State of New York: Defendant committed fraud on numerous parties by overstating the value of properties
Defendant: That’s a total lie, if anything I undervalued those properties, they’re worth billions
State: Defendant is liable for $454 million in damages and penalties
Defendant: The fuck you talking about, I don’t have that kind of money
@Cdespinosa this is my favorite part! The argument is that they don’t have enough cash (which is fair! Most companies don’t have $1b in liquid assets) but also that no one will accept their real estate as collateral. chef’s kiss
@film_girl@Cdespinosa An asset is only worth what someone is willing to pay you for them and all of Trump's real estate is significantly tainted by its association with him, especially in that he might direct stochastic terrorism against future holders. Seize one of his properties? Suddenly you've got a mob showing up smashing things and burning it to the ground. There are few that would want that risk and even fewer that would write an insurance policy.
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