President Barack Obama said Donald Trump’s tweets about a lawsuit over a day trading system he is suing are not new.
The president said in an interview Sunday with CBS’ Face the Nation that he was not surprised Trump had taken to Twitter to blast a judge who is overseeing the case.
“We’ve got a lot of cases like this that are going to get litigated.
I’m sure it’s going to be litigated, and I’m not going to speculate, but he’s certainly going to try to use it as a tool,” Obama said.
Trump on Monday retweeted an image of himself with his head tilted in disbelief, with the caption: “Trump has not read the opinions of a judge.”
“The tweets are potentially dangerous, they’re certainly not new,” Obama added.
“They’re a distraction.
I don’t know if he’s actually read the opinion or not, but that’s not the case, as far as I’m concerned.”
The president also said he was still “very confident” that Trump would prevail in the lawsuit, which has been brought against the Securities and Exchange Commission (SEC).
Trump has been trying to force the agency to regulate the futures market since April.
He said he wanted the agency’s rules on the day trading to be the “most rigorous, strictest, toughest, and most transparent system ever put in place.”
The lawsuit has been backed by several investors and financial institutions, including the nation’s largest hedge fund, Goldman Sachs Group Inc.
The case is the latest blow to the financial system as the market continues to crumble.
The market was trading above $300 on Friday before Trump’s tweet, while stocks and bonds dropped.