Category New York City

Jan 13 2024

Kevin O’Leary Explains to Stunned CNN Audience Why New York Case Against President Trump Is Nonsense


Published originally on the CTH on January 12, 2024 | Sundance

Everything about the case in New York City against the Trump Organization business operations is ridiculous.  There are no victims.  There was no fraud.  All of the lenders did their own due diligence.  All of the loans were paid back without issue, and the statement of financial condition was factual and accurate.  There were no defaults or banking interests adversely impacted. There are no victims of what the State calls “fraud.”

New York Attorney General Latisha James campaigned for office with promises to target the Trump Organization and Donald Trump himself.  This is malicious Lawfare in the extreme.  Additionally, the statute being used as the predicate for the case is a consumer fraud statute, intended to protect borrowers from predatory lenders. In the four corners of this case, Trump is the borrower, and the banks were the lenders.  New York is flipping the statute to claim the borrower defrauded the lenders, despite the lenders denying there was any fraud and there was no harm.   The entire case is ridiculous.

Appearing on CNN, O’Leary Ventures Chairman Kevin O’Leary outlines, to a perplexed Laura Coates, why Donald Trump’s civil fraud trial in New York is political nonsense. WATCH (prompted):

TRANSCRIPT – O’LEARY: Well, let’s leave out Trump for a minute, and let’s leave out politics, and just talk about what happens in real estate development anywhere. So, if you’re a developer and you’ve got a building on the block, anywhere in America, and it’s worth, let’s say, $500 million, and you want to build a building right beside it, you go to the bank and say, “This building is worth $500 million. I’d like to borrow a construction finance loan against this asset, and I want you to tell me it’s worth $500 million too.”

And the bank negotiates with you, and says, “Well no, we think it’s worth $400 million,” and you fight it out. You are always trying to show your assets in the brightest light with the sunshine you can possibly determine for them. You want them to be worth the very most because you’re only going to get a 40 to 50 percent loan to value, as it’s called. Then you borrow that money, in the case of a $500 million asset, maybe you get $250 million, and you build the new building with a construction finance loan. So that’s what this case is all about. 

And by the way, forget about Trump, every single real estate developer everywhere on earth does this. They always talk about their asset being worth a lot and the bank says no. That’s just the way it is. So in this case, what I’m trying to figure out, and I’m not pro or con, or I don’t care about the politics, who lost money? Nobody. The bank got paid back the construction finance loan, and a new building was built. If you’re going to sue this case and win, you’ve gotta sue every real estate developer everywhere. This is all they do. This is what they do all day long every day. So I don’t think this thing will ever survive appeal regardless of what the fine is. This doesn’t even make sense. 

Now look, I understand Trump has a lot of problems in other indictments and everything else, but if you’re a real estate developer, you’re watching this and saying, “What is this? This is ridiculous.”

Dec 8 2023

Congestion Taxes Coming to NYC


Posted originally on Dec 8, 2023 By Martin Armstrong 

NYC Myopic View

The Metropolitan Transportation Authority (MTA) believes that taxation could decrease traffic congestion in New York. Vehicles will be charged an additional $15 daily to enter Manhattan from 60th Street or below, while trucks will face a fine between $24 and $36. New York Gov. Kathy Hochul strongly backs the measure as she believes it will help to clean up New York.

“Congestion pricing means cleaner air, better transit and less gridlock on New York City’s streets and today’s vote by the MTA Board is a critical step forward,” Hochul commented. As a reminder, New York City just voted to slash funding for sanitation. It is not an exaggeration to say that the city is overrun with rats. The police budget is declining by $5.6 billion as well at a time when crime is through the roof and the city’s infrastructure is crumbling as busloads of illegals arrive daily.

Do they want to utterly kill the leisure and hospitality industry? As a previous resident of New Jersey, I saw the tolls into New York rise over the years. It now costs a good $20 in tolls simply to cross into the state, and parking fees in the city are some of the highest in the nation. Now you have to factor in an added daily congestion fee and it will cost the average person a good amount simply to enter Manhattan.

Obviously they want people to rely on public transportation as the coming 15-minute cities will not require personal vehicles. Taxis will charge passengers an extra $1.25 to meet the toll while Uber and Lyft plan to implement a $2.50 fee. People earning under $50,000 annually can apply for a discounted rate only after their first 10 trips per month.

