Trump’s hubris has brought about the downfall of his family’s business empire

Judge Arthur Engoron’s ruling on Friday concludes the nearly century-long history of the Trump Organization in New York in disgrace and ruin. For his financial fraud, Donald Trump must pay $355m in fines. He is suspended for three years from doing business in New York. His sons – Donald, Jr, and Eric, executives of the company – are barred for two years. “New York means business in combating business fraud,” the judge stated in his decision. The Trump brand is now adjudicated to be synonymous with fraud and failure.

“In order to borrow more and at lower rates, defendants submitted blatantly false financial data to the accountants, resulting in fraudulent financial statements,” the judge wrote in his decision. “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 … Their complete lack of contrition and remorse borders on pathological.”

The hundreds of millions that Fred Trump bestowed on his son could not prevent him from steering the family legacy on to the rocks.

The Trumps were Democrats. They had always been Democrats. Fred Trump had made his fortune through the Democrats. There was no Trump Organization apart from the Democratic organization of Brooklyn. Who Fred knew was what he was worth.

In 1977, Fred Trump and Donald Trump reached a pinnacle of acceptance. They were listed as sponsors on the invitation for “New York’s Salute to the President”, a fundraiser for the Democratic National Committee held in the ballroom of the Waldorf Astoria. The political, corporate and social cream of the city were present to toast Jimmy Carter. The Trumps’ high-dollar donation