NYC Protest Begins🔥Truckers Block New York! Gov Kathy Hochul Deploys National Guard: LATEST UPDATE!

US Immigration
8 Mar 202420:55

Summary

TLDRThe transcript discusses the ongoing legal battle involving former President Donald Trump and his business practices. Trump and his associates have been ordered to pay over $350 million in damages for allegedly inflating assets to secure loans. The New York Attorney General, Letitia James, has been vocal in her pursuit of the case, which Trump's attorney, Alina Habba, claims is politically motivated. The case has implications for New York's business climate, with concerns raised about the state's regulatory environment and the potential for a chilling effect on entrepreneurship. Trump's appeal against the civil fraud verdict continues, with the former president's team preparing to challenge the ruling.

Takeaways

  • 📜 Former President Trump and his codefendants have been ordered to pay over $350 million in damages following a civil fraud trial in New York.
  • 🚨 New York Governor Kathy Hochul is deploying state personnel, including the National Guard, to address protests and security concerns in the city.
  • 🏛️ The New York Attorney General, Leticia James, accused Trump of a decade-long fraudulent scheme to inflate asset values for financial gain.
  • 🔊 Trump's attorney, Alina Habba, claims the lawsuit is politically motivated and that the appeal record is strong, indicating confidence in an overturn on appeal.
  • 💼 The ruling could potentially force Trump to forfeit a significant portion of his wealth and lead to a reshuffling at the Trump Organization.
  • 🚫 The New York appellate judge rejected Trump's request to pause the $454 million civil fraud penalty but allowed a temporary delay on rulings affecting his business operations.
  • 🏦 Major investment firms are reportedly leaving New York, with concerns about the legal environment and potential for similar cases against other businesses.
  • 🏙️ The situation has raised questions about the future of entrepreneurship and investment in New York, with some considering more business-friendly states.
  • 📉 The financial hit from the penalty could impact Trump's ability to raise funds and maintain his business ventures.
  • 🗣️ There is ongoing debate about the fairness and precedent set by the case, with some arguing it could deter investment and entrepreneurship in New York.

Q & A

  • What is the update on former President Trump's appeal against his New York civil fraud verdict?

    -A New York appellate judge rejected former President Trump's request to pause the $454 million civil fraud penalty, but he won a temporary delay on rulings that banned him from running a business in New York state and taking out loans from New York banks.

  • How much was Donald Trump and his family business ordered to pay in penalties?

    -Donald Trump and his family business were ordered to pay more than $350 million in penalties for fraudulently inflating his wealth for financial gain.

  • What was the accusation against Trump by New York Attorney General Leticia James?

    -Leticia James accused Trump of engaging in a decade-long scheme to fraudulently and falsely value his assets to acquire loans at bargain rates.

  • What was the reaction of the New York Times to the situation?

    -The New York Times reported that several major investment firms

Outlines

00:00

📰 Trump's New York Civil Fraud Verdict Update

The video discusses the recent developments in former President Trump's appeal against the New York civil fraud verdict. Trump and his co-defendants have been ordered to pay over $350 million in damages. The New York attorney general, Leticia James, accused Trump of a decade-long scheme to inflate his assets for financial gain. The video also mentions the protests in New York City and the deployment of state personnel and the National Guard to manage the situation. Trump's attorney, Alina Habba, argues that the case is politically motivated and that the appeal record is strong.

05:01

💰 Trump's Financial Strategy Post-Verdict

This paragraph focuses on the financial implications of the verdict and Trump's potential strategies to deal with the $350 million penalty. Trump's attorney, Alina Habba, suggests that the amount requested by James was inflated due to the wealth of the Trump organization. Habba also criticizes James's motives and assures that the appeal process will reveal the truth. The conversation touches on the potential impact on Trump's business empire and the political implications of the case.

