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Trump did hire various third party appraisers over the years; however, Trump and his company ignored those third party valuations. The Trump Org. inflated their own internal financial statements which were which were then provided to banks, insurers, etc.
The inflated valuations were made by Trump personnel, not third party appraisers, and they were pulled out of thin air and based on lies. Those are the facts of the case.
As noted in the decision document, in one case, Trump personnel lied and misrepresented what an appraiser from Cushman and Wakefield had said about one of Trump's properties. In other instances they just ignored what third party appraisals had said and used lies and other B.S. to inflate property values on their own accord.
never let facts get in the way of a good political story line. they defend this creep with the most rediculous reasoning
Politically motivated by the WH this may hurt trump on the short term, but the people of NY will be the one who will have the state downsized as business are leaving NY in droves and even some truckers are boycotting the state when what trump did was not wrong as there was no offence in the banking communities, as the bankers want more business with trump
Politically motivated by the WH this may hurt trump on the short term, but the people of NY will be the one who will have the state downsized as business are leaving NY in droves and even some truckers are boycotting the state when what trump did was not wrong as there was no offence in the banking communities, as the bankers want more business with trump
Short and to the point.
Well done......................................
they'd stone and crucify Obama to the cross, and have Trump light the match
Disagree............
Don't let the wool be pulled over your eyes.
Obama was never the poster child black man just waiting to be incarcerated.
Obama was raised middle class in Honolulu. In the company of some of the wealthiest people on earth.
His time in Harlem was Columbia University and not some N.Y.C. Housing Project.
Obama was raised among the very rich and today worth close to 100 million.
That makes him an elite and having the power ( for arguments sake ) to crucify. Not the other way around.
So Trump is allowed to commit fraud as long as no wars are started?
WHAT fraud???
He applied for loans, using his properties as collateral. He said they were worth "X" dollars, and the banks, if they did their due diligence, investigated and said they were worth "Y" dollars, with BOTH parties trying to negotiate the best deal for themselves.
They compromised at "Z" dollars for the loan, gave Trump the loan, he repaid it, as contracted, and everybody was happy. So, I reiterate, "what fraud"?
Let's put it this way.....you ever buy a new car, and it involved a trade-in of your old car? You walk into the dealership, knowing the new car you want will be about $25K, less any discount they might offer. And you're thinking your old heap should be worth AT LEAST $6000, or maybe that's what you'll need to get for it, in order to be able to swing the deal. The dealer looks at your car, and says, "We'll give you $3500, best offer....and with respect to that discount on the new one, "sorry, that's a hot seller, right now, so $25K is a firm price".
So, what do you do? You NEGOTIATE!!! And THAT'S what Trump did, except unlike you, he wasn't buying a car, he was buying money..........
He applied for loans, using his properties as collateral. He said they were worth "X" dollars, and the banks, if they did their due diligence, investigated and said they were worth "Y" dollars, with BOTH parties trying to negotiate the best deal for themselves.
They compromised at "Z" dollars for the loan, gave Trump the loan, he repaid it, as contracted, and everybody was happy. So, I reiterate, "what fraud"?
Let's put it this way.....you ever buy a new car, and it involved a trade-in of your old car? You walk into the dealership, knowing the new car you want will be about $25K, less any discount they might offer. And you're thinking your old heap should be worth AT LEAST $6000, or maybe that's what you'll need to get for it, in order to be able to swing the deal. The dealer looks at your car, and says, "We'll give you $3500, best offer....and with respect to that discount on the new one, "sorry, that's a hot seller, right now, so $25K is a firm price".
So, what do you do? You NEGOTIATE!!! And THAT'S what Trump did, except unlike you, he wasn't buying a car, he was buying money..........
So misrepresenting my 10k sq ft PH as 30k sq ft is negotiation? Lol. If thats all it was, then go try to get a loan with a bank, and tell them the sq ft of your house is double what it really is.
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
So misrepresenting my 10k sq ft PH as 30k sq ft is negotiation? Lol. If thats all it was, then go try to get a loan with a bank, and tell them the sq ft of your house is double what it really is.
If I go to a bank and do what you suggest, the bank will do it's own due diligence, send a guy with a tape measure, perform their own estimate and then the bank will notify me saying "your sq footage is less than on your application". At that point I can defend my estimate, the loan is denied or I need to modify the loan application.
If the bank accepts the application as is that's the bank's choice.
What's the problem?
Last edited by kmrlongisland; 02-22-2024 at 08:53 AM..
If I go to a bank and do what you suggest, the bank will do it's own due diligence, send a guy with a tape measure, perform their own estimate and then the bank will notify me saying "your sq footage is less than on your application". At that point I can defend my estimate, the loan is denied or I need to modify the loan application.
If the bank accepts the application as is that's the bank's choice.
What's the problem?
Thats not whats supposed to happen, why would I trust a bank with their tape measure over what the Buildings Dept has on file? I can go down there and get certified plans of my building to verify square footage. The bank should not be taking on that responsibility.
__________________
"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
So misrepresenting my 10k sq ft PH as 30k sq ft is negotiation? Lol. If thats all it was, then go try to get a loan with a bank, and tell them the sq ft of your house is double what it really is.
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.
Short and to the point.
Well done......................................
So, if businesses seeking credit are required to not commit fraud when they value their assets its going to make them relocate?
I don't think I would want crooked businesses in my state anyway.
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