Ah, the latest episode in the never-ending drama that is American politics has billionaire Mark Cuban stepping into the ring. And boy, does he pack a punch! In a turn of events that reads like a plot twist in a political thriller, Cuban, and avid Trump-hater, has come out swinging in defense of none other than former President Donald Trump.
The saga unfolds with Democratic Representative Ted Lieu throwing shade at Trump, suggesting the man’s pockets aren’t deep enough to cough up a staggering $464 million judgment. Lieu accused Trump of lying about his net worth and claimed that his inability to pay the $464 million judgment proved it. However, Mark Cuban, known for his candid opinions, took a different stance. He argued that net worth is not the same as cash in the bank and that it would be unfair to expect Trump to have 45% of his assets in liquid form.
According to Cuban, in a zero-interest rate environment, keeping large sums of cash in a bank or money market account would be unwise. He also pointed out that Trump’s non-liquid commercial real estate and foreign assets would be difficult to use as collateral for a bond. Cuban emphasized that keeping a significant portion of one’s assets liquid is not a common practice, and it would be unreasonable to expect Trump to do so.
Cuban, in a tweet that’s as fiery as one of Gordon Ramsay’s kitchen outbursts, calls out Lieu for what he sees as a baseless attack. “This is just wrong,” he declares, setting the record straight that Trump, despite the myriad controversies surrounding him, isn’t exactly scrounging for change under the sofa cushions. Cuban’s defense of Trump isn’t just about correcting a financial misperception; it’s a rare moment of bipartisan clarity in an era where crossing the political aisle is often seen as akin to crossing into enemy territory.
“Also dumb was keeping interest rates that low for that long. Something Trump demanded more of, “ the Dallas Mavericks minority owner claimed.
“So you can argue that [Trump] put himself in this situation by making sure that the only way to grow his net worth was non cash investments. 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,” Cuban continued.
“There is only one reason to lie on a loan application – you have to.”
Now, why would Cuban, a self-made billionaire and no stranger to the ups and downs of fortune, jump into this political quagmire? Is it a genuine attempt to set the record straight, or is there a deeper strategy at play here? After all, Cuban is a businessman par excellence, a strategist who knows when and how to play his cards. Seeing Cuban defend Trump is as unexpected as finding a vegan option at a Texas BBQ joint.
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