The Daily Show: Ears Edition - Jon Stewart Deconstructs Trump’s "Victimless" $450 Million Fraud | Gary Clark Jr.

Episode Date: March 26, 2024

Jon Stewart examines Donald Trump's deadline to come up with the $454 million bond in his civil fraud case, and deconstructs investment talking heads like Kevin O'Leary calling Trump's actions a "victimless crime." Plus, Gary Clark Jr. sits down with Jon to discuss his new album “JPEG RAW." He opens up about his candid new song “Habits,” collaborating with Stevie Wonder and George Clinton, and how time spent alone gave him the freedom to branch out musically.See omnystudio.com/listener for privacy information.

Survivor 47 is here, which means we're bringing you a brand new season of the only official survivor podcast on fire. And this season we are joined by fan favorite and Survivor 46 runner-up, Charlie, Charlie, I'm excited to do this together. Thanks, Jeff. So excited to be here, and I can't wait to bring you inside the mind of a survivor player for season 47. Listen to On Fire the official Survivor podcast starting September 18th wherever you get your podcast. You're listening to Comedy Central. From the most trusted journalists at Comedy Center. It's America's only source for news. This is the daily show with your host, John Stewart. Ladies and gentlemen, we're back.

Welcome to the Daily Show. My name is John Stewart. We've got an unbelievable program prepared for you tonight. Gary Clark Jr. is going to be here later to do a little bit. We're going to get the smoke machine going. But before we get to that, let's bring a little meaning into all our lives. Let's, before we get to that, let's bring a little meaning into all our lives. Let's get to... I don't know what I'm talking about. Let's get to the big news today. Breathless anticipation at Trump Tower over an important and perhaps earth-taking development in the world of former President Donald J. Trump. Celebrations are underway for former President Trump after claiming he won two golf trophies at his West Palm Beach Club. That's right. Woke, Libbs.

You think Donald Trump is a loser? What would a loser brag about winning a golf tournament at his own course? I don't think so. Although obviously Trump has an advantage playing golf. It's difficult for his opponents to stay focus when they spend all that time you grab them by the asshole. They love it. If you're a celebrity, that's the worst Trump impression in the history of Trump's impression. Actually Trump, one of the few talented golfers who has a thick ass, and a front butt. He has a front butt. So, what it does is the butt and the front butt become like a big, like a ball, like a

big ball, the back and the front. It helps with the center of gravity. It's like being on a hippity hop. But I'm kidding of course. Congratulations Donald Trump on winning the Trump Cup. I'm actually talking about today's big Trump legal development. The clock is ticking for former President Donald Trump. He'll need to post a nearly half a billion dollar bond in order to satisfy his New York civil fraud case judgment.

Otherwise, the state could begin seizing properties to pay for it. That's right, all week we sat with breathless anticipation to see if Trump had $454 million in his wallet. Or would Trump Tower be turned over to New York City to perhaps ease our terrible housing crunch or more likely do what they always do another shitty Walgreens I think I think another shitty Walgreens whose shelves are bare from the rogue will understand what I guess. But the ones that do, as you can imagine, the prospect of Trump being held accountable for

what would be the first time, have the media enthralled. Donald Trump is running out of time to find $464 million. The former president's legal problems may finally be catching up with him. Could this be the beginning of the end for Trump's business empire? It does seem as though we are getting closer. Trump filling the walls, closing in on him. Panic mode, I'm told to setting it. I think we're going to be writing a version a a version a version a version a version a version a version a version a version a version a version a version a version a version a version a version a version version a version version a version version version version version a version version version a version version version version a version version a version of version of version of version of version of version of version of version of version of version of version of version of version of version of version of version of version of the the the the the the the the the the I'm told is setting it. I think we're gonna be writing a version of an obituary of the Trump organization.

RIP, the Trump organization, it died as it lived, fraudulently. Look, folks, it is very difficult to come back from an obituary. It looks like it's the end of the line for Donald J. Trump Esquire. No way! He comes up with half a billion dollars by the end of the day. I've been saving this. Since 2016. And it's finally here.

