By: Tzirel Rosenblatt

President Donald Trump escalated his long-running feud with New York Attorney General Letitia James on Saturday, accusing her of crippling the state’s economic environment and driving businesses into the arms of rivals such as Texas. Writing on Truth Social, Trump described James as a “complete and total disaster” and predicted that the newly formed Texas Stock Exchange would siphon “hundreds of billions of dollars” away from New York’s traditional financial hubs.

As VIN News reported on Saturday, Trump’s remarks represent his most direct and personal attack yet on James since she secured a multibillion-dollar civil fraud judgment against him earlier this year. In his post, the former president portrayed James not only as a partisan adversary but as a central figure in what he described as the accelerating decline of New York’s competitiveness as a global center for commerce and investment.

“She is a complete and total disaster, who tried running against Kathy Hochul for governor and only got 1% of the vote in polls, and quit,” Trump wrote, referencing James’ short-lived bid for the Democratic gubernatorial nomination in 2022. Trump emphasized her withdrawal as evidence of her weak political standing before pivoting to what he cast as her obsessive focus on targeting him.

“She then went back to her witch hunt against President Donald J. Trump, and others,” he added, reprising the rhetoric he has consistently used to dismiss legal actions against him as politically motivated. “Until this ‘scum’ is removed from the Attorney General’s office, no company will move to New York, and few companies will be using the New York Stock Exchange or NASDAQ for going public.”

The report at VIN News observed that Trump’s choice of words — particularly his characterization of James as “scum” — reflects the increasingly personal nature of his fight with the attorney general, who has sought to cast herself as a guardian of accountability against financial corruption.

Trump’s warning that James is hastening a corporate exodus from New York echoes longstanding complaints by business leaders about the state’s regulatory environment, tax burdens, and political climate. The former president specifically highlighted the Texas Stock Exchange, a new venture that aims to compete directly with New York’s iconic exchanges by capitalizing on dissatisfaction among companies wary of progressive policies in the Empire State.

According to the information provided in the VIN News report, Trump’s forecast that “hundreds of billions” could migrate to Texas may be hyperbolic, but it reflects a genuine fear within New York’s financial sector that the state is losing its once unassailable dominance. With Wall Street facing mounting competition from other states offering lower costs and friendlier tax structures, Trump’s remarks tap into broader anxieties about the future of New York’s status as a global financial hub.

James, who took office in 2019, has made no secret of her determination to pursue Trump and his businesses. She successfully brought a civil fraud case accusing the Trump Organization of inflating property values to secure loans, leading to a judgment that could cost Trump more than $350 million.

Supporters of James argue that she has upheld her duty to hold powerful actors accountable, but critics — including Trump and his allies — say her focus on high-profile cases against political opponents has come at the expense of creating a stable business environment.

As the VIN News report noted, James’ record is increasingly polarizing. While she has been celebrated on the political left for taking on Trump, business leaders and conservatives warn that her aggressive posture creates the perception of a hostile climate for enterprise.

Trump’s broadside against James was also part of a wider critique of New York’s leadership, which he accuses of mismanaging the state into economic decline. He has frequently contrasted New York’s policies with those of Florida and Texas, two states that have attracted both residents and companies fleeing high taxes and regulatory burdens in the Northeast.

“New York used to be the financial capital of the world,” one Trump ally told VIN News. “Now you’ve got firms moving to Miami, to Dallas, to Austin, because the leadership in Albany and New York City would rather score political points than create jobs.”

Trump’s focus on the Texas Stock Exchange adds a new dimension to his critique. While exchanges such as NASDAQ and the New York Stock Exchange remain dominant, the rise of alternative trading platforms reflects both technological change and frustration with the existing regulatory frameworks.

The attack on James also plays into Trump’s broader political strategy as he campaigns for another term in the White House. By framing James as emblematic of what he views as Democratic overreach and hostility to business, Trump positions himself as a defender of enterprise and prosperity against ideological opponents.

As VIN News reported, Trump’s choice to link James’ actions with potential economic consequences for New York is likely intended to resonate with voters beyond his core base. By suggesting that her conduct threatens jobs, investment, and the future of Wall Street, Trump ties his personal legal battles to broader questions of economic health and stability.

Business leaders in New York are already grappling with concerns that the state’s reputation has been damaged by crime rates, high living costs, and outmigration. Trump’s critique amplifies fears that the state is not only losing residents but also its status as an attractive place for investment.

The VIN News report highlighted that James’ detractors see her pursuit of Trump as symptomatic of a larger problem: a governing class more interested in political crusades than in fostering growth. Whether fair or not, that perception could accelerate the momentum of financial and corporate institutions exploring options in lower-cost states.

The Texas Stock Exchange, backed by major investors, has positioned itself as an alternative to New York’s dominance by offering companies a friendlier regulatory climate. While it remains to be seen whether it can compete at scale with the NYSE and NASDAQ, its emergence underscores the shifting dynamics in the U.S. economy.

Trump’s prediction that it could absorb “hundreds of billions” in business may be aspirational, but as the VIN News report observed, the fact that a serious alternative exists highlights how much New York’s supremacy is being tested. For Trump, the rise of Texas as a challenger is both symbolic and strategic: a way to underscore his narrative of decline under Democratic leadership while pointing to Republican-led states as the future.

As of Saturday evening, James had not publicly responded to Trump’s latest remarks. Her office has previously brushed off his attacks as “unhinged rants” meant to distract from his legal liabilities.

But as the VIN News report noted, the silence may reflect an awareness that Trump’s attacks are not only personal but resonate with wider anxieties about New York’s trajectory. By targeting James, Trump indirectly calls into question the direction of the state under Democratic leadership more broadly.

The confrontation between Donald Trump and Letitia James is more than a legal dispute; it is a clash of narratives about the future of New York itself. For Trump, James symbolizes a political class that prioritizes vendettas over prosperity, driving companies and capital out of the state. For James’ supporters, her pursuit of Trump is a matter of justice and accountability, demonstrating that no one is above the law.

As the VIN News report emphasized, the stakes of this conflict extend well beyond the courtroom. They touch on the vitality of New York’s economy, the credibility of its institutions, and the broader contest between progressive governance and conservative visions of growth.

Whether or not the Texas Stock Exchange realizes Trump’s prediction of capturing “hundreds of billions,” the warning carries weight: if New York cannot restore confidence among businesses and investors, it risks watching its once unassailable dominance erode in real time.