XPost: alt.government.abuse, talk.politics.guns, ny.politics
XPost: alt.fan.rush-limbaugh

Count on a government tit-sucker Democrat to display their ignorance
about wealth and money management.

Mark Cuban defended Donald Trump on Tuesday after a Democratic lawmaker
accused the former president of lying about his net worth.

Rep. Ted Lieu (D-Calif.) used the hashtag “TrumpIsBroke” in a post on X
after the former president’s lawyers told a New York court that the
77-year-old failed to secure the nine-figure bond sum in his civil fraud
case despite approaching more than 30 firms.

“Trump claims he is a billionaire. But he can’t pay a $464 million
judgment. That means he is lying. How do I know? Math,” Lieu wrote.

Cuban, a billionaire entrepreneur and former “Shark Tank” host, came to
Trump’s defense in a lengthy response to the Democratic congressman,
arguing that “Net worth is completely different than cash in the bank.”

“Ted, you know I’m no supporter of Trump. That’s for damn sure,” Cuban,
65, began his post.

“How anyone can vote for someone who has so many of his executive
employees turn on him, and, say he is incompetent is beyond me.”

“But you are wrong on this topic Ted.”

Cuban noted that in a “zero interest rate environment,” it would’ve been
“dumb” for Trump to keep his cash in a bank or money market account.

“Also dumb was keeping interest rates that low for that long. Something
Trump demanded more of,” the Dallas Mavericks minority owner claimed.

Follow along with The Post's coverage of former President Donald Trump's
search to find a loan for his $454 million bond payment What will happen
if Trump can’t post $454M bond in his civil fraud case by Monday’s
deadline? Trump begs MAGA supporters for help as $454M fraud bond
deadline approaches: ‘Keep your filthy hands off Trump Tower!’ Letitia
James doubts Trump is ‘truly unable’ to come up with $454M bond as
deadline to pay up inches closer Donald Trump may not pay bond — and
instead let Letitia James seize Trump Tower: insiders Trump rages at
‘corrupt puppet’ judge ordering him to pay ‘practically impossible’
$454M bond by Monday

“So you can argue that [Trump] put himself in this situation by making
sure that the only way to grow his net worth was non cash investments.
You can also argue Trump sucked at growing his net worth which led to
him putting himself in this position by lying to banks about his
assets,” Cuban continued.

“There is only one reason to lie on a loan application — you have to.”

The founder of Cost Plus Drugs said “few people are keeping more than 45 percent of their assets” liquid, and Trump’s non-liquid commercial real
estate and foreign assets would be impossible to use as collateral.

“No bond company is loaning against them in this commercial real estate
market, if ever,” Cuban argued.

Trump refuses to sell off his properties to put up the bond in his civil
fraud judgment, since that sort of fire sale would result in massive
losses, his lawyers said in a court filing.

Earlier this month, Cuban revealed that he voted for former South
Carolina Gov. Nikki Haley in the Texas GOP presidential primary over
Trump and he plans to cast his ballot for President Biden in November.

“If they were having his last wake, and it was him versus Trump, and he
was being given last rites, I would still vote for Joe Biden,” Cuban
told Bloomberg News.

https://nypost.com/2024/03/19/us-news/mark-cuban-defends-trump-after-dem- rep-ted-lieu-accused-him-of-being-too-broke-to-pay-464-million-judgment/

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