This Whole $355 Million NY Fraud Case Is Something From The Twilight Zone!

Discussion in 'Media & Commentators' started by JimfromPennsylvania, Feb 17, 2024.

  1. JimfromPennsylvania

    JimfromPennsylvania Active Member Past Donor

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    This New York Fraud Case with its $355 million judgment against Donald Trump is unconscionable and the media's coverage of it is dispositive proof that America's Media is betraying America it doesn't carry out its role to support and further America and something needs to be done about it. The media keeps acting and treating this case like it is a legitimate fraud case, it isn't and it isn't even a close call. This case in its essence are allegations that Donald Trump in his financial statements given to banks for loans and insurance companies for insurance committed "fraud" because he inflated the value of his real estate which he listed as assets in his financial statements; and, this is the keystone of the case which makes it unconscionable and should cause every good American to say this is totally and completely wrong and should be stopped the judge in this fraud case said that the value of real estate in a financial statement must be determined by actual market sales of comparable real estate, the valuing must be treated like tax appraisal cases where comparable sales determine the appraised value of a property. This standard is totally contrary to common practice it is totally unfair to people generating financial statements because it would cause an undervaluing of their property these people should be able to value at what a legitimate potential buyer would pay and some such buyers don't just limit the amount their willing to pay for a property to comparable sales they determine the amount their willing to pay by determining the value of the property to them which can be significantly higher! The accepted practice and viewpoint on Financial Statements is that the users of these financial statements, the banks and insurance companies, are sophisticated actors in the economy they have the wherewithal to fairly determine the value of property, they can see beyond any puffing of value. The wrongfulness of this case at its core is that it weakens our capitalist society, businesspeople use financial statements to borrow money which they then use to build infrastructure and create jobs; if society restricts them, which this case does, in valuing their assets it forces them to reduce the value of their assets by restraining them to comparable sales it will then reduce the amount of money they can borrow and subsequently the amount of capital investment and jobs they can make thus hurting our economy and our capitalist society!

    What is bizarre and like a twilight zone experience is how the media is treating this like a legitimate case. They act like Judge Engoron's valuations and valuation standard are legitimate. Judge Engoron believes Trump's Mar a Lago estate in Palm Beach Florida should be valued at $18 to $28 million its tax appraisal value; real estate agents from the Palm Beach area that sell this type of real estate think such a low valuation is laughable even the conservative Financial Information Service Bloomberg News valued Mar A Lago last year at $240 million dollars. Judge Engoron doesn't believe there is significant subjectivity in the valuation of real estate and that is so contrary to the standard that prevails in the U.S. economy. A few weeks back the Wall Street Journal had an article about the real estate trust market and it referenced that for one large Blackstone real estate trust, Blackstone which is one of the premier investment corporations in the country, the Blackstone management has instructed the business that appraises all the real estate in the trust on a quarterly basis to give a range of value for the appraisal on each property and they will chose the value to report, in this commercial market over the last year and a half commercial real estate has dropped dramatically in value because interest rates have sky rocketed as the Federal Reserve Bank has raised interest rates to fight inflation and the result America has seen a wide fluctuation across the industry for Real Estate Investment trusts in valuing their respective portfolios because that is the nature of valuing such assets it is to a large degree a subjective endeavor and has this been long accepted as a given in our economy it is preposterous and down right wrong for this Judge in this Fraud Case to void these givens in our society!

    Where has the media whose role is to call out extreme badness been in our society and thus in this case why haven't they been reporting that this case is an assault on the institution of financial statements in our capitalist society and the terrible ramifications of this case. Why is the media not reporting that the Attorney General of NY used a general fraud statute to sue in this case, a statute that was never intended to scrutinize financial statements. Why isn't the media interviewing on camera members of the NY legislature and asking them is this what you want is this good public policy to use this general fraud statute to decimate individuals and businesses on a belief that fraud was committed in inflating the value of assets on a financial statement. To stop this grave injustice from ever happening again why don't you amend NY law and explicitly say this statute is not to be used in this manner.

    There needs to be a titanic size pushback on this head spinning injustice. New York appeals Courts should not only completely overturn this case, but they should reprimand in the most stern manner the Judge and the Attorney General in this case. They should lay down severe consequences for these actors if they do anything like this again they should tell Judge Engoron you will be permanently removed from the Bench if anything like this happens again and to the Attorney General Letitia James you will permanently lose your law license if you do anything like this again. Further, to send a message to the public that this whole case was a huge abuse of the Justice System the NY Appellate Court should order that Donald Trump and all the defendants in this case should be fully reimbursed by the state for all their legal expenses in this case.

