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Banks and corporations have their own actuaries and finance teams who do that work. I don't know why people would literally think that Trump himself put the value and that he cheated the bank. In fact, the bank made billions of dollars, and in doing so, created thousands of jobs for New York City residents.
Even if Trump put a value on the property himself based on his own thoughts, which is unlikely, there are too many holes in the verdict: The fact that there was a professor from NYU's Stern school of Business who looked over the entire deal and testified that nothing was wrong; that Trump was not allowed to have a jury in a millions dollar case, and that Leticia James said she will go after him - even before she was able to look at any details of the case wreaks of corruption. She wanted to get him over anything.
I have no doubt, based on what Judge Napolitano said, that Trump will win the appeal. But so that all can know how corruption works, Judge Engoron (who presided the case) knew that Trump will not get an appeal date anytime soon, and that he'd have to pay within 30 days. It's ridiculous, really.
When it comes to this case, people who are anti-Trump do not see the forest for the trees: They get giddy because Trump is being fined, but they don't understand that this exposes the massive corruption in the city.
If after the migrant crisis we don't see this city turn red, it's 100% election interference, and no one can change my mind about that.
Actuaries are not qualified to verify the square footage of a building, or any space within it. The only people who are qualified to do this are a licensed architect or a professional engineer.
I run into this a lot for business, the banks often want proof from DOB (CofO or LNO) before the borrower can secure financing. Lets leave our emotions out of this and speak on the facts.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
When it comes to this case, people who are anti-Trump do not see the forest for the trees: They get giddy because Trump is being fined, but they don't understand that this exposes the massive corruption in the city.
If after the migrant crisis we don't see this city turn red, it's 100% election interference, and no one can change my mind about that.
It not only exposes the corruption, it also reinforces the statement that Trump made, a while back, when he said, "It's not really me that they're after, it's you....I'm just in their way".
So, if businesses seeking credit are required to not commit fraud when they value their assets its going to make them relocate?
Businesses will now want to minimize their liability risk by estimating their assets at a much lower value thus lowering how much they can borrow. In effect reducing the capital flow in NYC.
Not to mention the political risk that at any time a woke AG can drag you into court on the basis of a naive theory of injured party.
Businesses will now want to minimize their liability risk by estimating their assets at a much lower value thus lowering how much they can borrow. In effect reducing the capital flow in NYC.
Not to mention the political risk that at any time a woke AG can drag you into court on the basis of a naive theory of injured party.
Businesses will now want to minimize their liability risk by estimating their assets at a much lower value thus lowering how much they can borrow. In effect reducing the capital flow in NYC.
Not to mention the political risk that at any time a woke AG can drag you into court on the basis of a naive theory of injured party.
I wouldn't want a business in my state that deliberately inflated its property values to get a loan.
Most of you are missing the issue here. The banks lost out here because if Trump's property had been fairly valued he likely would have had to pay a higher interest rate for the loans he got. So, yes, not only is it a form of fraud, but it did cost them.
“Economic Assassination" : a rabidly anti-Trump New York judge creates a "fraud" case
with no victim, no complaints and no losses. With no jury the anti-Trump petty dictator finds Trump a half billion dollars, exiles the President and his sons from New York business for three years and blocks all New York banks from loaning Trump the money to pay the fine. Equally rabid anti-trump New York Attorney General announces she will seize Trump's buildings and other property unless he puts up half billion in escrow. You don't need Siberia to destroy an opponent if you have New York.
“Economic Assassination" : a rabidly anti-Trump New York judge creates a "fraud" case
with no victim, no complaints and no losses. With no jury the anti-Trump petty dictator finds Trump a half billion dollars, exiles the President and his sons from New York business for three years and blocks all New York banks from loaning Trump the money to pay the fine. Equally rabid anti-trump New York Attorney General announces she will seize Trump's buildings and other property unless he puts up half billion in escrow. You don't need Siberia to destroy an opponent if you have New York.
“Economic Assassination" : a rabidly anti-Trump New York judge creates a "fraud" case
with no victim, no complaints and no losses. With no jury the anti-Trump petty dictator finds Trump a half billion dollars, exiles the President and his sons from New York business for three years and blocks all New York banks from loaning Trump the money to pay the fine. Equally rabid anti-trump New York Attorney General announces she will seize Trump's buildings and other property unless he puts up half billion in escrow. You don't need Siberia to destroy an opponent if you have New York.
The problem with their plan is Trump already has the money for escrow.
And perhaps a legal expert can chime in, but I believe once he deposits the money into escrow while the appeal is ongoing, whatever interest it earns will be returned to him if his appeal is successful.
Businesses will now want to minimize their liability risk by estimating their assets at a much lower value thus lowering how much they can borrow. In effect reducing the capital flow in NYC.
Not to mention the political risk that at any time a woke AG can drag you into court on the basis of a naive theory of injured party.
And that's exactly why O'Leary is getting outta here!
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