Laura Coates Stops Kevin O’Leary’s Rant on Trump Fraud Case: ‘This Is ‘The Laura Coates Live’ Show and I Am Speaking’

COATES: “You take, you know, an issue with this, of course, more broadly in terms of what it means to be in an American business structure, Kevin. But in terms of the valuation, can you be clear as to why? I mean, why would the properties not be sufficient collateral?”
O’LEARY: “What a great message to send out all around the world. Take a claim where there was no moneys lost. There was no — there was no fraud here in the context of actually people losing money. Deutsche Bank, who made the loan, was made whole. And let’s make a penalty of half a billion dollars against a crime, apparently, where no moneys were lost. Great message for New York. Great message for America. Bring your capital because we’ll protect your property. I think that was a statement that would be much better made sometime in Venezuela. I’m not kidding. That’s a scary, scary message. And by the way, there are no such thing as half a billion dollars.”
RAMPELL: “Again, the laws exist to protect the marketplace.”
O’LEARY: “There are no half a billion-dollar bonds. Never been done before. Never. This law has never been applied. Forget about Trump. Nothing to do with Trump. Everything to do about America and the New York brand. I love this state. My children live here. A horrible message to everybody around the world watching this. Absolutely horrific.”
COATES: “Well, wait, Kevin. Kevin, hold on a second. Kevin, what will be — “
O’LEARY: “This case goes well past Trump. Trump will be gone one day.”
COATES: “Hold on a second.”
O’LEARY: “This attorney general will be gone one day. And this is what you’re gonna tell people around the world? “
COATES: “I have a wonderful voice and it won’t be talked over — “
O’LEARY: “This is how we treat money in America?”
COATES: “Kevin O’Leary, I would like to hear what you have to say — “
O’LEARY: “This is not America.”
COATES: “What are you doing?”
O’LEARY: “Not America. Not America.”
COATES: “It’s not America, but it is the ‘Laura Coates Live Show,’ and I am speaking. So that will be the rule. Not Venezuela, nowhere else — “
O’LEARY: “Not America.”
COATES: “Nowhere else. Fine, but it’s ‘Laura Coates Live.’ And hello, my name is Laura Coates. The question I want to ask you on this point, though, is what does the reverse say, Kevin, if they do not take an action? I hear your point about you believe there’s no fraud and that everyone was made whole, but a judge found otherwise. And so, given that, Catherine, to Kevin’s point, can you address what your opinion is on the issue? Because your big major concern seems to be what happens if this is not followed through by James or the courts. What message would that sound? You seem to think that that’s anti-American.”
RAMPELL: “Yeah. Look, I’m surprised that Kevin is wasting his good name defending fraud and lies, which I am convinced, Kevin, you have not committed. I don’t understand. Why are you defending the actions of someone who has committed these actions that, again, there is ample, ample evidence that he has done this? And the idea that just because, you know, the banks themselves may have been in on the fraud doesn’t necessarily make it any better. I mean, every single borrower who played by the rules, who honestly reported their income, their assets, their liabilities, they were put at a disadvantage by the fact that Trump lied and didn’t play by the rules. Think about every other more productive borrower, what they could have done with these hundreds of millions of dollars, what you could have done with these hundreds of millions of dollars. And again, I believe you play by the rules. Trump does not. We have lots of evidence that he does not. This is bad for the marketplace. It is bad for other borrowers. It’s, frankly, bad for the shareholders of these banks, who didn’t benefit from this. Maybe the bankers who helped him out with this fraud got a little fatter bonus, but their shareholders were not benefiting from this. The idea that it is good for the business environment, good for America to not enforce laws against fraud is just bizarre. That is how it works in Venezuela and in Nigeria and in lots of other places where they do not have rule of law and where there is not counterparty trust in business transactions.”
COATES: “Well, Kevin O’Leary, don’t make me regret this, but I’ll give you the last word here.”
O’LEARY: “No, no, I’m like everybody else all around the world, sovereign wealth, pension plans. Everybody in the financial services industry is waiting for adult supervision. We don’t have it here yet. This is hurting New York, hurting the people of New York, and hurting the American brand. It is just horrific. Where are the adults? When are they coming?”
COATES: “Well, I guess I’ll just say I’m the adult in the room, and I’ll just say good night to both of you today for that very reason. I know you both have strong positions and strong viewpoints. Thank you for sharing them.”