Former President Donald Trump recently claimed that he decided not to list the Trump Media & Technology Group on the New York Stock Exchange because businesspeople in New York are treated badly. However, the company is actually being listed on the Nasdaq, which is also located in New York City. This statement was met with confusion and disbelief by legal experts, who pointed out that the same laws and political oversight that apply to the NYSE would also apply to the Nasdaq.
Jonathan Macey, a Yale Law School professor, criticized Trump’s story as nonsensical and compared it to avoiding persecution in New York by shopping at a different store in the same location. Macey emphasized that investor protection rules apply to both the NYSE and Nasdaq, ensuring that investors are safeguarded regardless of the exchange. Despite this, Trump continued to denounce New York officials and claimed that the stock exchange was upset about his decision not to list on the NYSE.
Trump’s claims about the supposed backlash from the NYSE were further debunked when it was revealed that the top official mentioned by Trump was actually a woman, contrary to his statements. A spokesperson for the NYSE expressed a desire to welcome Trump’s company and emphasized the importance of New York remaining open for business in terms of capital formation. The Trump Media & Technology Group, which owns Truth Social, is set to begin trading on the Nasdaq.
In addition to his inaccurate claims about the stock exchange, Trump also made baseless accusations about President Biden’s involvement in his legal cases. He alleged that the legal proceedings against him were “Biden-run” and suggested that certain officials were placed by Biden to target him. However, there is no evidence to support these claims, as the cases are being led by elected officials in New York and local district attorneys, not the federal government.
Furthermore, Trump’s federal indictments were brought by a special counsel appointed by Attorney General Merrick Garland, a Biden appointee. However, Garland has maintained his independence from Biden and stated that he would resign if asked to take action against Trump. Grand juries composed of ordinary citizens approved the indictments in each of Trump’s criminal cases, further debunking his claims about political interference.
Regarding the move of former senior Justice Department official Matthew Colangelo to the Manhattan district attorney’s office, Trump provided no evidence to support his assertion that Biden orchestrated the transition. Colangelo and Manhattan District Attorney Alvin Bragg had a prior working relationship in the New York attorney general’s office, where they were involved in investigations related to Trump. Colangelo’s career trajectory, from the Justice Department to the district attorney’s office, was based on his legal expertise and professional background, rather than political interference.
