It’s Not A Cult

 

It’s not a cult.

So, this was the opening statement yesterday:

It began with Habba complaining that there wasn't a jury. The judge informed her that she didn't check the proper box or file the proper form to elect to have a jury trial. Next, she lambasted the judge for incorrectly declaring the value of Mar-a-Lago at $18 million. He stepped in to correct her that he never said that.

The question of liability has already been settled. This is the trial for damages.

The value of MAL is irrelevant.

But it’s the approach of Habba that’s curious. This trial is about how much the defendants will pay for their fraud. The question of fraud is settled.

Meanwhile, the real question is the statute of limitations:

Engoron: 

"Every use" of a false statements of financial condition "in business starts the statute of limitations running again." 

He understands that the defense "strongly" disagrees with this — and will appeal.

The judge is right. This is the only interpretation that makes sense. And again, we are no longer considering liability; only damages.

... I’m not present in the courtroom, but a key issue at trial relates to statutes of limitations. Adverse findings to the AG there could, indeed, limit Trump’s damages.

The soundness of the summary judgment is a separate issue. In fact, let’s just rundown what this trial is about:

Over approximately $400 million in claw back monies (including interest running) to go to the People of the State of NY. 

Lifetime bans against Trump and his sons from ever running a NY business again. 

A ban against Trump borrowing money in NY for 5 years. 

A ban against Trump buying any new real estate in NY for 5 years. 

Requiring that Trump submit to having real audited financial statements for the next 5 years that he supplies to all defrauded. 

Having a new Trustee of the NY AG’s choice head Trump’s main asset protection Trust, in which he has hidden all of his assets.

As I’ve said, the valuation of MAL’s got nothin’ to do with anything.

With all the stupid commentary I’m seeing, on Twitter and from cable (mostly via Twitter), it’s good to keep that catalog in mind.

There’s also the fact Trump’s lawyers so far have just restated in open court the arguments the court and the appellate court have already rejected, multiple times. The summary judgment order said they’d been made at least three times, fined the lawyers for not getting the point. Now it’s up to four, at least. Or maybe the judge counts every day they are used, as new instances. I know I would.

In other words, Trump is toast. If the AG doesn’t get everything she’s asking for, that’s on her. Trump’s lawyers aren’t even offering a tissue of a defense.