10:04

🏛️ The Legal and Political Fallout

The discussion continues with concerns about the legal and political consequences of the case. The speaker criticizes the prosecution of Trump as a form of political abuse and warns of the broader implications for prosecutorial misconduct. The conversation also addresses the potential damage to New York's reputation as a business-friendly state, with references to major investment firms distancing themselves from the situation. The speaker calls for accountability and a return to the rule of law.

15:05

🏦 Impact on New York's Business Climate

This section of the video script explores the potential impact of the verdict on New York's business climate. Kevin O'Leary, a businessman and television personality, expresses concern about the message the verdict sends to entrepreneurs and investors. He argues that the case could deter investment in New York due to the perception of a hostile legal environment. The conversation also touches on the broader implications for the state's economy and the need for better management to prevent New York from becoming a 'flyover state'.

20:06

🤝 Entrepreneurship and the Future of New York

The final paragraph discusses the importance of entrepreneurship and the potential risks to New York's economy due to the legal actions against Trump. The speaker emphasizes the need for a fair and supportive judicial system to protect investors and entrepreneurs. The conversation highlights the concerns of business owners and potential investors about the future of doing business in New York, with calls for the state to improve its regulatory environment and tax policies to remain competitive.

Mindmap

Keywords

💡Civil Fraud Verdict

A civil fraud verdict is a legal decision in a non-criminal lawsuit where the defendant is found guilty of fraudulent actions. In the context of the video, this refers to former President Trump and his business being ordered to pay over $350 million in damages for allegedly inflating asset values to secure loans. The verdict is part of the main narrative, highlighting the legal challenges Trump faces and the financial implications for his business empire.

💡Appeal

An appeal is a legal process by which a case is brought before a higher court to review the decision of a lower court. In this video, Trump's appeal against the civil fraud verdict is a central point, with the appellate judge rejecting a request to pause the $454 million civil fraud penalty, but allowing a temporary delay on rulings that could impact his business operations.

💡New York Attorney General

The New York Attorney General is the head of the state's law office and is responsible for representing the state in legal matters. In this video, Leticia James, the current New York Attorney General and a Democrat, is portrayed as a vocal critic of Trump who brought the lawsuit against him, accusing him of a decade-long fraudulent scheme.

💡Trump Organization

The Trump Organization refers to the group of companies owned and operated by the Trump family, including real estate, hotels, and other ventures. In the video, the potential impact of the civil fraud verdict on the Trump Organization's operations and financial stability is a significant concern, with the possibility of a reshuffling of leadership and assets.

💡Legal Challenges

Legal challenges refer to the lawsuits or court cases that a person or entity faces. In the video, Trump's legal challenges are highlighted, particularly the civil fraud case and its implications for his business and potential political future.

💡Political Stunts

Political stunts are actions taken by politicians or their supporters that are intended to attract attention or influence public opinion, often without regard for the actual effectiveness or sincerity of the action. In the context of the video, there is speculation that the lawsuits against Trump might be political stunts aimed at damaging his reputation or preventing a second term in office.

💡Victimless Crime

A victimless crime is a criminal act that does not directly harm an individual victim but is still considered illegal by society. In the video, the term is used to describe the alleged fraudulent activities of Trump and his organization, suggesting that no individual consumer was directly harmed, but the legal actions taken against them are still considered wrong.

💡Prosecutorial Abuse

Prosecutorial abuse refers to the improper or unethical actions taken by prosecutors in the course of their duties, which may include overcharging defendants, withholding evidence, or other misconduct. In the video, the term is used to criticize the actions of the New York Attorney General's office in pursuing the case against Trump, suggesting that the legal actions may be excessive or unjustified.

💡Investor Confidence

Investor confidence refers to the level of trust that investors have in a particular market, company, or economic environment. High investor confidence can lead to increased investment and economic growth, while low confidence can result in capital flight and economic stagnation. In the video, the concern is that the legal actions against Trump and the perceived political motivations behind them could undermine investor confidence in New York, potentially leading to negative economic consequences for the state.