They’re banning coal and wood ovens so there will soon be no reason to stop in the city for a slice of pizza or world famous cuisine. Former grand hotels are now migrant camps and thousands of undocumented military aged men are scattering the streets. Crime is rising and Soros-backed DAs won’t allow criminals to be prosecuted. The people of New York will never see the money derived from this new tax. Yet another reason why I will never return to NYC.

Nov 29 2023

New York Loses $12 Million Per Day Due to Shoplifting


Posted originally on Nov 28, 2023 By Martin Armstrong 

NYC Christmas

Gov. Kathy Hochul is a menace who is setting fire to what remains of the once beloved state of New York. Hochul is responsible for rule 2.13 and is one of the most obnoxious vaccine supporters on the world stage. Hochul is supported by the same people who donated to Andrew Cuomo, and she is full support of the Build Back Better agenda.

That is why she is passively allowing the state to burn. The light on crime policies has led to a drastic uptick in crime across the state. Both Republicans and Democrats attempted to pass a bill to curb theft but Hochul shot it down, stating the requested $35 million was not in the budget. Theft in NY has increased by 64% over the past four years.

In the city, Eric Adams recently declared that funding to the police department would diminish due to recent budget cuts. It is fair to say that they deliberately want to make the state a hostile environment as they are effectively warding off tourism and business development.

NYC HELP

Recent data suggests that New York as a whole lost $4.4 billion in 2022 due to organized retail theft. This is not limited to NYC. Places like Syracuse reported a 55% rise in shoplifting over the past two years. “That number is likely higher because businesses often don’t report it — but they do continue to express concerns,” Syracuse Police Chief Joe Cecile said. One pharmacy in Syracuse lost a quarter-million alone due to theft. Store owners have been seriously assaulted or killed. Yet, Hochul believes there should be harsher penalties for the unvaccinated than for criminals.

So thieves are stealing over $12 million daily from New York retailers. The budget for a preventative organization (not that it is the solution) would be equivalent to a mere three days of theft. Thousands of people and their tax dollars have already fled the state due to their poor policies. The businesses are following, and what will be left? Government-run grocers and 15-minute cities? That is the ultimate goal behind allowing this type of crime to occur without punishment.

Nov 9 2023

Judge Arthur Engoron May Have Doomed New York City Re-Posted Nov 9, 2023 By Martin Armstrong 


Engoron Arthur

QUESTION: You have not commented on Trump’s NY case. What do you think of this case?

EK

ANSWER: It is a typical New York rigged trial. NOBODY ever gets a fair trial in New York. It is a cesspool of legal corruption. Judge Arthur Engoron is a national disgrace. When Trump’s lawyer Habba stood up to defend Trump, stating that the Engoron needed to “hear what he has to say.” The judge quickly scolded Habba, telling her, “I’m not here to hear what he has to say. He’s here to answer questions.”

He has already determined that everyone is guilty. This is about how much he can take from Trump and his family. They claim Trump should have paid $168 million more in interest. This is so absurd; it is just unimaginable.

In Securities Law, this applies between a professional and a member of the public. If I managed money for a major public corporation and said I wanted 50% of the profits, and they agreed, that is not fraud because, between two professionals, it is presumed they knew what they were doing.

This is not bank fraud, where the loans are paid off. The bank has its own assessors. They would have looked at the collateral listed and lent money on that and must have done their own diligence. For this case to even proceed is outrageous, for you could then scrutinize every loan ever made in New York City and claim that someone overvalued their house when they borrowed.

The ENTIRE world knows this is to interfere in the 2024 election. Both Argentina and Brazil said that a great idea and are doing the same to their opponents. As I have said, the computer is projecting massive civil unrest post-2024. It does not matter who wins the election; NEITHER side will accept the conclusion. I would NOT want to be in New York City post-election. This judge may have sealed the fate of New York City once and for all.

Any rational businessman should now avoid New York City for doing any business whatsoever.

Nov 8 2023

President Trump Attorney Alina Habba Describes the Issues Within the Courtroom in New York City as President Trump Delivered Expert Testimony


Posted originally on the CTH on November 7, 2023 | Sundance 

Alina Habba appears with Larry Kudlow to describe the events that took place within the courtroom as President Trump delivered expert testimony on real estate, property evaluations and the financial statement he signed.

