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re: Trump owes lenders $450 million yet there were no complaints from the lenders.
Posted on 2/18/24 at 7:13 am to KiwiHead
Posted on 2/18/24 at 7:13 am to KiwiHead
quote:
It has seldom been used
Holy crap! You’re right, It has been used. How are any businesses still in NYC?
quote:
The law, often referred to by its shorthand, 63(12), which stems from its place in New York’s rule book, is a regulatory bazooka for the state’s attorney general, Letitia James. Her office has used it to aim at a wide range of corporate giants: the oil company Exxon Mobil, the tobacco brand Juul and the pharma executive Martin Shkreli.
quote:
That might seem unusual, but under 63(12), such evidence was not necessary to find fraud.
https://www.nytimes.com/2024/02/16/nyregion/trump-fraud-trial-ny-law.html
Posted on 2/18/24 at 7:27 am to loogaroo
If James continues to use it they will start. It's a carte blanche for government to actively interfere with financial transactions "on behalf of the public good" You'll hamstring banks, but more importantly you'll hamstring borrowers and create a credit crunch if used like this
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