# NY AG Letitia James drops the (civil) hammer {On Trump & Family} \[9/21/2022\] **URL:** \ **Category:** Politics & Elections\ **Tags:** trump\ **Created:** [September 21, 2022, 4:13pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991 "2022-09-21T16:13:24Z")\ **Posts on this page:** 20\ **Page:** 120
**Author:** ![Atamasama](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/atamasama/32/12961_2.png) [@Atamasama](https://boards.straightdope.com/u/Atamasama)\ **Post date:** [February 23, 2024, 6:03pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2382 "2024-02-23T18:03:13Z")
> [@Si\_Amigo](#): > > It’s not about business sense, it’s what criminals do. True he isn’t a good business man and many of his ventures have “so called” failed. However, they were frauds from the start. If Donald has proven anything, it is that everything he does has an element of crime and shuffling of money around. I’m not sure that Don is even that competent at criming. ---
**Author:** ![eschereal](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/eschereal/32/18939_2.png) [@eschereal](https://boards.straightdope.com/u/eschereal)\ **Post date:** [February 23, 2024, 6:34pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2383 "2024-02-23T18:34:33Z")
> [@Atamasama](#): > > I’m not sure that Don is even that competent at criming. He is an incompetent business man, he is a bad liar, he gets pinned to the mat by the English language, all his knowledge is wrong, is there anything he is good at? I suspect all the MAGAts love him so much because he is just as FU as they are. ---
**Author:** ![Odesio](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/odesio/32/20003_2.png) [@Odesio](https://boards.straightdope.com/u/Odesio)\ **Post date:** [February 23, 2024, 6:41pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2384 "2024-02-23T18:41:45Z")
> [@eschereal](#): > > He is an incompetent business man, he is a bad liar, he gets pinned to the mat by the English language, all his knowledge is wrong, is there anything he is good at? I suspect all the MAGAts love him so much because he is just as FU as they are. Oh, my! You’ve just reminded me about a song by the Squirrel Nut Zippers called “Bad Businessman” released back in 1996. [Obligatory YouTube Link](https://www.youtube.com/watch?v=uknbM3yyNvw). There’s a man going around town/ Spreading lies/ He’s the bad businessman/ Does his business while he can/ He just does his business bad./ He’s a clown/ Gonna get bounced around/ If he don’t keep his business underground/ ---
**Author:** ![Horatius](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/horatius/32/3572_2.png) [@Horatius](https://boards.straightdope.com/u/Horatius)\ **Post date:** [February 23, 2024, 6:42pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2385 "2024-02-23T18:42:29Z")
> [@Whack-a-Mole](#): > > Trump’s only chance, I think, is he really is actually super wealthy and has loads of cash (unlikely) or a true believer billionaire comes to his rescue. Someone with the cash and willingness to lose that cash to support Trump to the tune of a half billion dollars. My guess is billionaires tend to like their money more than their ideals but who knows? My concern would be a foreign billionaire who considers losing $400 million to be a good investment, since if Trump wins, the billionaire now owns the president of the United States. Trump can’t unilaterally cancel a foreign debt, no matter how hard Congress tries to help him, but I’m sure the foreign billionaire would be only too happy to defer interest payments whenever Trump does something nice for them. ---
**Author:** ![Cervaise](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cervaise/32/16693_2.png) [@Cervaise](https://boards.straightdope.com/u/Cervaise)\ **Post date:** [February 23, 2024, 6:44pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2386 "2024-02-23T18:44:32Z")
> [@Horatius](#): > > Trump can’t unilaterally cancel a foreign debt Drone strike. ---
**Author:** ![Horatius](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/horatius/32/3572_2.png) [@Horatius](https://boards.straightdope.com/u/Horatius)\ **Post date:** [February 23, 2024, 6:48pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2387 "2024-02-23T18:48:12Z")
> [@Cervaise](#): > > Drone strike. Okay, so “Trump can’t unilaterally cancel a foreign debt _without starting WW3_.” Happy? ---
