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we were looking at instance after instance of suspected illegal conduct. of course, they had to be provable, but if they were proved their collective weight left no doubt in my mind that trump deserved to be prosecuted. measures short of criminal prosecution had been used against trump, and he had dismissed them as trivial. looking at the totality of trump's conduct over the years i thought it was crystal clear that measures short of criminal prosecution meant nothing to him and would not deter him in the slightest from engaging in other anti-social behavior. indeed, the more successful he became, the more brazen was his behavior, he'd stiffed many contractors and small business owners who decided to advance services or products to the trump organization because, after all, donald trump was so wealthy. michael cohen had told us that a big part of his job was telling small credit tors who did business with trump that they weren't going to get paid and forcing them to accept whatever modest sups trump would give them. the enterprise corruption statute targeted just this kind of behavior using a pattern of criminal activity to increase an
wealthy. michael cohen had told us that a big part of his job was telling small credit tors who did business with trump that they weren't going to get paid and forcing them to accept whatever modest sups trump would give them. the enterprise corruption statute targeted just this kind of behavior using a pattern of criminal activity to increase an entity's economic power enabling it to inflict greater social harm. mr. pomerantz, you describe that consideration of using state rico charges essentially against trump but then you say, quote, the task of building out the proof on the whole pattern of enterprise corruption was simply too ambitious for the human and investigative bandwidth we had. in other words, you think you have the substance of a case there but it was basically too hard to do given the resources of the d.a.'s office, is that fair? >> it is fair. one of the things that people need to remember is that the district attorney for new york county is a local prosecutor's office. this is not the kind of special
obama appoint tee. washington was very involved in her work on tea party applications as well. back to you. >> elizabeth prann live in washington thank you. a fox business alert. the largest city to file for bankruptcy. >> good morning ainsley and patti ann. the motor city is now the broke city. detroit is the largest municipal bankruptcy in american history. detroit's finances had been in decline and unable to pay its bills. they left nearly 20 billion in debt owed to 1,000 creditors. he told us what went wrong on special report last night. take a listen. >> in detroit there was a lack of contribution there was multiple cases of mismanagement that went on for a long period of time with respect to pension liabilities in detroit. >> some credit tors were asked
2008. a whole lot of smart people sat around a table and said, it's not going to be all that bad if we let lehman brothers collapse. we didn't know what the consequences were either. you are a global financial journalist. what happens? >> this isn't something we need to debate that much. it is absolutely clear if the u.s. defaults on its debt, that's a catastrophic event for america and for the global economy. that is a moment when people stop having faith in the u.s. government and they should stop having faith in fact u.s. government. the u.s. government wouldn't be paying its credit tors. so new creditors are not going to be knocking on america's door. if they do come in, they will require much, much higher rates of interest. >> for viewers out there, that's how it afghanistan you. if the u.s. pays more to borrow money, you pay more for your mortgages, your companies and employers pay more to borrow money. that tends to give them less available cash to hire people.