As Ms. Habba notes, President Trump was delivering a masterclass in New York real estate that ran counter to the narrative created by the Lawfare group.  Judge Engoron wanted to silence President Trump during his testimony as the evidence ran counter to the effort and showed President Trump’s business acumen.   WATCH:

.

Nov 4 2023

Weirdness Abounds – New York Judge Engoron Expands Gag Order to Stop Trump Defense Attorneys from Discussing Instructions from Court Clerk


Posted originally on the CTH on November 3, 2023 | Sundance 

The judge in the New York City case against Donald Trump and the Trump organization has transparently been a little goofy.  From the first day when he posed for the cameras, to the sketchy application of legal review within the case, Judge Arthur Engoron exhibits the classic traits of being weird and unstable.

There is a pattern amid the deployment of Lawfare that deserves some background context.  Whenever Lawfare is deployed there are always background characters who are seemingly needed to keep the bizarre interpretations of Lawfare tactics on track.

We saw this play out with Debra Katzenberg, Monica McLean and David Laufman controlling Kavanaugh accuser Christine Blasey-Ford.  We saw it again with Mary McCord playing the role in the background of the Trump Lawfare impeachment to guide Jerry Nadler and Adam Schiff.  We saw it again with Andrew Weissmann and Norm Eisen guiding Special Prosecutor Jack Smith from the backbench of Lawfare.  In each case the principal activity is guided by Lawfare ideologues who use position to influence.

In the Judge Engoron example, court clerk Allison Greenfield has been passing notes and instructions to Engoron as the case has progressed.  The activity has become so disconcerting that Trump’s lawyers have called it out in court as it happens {Breitbart Link}.  In response to the sunlight upon the visible activity, Judge Engoron has now expanded his gag order to prohibit Trump’s lawyers from drawing attention to the activity of Ms. Greenfield.

NEW YORK — The judge overseeing Donald Trump’s ongoing civil fraud trial issued another gag order on Friday — this time prohibiting all lawyers working on the trial from “from making any public statements, in or out of court, that refer to any confidential communications, in any form, between my staff and me.” (link)

The issuance of the gag order is weird because the entire dynamic of the clerk instructing the judge is weird.   The gag order is an effort by Engoron to stop people from noticing it….  Yeah, that’s exponentially weirder.

POLITICO – [Trump Attorney Chris] Kise complained about Greenfield’s habit of passing notes to Engoron during proceedings, suggesting she is improperly influencing his decisions. Engoron reacted sharply to that complaint, telling Kise, “I have an unfettered, absolute right to consult with my law clerks” and saying he wouldn’t tolerate future comments about his staff.

Kise, though, continued to argue that he needed to state objections on the record for the purposes of an eventual appeal. “If notes are being passed at certain specific times or they’re being passed in a way that might indicate some bias,” he said, “that’s a record that needs to be made contemporaneously.” (more)

As noted by Henry Rossof from inside the court today, “Judge Engoron said he will note a continuing objection to his consultation with his clerk but does not want anything more said about her… he will still consult.”

“I have an absolute, unfettered right to consult with my law clerks anywhere, anytime,” Engoron noted. “There’s no more need to make a record” [of it within the court when it occurs] he concluded.

After this series of exchanges today, Engoron then expanded his court order to forbid the Trump lawyers from telling the public about what was happening between him and his clerk in the court.

Yup, weird, sketchy and fitting right in with the pattern of how Lawfare is deployed.

These people are ideologically not stable.

Nov 4 2023

Eric Trump Speaks to Media After Testimony in New York Case Against Trump Organization


Posted originally on the CTH on November 3, 2023 | Sundance 

Everything about the case in New York City against the Trump organization business operations is ridiculous.  There are no victims.  There was no fraud.  All of the lenders did their own due diligence.  All of the loans were paid back without issue and the statement of financial condition was factual and accurate.

Additionally, the statute being used as the predicate for the case is a consumer fraud statute, intended to protect borrowers from predatory lenders. In the four corners of this case, Trump was the borrower, and the banks were the lenders.  New York is flipping the statute to claim the borrower defrauded the lenders, despite the lenders denying there was any fraud and there was no harm.   The entire case is ridiculous.

