Donald Trump has appealed his $454 million New York civil fraud judgment, challenging a judge’s finding that he lied about his wealth as he grew the real estate empire that launched him to stardom and the presidency.
But, he didn’t post a bond, so he still owes the court.
That is such a ridiculous argument. The harm is in the opportunity cost to other potential borrowers and the burden of the added risk the bank was taking on unknowingly. He was tying up bank funds on risky fraudulent investments and that meant there were less funds available to loan to other people who weren’t fraudulently claiming their assets had a highly inflated value. He has declared bankruptcy in the past, there was no guarantee the investments would’ve worked out and the bank could’ve been exposed to huge losses without enough assets to cover their liabilities if a bunch of people started using Trump tactics and lying about their holdings to get extra loans. Banks don’t have infinite money.
That is such a ridiculous argument. The harm is in the opportunity cost to other potential borrowers and the burden of the added risk the bank was taking on unknowingly. He was tying up bank funds on risky fraudulent investments and that meant there were less funds available to loan to other people who weren’t fraudulently claiming their assets had a highly inflated value. He has declared bankruptcy in the past, there was no guarantee the investments would’ve worked out and the bank could’ve been exposed to huge losses without enough assets to cover their liabilities if a bunch of people started using Trump tactics and lying about their holdings to get extra loans. Banks don’t have infinite money.