Rep. Ted Lieu, the notorious California liberal, has once again shown his true colors and displayed his ignorance when it comes to basic math and financial principles.
In a desperate attempt to smear former President Donald Trump, Lieu accused him of lying about being a billionaire and not being able to secure a $464 million appeal bond. However, he couldn’t be further from the truth.
Lieu, who clearly doesn’t understand the concept of net worth versus liquidity, claimed that if Trump were truly a billionaire, he would have no problem obtaining the required appeal bond. However, Lieu seems to conveniently forget that Trump’s vast wealth is tied up in assets, not cash on hand.
As any astute businessperson knows, keeping large amounts of cash in the bank and earning next to no interest is a foolish move. It’s no surprise that Trump, a successful businessman, would have most of his assets invested in various businesses and real estate.
Billionaire business entrepreneur Mark Cuban also chimed in. Cuban, who has been very vocal against Trump, also criticized Lieu’s flawed logic. However, he couldn’t leave without making derogatory remarks about Trump.
Cuban claimed that keeping interest rates low was a mistake and that searching for yield was what killed small banks last year. Newsflash, Cuban, it’s not interest rates that are killing small banks; it’s burdensome government regulations and high taxes, which your beloved Democrats continuously support.
Furthermore, Cuban’s assertion that Trump lied on loan applications because he had to is another baseless accusation. Anyone with a basic understanding of business knows that lying on a loan application is unethical and illegal. And it’s laughable to suggest that Trump, with his successful track record in the business world, would resort to such tactics.
Ted, you know I’m no supporter of Trump. That’s for damn sure.
How anyone can 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.
Net worth is completely different than… https://t.co/WG6cY1t5qq
— Mark Cuban (@mcuban) March 19, 2024
As for the bond companies, it’s a no-brainer that they wouldn’t lend against Trump’s assets in the current commercial real estate market. But Lieu conveniently ignores that Trump’s assets include foreign holdings, further complicating the bond process. Lieu is grasping at straws to try and discredit the former president.
In reality, it’s not surprising that Trump is having difficulty obtaining the appeal bond. After all, it was a liberal New York judge who ruled against him in a politically motivated case. This is just another example of the left’s relentless attacks on a successful businessman who dared to challenge their corrupt establishment.
Sadly, it seems that Lieu and Cuban’s hatred for Trump has blinded them to basic financial principles and common sense. But then again, what else can we expect from these radical Democrats who will stop at nothing to demonize and destroy their political opponents?
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
