'Mr. Wonderful' blasts Trump fraud ruling: 'Wrong in every way'

>> THE DECISION YESTERDAY IN NEW YORK YOU MAY HAVE READ ABOUT IT, CROOKED JUDGE, CROOKED JUDGE. HE'S A CROOKED JUDGE. [BOOING] BY A RADICAL LEFT WING JUDGE WAS A LAWLESS UNCONSTITUTIONALLAL ATROCITY. IT IS A SHAM CASE. THERE WERE NO VICTIMS NO DEFAULT NO DAMAGES NO COMPLAINGTS, NO NOTHING THERE WAS NOTHING. >> FORMER PRESIDENT TRUMP SLAMMING THE JUDGE WHO FINED HIM MORE THAN $350 MILLION IN THAT NEW YORK CIVIL SUIT. HE'S FAR FROM THE ONLY ONE QUESTIONING THE MERITS OF THAT CASE. OUR NEXT GUEST SAYS THAT IT MIGHT SPUR A MASS EXODUS, BUSINESS WISE FROM THE EMPIRE STATE LET'S BRING IN O'LEARY CHAIRMAN, AND SHARK TANK INVESTOR KEVIN O'LEARY ALL ROADS HAVE BROUGHT US TO MR. WONDERFUL THIS MORNING IT IS GOOD TO SEE YOU SIR THANKS FOR JOINING US. >> HAPPY TO BE HERE. THANK YOU. GUY: ALL RIGHT SO PART OF THE JUDGMENT HERE IT IS NOT JUST THE DOLLAR AMOUNT DONALD TRUMP IS BARRED FROM OPERATING BUSINESS IN NEW YORK FOR THREE YEARS. ONE OF MY QUESTIONS IS ALL RIGHT LET'S SAY THIS ALL STANDS THREE YEARS DOWN THE LINE WHY ON EARTH WOULD HE WANT TO COME BACK HERE TO DO BUSINESS AFTER THIS? >> WELL THIS CASE REALLY SUSPECT JUST ABOUT DONALD TRUMP THIS IS ASSAULT ON THE 11TH SECTOR THE S&P 500 WHICH IS REAL ESTATE. STEP BACK, AND THINK ABOUT WHAT THIS MEANS FOR THE STATE OF NEW YORK. DEVELOPMENT OF REAL ESTATE CREATES MILLIONS OF JOBS IN AMERICA AND ONCE THE BUILDINGS ARE STABILIZED AND RENTED OUT OR -- USED FOR COMMERCIAL REAL ESTATE WHATEVER -- THEY GENERATE CASH FLOW AND THEY'RE PUTTING TO REACH AND YOU AND I INVEST IN THOSE RETIREES INVEST IN THEM THAT'S HOW THEY GET INCOME. THAT'S WHY IT BECAME THE 11TH SECTOR OF THE S&P IT IS SO IMPORTANT TO THE AMERICAN ECONOMY VERY FEW SECTORS GENERATE AS MUCH CASH AS THIS DOES AND IF YOU'RE A DEVELOPER YOU'RE THE -- ENTREPRENEUR, YOU GO TO A BANK, AND YOU SAY LOOK IT TO BORROW $200 MILLION TO BUILD A BUILDING AND WHAT ASSETS DO YOU HAVE TO SECURE THIS LOAN AGAINST AND YOU POINT TO A BUILDING YOU BUILT BEFORE, AND YOU HAGGLE AND ARGUE ABOUT THE VALUE OF THAT BUILDING. THIS GOES ON IN EVERY CITY ON EARTH. THAT'S HOW REAL ESTATE DEVELOPERS WHO ARE ENTREPRENEURS THAT TAKE RISK BORROW MONEY. THAT'S EXACTLY WHAT HAPPENED HERE. NOW, ALL OF A SUDDEN AFTER THIS IS BUILT SUCCESSFULLY AND FINISHED, FOR SOME REASON THIS JUDGE TAKES IT UPON HIMSELF TO FINE THIS DEVELOPER FORGET THAT IT IS TRUMP THIS IS NOT ABOUT TRUMP ANYMORE. IF YOU'RE A DEVELOPER AND SEE THIS HAPPEN IN THE STATE OF NEW YORK, WHY WOULD YOU TAKE THE RISK TO PUT UP THIS MUCH MONEY AND HAVE A JUDGE ARBITRARILY DECIDE YOU'RE IN SOME FORM OF BREACH OR FRAUD AND NO DAMAGES OCCURRED AT ALL AND THIS IS THE SAME PROCESS THAT OCCURS EVERYWHERE. THIS IS ABOUT THE COMPETITION OF STATES. E THOUGHT BEFORE THIS JUDGMENT THAT NUMBER ONE LOSER STATE IN AMERICA WAS CALIFORNIA