💡Rule of Law

The rule of law is a principle of governance in which the rule of law is the primary source of authority, as opposed to the rule of man, where the authority of the state is derived from the will of the ruler. It implies that every individual and institution is accountable to the law, including the government and its officials. In the video, the rule of law is discussed in the context of the legal actions against Trump, with concerns that the case may represent a departure from fair and impartial justice.

Highlights

Former President Trump and his codefendants ordered to pay over $350 million in damages by a New York judge.

The damages are related to a civil fraud case where Trump was accused of falsely valuing his assets to acquire loans at bargain rates.

New York Governor Kathy Hochul announced efforts to address the shortage of workers and the protests in New York City.

The New York attorney general Leticia James, a Democrat and vocal critic of Trump, brought the lawsuit against him.

A New York appellate judge rejected Trump's request to pause the $454 million civil fraud penalty.

Trump won a temporary delay on rulings that banned him from running a business in New York state and taking out loans from New York banks.

The ruling could force Trump to forfeit a significant portion of his wealth and lead to a reshuffling at the Trump Organization.

Trump's attorney, Alina Habba, argues that the lawsuit is a political stunt and that the record for the appeal is strong.

Habba claims that James's goal was to hurt Trump, his family, and his company, and that this goal will not succeed.

The case is described as a victimless crime, with no one losing money or reporting to the police.

Investment firms are reportedly leaving New York, with major players like JP Morgan Chase, State Street, and BlackRock distancing themselves from the situation.

The case is seen as a potential deterrent for entrepreneurs and investors considering New York due to the legal environment.

The governor of New York has assured that legitimate business operations have nothing to worry about.

The appeals process will likely address the novelty of the case and the decision-making by loan entities.

The case has raised concerns about the fairness of the judicial system and the potential for prosecutorial abuse.

The situation in New York is being compared to a legal banana republic, with calls for better management to prevent the state from becoming a flyover state.

The case is seen as a test of the rule of law in the United States and its application across different political beliefs.

Trump's response to the situation is to focus on success as his form of vengeance, rather than engaging in a legal battle.

Transcripts

00:00

we now have an update on former

00:01

president Trump's appeal against his New

00:03

York civil fraud verdict as the city

00:05

breaks this for an influx of

00:09

truckers so we have that crisis

00:11

unfolding we've been talking about this

00:13

for a long time and we're feeling the

00:15

effects here in New York but on the

00:17

other

00:18

hand we have a shortage of workers

00:22

crisis today New York Governor Kathy

00:24

hokel announced new efforts to fight

00:26

hundreds of protests in New York City

00:28

already from above you can see the sheer

00:30

numbers the crowd

00:33

massive demonstrators blocked traffic

00:36

all the way from 34th Street to Bryant

00:38

Park so hokel is deploying a thousand

00:41

State Personnel from the MTA State

00:43

Police even the National Guard to help

00:45

the city and they're going to have a

00:47

security perimeter that stretches for

00:49

several Avenues here and this is because

00:51

of the two factors the two issues that

00:53

you sort of alluded to right there the

00:54

first is former president Donald Trump

00:56

and his codefendants in this case

00:59

ordered today by judge Arthur and gorin

01:01

to pay out more than 300 million about

01:05

$350 million in

01:09

Damages New York leading with New York

01:12

business owners to stay in the city the

01:15

number of legal challenges against Trump

01:18

raising some questions now about whether

01:21

they are political stunts to keep him

01:23

from a second term or anything else the

01:25

New York attorney general Leticia James

01:28

who brought the lawsuit against Trump

01:29

and his adult children in

01:31

2022 James a Democrat and vocal critic

01:34

of trump accused the former president of

01:37

engaging in a decade long scheme to

01:39

fraudulently and falsely value his

01:41

assets to acquire loans at bargain rates

01:44

Donald Trump may have authored the art

01:46

of the deal but he perfected the art of

01:50

the

01:50

steel New York attorney general Laticia

01:53

James getting booed today in New York

01:55

City her lawsuit led to former president

01:57

Trump's fine of more than 300 well over

02:00

$350 million at this point in the Civil

02:03

fraud trial he is appealing and he says

02:06

he did nothing wrong watch what happened

02:08

when James spoke at the fire department

02:11

uh promotion ceremony today at a church

02:13

in

02:16

[Applause]

