Trump could end up broke with only his pensions if Letitia James shuts his business down: David Cay Johnston
Appearing on MSNBC on Saturday afternoon, investigative journalist David Cay Johnston painted a grim future for former president Donald Trump should he face a civil suit brought against him by New York Attorney General Letitia James for financial fraud and then she closes his business down.
Sitting down with host Alex Witt, the journalist who specializes in financial reporting, said the New York City real estate developer could see a lifetime of work acquiring properties stripped away from him, leaving him only his presidential and his TV union pension to live on should he be forced into bankruptcy.
"David, you have been studying the Trumps for so long now," host Witt began. "Are you implying that because of this, Donald Trump could be at risk of personal bankruptcy?"
"Oh, it is possible that Donald, at the end of the day, will be left with nothing but his presidential pension and his union pension from his TV show, because those are the only assets he has that would be protected," he replied. "And given that Donald brags about how much 'he loves money, he cares about money more than anything else,' that's his words, not mine, this is a very troubling for him."
"But yes, he could lose not just the Trump Organization but his apartment, his mansion in Westchester County, his golf courses, Mar-a-Lago, all of that can be at risk in these both criminal and civil proceedings that are coming against him in a number of jurisdictions," he continued. "Especially if the New York attorney general arranges to have his business put out of business."
"You and I have a right to live, but corporations are privileged creatures created by the state, and the government can shut them down for wrongdoing," he added.
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