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    Jeb Bush Warns of Legal Threats to Business: Trump and Musk Cases Raise Concerns for Rule of Law in America

    JimBy Updated: Whatfinger News 9 Mins Read

    Deep State Jeb siding with Trump? Hmmm… the writing is on the wall so even the bush Dynasty is making peace with Trump

    ‘This op-ed by Jeb Bush and Joe Lonsdale about how Democrat lawfare against Donald Trump and Elon Musk might destroy the country is written in way too nice a manner, but still worth reading’ Mollie of The Federalist linking to the WSJ article 

    In a recent op-ed for The Wall Street Journal, former Florida Governor Jeb Bush, who ran for president in 2016 against Donald Trump, joined forces with Joe Lonsdale to express concern over a New York judge’s decision to issue a $355 million judgment against the former president. The duo argued that this ruling, along with another against Tesla owner Elon Musk, poses a threat to the rule of law and could create an anti-business environment in the United States.

    It’s about time Jeb and the other old guard Republicans come around, take the lead of their constituencies, and support President Trump, the party frontrunner. There’s zero reason for GOP infighting, other than bruised, old-guard egos. – Kai

    Bush emphasized the importance of equality before the law and stated that these rulings could lead to a crisis not just for the integrity of the courts but also for the business environment that has contributed to the prosperity of the U.S. According to Bush, if these rulings are allowed to stand, it could have far-reaching consequences, instilling fear of arbitrary enforcement against entrepreneurs who engage in public service or voice their opinions as citizens, especially when those opinions are disliked by politicians.

    The former governor specifically highlighted the case against Donald Trump, where New York Attorney General Letitia James utilized an “unusual New York law” that, according to Bush, didn’t require proof of intent to defraud or any actual financial loss. He pointed out that, in the absence of victims, the state would be the one collecting damages. Deutsche Bank, which had provided loans to Trump’s real estate company, testified that it was satisfied with its investments and had been repaid with interest. The bank also expressed uncertainty about the impact of state prosecutors’ claims regarding the inflation of Trump’s properties’ value and net worth.

    Bush cited a report from The Associated Press, indicating that, since the adoption of the law in 1956, the case against Trump was unique among the 12 cases with significant penalties, as it lacked an alleged victim or financial loss.

    Turning to the Elon Musk case, Bush discussed the decision by Delaware Chancellor Kathaleen McCormick of the Court of Chancery to unwind Musk’s incentive-based compensation at Tesla. This decision came after a shareholder, who owned only five shares, claimed that Musk’s compensation plan had harmed him. Bush expressed concern over the potential damage to the reputations of New York and Delaware judiciaries, given their significant roles in U.S. business operations.

    Moreover, Bush warned of potential losses for the states if their appellate courts do not overturn these rulings, noting that some business owners have already expressed intentions to relocate their companies or investments in response to the Engoron ruling.

    President Trump’s legal team has appealed the Engoron ruling, seeking its overturning. This move could temporarily halt the order while the appeals process unfolds. The judge’s decision not only imposed monetary penalties but also prohibited Trump from running a corporation in New York and seeking loans from banks registered in the state for three years. Additionally, it enhanced the powers of a court-appointed financial watchdog at The Trump Organization and imposed fines on Trump’s sons, Don Jr. and Eric Trump.

    As for Elon Musk, the owner of Tesla and SpaceX, he plans to request a pause on the Delaware judge’s ruling that rescinded his $56 billion pay package. Musk, who recently moved SpaceX from Delaware to Texas, criticized the state and advised companies still incorporated in Delaware to relocate promptly. The fallout from these legal battles raises concerns about the potential impact on the legal fabric of the country and the principles of a dispassionate justice system, which, according to Bush, is integral to American exceptionalism.