Judgment Day! Moments ago, the former president got a financial lifeline from a New York appeals court. This isn't going to be good. It reduced the bond he must pay in the civil fraud case for more than $450 million to $175 million and gave him more time to pay for it. Well that's still something, that's 10 days to come up with $175 million and gave him more time to pay for it. Well that's still something, that's 10 days to come up with $175 million? That... I mean, unless he's about to come and do a shit-ton of money, I don't see how he does that. The recent merger of Truth Social could net the former president some $3 billion dollars.

Mother F-f-f-f-hicker! Oh! Oh! That is New Year's Eve. Oh. You know what, let's take a step back. What did Trump actually do to earn this penalty? Well, it turns out that for a decade, whenever Trump wanted to get a loan or make a deal,

he would illegally inflate the value of his real estate. For instance, suggesting that his 11,000 square foot penthouse was a 30,000 square foot penthouse. I guess somehow including the sky in the calculation. We all do it. I mean in my license I'm not listed as 5-7, you know. I'm listed as 30,000 square feet. And the, that's, thank you. And the, the attorney general of New York knew that Trump's property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties. It was all part of a very sophisticated real estate practice known as lying. So the judge calculated that the value that he gained from the lying with interest was around

$454 million. Now, you might be saying to yourself, well, that sounds pretty straightforward. Whatever gains you got from lying, you have to pay back. Well, that's because you're a fucking idiot. Let's, let, no, just... If you knew anything about business, if you were in an MBA, you know, you're a fucking idiot. We're talking about a victimless crime. They filaintine an ordinance or a law that's never been used ever before and anyone else. He's committed bank fraud where there's no victim. It makes no, it makes no sense.

No victims. There was no victim. The ruling is blightently unfair. That didn't go over very well with the investment community because we're all asking each other who's next? Ah, who's next? The persecuted minority of the investment community. First they came for the arbitrages and I said nothing. For I was not an arbitrager. And then they came for the arbitrages and I said nothing. For I was not an arbitrager and then they came for the quants. Which I could be, I don't know what a quant.

But I am surprised to hear this from Kevin O'Leary, a guy who's such an asshole. Wait, that even the other people on Shark Tank thinks he's an asshole. Now, he's very chill. I'm surprised to hear that he's so chill about overvaluing something that he thinks is victimless, because when someone tries to do that to him... Which one of you do I absolutely tear the pieces now on a $28 million valuation? You think this is worth $10 million? Absolutely.

Now I'm going to rip your pieces. Are you out of your mind? Your valuation is crazy. I think that's a crazy valuation. I think your valuation is stinky poopoo. Oh no you didn't. Canadiens are so vulgar. How is he not this mad about overvaluations in the real world? Because they are not victimless crimes.

First, the banks got paid back at lower interest rates, although, to be honest, who gives a shit? But second, money isn't infinite. A loan that goes to the liar doesn't go to someone who's giving a more honest evaluation. So the system becomes incentivized for corruption. And this is part of a different Trump fraud case, but avoiding taxes hurts all of us. Donald Trump shenanigans cost the city of New York.

And to be honest, and let's be frank here, that is money that the city of New York could have used to build more Walgreens. Now, some blocks only have two of them. Leave it to Kevin O'Leary to be unaware enough to say the quiet part out loud. I hear about the so-called victim as crimes, but the laws on the books. Falseification of business records in second degree, issuing false financial statements, insurance fraud, conspiracy and all these different aspects of it Those are actual crimes. I take as your point is that these should not have been prosecuted Everything you just listed off is done by every real estate developer everywhere on earth in every city this has never ever been prosecuted

this has never ever been prosecuted There is a theory in law that if enough people commit a crime, it automatically becomes legal. You're familiar with the purge, are you not? The fucking entitled arrogance. I don't know if you know this, but most people just can't commit fraud and expect to face no repercussions, even if everyone's doing it. Try getting a car loan by saying you have ten times as much money as you really do, or claim 20 dependents when you have no children. Or say you make slightly less money to qualify for food assistance, I will guarantee you. There are not just financial consequences for those lies, but criminal ones.

