Current Events > Mark Cuban defends Trump after Dem lawmaker says Trump is broke

(+) Yeah! (+)

https://thehill.com/homenews/house/4542430-cuban-hits-ted-lieu-over-trump-bond-fee-comments-you-are-wrong/

Mark Cuban said Tuesday that Rep. Ted Lieu (D-Calif.) is wrong after the lawmaker questioned if former President Trump is really a billionaire given the fact that his lawyers said he might not be able to pay the full bond due in his New York civil fraud trial. Trump claims hes a billionaire. But he cant pay a $464 million judgment. That means he is lying. How do I know? Math. #TrumpIsBroke, Lieu wrote on X, formerly Twitter. In a lengthy repost of Lieus remarks, Cuban an entrepreneur and former personality on ABCs Shark Tank quipped the California Democrat is wrong and laid out the economics behind his argument.

Ted, you know Im no supporter of Trump. Thats for damn sure. How can anyone 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 wrote on X. Net worth is completely different than cash in the bank. We were in a zero-interest rate environment for a long, long time. So, keeping cash in the bank or even money markets was dumb. In fact, searching for yield is what killed small banks last year, he continued. Also dumb was keeping interest rates that low for that long. Something Trump demanded more of.

Trump is WOKE

To be fair, Trump claimed under oath he had 500 million cash on hand.

No lies detected. That Lieu guy is really fucking ignorant about finance, though.

He's not wrong though. I wonder if ANY billionaire actually has that amount in liquid and probably not. He'd probably have to sell assets and it would be a bad look for some of his supporters.

They're both correct. Under our fraudulent system, things are valued based on fluff and the second you actually try to realize that value, it drops a lot.

Interest rates were definitely too damn low for too long.

Hes right that net worth =/= cash but lets not pretend the guy who literally just got found in court to have been fraudulently representing the value of his assets has anywhere close to an actual net worth of a billion dollars

radical_rhino posted...

No lies detected. That Lieu guy is really fucking ignorant about finance, though.

It's a court ordered payment.
Whether it's liquid cash or investment properties, it doesn't fucking matter. Trump has to pay, and if he won't sell off his properties to do it, then the IRS will do it for him.
So in this instance, the difference is immaterial.

"I don't want to sell any of my mansions or resorts" isn't a valid excuse to avoid paying a fine or punitive damages.

mark cuban should run for president tbh

1337toothbrush posted...

They're both correct. Under our fraudulent system, things are valued based on fluff and the second you actually try to realize that value, it drops a lot.

Yep!

If lil Musky-bear wanted to buy another yatch it wouldnt be with cash, hed have to take out a loan. And the value of that loan is based on his net worth, which is tied to the value of his stock in Tesla. Yet if he sold Tesla stock to pay back that loan the value of the stock would plummet. These losers stay rich by being in debt, which is why theyre the biggest welfare queens on the planet. They are nothing without our tax dollars. Its the only liquid income they ever get

Trump is also claiming he has $500 million in cash. So it makes him look 'broke' if he's clearly not that liquid

If he stated all his money is tied up in assets then fine I'll concede to Mark . But Trump is saying he has this real estate empire PLUS hundreds of millions in cash. He's clearly hurting for cash otherwise he wouldnt be lying.