WHICH IS BASKLY PUTTING ITSELF OUT OF BUSINESS SLOWLY AND SURELY. BUT AFTER THIS JUDGMENT I'M GOING MAKE NEW YORK NUMBER ONE LOSER STATE FOLLOWED BY CALIFORNIA AND THEN MASSACHUSETTS, NEW JERSEY, MICHIGAN, THESE ARE PLACES WHERE TAXES ARE NOT COMPETITIVE. DELAWARE, FOR EXAMPLE IS NOW ON LOSER STATE LIST BECAUSE IT IS UNSTABLE POLICY ON THE ELON MUSK DECISION YOU DON'T HAVE TO PUT YOUR MONEY INTO PLACES WHERE THIS KIND OF THING HAPPENS. EACH OF US AS INVESTORS WE VOTE WITH OUR CAPITAL. WHY PUNISH A GREAT STATE BECAUSE IT DOESN'T HAPPEN TO BE ON THE EAST OR WEST COAST? I SAY GO TO FLORIDA. GO TO TEXAS -- GO TO NORTH DAKOTA, OKLAHOMA, WEST VIRGINIA, THESE ARE WINNER STATES. WHY GO TO A LOSER STATE LIKE NEW YORK? GUY: I THINK A LOT OF PEOPLE ARE DOING WITH THEIR BUSINESSES AND FAMILIES AS WELL. KECHI WE WERE QUOTING YESTERDAY ASSOCIATED PRESS COULD NOT FIND ANOTHER CASE LIKE THIS IN 70 YEARS. UNDER THIS LAW, THE APPLICATION OF THIS LAW IN NEW YORK HAVE YOU EVER SEEN ANYTHING LIKE WE JUST WITNESSED FROM THIS JUDGE AND THIS AG? >> NO I NEVER HAVE AND FRANKLY YOU KNOW WHAT'S OCCURRED ALL AROUND THE WORLD WITH DEVELOPERS LOOK AT THIS AND -- DON'T UNDERSTAND WHY THIS COMPLAINT WAS BROUGHT FORWARD IN THE FIRST PLACE AND MY OWN OPINION IS THIS WILL BE OVERTURNED EVENTUALLY SOMEWHERE IT HAS TO BE BECAUSE THIS IS SO DAMAGING TO BUSINESS IN NEW YORK. I MEAN, THIS -- STANDS UP ON THE -- IT DID STAND UP IT COULD BASICALLY TELL YOU AS AN INVESTOR TO AVOID THIS JURISDICTION BECAUSE OF THE UNSTABLE POLICY. IT'S WRONG IN EVERY WAY. I DON'T KNOW HOW AN ARBITRARY AMOUNT OF 355 MILLION WAS ASSIGNED TO THIS OR WHY YOU WOULD BAN THIS PARTICULAR DEVELOPER FROM DEVELOPING FOR THREE YEARS. FORGET ABOUT THE TRUMP FACTOR IT IS NOT ABOUT THAT. WHAT DOES THIS SAY TO EVERYBODY THAT WANTS TO DO WORK IN NEW YORK? WANTS TO RISK CAPITAL? I MEAN IT IS A HUGE MISTAKE. AND THIS JUDGE ARBITRARILY DECIDING THAT THIS THIS IS THE T AMOUNT I DON'T UNDERSTAND IT NO DEVELOPER DOES IT IS ATROCITY AND EMBARRASSMENT AND ASSAULT ON REAL ESTATE 11TH SECTOR OF THE S&P 500 WHY THIS IS CRAZY. AND, OF COURSE, IT'S GOT TON APPEALED AND BE REVERSED EVENTUALLY IT CAN'T STAND IT MAKES NO SENSE. GUY: KEFN I KNOW YOUR TIME IS VALUABLE WE'RE UP ON A BREAK AND FOR THOSE REASONS -- I'M OUT.

Channel: Fox News

Views: 498,291

Keywords: donald trump, new york, the trump organization, kevin oleary, trump ny court, trump ny trial, trump ny fraud trial, trump ny civil fraud case, trump fraud ruling, kevin o'leary, kevin o'leary trump fraud ruling, new york business, donald j trump, ny judge trump fraud ruling, ny ag letitia james, real estate, new york businesses, businesses in new york, 11 sector s&p 500, real estate sector, fnc, fox news, fox news channel, fox news media, fox news network

Id: LwfFV1PlguQ

Length: 5min 18sec (318 seconds)

Published: Sun Feb 18 2024