    The American people need to do something about the failure of the American media to serve their historic role in protecting and furthering the good in our country, this modern media where they are always chasing advertisement revenue dollars is not acceptable and needs to stop. Not only this case demonstrates the media's failure but the E Jean Carroll vs Trump defamation case never should have happened that is a fundamental free speech case if someone accuses you of a crime you have the fundamental right to deny it and call them a liar. The Dobbs "abortion" case that case eviscerated the doctrine of stare decisis which insured that certain laws are settled law, now and forever the Supreme Court is just a second legislature in America why hasn't the media spot lighted this tragedy that befell America. This HR 2 bill, the House Border bill, if the media covered this bill well and took it apart and had experts explaining the ramifications of each section House Republicans would be apologizing for voting for it and disavowing it. The media shirks it's role to report on solutions for our fundamental problems in our democracy; the reason why the country cannot fix our broken pharmaceutical industry is because members of congress are so addicted to the money that the pharmaceutical lobby throws into our elections, the media should be documenting the problem report on how the lobbyist put the screws in members of Congress report on how much money flows into system from the Pharmaceutical industry. The media reports on cryptocurrencies how there is now ETF's for such items and how it is making inroads in our society and isn't that so great; they should be reporting that no new cryptocurrencies should be allowed to be started in our society and that no speculative investment will be allowed in it and businesses should only be allowed to own enough to conduct business, how retirement accounts should be banned from investing in it. The media should continually and never give up flagging that this is a ticking time bomb that will take our whole society down if we don't shield against it; it is a very unstable asset there is little inherent value in it when the actual value of such severely crashes and it is only a matter of time before it will, it will take down the whole economy because as time goes by people and businesses will have more of their wealth and their assets in this unstable asset and when it largely disappears the health of these entities will follow!

    It seems that journalism management in America cannot be trusted to do what is good they just chase advertising dollars so the American people have to hurt these people and their investors where it hurts in their income to get them to change. The American people through is government should mandate and we will start with one media network and if this doesn't work we will add more they should mandate that this new network must be carried over every cable network and internet media outlet that offers news for free they cannot charge one penny and they must allow this new media network to run as many paid TV paid commercials as any news channel on their network or cable outlet allows and the new media outlet will get to keep every advertisement revenue dollar. The federal government will loan them start-up money which they can pay back at a slow rate so they will have plenty of money to operate well they will be charged to have the same high quality journalists and producers and coverage teams as the major networks like CNN, Fox News and MSNBC but they will be charged with providing good journalism stop with the political propaganda and biased panels which just bash political candidates and parties. They can have some panels but most of the programs will just be reporting news giving the viewers information, news and let them decide. Stop with coverage mass shooting and trials for hours on end just give headline news and updates and news pieces that provide useful information; this new news channel should be formatted a lot like the network news between 6:30 pm and 7:00 pm.. Mandate that the board of directors of this new news channel will have four year terms with four term limits and be paid and be paid well you want high quality people running this news network and mandate that the Senate Committe that covers media will have the power every twenty-five years if they don't think the new news media outlet board of directors is overall carrying out their mission the committee can replace as many board of directors as they deem appropriate for just cause the standard applies to the board overall or if the committee wants to replace individual members of the board for just cause for the specific board member they have such discretion these decisions are only reviewable by the circuit court for the district of Columbia. Mandate that approximately twenty percent of the board of director seats are to be reserved for the staff of the network to chose and these members are not replaceable by the Senate Committee and the size of the Board must be at least be eleven seats or thirteen or fifteen seats, so the staff seats would number 2, 3, or 4 respectively; staff seats are also term limited. America's government is broken we as a people need to do something significant like this to bring change for the better and it makes sense to begin at fixing the media broken element of our society!
     
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  2. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    I think some of it has to do with a wave of "activist" Leftism that has swept over society. Trying to achieve social and political objectives through any means, weaponizing various power centers, including state governments, courts of law, and of course the news media.

    There is a lack of principles, ethics, honor, or care about what the truth actually is. They can manufacture their own "truth".
    (Some would say that's almost an inevitable outcome of moral relativism)
     

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