"Every real estate developer everywhere does this" says Kevin O'Leary reacts to Trump civil fraud case

[Yarddog]

Watch Kevin O'Leary reaction to Trump's New York civil fraud case by the CNN reporter:


"Well, let's leave out Trump for a minute, and let's leave out politics, and just talk about what happens in real estate development anywhere.
So, if you're a developer and you've got a building on the block, anywhere in America, and it's worth, let's say, $500 million, and you want to build a building right beside it, you go to the bank and say, "This building is worth $500 million. I'd like to borrow a construction finance loan against this asset, and I want you to tell me it's worth $500 million too."
And by the way, forget about Trump, every single real estate developer everywhere on earth does this.
They always talk about their asset being worth a lot and the bank says no. That's just the way it is.
So in this case, what I'm trying to figure out, and I'm not pro or con, or I don't care about the politics, who lost money?
Nobody. The bank got paid back the construction finance loan, and a new building was built.

And O'Leary goes on...
If you're going to sue this case and win, you've gotta sue every real estate developer everywhere. This is all they do.
This is what they do all day long every day.
So I don't think this thing will ever survive appeal regardless of what the fine is. This doesn't even make sense.

Now Those of you that aren't aware of this, let's put this into something you can comprehend.
In Dallas, Texas this property has a Zillow Market value of as high as $29.36M...

But the city of Dallas says the "Taxable Value" value for tax appraisal for the city, School,College, Hospital,

View attachment 887755

So as O'Leary states... "Every real estate developer everywhere does this':
Market value:

Real Estate & Homes For Sale - 42610 Homes For Sale | Zillow

Zillow has 42610 homes for sale. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.

www.zillow.com

Start now Home value Zestimate $21,745,900 Zestimate range $15.87M - $29.36M Last 30-day change
Highest Market value of this property: $29,360,000
Tax value of this property: the most: $18,923,660
A 64% of market value...

So in the Trump case using the same ratios Trump has done as O'Leary says..
"every single real estate developer everywhere on earth does this. "

The Democrats would probably be just fine in re-structuring our real estate industry and they way they do business if it meant they could GET TRUMP... I have no doubt they would.

 

[healthmyths]

I'm not a Democrat. You've been brainwashed into believing that anyone that doesn't support Trump must he a Democrat.

Some are simply decent people.

Actually some of you are probably decent people but kind of childish, i.e. your opinion of Trump is based on characteristics I agree with you about him... Trump is a dick. A asshole. A bastard. A braggart. A narcissist!
All those things that just like a few successful people like him ARE! The major difference between Trump and the few successful people I knew with Trump's personal characteristics ARE EXECUTIVES that are successful!
AGAIN Trump is all the above negative characteristics BUT I over look them as I'm evidently less concerned about trivial personality characteristics but more concerned that :
1) Trump was like only 2 other presidents...i.e. donated his salary!
2) Created energy independence that was NOT the case for nearly 62 years!
Trump "drill, drill, drill"!
Trump was ONLY President U.S. energy production in 2019 was higher than U.S. energy consumption for the first time in 62 years. Thus, the U.S. attained the long-held goal of “energy independence”The United States Was Energy Independent in 2019 for the First Time Since 1957
BIDEN guarantees that gas prices would rise!
"I guarantee We Are Going To Get Rid of Fossil Fuels” September 06, 2019, 5:49 PM

3) Trump reduced illegal immigrants
Biden: "I would, in fact, make sure that there is, we immediate surge to the border, "

AGAIN I repeat you are not thinking... but feeling that Trump's personal characteristics are what you consider impotant.

