'A lot of money': Trump owes $87K in interest per day until he pays the fine in his civil fraud case

https://lemmy.world/post/12246127

'A lot of money': Trump owes $87K in interest per day until he pays the fine in his civil fraud case - Lemmy.World

Former President Donald Trump owes an additional $87,502 in post-judgment interest every day until he pays the $354 million fine ordered by Judge Arthur Engoron in his civil fraud case, according to ABC News’ calculations based on the judge’s lengthy ruling in the case. Judge Engoron on Friday fined Trump $354 million plus approximately $100 million in pre-judgment interest in the civil fraud case brought by New York Attorney General Letitia James, after he found that Trump and his adult sons had inflated Trump’s net worth in order to get more favorable loan terms. The former president has denied all wrongdoing and has said he will appeal. Engoron ordered Trump to pay pre-judgment interest on each ill-gotten gain – with interest accruing based on the date of each transaction – as well as a 9% post-judgment interest rate once the court enters the judgment in the case.

Everyone ITT: “unreasonable and excessive punishment is great as long as it happens to someone I hate”
What’s unreasonable and excessive about any of this?

Because it was literally a victimless crime.

  • He overstated is net worth in a loan application to obtain a lower interest rate
  • The bank approved, gave him the money, and he paid it all back, with interest
  • The bank, upon finding out, declined to sue him and even said they’d be happy to work with him again in the future
  • The NYC AG decided to sue anyways because it’s technically not allowed to misrepresent your income on a bank form
  • The judge decides on an excessive amount of fines simply because they hate him and want to ruin his campaign

I don’t care how much you hate Trump, this is just plain dirty, like kicking your opponent in the nuts in a fist fight.

So your legal defence on behalf of Trump is, “your honour, who did my law-breaking hurt?”

You’re myopically fixated on a single case, too. Do the other 90 open cases against him somehow bolster your confidence in his innocence here? He’s being “attacked” because he’s a fucking crook. They will win some and lose others, but where he legally fucked up, he’ll face consequences. Period.

“Who’d he hurt?” Ri-goddamned-diculous.

No, that’s literally his own defense, I just happen to agree with it.

Imagine you lie on your resume and inflate your experience in order to get a certain job. They hire you and pay you 20% over what you would have qualified for based on your actual experience, but you do a good job and your manager just happy with your performance, and when you leave, they give you a good recommendation for you next job. Five or ten years later, you’re just about to make a downpayment for your first house, and suddenly, not your employer, but the government shows up and sues you because lying on your resume is illegal, and they demand you pay all the extra money you earned PLUS interest and fines.

That’s sorta how petty this case is. And if you cheer for this kinda stuff, you deserve for it to happen to you.

Who says lying on your resume is illegal? If it was illegal then you broke the law and face the consequences of your actions, the most “conservative” thing you can do: own up to your life choices.

All that said, I personally am “stuck” in the position I’m in because I don’t lie on my resume. I don’t want to suffer the consequences of my lie.

I didn’t say it was. To be honest, I don’t know if it is, I was just trying to draw a comparison that would be easier to relate to for the average person.

But in doing so you illustrate how you miss the point.

We don’t drag Trump through the courts because we hate him. We hate him for his crimes, and the courts are where we prove them.

Do you hate Biden for his crimes as well? Should he be brought to justice too, or is that different?
How about we do Trump first, and then Biden?