02:19

Brooklyn oh come on we're in a house of

02:23

God first um simmer down I want to thank

02:28

commissioner Kavanaugh

02:30

and chief hodgin for that

02:35

[Music]

02:36

recognition oh you know who's going to

02:38

love

02:39

that um FDNY chief of Department John

02:42

hodgin telling Fox quote today's

02:44

ceremony was about one thing the

02:46

accomplishment of the members being

02:47

promoted the members whose whose

02:50

Behavior excuse me distracted from that

02:52

celebration were an embarrassment and

02:53

not befitting of the world's best fire

02:56

department and indeed they are and we

02:58

congratulate all of those who got

03:00

promoted today um and we thank them for

03:02

the hard work they do every day in New

03:04

York City uh you know listen there's so

03:06

many indictments so you know I'm not a

03:09

lawyer but you look at New York for

03:11

instance right now with the penalties

03:13

and everything 400 million to be paid on

03:16

a victimless crime where there was no

03:18

victim no one showed up that the local

03:19

police precinct to f a report in fact

03:21

the banks that did business with

03:22

President Trump wanted to do more

03:24

business with President Trump and this

03:26

breaking news uh while we were showing

03:28

you that we now have an update on former

03:30

president Trump's appeal against his New

03:32

York civil fraud verdict a New York

03:35

appellate judge has rejected the former

03:38

president's request to put a pause on

03:40

the $454 million civil fraud penalty but

03:44

the former president did win his request

03:46

to temporarily delay rulings that banned

03:49

him from running a business in New York

03:51

state and taking out loans from New York

03:53

Banks a New York judge ordered Donald

03:55

Trump and his family business to pay

03:57

more than $350 million in penalties for

04:00

fraudulently inflating his wealth for

04:02

financial gain if upheld the ruling

04:05

could force Trump to Forfeit a sizable

04:07

chunk of his money and lead to a

04:09

reshuffling at the Trump organization

04:11

which is run by his sons Eric Trump and

04:13

Donald Trump Jr uh it's a ridiculous

04:16

award this a fine of $355 million for

04:20

doing a perfect job we asked Mark Zer a

04:24

veteran New York trial and app pellet

04:26

lawyer to break down the judge's

04:28

decision and what it means for Trump's

04:30

business Empire one of the things that

04:32

the judge noted in a footnote to his

04:34

decision was a reason why he was pulling

04:37

back on the cancellation of business

04:40

certificates is what he characterized as

04:43

potential economic harm with that we're

04:45

bring in Alina habba attorney for former

04:48

president Trump Alina great to have you

04:49

with us thank you for being here today I

04:52

actually want to start uh with that a

04:53

piece of sound from the town hall last

04:55

night with Laura Ingram and the former

04:58

president Donald Trump watch this

05:00

it's such a huge amount of money you

05:03

have to decide whether you're going to

05:05

put up that Bond and escrow to to appeal

05:08

are you going to do that where you going

05:10

tell you what we're going to do number

05:11

one well I have a lot of cash but that

05:13

doesn't mean he can take it I mean you

05:15

know what he did I think he looked at my

05:17

cash and he said well we'll take all of

05:19

his cash so Alina welcome uh first of

05:22

all thank you for being here and does

05:24

that indicate that the former president

05:27

plans to pay this Bond whether he's

05:30

going to do the bond or pay this

05:32

outright in cash because he says that he

05:34

essentially has that much cash is that

05:36

the

05:38

case I actually agree with my client's

05:40

sentiment I just want to add something

05:42

that most Americans don't realize Miss

05:44

James started out asking for $250

05:47

million when she got a glimpse of just

05:49

how wealthy the Trump organization is

05:51

because they're a successful business in

05:53

the state of New York because they

05:54

employ thousands of people and pay

05:56

hundreds of millions of do dollars in

05:57

taxes to the state of New York she upped

06:00

that she upped that ask why because her

06:02

goal was to try and hurt the president

06:05

try and hurt his family his company and

06:07

quite honestly all I can say to that

06:09

