Quickwint Sidelong Blur

I have no idea what the word "quickwint" means and can't find it in the dictionary, but the 48th day of Childwinter is called not Fourth Twelve but Quickwint Sidelong Blur in the Universal Solar Calendar.

I may not know the meaning of "quickwint," but I know "schadenfreude" and felt a strong case of it when reading Judge Engoron's decision in New York v. Donald Trump, better known as the Letitia James financial fraud case.

In order to borrow more (money) and at lower rates, defendants submitted blatantly false financial data to the accountants, resulting in fraudulent financial statements. When confronted at trial with the statements, defendants’ fact and expert witnesses simply denied reality, and defendants failed to accept responsibility or to impose internal controls to prevent future recurrences. As detailed herein, this Court now finds defendants liable, continues the appointment of an Independent Monitor, orders the installation of an Independent Director of Compliance, and limits defendants’ right to conduct business in New York for a few years.

The "few years" Engoron mentions are three: Trump is banned from serving in a top role at his company or any other company in the state of New York for three years. But the best part is Trump must pay $355 million penalty for his massive fraud. According to The New York Times, $168 million of the total amount represents the interest that Trump saved by getting those lower rates; and the rest represents his profit on the sale of two properties. Trump's sons, Eric and Don Jr., have to pay $4 million each and are banned from doing business in New York for two years.

Trump's former accountant, Allen Weisselberg, has to pay $1 million, and he and former controller Jeffrey McConney are permanently banned from ever serving in any financial control role of any New York company. Enjoy New Jersey, gentlemen.

Former judge Barbara Jones will remain for another three years as the Independent Monitor to oversee how the Trump Organization operates, but with even more authority to watch for fraud and call out suspicious transactions. She will also name an Independent Director of Compliance, a position that the Trump Organization never had, to monitor the company's financial reports.

Overall, Donald Trump rarely responded to the questions asked, and he frequently interjected long, irrelevant speeches on issues far beyond the scope of the trial. His refusal to answer the questions directly, or in some cases, at all, severely compromised his credibility. . .  

[The defendants'] complete lack of contrition and remorse borders on pathological. They are accused only of inflating asset values to make more money. The documents prove this over and over again. This is a venial sin, not a mortal sin. Defendants did not commit murder or arson. They did not rob a bank at gunpoint. Donald Trump is not Bernard Madoff. Yet, defendants are incapable of admitting the error of their ways. Instead, they adopt a “See no evil, hear no evil, speak no evil” posture that the evidence belies.

This Court is not constituted to judge morality; it is constituted to find facts and apply the law. In this particular case, in applying the law to the facts, the Court intends to protect the integrity of the financial marketplace and, thus, the public as a whole. Defendants’ refusal to admit error  — indeed, to continue it, according to the Independent Monitor  — constrains this Court to conclude that they will engage in it going forward unless judicially restrained.

Indeed, Donald Trump testified that, even today, he does not believe the Trump Organization needed to make any changes based on the facts that came out during this trial.

Trump will, of course, appeal and request the order to be put on hold while his appeal winds through the courts. But despite the appeal, within 30 days he'll still have to produce the money or secure a bond -- using real estate as collateral -- to be set aside while the appeals play out. And it's not just $355 million, by the way. There is interest that has accrued, bringing the total to $450 million, plus in NY, the money that has to be posted is 120 percent of the award. And the deadline for him to produce the $83.3 million he owes E. Jean Carroll is also coming up.

Time to sell some real estate, Mr. Trump.  

Schadenfreude, the sensation of pleasure, joy, or satisfaction that comes from learning of or witnessing the troubles, failures, pain, or humiliation of others. It's a dish best served cold.