The United States is a world leader, not only because of its military capability but most of all of its business capital. Many businesses all over the globe tout the robust constitutional framework and impartial justice system of the United States. However, recent verdicts against Donald Trump and Elon Musk raised doubt.
On both decisions, judges ordered Musk and Trump to pay hefty penalties on behalf of their non-existent “victims.”
In an op-ed article written by Jeb Bush, Trump’s 2016 Republican primaries opponent, expressed how it is normal for one to be critical of the former president’s judgments but maintained that “equality before the law” should be followed, and rulings such as these “represent a crisis not only for the soundness of our courts but for the business environment that has allowed the U.S. to prosper.”
Bush also emphasized how this decision can affect the economy and create a climate of fear against entrepreneurs or business owners who desire to run for public office or criticize government officials.
For Musk, Delaware Judge Chancellor Kathaleen McCormick reversed the incentive-based compensation plan for Richard Tornetta, who only held nine shares in the company in 2018, filed charges against Musk, claiming that his compensation plan “injured” him. Even though his $200 worth of shares was raised by the Tesla head to $2,000 today.
Tesla’s performance, which had Musk behind it, benefited all shareholders. However, this recent ruling will enrich only Delaware’s trial lawyers.
In New York, a rabid anti-Trump judge ordered him to pay the city worth $350 million for allegedly frauding bankers. This case was brought by New York Attorney General Letitia James, who promised to “get” Trump in 2018. In fact, the Associated Press found out that Trump’s case was “the only instance without an alleged victim or financial loss.”
James used an unusual New York law to probe and charge Trump, which did not compel her to provide witnesses that the former president defrauded anyone or even any of his associates lost money.
Deutsche Bank representatives, who loaned Trump the money, testified that they were satisfied, emphasizing that they were paid on time and with interest. The bank also remarked that they’d be willing to loan the GOP leader again if needed.
Since there were no victims, Letitia James, er..the state, will collect the alleged fine.
For the former presidential candidate Bush, the recent civil fraud verdict against Trump is one example of “dangerous judicial rulings” used to target liberals’ political opponents.