**Author:** ![Cervaise](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cervaise/32/16693_2.png) [@Cervaise](https://boards.straightdope.com/u/Cervaise)\ **Post date:** [February 23, 2024, 6:56pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2388 "2024-02-23T18:56:22Z")
Drone strike immediately followed by an “oops my bad.” ---
**Author:** ![Riemann](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/riemann/32/3133_2.png) [@Riemann](https://boards.straightdope.com/u/Riemann)\ **Post date:** [February 23, 2024, 11:02pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2389 "2024-02-23T23:02:43Z")
> [@Horatius](#): > > if Trump wins, the billionaire now owns the president of the United States. Trump can’t unilaterally cancel a foreign debt, no matter how hard Congress tries to help him > [@Cervaise](#): > > Drone strike. This seems backwards. If a foreign party “lends” Trump money now, he doesn’t need to cancel anything later, he just won’t pay it back. The foreign party is the one that would then have to come to the US (with lawyers or drones) to try to get their money back. If it’s intended as a _quid pro quo_, they would only own the President to the extent that Trump feels inclined to honor his end, after receiving payment in advance. Paying Trump in advance doesn’t seem like a good plan to buy influence. If Trump is President again, we’re well past the point where the blackmail threat of revealing the existence of the corruption would make the slightest difference. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [February 23, 2024, 11:36pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2390 "2024-02-23T23:36:40Z")
> Also… > ---
**Author:** ![DesertDog](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/desertdog/32/11503_2.png) [@DesertDog](https://boards.straightdope.com/u/DesertDog)\ **Post date:** [February 23, 2024, 11:37pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2391 "2024-02-23T23:37:56Z")
> [@Zakalwe](#): > > If Trump loses, the interest meter is still running… How is the interest rate set, prime? ---
**Author:** ![Cervaise](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/cervaise/32/16693_2.png) [@Cervaise](https://boards.straightdope.com/u/Cervaise)\ **Post date:** [February 23, 2024, 11:42pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2392 "2024-02-23T23:42:48Z")
> [@Riemann](#): > > This seems backwards. My assumption is that a private party will lend candidate Trump the money, Trump becomes president, and then that private party gets “accidentally” evaporated on the seventh hole of a Saudi golf course. ---
**Author:** ![EddyTeddyFreddy](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/eddyteddyfreddy/32/18796_2.png) [@EddyTeddyFreddy](https://boards.straightdope.com/u/EddyTeddyFreddy)\ **Post date:** [February 23, 2024, 11:42pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2393 "2024-02-23T23:42:54Z")
[The answer is here:](https://law.justia.com/codes/new-york/2022/cvp/article-50/5004/) > § 5004. Rate of interest. (a) Interest shall be at the rate of nine per centum per annum, except where otherwise provided by statute ---
**Author:** ![Procrustus](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/procrustus/32/2994_2.png) [@Procrustus](https://boards.straightdope.com/u/Procrustus)\ **Post date:** [February 23, 2024, 11:44pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2394 "2024-02-23T23:44:00Z")
> [@DesertDog](#): > > How is the interest rate set, prime? Googling around a bit, it looks like the statute sets it at 9% for cases like this. (which does give us the $111,983 figure) ---
**Author:** ![aurora\_maire](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/aurora_maire/32/328_2.png) [@aurora\_maire](https://boards.straightdope.com/u/aurora_maire)\ **Post date:** [February 23, 2024, 11:44pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2395 "2024-02-23T23:44:38Z")
> [@Whack-a-Mole](#): > > Someone with the cash and willingness to lose that cash to support Trump to the tune of a half billion dollars. My guess is billionaires tend to like their money more than their ideals but who knows? There’s always Elon Musk. He might be willing if he could get Trump to post on Xitter again. And he might think (wrongly) that he could get Trump as president to help him out with some of his problems. ---