I believe in the facts and due to the BIASED MSM before Trump's election, after for 4 years 92% negative news that people like you because you believed them about Trump.
All the while ABC,CBS,NBC gave Proof of the biased MSM that donated $2.6 billion in free advertising for Democrats calling it "NEWS"! Over 32.7 hours of coverage, from 7/29/2020-10/20/20).
Everything You Need to Know About TV Advertising Costs
The average commercial costs $105,000 for a 30 sec. spot.
Therefore in 32.7 hours , two 30 second commercials in a minute or total of 25,440 30- second commercials @ $105,000 or $2,671,200,000 In television advertising value.
Used in NEGATIVE TRUMP coverage!
"What they found was, over the summer, the broadcast networks have continued to pound Donald Trump and his team with the most hostile coverage of a president in TV news history —
92% negative, vs. just 8% positive from July 29 through October 20

 

[pknopp]

Actually some of you are probably decent people but kind of childish, i.e. your opinion of Trump is based on characteristics I agree with you about him... Trump is a dick. A asshole. A bastard. A braggart. A narcissist!
All those things that just like a few successful people like him ARE! The major difference between Trump and the few successful people I knew with Trump's personal characteristics ARE EXECUTIVES that are successful!
AGAIN Trump is all the above negative characteristics BUT I over look them as I'm evidently less concerned about trivial personality characteristics but more concerned that :
1) Trump was like only 2 other presidents...i.e. donated his salary!
2) Created energy independence that was the case for nearly 62 years!
Trump "drill, drill, drill"!
Trump was ONLY President U.S. energy production in 2019 was higher than U.S. energy consumption for the first time in 62 years. Thus, the U.S. attained the long-held goal of “energy independence”The United States Was Energy Independent in 2019 for the First Time Since 1957
BIDEN guarantees that gas prices would rise!
"I guarantee We Are Going To Get Rid of Fossil Fuels” September 06, 2019, 5:49 PM

3) Trump reduced illegal immigrants
Biden: "I would, in fact, make sure that there is, we immediate surge to the border, "

AGAIN I repeat you are not thinking... but feeling that Trump's personal characteristics are what you consider impotant.

View attachment 887829I believe in the facts and due to the BIASED MSM before Trump's election, after for 4 years 92% negative news that people like you because you believed them about Trump.
All the while ABC,CBS,NBC gave Proof of the biased MSM that donated $2.6 billion in free advertising for Democrats calling it "NEWS"! Over 32.7 hours of coverage, from 7/29/2020-10/20/20).
Everything You Need to Know About TV Advertising Costs
The average commercial costs $105,000 for a 30 sec. spot.
Therefore in 32.7 hours , two 30 second commercials in a minute or total of 25,440 30- second commercials @ $105,000 or $2,671,200,000 In television advertising value.
Used in NEGATIVE TRUMP coverage!
"What they found was, over the summer, the broadcast networks have continued to pound Donald Trump and his team with the most hostile coverage of a president in TV news history —
92% negative, vs. just 8% positive from July 29 through October 20

View attachment 887831

People came to Trump complaining about an unjust justice system. Trump called those people SOB's and his supporters cheered and cheered.

His supporters now want us to feel bad for him over a justice system he see's as unjust.

As with everything, it's all about Trump.

 

[tahuyaman]

And yet it is.

No it is not. You don’t know what you’re talking about.

You see the name Trump and you go into broken brain mode.

 

[pknopp]

No it is not. You don’t know what you’re talking about.

You see the name Trump and you go into broken brain mode.

I posted a link with the facts of the situation. Facts be damned to Trump supporters though.

 

[tahuyaman]

I posted a link with the facts of the situation. Facts be damned to Trump supporters though.

You have no grasp of facts. Opinions aren’t facts. Like I said. You see the name Trump and you melt down.

 

[RoshawnMarkwees]

So what? O'Leary just blew the whistle that the real estate market is run by developers who are all committng fraud, along with Wall St. banksters. So Trump should be let off the hook?

Should we let all drug dealers & drug lords off the hook because most of them are getting away with it?

People OD on real estate?

 

[Orangecat]

I'm not a Democrat. You've been brainwashed into believing that anyone that doesn't support Trump must he a Democrat.

Some are simply decent people.

My bad, I should’ve said “useful idiot”.

 

[Orangecat]

Which is why people can appeal.

Trump doesn't deny he did what he was accused of doing.

Keep spinning.