Eric Trump, Donald Trump Jr., and Ivanka Trump have been called by the state prosecution as witnesses; the transparent motive is simply to extend the anxiety upon the family of President Donald Trump.  Eric Trump talks to the media today. WATCH:

.

Oct 3 2023

VIDEO – President Trump Is Furious at Judicial Conduct and Activist Judge Arthur Engoron in New York City Civil Trial


Posted originally on the CTH on October 2, 2023 | Sundance 

There are no elements to this farce of a judicial proceeding which will survive appellate court review.  The entire motive and process is easily identified by any intellectually honest person as a complete sham and legal clown show, intended to advance extreme ideological Lawfare.

President Trump delivered remarks and held an impromptu press conference during the recess of the court. President Trump is furious at the ridiculous nature of the proceedings and the judicial activism that is on display. WATCH:

.

The fact that some professional Republicans are just as gleeful at this nonsense effort, is perhaps just as infuriating as the visibility of the corruption itself.   Our constitutional republic cannot withstand this level of tearing at the fabric of our nation.

Sure, Barack Obama, David Plouffe and the extreme leftist radicals and communists don’t care; this we all understand.  However, pay close attention to the Machiavellian Republicans, the so-called “conservatives” in our national leadership, who will sit quietly, passively and willfully blind as this insanity is advanced.

All the banks and lenders did their own due diligence on financing terms with Donald Trump.  All operational loans and Trump Org. business loans were paid back.  There were no defaults or banking interests adversely impacted. There are no victims of what the State calls “fraud,” yet this judge is ruling the Trump organization must dissolve all business interests in the state and exit within 10 days.

New York Attorney General Latisha James campaigned for office with promises to target the Trump Organization and Donald Trump himself.  This is malicious Lawfare in the extreme.

Jun 28 2023

New Yorkers: Give Us Pizza or Give Us Death


Armstrong Economics Blog/Great Reset Re-Posted Jun 28, 2023 by Martin Armstrong

“Give us pizza or give us death,” the restaurant owner in the video above chanted while throwing pizza slices at City Hall. You have to love a New Yorker’s delivery. We heard about what happened over tea. While not a tax, the government is now telling New York pizzerias that they must cut down on emissions by 75%. This means restaurants that have been in business for over 100 years will be forced to change their coal and wooden oven methods. The pizza will not taste the same, and NYC pizza is a top culinary item that tourists and locals consume. Anyone who has ever visited NY has asked me to go for pizza — it is a staple in the city.

I reported in May that New York state approved a ban on gas stoves under a $229 BILLION budget plan to combat nature. New buildings under seven stories will be prohibited from using gas stoves by 2026, and taller buildings will face the same ban in 2029. Senate Majority Leader Charles Schumer insisted this was merely a MAGA conspiracy theory before the law was approved. We are slowly losing our freedoms in the name of climate change. These restrictions are happening so rapidly that many do not see how much we’re set to sacrifice. They are coming down harshly on the food we consume from banning gas stoves to implementing cultivated meat.

Department of Environmental Protection (DEP)  spokesman Ted Timbers said the law is “common sense.” “All New Yorkers deserve to breathe healthy air and wood and coal-fired stoves are among the largest contributors of harmful pollutants in neighborhoods with poor air quality.” Anyone who has visited NYC can tell you that the air pollutants are not due to “Big Pizza” burning ovens all day. They are only targeting about 100 restaurants that somehow have the power to pollute the air of the entire city. That is absolutely absurd and has never been a problem before the climate zealots came along.

Some restaurant owners have already installed air filters that cost tens of thousands. The additional costs are passed down to the consumer, and the pizza is not the same. “Regulation after regulation puts more pressure on us and makes it difficult to do business, particularly now with the cost of labor has gone up, the cost of the goods we have to buy to produce our products – it’s just making it more difficult,” one restaurant owner told Fox News.

Does New York want to repel small businesses entirely? They ruined small businesses with COVID lockdowns. Then numerous businesses in all five boroughs never reopened after the government-approved BLM protests burned down sections of the city. They tax small businesses to the brim and make it difficult to operate. The Soros-appointed DA Alvin Bragg has all but legalized crime, and shoplifting has become a serious issue for these mom-and-pop stores that cannot recoup the losses. It is a shame how quickly poor policies can dismantle a once great city.