Fact check: Trump tells ‘mind-bogglingly nonsensical’ story about the New York Stock Exchange
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Fact Check: Trump’s Remarkably Inaccurate Tale About the New York Stock Exchange Debunked

In a recent statement, former President Donald Trump shared that he opted against listing the Trump Media & Technology Group on the New York Stock Exchange. He attributed his decision to a belief that business figures receive poor treatment in New York and expressed a desire to avoid conflict with what he described as an aggressive New York Attorney General. However, this narrative raises eyebrows for its lack of coherence.

A critical examination reveals a contradiction in Trump’s reasoning. The Trump Media & Technology Group is set to be listed on the Nasdaq, which, like the New York Stock Exchange, is situated in Manhattan, New York. This means that the company will still be subject to the same state laws and regulatory oversight it would have faced on the New York Stock Exchange.

Jonathan Macey, a professor at Yale Law School specializing in corporate law, finance, and securities law, found Trump’s story perplexingly illogical. He humorously compared it to someone avoiding Macy’s in New York due to persecution fears, only to shop at Bloomingdale’s next door, also in New York.

Macey hopes that Trump’s advisors will clarify that the investor protection rules governing the New York Stock Exchange equally apply to the Nasdaq Stock Market, ensuring investor safety across both platforms.

During a press conference, Trump criticized New York Attorney General Letitia James and Manhattan District Attorney Alvin Bragg for pursuing legal actions against him. He also claimed that his decision not to list on the New York Stock Exchange has caused dismay among its officials, with the “top person” allegedly expressing shock and concern over losing business due to New York’s unattractiveness to companies.

However, it’s important to note that the “top person” at the New York Stock Exchange is not a man, as Trump suggested, but a woman. Lynn Martin has been the president of the NYSE since 2022, succeeding Stacey Cunningham, with Sharon Bowen serving as the chair of the NYSE board.

Despite Trump’s portrayal, a spokesperson for the NYSE stated that the exchange would welcome Trump’s company, emphasizing the benefits of having more companies listed on public exchanges for America’s capital markets and investors.

The Trump Media & Technology Group, which owns the social media platform Truth Social, is scheduled to start trading on the Nasdaq soon.

In addition to his comments on the stock exchange, Trump reiterated unfounded allegations concerning his legal challenges, attributing them to President Joe Biden and claiming a Biden-led orchestration of his trials. He specifically mentioned Matthew Colangelo, a former senior Justice Department official now working for Manhattan District Attorney Alvin Bragg, as being placed by Biden.

However, there is no evidence to support Trump’s claims regarding Biden’s involvement in any of the criminal or civil cases against him. The prosecutions in Manhattan and the civil fraud case are led by elected officials who operate independently of the president and the federal Justice Department. Additionally, there’s no proof that Biden played any role in Colangelo’s decision to join the district attorney’s office.

It’s also worth noting that the indictments in Trump’s criminal cases were approved by grand juries, further distancing them from any direct presidential influence.