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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.
The bank literally testified that they made money with Trump and that there was no issue where they felt cheated. In fact, there were several occasions when Deutsche Bank said that it was them who lowballed Trump.
The bank literally testified that they made money with Trump and that there was no issue where they felt cheated. In fact, there were several occasions when Deutsche Bank said that it was them who lowballed Trump.
The bank doesn't care. If Trump were to default on the loan, they take his penthouse and sell it to a foreign buyer to recoup. But you go try taking a personal loan at a bank and telling them you're worth more than you really are and see what happens. If what Trump is doing is right, then we should be all able to do it.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
The bank doesn't care. If Trump were to default on the loan, they take his penthouse and sell it to a foreign buyer to recoup. But you go try taking a personal loan at a bank and telling them you're worth more than you really are and see what happens. If what Trump is doing is right, then we should be all able to do it.
You hit it perfectly. If I got a loan by inflating the value of my home and that was discovered I could be prosecuted for breaking federal laws dealing with bank fraud. If I pay the loan off, it doesn't change things because the bank wouldn't have given me the loan in the first place.
Here we go again though. Cult members are essentially saying Trump is "different" than everyone else. He's better because he's wealthy and makes money. It makes me ill.
The bank! The only reason the bank doesnt care at the moment is because he's offering collateral (the penthouse). What happens if he defaults and then the bank finds out the property isn't worth the amount of the loan when they try and offload it? Because the bank doesnt want to be a landlord. That's why its illegal. If the loan defaults, and the bank finds out the property isn't worth what it was appraised for, the bank is in deep doo-doo. Get it now?
This is why I'm in shock there was no mention of the square footage verified by the Department of Buildings, they have the records on file. All the bank had to do was request from Trump's team to supply them with the records from DOB. Why would I trust a banker with a tape measure instead of a calculator?
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
The tax payers of NY who are behaving in a legal way by paying their taxes despite not being scofflaw multi-millionaires grifting the system.
Do you realize that Trump has a small number of goats hidden away in a corner of Bedminster National Golf Club & claims the Country Club as a farm? This way he avoids paying thousands of $$$ annually in taxes there. It's always a grift.
The bank! The only reason the bank doesnt care at the moment is because he's offering collateral (the penthouse). What happens if he defaults and then the bank finds out the property isn't worth the amount of the loan when they try and offload it? Because the bank doesnt want to be a landlord. That's why its illegal. If the loan defaults, and the bank finds out the property isn't worth what it was appraised for, the bank is in deep doo-doo. Get it now?
This is why I'm in shock there was no mention of the square footage verified by the Department of Buildings, they have the records on file. All the bank had to do was request from Trump's team to supply them with the records from DOB. Why would I trust a banker with a tape measure instead of a calculator?
Your explanation is not supported by the trial testimony. ALL the banks Trump did business with testified they did their own due diligence and were satisfied with the loan agreements.
Your explanation is not supported by the trial testimony. ALL the banks Trump did business with testified they did their own due diligence and were satisfied with the loan agreements.
Once again, who is the injured party?
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