But don't tell that to the investment community, because in their minds, in pursuit of profit, there is no rule that cannot be bent, there is no principle that cannot be undercut, as long as you and your fucking friends making money. And the only immoral practice, hold on, I'm not done. If I could, wait, if I could raise my chair up, I would. Apparently, the only immoral practice in the capitalist system is to use that money for people who may need it.

Fraud waste and abuse people never want to be honest about, but a lot of these parents will, you know, they abuse the system. A lot of them are encouraged to abuse the system. Where do you think the money that you get for food stamps and other things come? Who do you think pays that money, your health care? You're taking their money and you just is he entitled to it? Because food is a necessity and he doesn't have enough of it? You nutrition needing mother-fixie. Bringing our system to its knees.

Stealing is only justified when you already have too much. Ultimately, whether or not Trump is a victim of selective prosecution is going to be a matter for the Supreme Court to decide. Luckily, that is an institution which still holds the trusts of the American people because of of of of of of of of of of of of th of it th of it th of it th of it th of it's thi thi a matter for the Supreme Court to decide. Luckily, that is an institution which still holds the trust of the American people because of its integrity. For years, Justice Clarence Thomas has secretly accepted luxury gifts from a GOP mega-donor, Harlan Crow, gifts like private jet flights, luxury yacht cruises, and according to the report, the Supreme Court justice never reported them on annual financial disclosures.

Victimless! It's a victimless crime! Oh, f-fix it! When we come back, Gary Clark Jr. We'll be joining me on the show. Don't go away. Hey everybody, John Stewart here. I am here to tell you about my new podcast, The Weekly Show, coming out every Thursday. We're going to be talking about the election earnings calls. What are they talking about on these earnings calls? We're going to be talking about ingredient to bread ratio on sandwiches. I know you have a lot of options as far as podcasts go, but how many of them come out on Thursday. Listen to the weekly show with John Stewart wherever you get your podcast. Oh my gosh, you're my guest show my guest point.

A Grammy Award-winning musician. The new album is called JPEG Law. Please welcome Gary Kahn, Jr. Gary, so you know how much I love your music and what you do. I've heard. You have heard. I bother Gary, so you know how much I love your music and what you do. I've heard. You have heard. I bother Gary actually quite frequently because I'm such a fan of yours and because I love the music. But this album, JPEG is, I just feel like, is a masterpiece. Thank you. Like you killed it, dude.

It's so good. Thank you. I kind of felt that way, but it's good to hear somebody say it out loud. Do you do, when you are, because it is a not solitary process, but you don't have people really responding live or anything you're you're writing I guess in a environment without an audience. Yeah yeah yeah which is it's kind of terrifying right because in my own world I think it's the best thing ever but you never know till album drop days people can be like nah we don't want it but it's been good so far. You you could always if you needed needed reinforcement or any kind of comment,

obviously you have my number. Yeah, yeah. Yeah, yeah. And you're more than welcome to use it. OK. OK. Well, also, you know, here, Brett she's doing this drum and thing. Oh, I'm killing it so if you need a backup.

Oh, that'd be a kill. And I have a van if we need to travel to do stuff. Absolutely. Absolutely. That's important. That's important. First of all, I'm not the youngest or oldest person in it. And second of all, I'm not even the best drummer in it.

That's okay. I'm so th th th th th th th th th th th th th th th th th th th th th th th thoing th thoing thoing thoing thi thi thi. I'm thi. thi. thi. thi. thi. And I'm not even. And, I'm not even thi. And I'm not even. And I'm not even I'm not even I'm not even I'm not even I'm not even I'm not even I'm not even. And I'm not even. And I'm not even. And I'm not even. And I'm not even. And I'm not even. th. And I th. And I th. th. th. th. th. th. th. th. th. th. th. th. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. thi. I'm not. of that. I'm so glad that you've offered for us to open up for you on the road. We just started to write music. I'm telling you though, man, what I love about this album too is like, you know, there's the Gary Clark Jr. thing like that, distort a hard drive and blues. This album is that. thi, you, you, th, th, th, th, th, th, th, th, th, th, you, th, you, that, that, you, that, you, that, you, you, that, you, that, you, that, that, you, tho, you'll, that, that, you, tho, you, tho, tho, tho, tho, tho, tho, every decade of Americana music is in it man. Like was that intentional? I mean you croon on this, the falsetto, like there's glam rock. Like it's, you're, you're banging it. Yeah, well we did this, this record mostly was written during the pandemic, so I was by myself in a very smoky room doing

whatever I wanted. Oh, so the room is on fire? Sure. Okay. Yeah, yeah, yeah. Yeah, somebody. Yeah, somebody. Yeah, somebody.