without breaking my privilege and giving

06:11

her a glimpse which I would never give

06:12

her the courtesy of having into our

06:14

strategy is that she has no chance the

06:17

appellant record is strong the record is

06:19

going to be uh very clear to the

06:21

American public and I look forward to

06:22

having everyone see what we say and and

06:24

really get a glimpse of what happened in

06:26

that 11 weeks in court but nonetheless

06:28

Elena that amount is there any hail Mar

06:32

pass that circumvents the reality that

06:35

that money has to be paid whether it's

06:37

in a bond or in cash before you can go

06:41

to the Appellate process is there any

06:43

workaround at

06:45

all so there's a couple things right and

06:47

I'll speak generally you can post a bond

06:50

um which is an option you can tell the

06:53

judge that you should set aside the

06:55

verdict because it's insane which this

06:58

is um will you be asking do all those

07:01

options are on the table I will never

07:03

show my cards Martha you know I'm too

07:05

good to do that but I will tell you that

07:08

we we have a great team I'm proud of our

07:09

our team and we're working around the

07:11

clock to figure out what strategically

07:13

is the best move one thing I can tell

07:14

you is that her goal of tearing down the

07:17

Trump organization her goal of tearing

07:18

down the individuals that work so hard

07:21

including on his campaign his family and

07:23

the list goes on and on her goal is

07:25

frankly not going to succeed that's all

07:26

I'm willing to say what did you make of

07:28

the fact that she said you know when she

07:30

was sort of guessing how he may come up

07:33

with this money or what he might choose

07:35

to sell off she said well I look up at

07:37

40 Wall Street every single

07:41

day yes and that chip on her shoulder is

07:44

why we're here today look this is a

07:46

woman who ran on getting Trump before

07:48

she even knew anything about the Trump

07:49

organization she made good on a campaign

07:51

promise and she used judgeing Goron to

07:53

help her facilitate that promise Martha

07:55

all I can say is this President Trump is

07:57

one of the smartest businessmen one of

07:59

the greatest presidents we have ever

08:01

seen if she thinks she is going to take

08:03

him down if that was her goal which we

08:05

all know very well it was and she got a

08:07

strong assist there in court but I will

08:10

tell you this that goal will not be

08:12

successful and that is the message I can

08:14

give to everyone listening here it will

08:16

not be successful we've seen it happen

08:18

time and time again look at what's

08:19

happening in Georgia look at what's

08:20

happening with Miss James going to

08:23

Washington right before she files the

08:24

complaint we have proof of that now

08:26

we're not talking about it because it's

08:27

so damaging this is all political

08:30

there's absolutely no no factual basis

08:32

to it and I'm really looking forward to

08:34

everybody seeing our record on appeal I

08:35

hope they take the time to read it so

08:37

that they can get a window into what are

08:39

the facts they've done nothing wrong

08:40

there were no victims and everyone made

08:42

money you're going to see businesses

08:44

fleeing New York right the New York

08:45

Times reports several major investment

08:48

firms are leaving major players in the

08:50

financial world are rethinking their

08:53

involvement in the fight three Giants JB

08:56

Morgan Chase State Street and black rock

08:59

have distanced themselves New York has

09:01

become a legal Banana Republic yes so

09:03

you show me the man I'll show you the

09:05

crime that was a famous saying from

09:07

Stalin's chief of police that's how the

09:09

prosecutorial system is now working

09:11

against Donald Trump today Not only was

09:14

this not a victimless crime Sean you

09:16

want to think about the people who did

09:17

business with Donald Trump they made

09:19

money off of those interactions not just

09:21

average consumers but financial

09:23

institutions so for her to bring this

09:25

case I think is a legal and

09:27

unconstitutional violation and when

09:29

that's overturned on appeal she's now

09:31

talking about seizing Trump's residences

09:33

in real estate properties I want to know

09:35

what property of Leticia James is going

09:37

