New York Governor Kathy Hochul’s Attempt to Quell Business Owners’ Concerns Falls Flat After AG’s Trump Ruling

In a bid to calm nerves rattled by the state Attorney General’s hefty $355 million judgment against President Trump’s business dealings in New York, Governor Kathy Hochul took to the airwaves. Speaking on “The Cats Roundtable” with John Catsimatidis on WABC 770 AM, Hochul aimed to reassure anxious businesspeople across the state.

When pressed about whether other New York entrepreneurs should fear similar treatment, Hochul insisted, “Law-abiding and rule-following New Yorkers who are businesspeople have nothing to worry about because they’re very different than Donald Trump and his behavior.”

But such assurances ring hollow to many. Trump’s penalty stemmed from routine financial transactions ”“ repaid loans with interest, and assurances from banks of future lending. No victims, no crime. Yet, the massive fine sets a chilling precedent for any business operating in the state.

With New York City already burdened by sky-high taxes and surging crime rates, the specter of arbitrary fines looms large over entrepreneurs. Hochul’s attempt to downplay the situation does little to allay the growing concerns of businesses grappling with the city’s deteriorating economic landscape.

Jonathan Turley’s Scathing Rebuke of the Outrageous Verdict Against President Trump can be seen at The Hill.

“”If New York wants to turn Wall Street into a remake of “The Hunger Games,” it has only itself to blame as other businesses flee the state.

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The impact on New York business is likely to be dire. New York is already viewed as a hostile business environment, with the top end of its tax base literally heading south as taxes and crime rises. This draconian award is only going to deepen concerns over the arbitrary application of the law by figures like James, who previously sought to disband the National Rifle Association. (She has shown less interest in cracking down on liberal organizations like Black Lives Matter or the National Action Network of Al Sharpton despite their own major financial scandals.)

As James gleefully uses this law to break up a major New York corporation, it is hard to imagine many businesses rushing to the Big Apple. This follows Democratic politicians such as Rep. Alexandria Ocasio-Cortez (N.Y.) campaigning against Amazon seeking to open new facilities in the city. After this week, drawing new businesses to the city is going to be about as easy as selling country estates during the French Revolution.

The one hope for New York businesses may be the U.S. Supreme Court. Despite the deference afforded to the states and their courts, the court has occasionally intervened to block excessive damage awards.