As you know, Donald Trump was recently hit with a $355 million fine for overvaluing his properties. And if he doesn't cough up the money, New York Attorney General Letitia James, who ran on a campaign of "getting Trump," has said that she's open to seizing Trump's buildings.
I FUCKING CALLED IT pic.twitter.com/yQ5r4zFPFD
— Tim Pool (@Timcast) February 21, 2024
NY AG James will move to seize Trump's assets if he does not pay $355 million fraud fine https://t.co/hbDjevg11X
— NahBabyNah (@NahBabyNah) February 21, 2024
James made the announcement in an interview with ABC News:
DEVELOPING: @NewYorkStateAG Letitia James (@TishJames) tells @abcnews she's prepared to seize Trump's buildings if he can't pay his $354M fine.
— Simon Ateba (@simonateba) February 21, 2024
NOTE - BANKRUPTING TRUMP: If you haven't been paying attention, Donald Trump currently owes $87,500 in daily interest on a… pic.twitter.com/BeaIbAId9g
DEVELOPING: @NewYorkStateAG Letitia James (@TishJames) tells @abcnews she's prepared to seize Trump's buildings if he can't pay his $354M fine.
NOTE - BANKRUPTING TRUMP: If you haven't been paying attention, Donald Trump currently owes $87,500 in daily interest on a half-billion-dollar fine in his Manhattan case.
This interest will continue to accrue until he settles the half-billion-dollar penalty. In other words, every day when you wake up, another $87,500 is added, and the same will happen the following day until he can pay it off. Even if he appeals, he will still have to pay upfront and only potentially get his money back if he wins.
The New York Attorney General has stated that she might seize his buildings if he cannot pay. This is the most effective way to bankrupt someone and prevent them from running for office.
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Even to appeal his case, which he certainly will, Trump has to come up with the fine anyway.
Brian, what's out of the ordinary is for a state AG candidate to run on a platform of "I will unleash all the resources of my office to investigate this man that you hate, even though there are no victims complaining of any crimes" and then doing so and trying to bankrupt that… https://t.co/S7DOI034fc
— Will Chamberlain (@willchamberlain) February 21, 2024
Brian, what's out of the ordinary is for a state AG candidate to run on a platform of "I will unleash all the resources of my office to investigate this man that you hate, even though there are no victims complaining of any crimes" and then doing so and trying to bankrupt that man.
This is not the impartial workings of a well-functioning justice system, this is straight-up Soviet Union, Beria-style "give me the man and I will find you the crime."
From the moment Trump was the Republican nominee back in 2016 we've seen absolutely nonstop lawfare from various elements of the Democratic party and from federal and state law enforcement agencies. Now, 8 years later, it's culminating in these absurd civil judgments combined with an unprecedented four criminal indictments in four jurisdictions in a little more than four months.
And the endless gaslighting from the left and the NeverTrump types - about how "oh this is just because Donald Trump is such a bad man who has committed so many crimes and the prosecutors are just non-partisan beacons of objectivity and how dare you suggest there is anything untoward about this unprecedented lawfare campaign" - is tiresome.
This is the most outrageous abuse of power I've seen in my lifetime. The strangest part is that they no longer even try to hide the fact that it's a political attack on a democratic rival. The American people see what this is and they don't care, that's the scary part.
— Rey Leija (@rey_leija) February 21, 2024
Constitutional law professor Jonathan Turley wrote a column for the New York Post:
It is a curious legal system where defendants can be priced out of appeals. While Trump has ample resources and can do this without a “fire sale,” it suggests that a person could be forced to sell a home to challenge its loss in court. https://t.co/OT6qYwXk8t
— Jonathan Turley (@JonathanTurley) February 21, 2024
Turley writes:
There is also an added inequity to [Justice Arthur] Engoron’s decision.
Under New York law, Trump cannot appeal this ruling without depositing the full amount, including interest, in a court account. Even for Trump, $455 million is hard to come by. Likewise, a bond would require a company to guarantee payment for a defendant who has been barred from doing business in New York and is facing the need to liquidate much of his portfolio.
Nothing succeeds like excess for judges like Engoron. By imposing this astronomical figure, he can make it difficult or impossible for a defendant to appeal, absent declaring bankruptcy or selling off assets at distress prices.
The excessive fine and its basis raise serious statutory and constitutional questions. Many of us believe it should be substantially reduced or tossed out entirely.
First, however, Trump must come up with almost half a billion dollars to park with the court. Even with a bond, the high costs of securing a guarantor could come at a premium. It would cost a fortune to the bond holder just to carry the risk even if Trump prevails on appeal.
This is beginning to sound political.
Everything about this case reeks of unconstitutional overreach
— Joe Doe (@FactChucker9) February 21, 2024
I’m not a legal scholar like yourself but this flies square in the face of the 8th amendment as I read it.
— Big Fish (@BigFish3000) February 21, 2024
What is far more curious is that prominent legal scholars never seem to discuss the consequences to jurists who enable these egregious rulings.
— A Boy and his Dog (@adamludwick1) February 21, 2024
Because there are none? What non-menial, non-administrative consequences does "Judge" Engoron face?
It's infuriating. And it just seems like there's nothing we can do about it - Dems have turned Trump into this evil cartoon villain who they think they need to stop at any cost. It's ridiculous. It would be funny if it wasn't so serious.
— Z-Twig (@ztwiig) February 21, 2024
Political from the jump! 😡
— Eliza Johnson (@elizjohns13) February 21, 2024
This was always the goal. Any way to get Trump, which she campaigned on. This is a political witch hunt.
— Ellie A (@EllieGAnders) February 21, 2024
She definitely violating the 8th amendment if she goes that way
— Stephen Yeboah (@elstephanio) February 21, 2024
Keep it up. It only shows America how corrupt they are. Helps Trump with voters. Thanks!
— Bronconation (@Bronconation_80) February 21, 2024
Trump is also banned from running a business in New York for three years.
No one will want to do business in New York again.
— Robin Valencia (@rvalen81) February 21, 2024
This will backfire, BIGLY.
The verdict was so outrageous that Gov. Kathy Hochul made a statement telling business owners they have "nothing to worry about." It's just Trump. Why any real estate developer would go near New York after this is a mystery.
The moral to this story is get the hell out of New York and the sooner the better.
— gummer (@gacnmac) February 21, 2024
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