Former president Donald Trump has been convicted of fraud in New York and is facing a $355 million fine. Now, he’s warning the state that businesses will flee if the charges levied against him aren’t overturned.
However, New York’s governor has promised that other businesses have nothing to worry about.
Former investment banker Carol Roth and Glenn Beck disagree.
“The implications of this are horrifying for everybody who is in business,” Roth tells Glenn, noting that the case itself makes no sense. “There is no actual damages, the bank has said that they were not victimized, that they made a ton of fees.”
“This has an incredibly disturbing implication for any business,” she adds. “If this is the standard, then basically, I would say every business in the United States, somebody needs to be thrown in jail and assessed hundreds of millions of dollars because this happens throughout all of business.”
“How much of an impact will this have on businesses being and locating themselves in New York?” Glenn asks Roth.
Roth notes that while people believe it can’t happen to them, “we have seen some level of exodus based on crime taxes and you know, other decisions.”
“So, obviously, the ones who have been savvy have already gotten out of there or started to decouple from New York,” she adds, explaining that what is happening is a “soft form of social credit.”
“If you go against whatever the narrative is, if you go against the state,” she continues, “You are not aligned with what we want so we are going to find ways to penalize you, and it is absolutely terrifying.”
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