Saturday, December 09, 2023

After the Phony Lawsuit Against Trump in New York, Smart Companies will Relocate

Any reasonably unbiased person studying the lawsuit brought against Donald Trump and his companies by woke, leftist zealot, New York Attorney General Letitia James, would arrive at the conclusion the action is entirely politically motivated.

At the heart of the case, James contends that Trump secured funding for various real estate projects by committing fraud and overstating the value of his assets to banks and lenders by $2.2 billion. Due to this alleged deception, James argues that the people of New York were somehow harmed, except she can’t provide the name of a single person or business that suffered any sort of loss, financial or otherwise.

Every bank and lender referenced in the lawsuit was paid back in full, which leads to the question of how someone can commit fraud when there are no victims?

Assets are notoriously difficult to value since they can fluctuate significantly over a short period. Also, they can be valued differently depending on who is doing the appraisal. That’s why large companies always include a disclaimer encouraging the lender to perform their own due diligence instead of relying exclusively on the borrower’s asset statement. James’ lawsuit assumes that sophisticated lenders were either too stupid or too lazy to analyze the value of Trump’s holdings on their own.

Election Interference

The Deep State has access to unlimited resources they use to destroy their opponents through the weaponization of the judicial system, and it’s not a new phenomenon. The use of overvaluation of assets to levy fraud charges goes back as far as the 1990s, when the left used the same type of loan fraud charges Trump faces to remove Arizona Governor Fife Symington from office.

Symington threatened the left’s stranglehold on education, implementing sweeping reforms that essentially ushered in an era of charter schools. Despite intense criticism from the RINO and liberal base in the state, Symington refused to back down, and in the same manner James pursued Trump, he was charged with fraud and accused of overstating his assets to secure various construction loans. Ultimately, Symington was convicted on seven counts of bank fraud, filed bankruptcy and was forced to resign.

From an election interference standpoint, the persecution of Trump has two purposes: While Trump is preoccupied with depositions, interrogatories, lawyers and trial dates, he’s not on the campaign trail. Woke leftists hoped that the act of filing the lawsuits alone would result in Trump’s base abandoning him, but the opposite happened. So, the next best hope is that his unavailability to campaign will allow his competitors to catch up in the early primary states. So far, that hasn’t happened either.

Crippling Trump Financially

Below the headlines and self-righteous rhetoric from the Attorney General’s office, there is a more hidden, sinister motivation. According to Forbes, Trump’s net worth currently stands at $2.2 billion, down from $3.6 billion the previous year. Trump disputes the Forbes number, but would anyone really be surprised if his net worth actually did decline amid all the bullshit these leftist fanatics have thrown at him since 2016?

James is angling for a fine of $250 million, about 11% of Trump’s net worth. Additionally, James wants the Trump Organization’s certificates revoked, which would essentially have the effect of forcing the company to dissolve its New York operations, where Trump has the majority of his holdings.

Essentially, they are looking to cripple him financially.

Since they successfully ran America’s toughest sheriff, Joe Arpaio, out of office by filing so many lawsuits that voters got tired of the expense and drama, woke leftists have incorporated civil litigation in the arsenal they unleash on non-conforming American patriots. In fact, they have used this strategy to ruin 11 Trump associates financially. It’s a form of public intimidation meant to squelch dissent. In other words, if they can ruin Paul Manafort and Roger Stone by weaponizing the judicial system, what do you think they’ll do to you if you step out of line?

While the “sue them into submission” tactic has been wildly successful, the left has still not figured out how to silence rogue billionaires, who are the only class with sufficient assets to fight a corrupt government in court. Thus, the New York case is the first in a series of tests to see if fictitious charges filed in heavily leftist districts will exact enough of a financial toll that even a billionaire will wilt under the relentless pressure and infinite resources of a dishonest government.

If this charade works against Trump, look for the left to put Elon Musk in their crosshairs.

The Chilling Effects on Business

If I was the governor of New York, I’d be terrified of the precedent that my Trump-hating Attorney General is setting. Literally campaigning on a “get Trump” platform, James has fulfilled her mandate, and in the process, sent a sobering message to the business community that if your politics aren’t acceptable, the leftist legal system will be used against you to ensure your financial ruin.

Regardless of ideology, any corporate CEO with an ounce of sense would avoid opening a store in New York like the plague. As woke sensitivities heighten, and their thirst to find new policy violators intensifies, who knows what inadvertent, politically incorrect slip up a business owner might make to find himself the victim of phony charges and a predetermined outcome in court.

With its crime, drugs, homelessness, filth and decay, New York has already lost much of the luster that made it the equivalent of Rome during the height of its power and prestige. Adding overt persecution of political opponents through the manipulation of the judicial system may be the tipping point in the continuing decline of a once great city.