to be seized when this is overturned on

09:39

appeal for the damage this is doing to

09:42

our country and to trust in the standard

09:44

of the rule of law in the United States

09:45

of America we need accountability when

09:47

this is overturned on appeal but for now

09:50

I'll say this is a travesty of justice

09:51

and this should not happen in the United

09:53

States of America I've been indicted

09:55

more than some of the greatest criminals

09:57

in the world for

10:00

nothing for nothing if I if my

10:03

plane flies over a blue

10:06

state that evening I get a subpoena to

10:09

report to a Federal

10:12

grand can you explain that to me what

10:15

has happened to this great

10:17

constitutional republic that is supposed

10:20

to be you know governed by Equal justice

10:22

under the law and equal application of

10:24

our laws every American should fear this

10:27

regardless of where they stand

10:29

politically that's what I

10:31

believe this isn't the American dream

10:33

this is the American Nightmare and this

10:35

is not even about Donald Trump it's

10:37

about every other American at home who's

10:39

now at risk of prosecutorial abuse as

10:41

well I think one of the great things

10:43

that happened for this country was in

10:44

the last week seeing Fanny Willis

10:47

actually testify in that case Sean there

10:49

the American public was able to see bear

10:52

these are the people who are actually

10:53

pursuing these cases against Donald

10:55

Trump people have no idea about basic

10:58

geography or the basic idea or the

11:00

understanding of the law as well these

11:02

are not the people that our founding

11:04

fathers and vision should be in charge

11:05

of let alone Prosecuting a former

11:07

president of the United States and

11:09

somebody who's running for president of

11:11

the United States they're rolling over

11:13

in their graves we're supposed to be a

11:15

country where regardless of your skin

11:16

color and yes regardless of your

11:19

political belief there is one standard

11:21

of the rule of law in the United States

11:23

of America and I'm grateful that Donald

11:25

Trump is standing strong that he's

11:27

actually said it beautifully the other

11:28

night actually on Fox on the at the Town

11:30

Hall he said it you know what my

11:32

Vengeance will be success will be my

11:34

Vengeance there's a trap to try to bait

11:36

somebody to come after them in so many

11:38

different directions that you get them

11:39

to crumble or to make a mistake I'm glad

11:41

to see him going in the other direction

11:43

to say that you know what we're going to

11:45

chase success success is unifying

11:47

success is how we win and you know what

11:49

I have full confidence that that's

11:51

exactly what's going to happen this

11:52

November even though they've created a

11:54

complicated path to get there well let's

11:56

bring in the chairman of oir venture

11:59

Shark Tank Judge Kevin o Kevin so good

12:02

to see you this evening I mean let me

12:04

just jump right in here last time you

12:06

and I spoke about the possibility of

12:08

what the fine could be in this case we

12:10

now know what it is it's more than 350

12:14

million bucks that's a huge financial

12:17

hit and I'm I'm wondering where is he

12:19

going to get this

12:21

money actually it's close at a half a

12:23

billion with a 9% interest assuming

12:25

it'll take 18 to 2 years to actually

12:28

settle this in an appeal which I think

12:30

it should be appealed um he he'll work

12:33

hard to raise it I think he can do it

12:35

but I what I I don't think this case is

12:37

about Trump anymore at all because you

12:40

heard the governor of New York come out

12:42

yesterday and say look everybody uh

12:45

don't be scared about doing a business

12:47

in New York uh because the only people

12:51

we prosecute are people like Donald

12:53

Trump who don't behave well that didn't

12:56

go over very well with the investment

12:58

Community because we're all asking each

13:00

other who's next this was a victimless

13:04

crime nobody lost any money and a judge

13:07

out of nowhere put on a

13:09

$355 million penalty I mean who's next

13:14

so if you Kevin before I I don't want to

13:16

cut you off but I hear about the the

13:18

so-called victim's crimes but the laws

13:20

on the books falsification of business

13:22

