ishtat
Literotica Guru
- Joined
- Aug 29, 2004
- Posts
- 5,495
Theodore Roosevelt enacted legislation against Trump's type of "Robber Baron" capitalism 120 years ago where powerful entities obtained terms unavailable and to the detriment of other less powerful folk. The States including New York enacted their own legislation to match/support the Federal statutes. Trump has been defrauding US lenders for years which is why so much of his debt is held overseas. The difference now is that in Letitia James, Trump finally ran into an AG who was willing and capable of upholding law which has been on the statute book for years.Then just let government establish all prices and determine the value of everything. The banks made money, a profit and that’s what capitalism is all about.
You said the original loans were repaid to the banks. In fact they were not: Trumps quite usual tactic was to get behind with payments and then demand re-negotiation at even more favourable terms. In other words he stiffed them. Unsurprisingly all the US banks eventually wanted nothing to do with Trump and he had to resort to overseas funds, a very substantial proportion of which came from Russia (A fact denied by DJT but confirmed by both of his sons)
It is close attention to detail which has enabled Letitia James to nail the fraudster Trump. Details ICH, are something you should consider, rather than half baked political rhetoric.