Blowback to the attacks on Trump
NY Attorney General Letitia James ran on a campaign of “getting Trump”. Two days ago, Joe Biden attacked his political rival with the full force and power of the Federal Government dispatching 30 FBI agents to raid his home in Florida.
The goal is to keep Trump off the ballot.
I don’t want to see the President run in 2024. I’d like to see the torch passed on to younger people. However, the more they attack him and the more unfairly he is treated it makes me want to see him run again and fully support him.
The “they” isn’t just the Democratic Party. It’s also the RINOs in the Republican Party that make a nice living off grifting with the government. I saw it destroy any competitiveness in the Illinois Republican Party and I don’t want the RINOs to destroy the national party. I’d prefer that small government conservatives get elected and destroy the bureaucracy, and kick the RINOs out.
Trump is accused of committing fraud by Letitia James in the way he ran his business. He is accussed of inflating the assets on the business balance sheet to get loans and conduct business with other entitites. I saw Trump’s statement, and predictably it was an attacking statement. People forget that the thing a lot of us like is he actually fights and fights aggressively.
Trump is right. She is a pure political hack no different than an apparatchik in the Stalin Administration.
But, I’d like to add some nuance to this and hopefully, reasonable people will see the light. People with Trump Derangement Syndrome will never see the light.
Private markets are just that, private. Trump’s hotel business isn’t public. It’s not listed on a stock exchange. There is no private marketplace where you can buy and sell Trump shares in his hotels. It’s 100% his.
He can value his buildings at whatever the heck he wants to value them at. He can say each one is worth $1B, $10B or a hundred million bajillion trillion. If he doesn’t have any outside equity investors, it doesn’t matter at all what he values them at.
The only time it matters is when he goes to a bank, or some other entity to get a loan. If he decides to sell equity shares to the public, it matters. It does matter to a counterparty that does business with him that has an accounts receivable due from him. The other time it matters is when he goes into the open market and sells the asset. He can ask whatever he wants but the market will price it for him.
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Banks are considered sophisticated lenders and are capable of doing their own due diligence and determining what the assets are worth when they make a loan. They assign their own value to the property when they make a loan. They will look at the company's balance sheet, but they may not agree with it. I suspect James is just pushing her case for political reasons. She is just playing the Democrats' game of trying to criminalize Trump.
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