It Ain't No Fun When The Rabbit's Got The Gun

Sponsored by: Patriot Home Funding

When powerful people cheat to get better loans, it comes at the expense of hardworking people. Everyday Americans cannot lie to a bank to get a better mortgage, and if they did, our government would throw the book at them. There simply can't be different rules for different people."

That was an X post on October 2, 2023, by NY AG Leticia "Peekaboo" James when her office indicted President Trump for supposedly inflating the value of his properties in a financial disclosure to a lender, Deutsche Bank, who testified that they did their own due diligence on the financial disclosures, verified them, deemed them worthy, closed the loan, serviced the loan with no late payments until the loan was paid off; and they testified that they would gladly do business with Trump again- that is until Judge Arthur Engeron, who was drunk on power and celebrity, and doing what the power players left of the wanted, threw the testimony out. Engeron stated in his final judgement that the lender's statements "lacked credibility."

In other words, a victimless "crime" with no injury and no consideration. James sought, and was granted by Engeron, a $354 million judgment with accruing interest that eventually grew to over $430 million before being overturned in August by the NY State Appeals Court on the basis of a violation of the 8th amendment about cruel and unusual punishment.

Yesterday, Leticia James was indicted in federal court in the Eastern District of Virgina for mortgage fraud. In August of 2020, James purchased a home in Norfolk, VA. She applied for and closed a regular FNMA fixed rate loan for 80% of the sales price, which was $109,600. The contract had a seller contribution of 2.4% towards her closing costs and prepaid expenses. She closed the loan and executed a standard second home rider, which means that the property was to be used exclusively as a secondary residence, NOT rented, and occupied at least 14 days per year per FNMA and IRS guidelines.

According to the indictment, James used the property as an income producing rental property immediately, renting it to a family of three, then claimed the rental income and expenses including depreciation on schedule E of her subsequent tax returns annually, and claimed to the IRS that she never used the property for personal use at all and the property was used solely and exclusively as an income producing property.

James' occupancy fraud saved her about 7/8% in the interest rate, which is $17,837 over the life of the loan, and an excess illegal seller contribution of $1096, for a total fraudulent windfall of $18,933. Her homeowner's insurance policy in the loan file was for a second home as well, not an investment property, so there is a fraudulent declaration to her insurer as well.

"Everyday Americans cannot lie to a bank to get a better mortgage, and if they did, our government would throw the book at them." Peekaboo never imagined that the book would have a boomerang attached to it, and that SHE would be prosecuted for the same lie that she prosecuted others for. And when you listen to the media coverage and sound bites from the left claiming this indictment is "retribution" and "weaponization," notice that they never address the documented facts of the case. That's how you know.....

Speaking of weaponization, Governor Kathy Hochul and Leticia James have used the power of government and the courts in New York as a weapon, with no regard for actual justice, only for more power, wealth, and control. And woe be unto you if you get in their way. Such is the case with Patty DeMint and Michelle Robley, who are affectionately known in their hometown of Medford, NY as the "Dairy Queen sisters."

In 2017, the sisters pooled their money and opened up a Dairy Queen, which had been their dream since childhood. Further, they used their restaurant to help others, hiring released convicted felons, recovering addicts, displaced homemakers, the homeless, and the local kids on their first ever job. The store manager, who was one of those the sisters gave a leg up to, Gabriel Talavera, said "It kept me out of trouble. It is more like a family than just a regular business."

That all changed when a disgruntled ex-employee who was asked to leave hired an attorney, who then sued and was granted class action based on a 100-year-old law that stated that if an employee performs any manual labor in their job, they must be paid weekly. The sisters, like most businesses, paid their employees bi-weekly. They didn't know the law, and neither did the payroll company they used to do their payroll. The sisters had never missed a payroll, never failed to pay an employee a cent they were owed, yet they now faced a $6 million class action lawsuit that not only threatened their livelihood, but threatened to make them homeless.

Just like with President Trump, no good deed goes unpunished in the socialist state of New York. After a couple of years, the sisters were able to settle for $450,000. The lawyers got over $305,000 of the settlement, the current and former employees got less than $200 apiece.

Labor unions in New York have been unanimous in their opposition to attempts to change the archaic law, as has the New York State Association of Trial Lawyers. They have a cash cow and they aren't giving it up, regardless of who it hurts. The sisters led a political movement that finally got a bill to Hochul's desk that didn't eliminate the archaic practice, but merely limited damages to the interest on the "late payments of the weekly wages," which is an absolute joke.

For far too long in the state of New York, the hammer of government has been used not to protect the innocent, but to protect the powerful at the expense of the innocent. The hammer of government when abused destroys the scales of justice. The examples I've just given are just two of literally thousands of examples. In his inaugural address, George Washington said that "a love of power, and proneness to use it, predominates in the human heart and can lead to real despotism." He was warning us about people like Kathy Hochul, Joe Biden, Merrick Garland, James Comey, Arthur Engeron, The DC Circuit Court, and he was right.

On Valentines Day 2024, Leticia James posted this to Donald Trump, "Roses are Red, Violets are blue. No one is above the law, even when you don't think the rules apply to you." The unmitigated arrogance....

Now Peekaboo is on the other end of the long arm of the law, and the irony is delicious. It takes me back to my childhood, to Elmer Fudd and Bugs Bunny, who said, "It ain't no fun when the rabbit's got the gun."