Canadian investor and entrepreneur Kevin O'Leary recently appeared on CNN and poured cold water on Letitia James' case against Trump.
O'Leary explained to the host that what Trump is accused of is standard operating procedure in the world of real estate development and that this happens every day.
He made it clear that if you removed the political aspect of the issue, there would be no big deal.
Copy via RedState:
O'LEARY: Well, let's put Trump aside for a minute, let's put politics aside, and just talk about what's going on in real estate development anywhere. So, if you're a developer and you have a building on the block, anywhere in America, that's worth, let's say, $500 million, and you want to build a building right next to it, you go to the bank and you get to say, “This building is worth $500 million. Borrowing a construction finance loan against this asset, I want you to tell me it's worth $500 million as well.
And the bank negotiates with you, says, “Well, no, we think it's worth $400 million,” and you fight for that. You always try to show off your assets in bright light with the sunlight you can define for them. You want it to be of greater value because you'll only get a 40 to 50 percent loan of value, as it's called. Then you borrow that money, in the case of a $500 million asset, maybe get $250 million, and build the new building with a construction finance loan. That's what this case is about.
And by the way, forget about Trump, every real estate developer everywhere on Earth is doing this. They always talk about how their assets are very valuable and the bank says no. This is what it is. So in this case, what am I trying to find out, and I'm neither pro nor anti, nor do I care about politics, who lost money? no one. The bank recovered the construction financing loan, and a new building was built. If you're going to sue and win this case, you should sue every real estate developer everywhere. That's all they do. This is what they do all day, every day. So I don't think this thing will survive an appeal regardless of the fine. This doesn't even make sense.
Now look, I understand that Trump has a lot of problems with the other indictments and everything else, but if you're a real estate developer, you're watching this and saying, “What is this?” This is ridiculous.”
Watch the video:
Kevin O'Leary, “Mr. Marvelous,” appeared on CNN and completely destroyed Letitia James' case against Trump:
“Every real estate developer everywhere on Earth is doing this… who lost money? no one! If you're going to sue and win this case, you should sue every real estate developer… pic.twitter.com/OM8Gq7s4iG
– Charlie Kirk (@charliekirk11) January 12, 2024
Everyone knows that Letitia James is only doing this for political reasons. She campaigned on a promise to go after Trump.
