Letitia James parades her economic and entrepreneurial illiteracy

 For years, most of the media, the federal Justice Department, and other Democrats have waged a vendetta against Donald Trump, perpetuating endless investigations in search of crimes.  So far, their efforts have failed, but that's not stopping another left-wing loon from boarding the Trump Derangement Syndrome train.

Since New York attorney general Leticia James could not find a crime, she has promised voters that she would destroy Trump, and now, since election is coming soon, she's suing Trump and his family for alleged fraud for supposedly claiming that their property was worth more than it is. 

If the Trumps committed bank fraud, as James says, they would have sued him and filed a criminal referral on him, but they did not.  The state was not a victim, nor the bank, nor the citizens of New York, so why is she suing?  Well, either she's extremely dimwitted or the move is purely for political reasons.

Voters should never vote for any politician who seems to believe that a man can walk into a bank, claim to be worth billions, ask for a loan for hundreds of millions based on his word, and the banker just writes a check with no due diligence.

The bank gets independent appraisals, evaluates financial statements, reviews tax returns, and takes whatever steps necessary to protect its regulators and owners to ensure the borrowers have the cash flow capacity to pay back the loan.  Due diligence may be a foreign concept to politicians, but the regulators would put severe restrictions on banks that didn't do their job.

How could an attorney general not know this?

James says Trump overvalued his properties to save money on insurance.  How exactly did that work?  I believe that the more property is worth, the higher the cost of insurance.

I didn't know she was an expert on valuations.  She said Mar-a-Lago was worth only $75 million instead of the over $700 million figure the Trumps cited.  She essentially multiplied cash flow times three to get that evaluation.  It shows a great deal of economic illiteracy to pretend that Palm Springs property values are based on cash flow.

Billionaire Ken Griffin has a piece of property down the street that cost him $450 million.  My guess is, if Trump subdivided Mar-a-Lago it would in fact be worth north of $700 million. 

Has she ever sued anyone else in Manhattan for overvaluing commercial or residential properties?  My guess is no.

Below are some examples of massive fraud or misrepresentation that actually deserve litigation, and some are in James's backyard.

Colleges in New York and throughout the country have inflated their costs rapidly for over fifty years, while encouraging parents and students to borrow money to pay for these exploitative costs.  They misled borrowers, claiming that these degrees would yield higher incomes upon graduation, yet now millions can't pay the loans back — because, as it turns out, gender studies isn't a marketable knowledge set —  and taxpayers will have to eat over one trillion dollars.  There are millions of victims, yet the colleges aren't being sued, but the Trumps are, with no apparent victims.

The WHO, the NIH, the CDC, and Dr. Fauci continually presented false information to the public.  Businesses and schools were closed and, upon reopening, spent massive amounts of money on Plexiglas and were told to allow six feet of "social distancing" despite zero scientific evidence that those mitigations reduced the spread of COVID.  People were fired if they refused to take a vaccine that neither prevented the virus nor prevented the spread.  (I thought Democrats believed that women had the right to determine what to do with their bodies!)  There are millions of victims and trillions in damages, yet orange man bad.

The biggest fraud of all is the destruction of energy sector industries, which in turn is lowering our quality of life.  Based on an unproven theory claiming that humans and "fossil fuels" are to blame for "climate change," we're subjected to rising and unaffordable prices.  The theory is based on easily manipulated computer models and dire predictions that have been 100% false for decades.  The cost to all of us is astronomical.  Yet no one is being sued.

It is vicious, unjust, and immoral when political hacks have the power to destroy people like the Trumps because they don't like them and their policies.  If there's any politician worth suing, the Biden family with their massive corruption and kickbacks would be a good place to start.

https://www.americanthinker.com/blog/2022/09/letitia_james_parades_her_economic_and_entrepreneurial_illiteracy.html