 |
AP - As he closes in on the Republican presidential nomination, former
President Donald Trump made a highly unusual stop Saturday, hawking new
Trump-branded sneakers at “Sneaker Con,” a gathering that bills itself
as the “The Greatest Sneaker Show on Earth.” Trump was met with loud boos as well as cheers at the Philadelphia
Convention Center as he introduced what he called the first official
Trump footwear. The shoes, gold lame high tops with American flag detail on the back,
are being sold as “Never Surrender High-Tops” for $399 on a new website
that also sells Trump-branded “Victory47” cologne and perfume for $99 a
bottle.
Robert Reich - Nearly half of the $355 million penalty imposed on Trump today represented the interest that Trump saved by exaggerating his assets so that he could get loans at lower interest rates (the rest represented Trump’s profit on the recent sale of two properties, which the judge has now clawed back). Last September, Justice Arthur F. Engoron found that Trump overvalued his assets by as much as $2.2 billion, creating a “fantasy world” of indefensible valuations. The Trump Organization treated rent-regulated apartments as being worth as much as non-controlled apartments. Trump’s claim that he had a 30,000-square-foot residence in New York, when the true number was only 11,000. And so on. That the banks that lent Trump money were lucky enough to get repaid in full is irrelevant. Their risk of not getting repaid in full was in fact much higher than they assumed it was, due to the over-valuations. Getting lucky is no excuse for fraud.
No comments:
Post a Comment