You were just letting yourself go to every place, to, well there was no one saying Gary Clark Jr., the guitar player, any of that stuff, I kind of been pushed into being this guy who's like the savior of the blues and the blues is going to be fine. It's a music that is, we'll stand in touch with the time. It's everything is good. True, right? I will say this. People will always be sad. But the other stuff, man, you hit a falsetto and I was like,

I didn't even know you had that. Well, man, when I was a kid, I had a R&B group. It's called Young Soul with a buddy of mine, Robbie Sublet. And we used to sing like R&B song. So we would sing Boys to amazing, good looking kids, superstar, all the girls loved him. And I was like his backup singer, right? Basically, but we were a group. And, uh, yeah, you're not any of those things.

Yeah, yeah, yeah, so I thought I was gonna be an R&B singer. Right. And then he ended up moving to France and my friend Eve had a guitar down the street and she was like come hang out with us and I just I grew up as a kid listening to R&B music Curtis Mayfield right he be wonder Marvin gay all that kind of stuff so what was like when Stevie Wonder so Steve Wonder is on this record yes he is which is bananas what what was it when now did you did you reach out to Stevie Wonder and say, hey man, I've been a fan since I was a kid, any chance you might want to jump in or, no, he actually called me, yeah. Stevie Wonder.

Stevie Wonder, face time me. Yeah, yeah. Wait, Stevie Wonder did what? Stevie Wonder face time me. He facetimed you. Yeah, it was pretty cool. I'm just going to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to to th. th. th. th. th. th. th. th. thi. thi. th. th. th. th. th. th. the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the the th. th. th. thi. thi. thi. thi. thi. thi. the. the. the. the. the. the. the. thi. thi. the. thi. thi. thi you. Yeah, it was pretty cool. I'm just going to avoid that. It was, yeah, yeah. For, for, what was the impetus? Did he just say like, hey man, I've heard yourself, I love it? Like, what's, what was the impetus? Well, yeah, well, he had called me to do a song on his record. It was, uh,then soon after that everything was kind of going crazy and I was frustrated

There was no outlet I wasn't out seeing people I was just in my phone and then I got to record in a video of me kind of the hell's going on like you know just in the world in the world is like what are we gonna do you know I was frustrated I was a little angry I was concerned but always with a sense of hope. So he facetimes me. He always says my name really weird. It's funny. He goes, Gary. I don't know where that comes from. But so that's my name now. Gary. But so he called me and said, I heard what you were saying.

I see you. Let's make a song about it. He said, as a matter of fact, I have an idea. the name. the name. their their their their to to say, to to to their. to. to. to. to. to. to. the name. to. the name. the name. to. to. to. th. th. th. th. th. th. th. thi. th. th. th. th. He's, th. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He. He's. He. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's. He's make a song about it. He said, as a matter of fact, I have an idea. There's a song called, What About the Children? He's like, I'm going to send you a voice memo. You want to collab. I'm like, what am I going to say no? Like, of course. So he sends me a demo and I get to work sing on it now and not only does he sing on it he plays beautiful harmonica he plays Clav in that he hadn't played

Clave and I think 30 something years really classic Stevie but like in the future it's amazing he's 80 something years old and is he really and I thought that I was working hard in the studio and if you ever see if you ever think you're doing too much, watch Stevie Wonder work. Really? Yeah, it's incredible. And it's still just joyful. I mean, the one thing about Stevie Wonder is when he plays,

boy, you feel the joy, you see the joy. It just emanates off of him. Absolutely. He's tapped into something that I don't think that many people are able to tap into. Right. What a joy to be able to work with that. And then he got George Clinton. We had George Clinton come on that supposed to have been 10 or 11 years ago and I just remember that day being like, is George here yet? Like, no, George Clinton was always like, he's like, he's like, I think he's in a van coming up the turnpike. It was oneaky though is always the most solid you can depend on. That's probably the truth. The song habits. Yeah.

