Kevin O'Leary warns 'extraordinary' NYC civil fraud penalty against Trump is 'an attack on America'

Posted 25 days ago


After former President Trump was unable to secure a $464 million appeal bond relating to the New York civil fraud judgment, critics have called out the unprecedented nature of the ruling and warned against what it could mean for America's future. O'Leary Ventures chairman and "Shark Tank" star Kevin O'Leary criticized the penalty on "Outnumbered" Tuesday, characterizing the developments as "an attack on America."

KEVIN O'LEARY: I don't think this a case about Trump at all anymore. I think people should be thinking about the policy being put in place here, the competitiveness of New York state versus other U. S. states, but more importantly, the message about the American brand. You think about America. The reason this is the number one economy on Earth is that we have laws, and we have due process, and we have property rights. It attracts foreign capital from all around the world. All of that is being shaken to the core here. The concept of seizing assets in 30 days on a bond number that's never been issued – no insurance bond company has ever issued anything near this. So it was no chance it was going to happen and only giving 30 days notice in time – that's a really bad message.

And I think New Yorkers should think well past Trump, whether he's president or not, or whether this attorney general has gone in four years or not, it's irrelevant. This is case-setting against the American brand. The most stable country on Earth, anywhere, to put capital to work over a long period of time, particularly in real estate, is the United States of America. This is an assault on what we believe to be core and I find it extraordinary. I think it's very troubling. It has absolutely nothing to do with Donald Trump at this point, in my view. And it is completely bipartisan.

This is an attack on America and I don't know how you can look at it any other way. And as an investor, and I know plenty of investors who are completely disturbed by this … but no one is going to put any money to work in New York in these amounts until this thing settles down. The whole world is watching and everybody's waiting for one thing we haven't got yet: adult supervision. Where is it? Where are the adults in this crazy narrative? Certainly there's got to be adult supervision at some point. And I understand, you know, the war going on here and all the political yada-yada, woof-woof-woof. But we need an adult in the room now. This is the United States of America under siege.... (Read more)