New York May Lose Standing With Businesses Amid Trump Case

The civil lawsuit against former President Donald Trump, his two sons and the Trump Organization could end up costing New York tons of business in the future – even if they win the case and millions of dollars in damages as a result.

Many critics quickly came forward following the decision by First District Judge Arthur Engoron of the New York Supreme Court that ruled that Trump deceived insurers and banks.

One of those quick critics was John Yoo, who served as a deputy assistant attorney general under former President George W. Bush. Appearing on Fox News on Monday, Yoo said that the case could not only put Trump “out of business” in New York, but it endanger the state’s status as a capital for business in the world.

The court date for Trump was set for Monday, but before then, Engoron, who is a Democrat, ruled that Trump exaggerated his net worth and overvalued his assets.

The civil lawsuit has been brought by Letitia James, the Democratic attorney general of New York who certainly has it in for Trump.

In speaking with Fox News, Yoo said that people like James and Engoron serve in elected partisan offices. And while they’re supposed to be elected to serve more in a legal rather than political role, most of the departments in which they work are occupied mostly by partisan Democrats.

As Yoo said on the “America Reports” program:

“What people should ask is, ‘Are what they’re doing in the best interests of the people of the state? Is it a good idea for the state of New York, on behalf of its people, to use its vast law enforcement powers to go after and single out President Trump for things where nobody is claiming they were harmed?’

“No one claims they were actually defrauded.”

During her own campaign for attorney general, James pledged that she would be a “real pain in the ass” to Trump, who was at the time serving as president. She even went as far as saying that Trump was an “illegitimate” officeholder.

In criticizing Engoron, Trump referenced the routine jabs that James levies on him.

Yoo additionally warned that James could unintentionally be sending a very strong warning to financial institutions and businesses on behalf of New York in a similar way.

As he said:

“New York City is the greatest financial center in the country, if not the world. Are they now going to start using their vast powers to say, ‘We’re happy to have you come to New York as long as you’re a Democrat to do business? But, if you’re a conservative, we’re going to use the powers of law enforcement against you?’

“That may undermine the position of New York – the city and the state – as a nation’s great financial capital place to do business.”
A possible outcome of the civil trial is that Trump might not be able to have holdings in New York, which would be ironic since his name is associated most commonly with the state and the city.