Despite pledging his loyalty to President Joe Biden, billionaire Mark Cuban defends Trump as a Democrat lawmaker who was obviously clueless in terms of business deals and accuses the former president of lying about his net worth.
On Monday, Rep. Ted Lieu (D-California) wrote on X, “Trump claims he is a billionaire. But he can’t pay a $464 million judgment. That means he is lying. How do I know? Math.”
“TrumpIsBroke.”
The former Shark Tank star swiped Lieu and said he was “wrong.”
“Ted, you know I’m no supporter of Trump. That’s for damn sure. How can anyone 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,” said Dallas Maverick owner.
Cuban continued his lecture on economics and said, “Net worth is completely different than cash in the bank. 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.”
The billionaire further said, “So you can argue that Trump put himself in this situation by making sure that the only way to grow his net worth was [through] non-cash investments,” Cuban wrote.
“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.”
“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 continued.
“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.”
Despite this, the billionaire maintained that he would still be voting for Biden in November.
“If they were having his last wake, and it was him versus Trump, and he was being given last rites, I would still vote for Joe Biden,” Cuban told Bloomberg News.
As for Rep. Lieu, it seems he wasn’t prepared for his tirades to blow up in his face. It turns out the California lawmaker was speaking off the cuff.
CUBAN IS STILL AN ASSHOLE LIBTURD/LIBTARD!!!