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This is the "game" that every bank deals with on a daily basis. I take it that you've never sought a loan from the Commerical Lending Department of a large bank. It is standard practice for the bank to require an updated Net Worth statement. This includes not only your income, but also your assets and liabilities.
No one, and I mean NO ONE undervalues their own assets when seeking one of these loans. The banks, of course, are used to this practice and have their own appraisers to assess the veracity of these net worth statements. Based on what I've read, none of the banks that lent money to Trump lost any money on the loans. Trump paid them all back with interest as agreed.
So, who is the "victim" here? If Trump paid back every loan with interest, as agreed, then who is the victim?
.
Funny thing, these same types of people going after Trump for this BS want these college students who took out expensive college loans with NO collateral to get off the hook because their overpriced degrees ended up being worthless 4 years later. So by the same merits, shouldn't this prosecutor go after all of these colleges that over value the price of their classes?
Financial crimes like this are not “victimless” because they effectively penalize every business that accurately values its assets. Those businesses will end up paying more than they would have otherwise, all things being equal. That is bad for corporations and the reason the state has this statute in the first place — to create an equal playing field. And that is a pro-business attitude despite what many posters believe. And I suspect that the lenders accepted the high property valuations only because of the “prestige” of having Trump as a client. Now they look incompetent and untrustworthy just as the commercial real estate market is tanking. A pox on all their houses.
This judgement isn’t anything but a clear demonstration that the bigger they are, the harder they fall.
I'm not worried. I think the SCOTUS ruled on the Texas not being allowed to take matters into their own hands with the border so they can also tell the blue states they can't keep a candidate off the ballots or try and use frivolous law suits to attack candidates. And what the DA and judge in NYC are doing is in my opinion, a violation of the 4th amendment. I didn't like it when the district attorneys and special attorneys went after Bill Clinton over that stupid affair and I don't like what they are doing to Trump either. Both were witch hunts because I do believe both guys got in the way of the deep state's globalist plans. Only thing, Clinton folded in the end when he signed NAFTA and didn't try to retain the US's control of the Panama Canal.
Corporations based in New York could be headed for the exits, after seeing the Trump biz verdict.
New York has already lost >50% of its Fortune 500's, but this verdict could cause many of the rest to leave New York too.
This verdict, sets the tone for a toxic business environment in NY, which the Fortune 500 hates, & fears.
Also, work-from-home means Fortune 500's can hire a workforce that is disbursed geographically, and no longer require large office spaces so common to New York. This trend is already hurting New York City's small businesses that cater to the urban work force.
Office space occupancy is cratering in NYC, & this verdict will amplify that trend.
I predict this verdict will expedite the exodus of big corp jobs leaving New York.
Trump will just move his empire to Florida, like others have already done...and many more will follow suit.
Financial crimes like this are not “victimless” because they effectively penalize every business that accurately values its assets. Those businesses will end up paying more than they would have otherwise, all things being equal. That is bad for corporations and the reason the state has this statute in the first place — to create an equal playing field. And that is a pro-business attitude despite what many posters believe. And I suspect that the lenders accepted the high property valuations only because of the “prestige” of having Trump as a client. Now they look incompetent and untrustworthy just as the commercial real estate market is tanking. A pox on all their houses.
This judgement isn’t anything but a clear demonstration that the bigger they are, the harder they fall.
It's clear that you don't understand the situation at all. There were no "victims". No one was involved in this other than the Trump corporation and the banks he did business with. This verdict penalizes no one but Trump.
The banks did NOT lend unreasonable amounts of money to Trump. The banks did their due diligence and evaluated the properties as they should have been. In fact, many of Trump's properties were evaluated at an unreasonably LOW price by the banks. They did NOT accept what Trump claimed they were worth.
No one is looking "incompetent and untrustworthy" other than the prosecutor and her cronies who are bringing criminal charges against Trump for allegedly defrauding the banks who are not complaining at all and who have not lost a penny in these transactions! In fact, the banks have made many MILLIONS of dollars off Trump on these loans.
How the hell can the law prosecute someone when there is no victim and no one even CLAIMING to be a victim?????
While I wouldn't be surprised that Trump and ALL those billionaire tycoon types in NYC are not boy scouts in the world of finance, I think the Mayor , especially the previous one did way more harm and is still doing way more harm to NY and NYers.
Out of all the problems going on in the city, booting Trump out isn't going to change that.
Location: 23.7 million to 162 million miles North of Venus
23,477 posts, read 12,487,658 times
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Quote:
Originally Posted by crone
Everybody in NYC knew about Trump. Nobody will leave because of Trump.
May be other reasons. Most people are happy about the result.
They wouldn't be leaving because of Trump. They would be leaving because they wouldn't want to be politically persecuted and be fined huge amounts and/or lose their businesses because of eager AG's and judge's. Democrats have made it easy for that to happen.
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