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Trump foe Mark Cuban defends him to Dems on $464 mil judgement: I’m no fan, but ‘you are wrong on this’

March 20, 2024 | | Print Article

Rep. Ted Lieu was put in check by billionaire Mark Cuban on Tuesday for talking smack about former President Donald Trump.

Lieu, a rabid Democrat, posted a tweet on Monday accusing Trump of being broke because he can’t afford to pay a $464 million bond in his New York case.

“Trump claims he is a billionaire,” Lieu wrote. “But he can’t pay a $464 million judgment. That means he is lying. How do I know? Math. #TrumpIsBroke.”

Look:

Responding to Lieu’s tweet a day later, Cuban said that, while he’s certainly no Trump supporter (he’s about as anti-Trump as they get), the congressman’s criticism was false.

“Ted, you know I’m no supporter of Trump. That’s for damn sure,” he wrote. “How anyone can vote for someone who has so many of his executive employees turn on him, and, say he is incompetent is beyond me. But you are wrong on this topic Ted.”

Cuban proceeded to give Lieu a lesson in NET WORTH, though the lesson was tinged with plenty of Cuban’s own anti-Trump animus.

“Net worth is completely different than cash in the bank,” he explained. “We were in a zero interest rate environment for a long, long time. So keeping cash in the bank or even money markets was dumb. In fact, searching for yield is what killed small banks last year.”

“Also dumb was keeping interest rates that low for that long. Something Trump demanded more of. So you can argue that Trump put himself in this situation by making sure that the only way to grow his net worth was non cash investments,” he added.

“You can also argue Trump sucked at growing his net worth which led to him putting himself in this position by lying to banks about his assets. There is only one reason to lie on a loan application – you have to,” he continued.

Look:

Cuban concluded his lesson by stressing that “few people” keep the majority of their wealth in liquid assets and further noting that Trump’s chances of even securing a loan for his bond are low.

“On a more macro basis Ted. Even if rates were along a long term trend line for the past ten years, few people are keeping more than 45 percent of their assets in liquid assets,” he wrote.

“And as far as the bond companies Trump’s assets are mostly interests in commercial real estate and foreign assets. No bond company is loaning against them in this commercial real estate market, if ever,” he added.

Responding to Musk’s tweet later Tuesday afternoon, Lieu claimed he agreed with the billionaire but then turned around and spouted more nonsense.

“Thank you @mcuban, I agree with you,” he wrote. “If Trump has the assets he claimed (including any revenues flowing from those assets), the underwriters would have backed the bond. But no one did, Trump doesn’t have enough liquidity or assets to be a worthwhile risk for the underwriters.”

Look:

This time members of the public rushed to check Lieu on Cuban’s behalf.

Look:

Vivek Saxena
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