Trump's Stock Plummets (Literally) ft. Liz Dye

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The SEC fined a SPAC $18M for fraud involving billions. How is that a sufficient punishment? That's like me getting fined $100 for stealing $10,000.

Jimmy Carter had to sell his Peanut farm when he became president. A friggin Peanut Farm. And Trump gets to hold meme stocks and hotels. What a joke.

Imagine giving up bill money, rent money, mortgage money, emergency funds, etc. for a person that wouldn't throw you a coat nor a sweater if it were freezing.

Truth Social isn't a Twitter clone, it's a Mastodon clone. They literally took Mastodon, turned off federation, and stopped complying with the AGPL that requires them to publish all their source code. And funnily enough there's a legal argument that the SPLC has been pushing rather successfully. Apparently anyone can sue someone for not complying with the GPL, even though it's a copyright license, because third-party beneficiaries of contractual terms can sue over that contract not being carried out. I'm not saying we should sue Trump to force him to publish their hacked-up Mastodon instance, but...

Teaming up with “a guy from Miami named Patrick Orlando” is a thing that would be considered ridiculously obvious in the plot of a TV show.

It's insane that this whole thing was able to happen to begin with. SEC is a joke.

The problem with the bond is that before it was lowered, Trump HAD a bond company lined up that was willing to pay, and his lawyers deliberately failed to report this, which is why the bond got reduced as they claimed that getting that much money together was a 'financial impossibility'. However, now that it's come out that Trump (via the bond company) actually DID have the money, the bond ought to be bounced right back up to $460 million, and his lawyers slapped down HARD for this fraud.

I wish you'd covered the fact that they stole their software from mastodon and rebranded it. It's frustrating when the property rights are ignored by the wider community simply because it's nerds that owns those rights instead of other billionaires.

Nobody who has almost 500 million dollars in cash uses social media to announce, "I HAVE ALMOST 500 MILLION DOLLARS IN CASH!"

Gotta love how no matter what it is, it's always a grift.

This is the first i'm hearing of Liz Dye. She explains complicated things so well. I will look into more of her online. Thanks for sharing.

Can we all just take a second to appreciate LegalEagle getting Liz Dye (a clearly competent, intelligent and articulate soul) to use the term "Magical Underpants" in an explanation vid involving trump.

Amazing comment elsewhere I found about this: "I for one AM SHOCKED. How could a company that has lost over 100M in 2 years, possibly fail??? It made 4M last year. That obviously means that it should be valued at 8 BILLION dollars."

This is like the tenth thing that has me thinking "Surely now his followers will see that he's a psychopath who only cares about himself" but it just never happens

Seems more like a house-of-cards than a business model. Still, it definitely serves as a stark reminder of the power of meme stocks and the influence of high-profile personas on the market value.

The more I hear about Trump, the more I want him off social media and in jail. This level of delusion is only seen in cult leaders, sociopathic narcissists and the clinically insane. And the fact that people STILL KEEP BAILING HIM OUT OR LETTING HIM OFF THE HOOK is even MORE appalling!

"Chaos lawyer" new favorite dnd class

I find it interesting how his children demanded a share. Not from his 90% slice of the pie, but from the small leftover bit that the people actually doing the work have to share.

SPAC sounds like a slur. Like someone sees Donald Trump and says "Ugh shouldn't someone have locked that SPAC up by now?"