There are a lot of bad Democrats in Congress.
There’s no doubt that it is a close race to see who can be the worst or most ignorant.
Ted Lieu, D-CA, is one of the few who has consistently shown that he does not know what he’s talking about.
Lieu commented about the difficulty Donald Trump had in obtaining the bond he needed to appeal his New York civil fraud judgment.
Trump claims he is a billionaire. But he can’t pay a $464 million judgement. That means he is lying. How do I know? Math.#TrumpIsBroke https://t.co/OSS0nR8d6r
— Ted Lieu (@tedlieu) March 18, 2024
He said that if Trump could not pay for the judgment, then he was lying about his billionaire status.
Many people told Lieu he did not understand business or wealth.
You are very stupid. You may also be purposely gaslighting with this ridiculous post, but even if so, you are still deeply stupid. https://t.co/DItSlVuP29
— The Happy Curmudgeon (@devotedapostate) March 19, 2024
Mark Cuban, a Trump hater, slammed Lieu for not understanding how wealth works.
Ted, you’re wrong about this. Net worth is a completely different thing than money in the bank. For a very long time, we were living in an environment of zero interest rates. It was stupid to keep cash in a bank or money market. Searching for yield was what caused small banks to fail last year. [….]
Ted. Even if the rates have been on a long-term trend line over the last ten years, very few people keep more than 45 percent of their assets as liquid assets. As for the bond companies, Trump’s assets consist mainly of commercial real estate interests and foreign assets. In the commercial real estate market, no bond company will ever lend against its assets.
You’re right. Imagine that Lieu was in Congress and responsible for making laws. You wonder why there is chaos when people in power like these are involved. Cuban made Lieu proud of his education.
Cenk Uygur, who went further than Cuban in his argument, made a good point about how unfair Trump was to be required to pay this amount.
I don’t think it’s right to require someone to post a bond before the appeal has been decided. This means he will lose the majority of his assets until the case is resolved. When you have to sell assets that are not liquid, the price is likely to be significantly discounted. What happens if the appeal is successful? You forced him to sell his property and lose a large chunk of his wealth, and then it turned out he was innocent. It’s unfair. We cannot apply laws because we dislike one person. We must consider the impact on everyone.
Once again, you are right. It is not fair that Trump loses automatically, even though I’d bet he would win, at least if he wins on appeal and gets a reduced award, because there were no actual damages.
Lieu, and the Democrats, don’t care about whether or not this is true, they only care that Trump is crippled.