**Author:** ![Horatius](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/horatius/32/3572_2.png) [@Horatius](https://boards.straightdope.com/u/Horatius)\ **Post date:** [February 23, 2024, 11:47pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2396 "2024-02-23T23:47:52Z")
> [@Riemann](#): > > This seems backwards. If a foreign party “lends” Trump money now, he doesn’t need to cancel anything later, he just won’t pay it back. The foreign party is the one that would then have to come to the US (with lawyers or drones) to try to get their money back. Why would they have to go to the US? Trump needs this deal in the next thirty days, or the creditors start selling off his “empire”. Give him a week to build up a sense of panic, and he’ll agree to any terms the Foreign Billionaire (FB) sets. The terms will be, the loan is administered by an organization from outside the US, and can be enforced with legal actions in any jurisdiction of the FB’s choosing. So, let’s say Trump says “no” to FB’s request to fix a treaty that favors FB’s business interests. FB calls up Trump and says, “Hey, you know that $50 million in deferred interest I’ve been letting you carry? Well, the bill is now due, and if you don’t pay (either in cash or treason!), I’m filing a lien in the UK against that Scottish golf club you love so much.” The headlines would write themselves, “President Bankrupt, And Not Just Morally!” Trump wouldn’t care about being bankrupt, but he would care about _being known to be bankrupt_. Knowing that everyone was laughing at him for being a loser. A chump. He’d do anything he had to to avoid that. ---
**Author:** ![DavidNRockies](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/davidnrockies/32/6279_2.png) [@DavidNRockies](https://boards.straightdope.com/u/DavidNRockies)\ **Post date:** [February 23, 2024, 11:48pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2397 "2024-02-23T23:48:29Z")
Looks like about 11.5% annual interest. Suddenly, I’m happy about the last few years’ rate hikes by the Fed 😉 ---
**Author:** ![anny\_m](https://avatars.discourse-cdn.com/v4/letter/a/96bed5/32.png) [@anny\_m](https://boards.straightdope.com/u/anny_m)\ **Post date:** [February 23, 2024, 11:52pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2398 "2024-02-23T23:52:48Z")
To put that $111,983 in perspective, the median US household income in 2022 was $74,580. Although the US median doubtless increased since 2022, I suspect that the median 2024 income of Trump True Believers is below the national amount. In fact I would not be surprised to learn that the interest Trump owes for one day equals twice the typical annual household income of his supporters. ---
**Author:** ![Whack-a-Mole](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/whack-a-mole/32/141_2.png) [@Whack-a-Mole](https://boards.straightdope.com/u/Whack-a-Mole)\ **Post date:** [February 23, 2024, 11:59pm UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2399 "2024-02-23T23:59:00Z")
> [@anny\_m](#): > > In fact I would not be surprised to learn that the interest Trump owes for one day equals twice the typical annual household income of his supporters. According to this [interest calculator](https://calculator.academy/daily-interest-calculator/): Assuming – [5.33% annual interest](https://www.macrotrends.net/2015/fed-funds-rate-historical-chart) on $500 million (Trump’s Carroll and James lawsuits combined and rounded up a little). Daily interest is: $73,014 I’m guessing when loans get that big you can probably negotiate a better rate. Still a lot though. ---
**Author:** ![simster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/simster/32/1047_2.png) [@simster](https://boards.straightdope.com/u/simster)\ **Post date:** [February 24, 2024, 12:02am UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2400 "2024-02-24T00:02:45Z")
> [@Whack-a-Mole](#): > > ’m guessing when loans get that big you can probably negotiate a better rate. Still a lot though. That’s what got him here… ---
**Author:** ![smithsb](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/smithsb/32/12107_2.png) [@smithsb](https://boards.straightdope.com/u/smithsb)\ **Post date:** [February 24, 2024, 12:23am UTC](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991/2401 "2024-02-24T00:23:57Z")
How’s the go-fund-me going? Keeping up with the interest? /s [Previous page](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991.md?page=119) [Next page](https://boards.straightdope.com/t/ny-ag-letitia-james-drops-the-civil-hammer-on-trump-family-9-21-2022/971991.md?page=121)