What's that? It's a song about struggles. Yeah. You know, just really struggles, my personal struggles. It's something that I've always kind of been shy about expressing. You know, it's in this world, it's like the flex and everything's cool and everything's raw-raw and you know, post the trophies and the great times and all. Golf tournament, if you win a golf tournament, put that, put that right out there. Congratulations. Oh, it's amazing. Yeah, yeah, yeah. How do you win that? Yeah, so don't worry about anything else is going. I want this thing twice, right? Yeah, so it was, you know, I've had my struggles over the years.

I got into the business as a young person, 14. And older folks, they taught me how to drink, they taught me how to smoke. And I've had my battles ever since. And I've had some losses in my life. Just being real, I just thi the losses, I've the losses, th, th, th, th, th, th, and I, th, th, th, th, th, th, th, thi, th, th, thi, thi, tho, tho, tho, tho, tho, tho, thi, I've, I'm, I'm, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I've, I'm, I'm, I'm, I'm a......... And, to. And, to. And, to. And, too, too, too, too, to, too, to, to. I've got. I've got too, I've got too, I've tho, I've some losses in my life and just being real honest about it. So I've got habits that I just can't break when I think about it. It's a beautiful song, man. It's real and it's raw and I hate to like make everybody sad but I think it's cool. It's fantastic and it's, you know, there's also a certain courage in just saying like, hey man, and this song is nine minutes and I'm worth every second. Thank you. Thank you. Well. It th. It th. It th. It th. It th. It th. It th. It th. It's. It's. It's. It's. It's. It's. It's. It's. It's. It's. It's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's, it's real. It's real. It's real. It's real. It's real. It's real. It's real. It's. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real. It's real, it's real, it's real, it's real, it's real, it's real, it's real, it's real, it's real, it's real, it's real. It's real. It's real. It's worth every minute. It's worth every second. Thank you. Well, we actually chopped off a two-minute intro.

I felt it was lacking something. Yeah. No, I felt that in the beginning. There's more. No, it's fantastic. It's always such a pleasure to see you, man. Likewise, thanks. Man, you're such a good man.

Hey, everybody, John Stewart here. I am here to tell you about my new podcast, The Weekly Show, coming out every Thursday. We're going to be talking about the election. Earnings calls. What are they talking about on these earnings calls? We're going to be talking about ingredient to bread ratio on sandwiches. I know you have a lot of options as far as podcasts go, but how many of them come out on Thursday? Listen to the weekly show with John Stewart wherever you get your podcast. Oh, that's our show for tonight.

Before we go, we're going to check in your host for the rest of the week, Mr. Jordan Clepper. Hey! Hey! What? Tell me this. What are you going to be talking about this week? Oh, John, I gotta tell you, it'll be a bittersweet week, as it will be my last week at the show. What? Yes. Before I transition to my new job, you're looking at the new CEO of Boeing. You don't have...

You don't have... I wouldn't applaud that because you don't have... And I don't mean this to disparage. Do you have any experience in aeronautics or business or anything? No. Okay, okay. But I brought this wrench to the interview and they were like, oh my god, you have exactly what we've been looking for.

Can't be worse than what they had. Jordan Kupper all this week, everybody. Here it is the moment is. None of this would be happening if Donald Trump wasn't running for president. They've, they've issued 91 indictments against Donald Trump. Charles Manson faced 10. Explore more shows from the Daily Show podcast universe by searching the Daily Show, wherever you get your podcasts. Watch the Daily Show weeknights at 11, 10 Central on Comedy Central Central and stream full episodes anytime on Fairmount

Plus. This has been a Comedy Central podcast. Survivor 47 is here which means we're bringing you a brand new season of the only official Survivor podcast on fire and this season we are joined by fan favorite and survivor 46 runner-up Charlie Davis to bring you even further inside the action Charlie I'm excited to do this together. Thanks Jeff so excited to be here and I can't wait to bring you inside the mind of a survivor player for season 47. Listen to on fire the official survivor podcast starting September 18th wherever you get your podcasts.