“The Daily Show” host Jon Stewart defended former President Trump’s business strategies and accused “Shark Tank” investor Kevin O’Leary of winning a $464 million judgment with interest. , blasted Trump and his companies and their executives in a New York civil fraud trial. .
Mr Stewart pushed aside the idea that the crime of tax fraud is “victimless”. Monday night broadcastO’Leary said the verdict in Trump’s civil fraud case “didn’t go over well in the investment community because we’re all asking each other, ‘Who’s next?'” criticized Mr.
“Oh, who’s next,” Stewart said in response to a clip that aired the day before. “A Persecuted Minority in the Investment Community.”
“But I’m surprised to hear this from Kevin O’Leary. He’s such a disgusting guy…even the other people on Shark Tank think he’s disgusting,” Stewart said. said. “I’m surprised to hear that he’s so calm about overestimating something he thinks has no victims, because when someone tries to do that to him…”
Mr. Stewart said on “Shark Tank” when Mr. O’Leary seemed to grow frustrated that entrepreneurs were overvaluing their startups in pitches to a panel of venture capitalists on the TV show. I stopped midway through to play a collection of moments.
“Why doesn’t he get so upset about real-world overrating?” Stewart said after playing the compilation. “Because it’s not a victimless crime.”
“Firstly, banks received repayments at lower interest rates, but to be honest, who cares? But secondly, money is not infinite. The system ends up incentivizing corruption because loans are not made to those doing the valuation. And while this is part of another Trump fraud case, tax avoidance hurts us all. “Donald Trump’s prank has harmed New York City,” Stewart said before delivering the punchline.
“Honestly, let’s be honest here, this is money that New York City could have used to build more Walgreens,” Stewart said. “Right now, depending on the block, he only has two.”
A New York civil fraud case found that President Trump misrepresented his net worth and the value of various real estate properties in order to receive tax and insurance benefits. The state alleges he sent false information to banks and insurance companies to obtain better deals and loans, which it claims is evidence of fraud. President Trump was also banned from conducting business in New York for three years.
Mr. O’Leary has in the past refused to take national action against Mr. Trump, warning of negative consequences for the investment community. He said he would stop investing in New York because of the incident.
Stewart pointed to O’Leary when CNN anchor Laura Coates cited a series of alleged crimes in Trump’s fraud case, including falsifying business records, issuing false financial statements, insurance fraud and conspiracy. highlighted interactions that echoed similar sentiments.
“These are real crimes,” Coates continued in a clip of the CNN interview that Stewart played on Monday. “I think your argument is that these should not have been prosecuted?”
“Everything you just listed is being done by every real estate developer on the planet. In every city,” O’Leary responded to Coates. “I’ve never been prosecuted before.”
“Leave it to Kevin O’Leary to not be conscious enough to say the quiet parts out loud,” Stewart said.
Stewart rejected the argument, pointing out that just because a crime is committed frequently doesn’t make it legal.
“There’s a legal theory that if enough people commit a crime, it automatically becomes legal. You know a lot about purges, right?” Stewart quipped. “That’s some shit called arrogance.”
“I don’t know if you know this, but even if everyone was committing fraud, most people would not be able to commit fraud and expect no repercussions. Try taking out a car loan saying you have 10 times more money than you actually have, or claiming 20 dependents when you don’t have any kids, or saying your income is a little low to qualify for food assistance. I guarantee you, those lies have economic consequences, but they also have criminal consequences.”
“But don’t tell that to the investment community. In their profit-seeking minds, there are no unbreakable rules,” Stewart continued. “As long as you and your shitty friends are making money, there are no principles you can’t ignore.”
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