    ‘Jeb Bush is warning that the government’s weaponization against Donald Trump and Elon Musk poses a grave threat to business and the rule of law in the United States of America. That’s how far these politicized prosecutors and activist judges have veered into hazardous territory. “Every American has a right to be critical of Mr. Trump’s politics—one of us ran against him in 2016—or Mr. Musk’s public persona. But equality before the law is precious, and these rulings represent a crisis not only for the soundness of our courts, but for the business environment that has allowed the U.S. to prosper.” “If these rulings stand, the damage could cascade through the economy, creating fear of arbitrary enforcement against entrepreneurs who seek public office or raise their voices as citizens in a way that politicians dislike.” “In Delaware, Chancellor Kathaleen McCormick of the Court of Chancery ordered the unwinding of five years of Mr. Musk’s incentive-based compensation at Tesla, which had been approved by 80% of the company’s shareholders.”

    “The plaintiff, Richard Tornetta, held nine shares in 2018—worth about $200 then and $2,000 today, after the execution of the compensation plan that supposedly injured him.” “Mr. Musk’s compensation plan awarded him stock bonuses tied to earnings and stock-value benchmarks, which many critics thought he could never meet. When he did, he received $56 billion, enriching shareholders like Mr. Tornetta along the way.” “Judge McCormick has yet to say how she wants the pay package unwound, but Mr. Tornetta’s lawyers could petition her for a percentage of the $56 billion as a fee for having succeeded in their challenge.” “Mr. Musk’s performance at Tesla enriched all shareholders, but Judge McCormick’s ruling may primarily enrich Delaware trial lawyers.” “The unusual New York law Ms. James used to investigate and sue Mr. Trump didn’t require her to prove that he had intended to defraud anyone, or even that anyone lost money.”

    “The Associated Press found that of the 12 cases brought under that law since its adoption in 1956 in which significant penalties were imposed, the case against Mr. Trump was the only instance without an alleged victim or financial loss.” “Bankers from Deutsche Bank, which lent money to Mr. Trump, testified that they were satisfied with having done so, given they were paid back on time and with interest.” “They also testified that they were uncertain whether the alleged exaggerations would have affected the terms of the loans to Mr. Trump—a key part of Ms. James’s case. Since there were no victims, the state will collect the damages.” “New York and Delaware have played an outsize role in business in the U.S. Many major companies are incorporated in Delaware owing to the state’s body of corporate legal precedents; and a significant number of banks operate in New York, the world financial capital.” “The appellate courts in those states now have a chance to review these dangerous judicial rulings and try to stop further damage to the reputations of their respective judiciaries.’ – Kanekoa

    Major Points Discussed:

    • Former Florida Governor Jeb BushJ, who ran against Donald Trump in 2016, defended Trump and Elon Musk in a Wall Street Journal op-ed.
    • Bush and Joe Lonsdale argued that recent legal judgments against Trump and Musk pose a threat to the rule of law and could create an anti-business environment in the U.S.
    • They expressed concern over the use of an “unusual New York law” in Trump’s case, which didn’t require proof of intent to defraud or financial loss, potentially setting a dangerous precedent.
    • The op-ed highlighted Deutsche Bank’s testimony that it was satisfied with its investments in Trump’s real estate company, questioning the validity of the claims against Trump.
    • Bush warned of potential economic and reputational damage to New York and Delaware if appellate courts do not overturn the rulings, with some businesses already considering relocation.

    Al Santana

    Comments – Threads – Links

    • You all know that the government of the trump is about to come, more services will come. – Tariq Khan 2.0
    • Trump’s Commercial RE is not even in the Top 12 in NYC I looked it up since taking Office Lettica James has not INVESTIGATED any other NYC RE Developers This is a political witch hunt – Terry Foster
    • He’s not coming to his defense. – Parallelogram _0010
    • Jeb is still wandering the deserts looking for his dad’s WMD’s. – GusFlaMan
    • You mean Jeb Bush comes to Jeb Bush’s defense… – Smoky Mountains Sam
    • Are we in an age now where a judge can simply declare fraud where there’s no visible fraud?? I’d say yes! – Fp Pro 

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