Rhinebeck

To the editor:

Many that are lined up against former President Trump have been poised to be dancing on his grave for quite awhile. The recent ruling of a $355 million penalty in the New York civil fraud trial caused rejoicing in many quarters. But, is this a cause for celebration?

Investor and Shark Tank host Kevin O’Leary has come out to say the ruling by Judge Engoron was excessive, banks that were involved were not harmed, and this will have a chilling effect on those who might want to do business in New York. Others have said the ruling upholds ethics and does not allow large companies to take away available funds from smaller entities. We will likely see further insights when the case goes to appeal.

Attorney General James has achieved a favorable ruling in the case but will this turn out to be a Pyrrhic victory?

The target/enemy was defeated but will it come at a significant cost to the state in the form of investors taking their money elsewhere? It was interesting that Governor Hochul quickly jumped up to do damage control to assuage investors about doing business in New York but are those investors truly thinking, “Who’s next?” as O’Leary stated? Time will tell. Until then, will James’ “notch on her belt” become “Be careful what you wish for?”