records in second degree issuing false

13:24

financial statements insurance fraud

13:26

conspiracy and all these different

13:27

aspects of it those are actual crimes I

13:30

take it your point is that these should

13:32

not have been

13:33

prosecuted well my point is there's

13:35

never been a case like this in 75 years

13:38

everything you just listed off is done

13:39

by every real estate developer

13:41

everywhere on earth in every city this

13:43

has never ever been prosecuted but

13:45

here's the real point that people in New

13:47

York should concern themselves with you

13:49

can put your money anywhere I'm a real

13:51

estate developer do you think there's a

13:53

chance I would ever take a chance on New

13:56

York again New York is turning itself

13:58

into a fly over State I have to build

14:01

data centers now I'm not going to go to

14:03

New York New York has power it's got

14:06

fber Optics it's got Niagara Falls but

14:10

no we're not even thinking about it

14:12

we're going to places that have the

14:13

exact same thing where we have rational

14:16

Governors that have never done this to

14:19

investors this is about New York and its

14:21

people if I were in New York today and I

14:25

was living there I would ask myself

14:27

maybe we should hire better

14:29

management why is this happening to us

14:31

why are we becoming a flyover State why

14:34

are investors concerned about putting

14:36

their money there but shouldn't you ask

14:38

that wouldn't wouldn't those people also

14:39

be saying first of all I do wonder how

14:42

many people take issue with the idea

14:44

that every investor is engaged in

14:46

falsifying business records that every

14:48

investor is engaged in what has been

14:50

accused of Donald Trump and the Trump

14:52

organization because there's probably a

14:53

lot who are saying to themselves I've

14:55

never falsified my business records I

14:57

know what a square foot looks like like

14:58

I know what what I can ask for and what

15:01

I have the money to support so I I

15:03

wonder to what extent that really is

15:05

true but on the second Point wouldn't

15:08

there be many companies who would not

15:10

want to do business or loan money to

15:13

people like yourself or investors if

15:16

they know that they can get away with

15:17

fraud and there's no recourse to protect

15:21

them excuse me what fraud I don't this

15:23

is not about Trump anymore when you get

15:26

a developer when you get a developer

15:28

that builds a building and he says it's

15:30

worth $400 million and he wants to

15:32

borrow 200 million from a bank which

15:34

happens every day everywhere on Earth

15:37

including every American city every

15:39

developer is an entrepreneur they Shine

15:41

the Light on their building and they say

15:43

it's worth 400 the bank does its own due

15:45

diligence as was done in this case

15:48

because they're very good at it the

15:49

banks are very good and they say no it's

15:51

worth 300 we're only going to loan you

15:53

150 million that haggling has gone on

15:56

for decades that's how it works and then

15:59

in this case even the bank that was

16:01

supposedly defrauded testified and said

16:04

we didn't lose anything we want to do

16:06

business with this guy again we'd like

16:08

to but the judge said no no no no no no

16:10

let's penalize this developer for 355

16:14

million and we're going to do that let's

16:17

penalize all the developers all across

16:20

America they've all done the same thing

16:23

all of them should go to jail and we

16:25

should stop building buildings that's

16:27

what the message is from New York even

16:30

the governor herself is concerned about

16:32

what this looks like to investors all

16:34

around the world it's not just us

16:36

domestic all around the world people are

16:39

talking about what happened here you

16:40

really think people want to invest money

16:42

in New York after this how about we go

16:44

somewhere else I think there are people

16:46

who would I don't want to cut you off

16:48

but I I want to converse with you inste

16:51

did I it's only because I want to have a

16:53

conversation I

16:55

respect I respect you because you're a

16:57

lawyer you're lawyer you understand

16:59

exactly what I'm talking about I got to

17:01

tell you I'm I'm respectable for a

17:03

number of reasons Kevin o lary but being

17:05

