03-05-2024, 10:28 PM
It has already been proven.
Based on you comments, you don't understand this case and how the law applies to it. Not even worth trying yet another explanation. It's not rocket science. Originally Posted by VitaMan
it was "proven" by summary judgement by a retard leftist judge and a prosecutor with an agenda.
once again .. who where the victims?
even democrats see this as a political farce.