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Culture War Roundup for the week of February 14, 2024

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I'm confident they'll find a way to criminalize it

That’s much more likely to go to the Supreme Court than the current ruling. For example, if the court ruled that they wouldn’t allow a Saudi-affiliated fund or individual of some kind to pay because Trump was a political figure that would be naked interference in federal politics that SCOTUS would be much more interested in. They already tried to skirt around this by suggesting he couldn’t borrow the money from banks ‘registered in New York’ which once including affiliates is pretty much any bank, but even then there are a huge number of funds or individuals-related-to-funds that could lend the Trump Organization the money. NY might try to challenge it, but precedent is tough in these cases (see what happened to the building they tried to seize by claiming it was owned by Iran) and if they draw the lines so expansively that everyone involved in finance is included because Wall Street is technically in New York then SCOTUS is again going to look upon that pretty dimly; preemption rights already limit the state’s authority across a huge number of financial services matters. Preemption precedents in finance strongly suggests that this action - under one interpretation barring Trump from raising money from any major financial organization - already violates existing federal legislation and there would also be extensive commerce clause considerations if, say, a Utah bank with an office in NY was blocked from lending the money.