a lawyer is one of those issues but I'll

17:07

tell you when I when I hear your

17:09

conversation and I do want to converse

17:10

with you about this point I understand

17:13

that there are legitimate concerns that

17:14

were raised during the trial and will

17:16

continue to be raised about who the

17:18

quote unquote what who is actually

17:20

bringing the suit it wasn't the banks

17:22

who were saying that we as consumers are

17:24

unsophisticated feel this way but

17:27

Laticia James the Attorney General and I

17:28

know you want to expand Beyond Trump has

17:30

suggested well it's about making the

17:32

playing field level for those who are

17:34

not the major and billionaire investors

17:37

but for those who are supposed to put

17:39

business records out there want to get a

17:41

loan the idea of making sure that they

17:43

have to have the same true statements

17:46

included as those who have a lot more

17:48

money is there any weight to that for

17:51

you well I ask you who lost money and I

17:55

make it even clearer you and I we

17:58

developing a data center together and I

18:00

say to you we can go to New York where

18:02

this just happened it's your money now

18:05

you're now an investor and you're taking

18:07

risk you're an entrepreneur with me

18:09

right beside me we're together on the

18:10

deal or I can show you Oklahoma North

18:13

Dakota West Virginia where the governors

18:15

actually ran businesses let's go there

18:18

where that's never happened before they

18:20

have power they have permits they've got

18:23

legislation that's supportive of

18:24

Entrepreneurship why would we go to New

18:26

York why take the risk

18:28

my only point is did we just diminish

18:31

the great state of New York and the

18:34

great people of New York and shouldn't

18:37

they ask for better management so they

18:38

don't become a flyover State remember

18:41

New York has the highest taxes in the

18:43

country the worst regulatory environment

18:46

and it's incredibly mismanaged and I'm

18:48

pointing out now on top of that you get

18:50

this Insanity a a victimless crime and

18:54

forget about Trump it's not about Trump

18:56

I don't care about Trump in this I care

18:58

about America and I care about

19:00

entrepreneurship and I care about

19:02

democracy and the fairness the judicial

19:06

system is now being criticized people

19:08

are asking themselves the bar of New

19:10

York is this judge rational to charge

19:14

355 million in a case where no one lost

19:17

any money is that good for the people of

19:20

New York shouldn't the people of New

19:21

York wake up to this and say what's

19:23

happening to us why is this becoming so

19:27

pervert

19:29

why are we the focus of this Injustice

19:32

and nothing to do with Trump I'm not

19:33

supporting Trump I'm supporting American

19:36

entrepreneurship and New York is slowly

19:38

becoming the number one loser state in

19:42

America I'm sorry that's what's

19:44

happening well that's news to the city

19:46

that doesn't sleep but I'll tell you

19:48

what the governor has said that

19:49

legitimate business operations have

19:51

nothing to worry about I as an attorney

19:54

am looking at this issue wondering what

19:56

the appeals process will look like

19:57

because they're going to delve into that

19:59

very topic that you have raised they're

20:01

going to talk about perhaps the novelty

20:03

of this being as you describe not

20:05

brought on behalf of you know

20:07

unsophisticated consumers who may have

20:09

been duped but decisions made by loan

20:13

entities who wanted to engage in

20:15

business with this particular

20:17

organization that be important go ahead

20:19

put your hand put my hand I want to put

20:21

up my hand and ask governor who's next

20:25

who are you going after next you want

20:27

your hand up for that Kevin put your

20:29

hand down if that's the question what do

20:30

you mean every every entrepreneur in New

20:33

York is saying am I next Who's Next why

20:36

should I do business here when there are

20:39

so many more business friendly states

20:41

that I could do business in Florida in

20:43

Texas for example we've seen Elon Musk

20:45

make that historic move so I think

20:47

people are looking at New York and

20:48

saying unless you do something to change

20:51

the vibe here to turn this environment

20:53

around not for me