 

[berg80]

So in this case, what I'm trying to figure out, and I'm not pro or con, or I don't care about the politics, who lost money?
Nobody. The bank got paid back the construction finance loan, and a new building was built.

If his assets were over valued, as the evidence in the NY case shows was the case in many instances, then the bank would ask for a higher interest rate against assets of a lower value than Trump represented.

Either Kevin doesn't know that or he isn't as impartial as he claims to be.

I should add that narratives like the one O'Leary is fomenting, that Trump is a victim and not a perpetrator, will be common in certain media circles since we know he has already been found guilty of artificially inflating the value of his assets. Because it is seen as important to keep the rubes believing Don is as innocent as the driven snow.

 

[pknopp]

If his assets were over valued, as the evidence in the NY case shows was the case in many instances, then the bank would ask for a higher interest rate against assets of a lower value than Trump represented.

Either Kevin doesn't know that or he isn't as impartial as he claims to be.

He isn't saying Trump isn't guilty. He is saying many rich people do this to benefit themselves. It's not an excuse but it is what it is.

 

[Resnic]

Cool. Sentence all of them to life in prison.

Ok. So why should they all go to prison for life?

 

[Foxfyre]

Frank helped to hurt a lot of people who played by the rules.

The 2008 housing crash and resulting recession was directly on his, Chris Dodd's, Maxine Waters and many other Democrats' heads who went on national TV to assure the public the Republicans were just spreading propaganda and lies and that there was nothing wrong with Freddie Mac, Fannie Mae or other lending institutions. They had the power, they knew what was happening, and they refused to do anything to stop it and then blamed the Republicans.

 

[CrusaderFrank]

So what? O'Leary just blew the whistle that the real estate market is run by developers who are all committng fraud, along with Wall St. banksters. So Trump should be let off the hook?

Should we let all drug dealers & drug lords off the hook because most of them are getting away with it?

^ Defends Biden’s child, sex and drug trafficking; believes Trump committed fraud without defrauding anyone

 

[berg80]

He isn't saying Trump isn't guilty. He is saying many rich people do this to benefit themselves. It's not an excuse but it is what it is.

That "everybody does it" horseshit is just another way to diminish the severity of Trump's routine fraudulent behavior for the sake of The Following. So they won't feel like they are voting for a outright business fraud when they vote for him.

 

[Harpy Eagle]

So, just wonder if the "everyone does it" defense has worked for anyone beyond the age of 6 or 7?

 

[tahuyaman]

He isn't saying Trump isn't guilty. He is saying many rich people do this to benefit themselves. It's not an excuse but it is what it is.

No, that’s not it.

 

[skews13]

Watch Kevin O'Leary reaction to Trump's New York civil fraud case by the CNN reporter:


"Well, let's leave out Trump for a minute, and let's leave out politics, and just talk about what happens in real estate development anywhere.
So, if you're a developer and you've got a building on the block, anywhere in America, and it's worth, let's say, $500 million, and you want to build a building right beside it, you go to the bank and say, "This building is worth $500 million. I'd like to borrow a construction finance loan against this asset, and I want you to tell me it's worth $500 million too."
And by the way, forget about Trump, every single real estate developer everywhere on earth does this.
They always talk about their asset being worth a lot and the bank says no. That's just the way it is.
So in this case, what I'm trying to figure out, and I'm not pro or con, or I don't care about the politics, who lost money?
Nobody. The bank got paid back the construction finance loan, and a new building was built.

And O'Leary goes on...
If you're going to sue this case and win, you've gotta sue every real estate developer everywhere. This is all they do.
This is what they do all day long every day.
So I don't think this thing will ever survive appeal regardless of what the fine is. This doesn't even make sense.

Now Those of you that aren't aware of this, let's put this into something you can comprehend.
In Dallas, Texas this property has a Zillow Market value of as high as $29.36M...

But the city of Dallas says the "Taxable Value" value for tax appraisal for the city, School,College, Hospital,

View attachment 887755

So as O'Leary states... "Every real estate developer everywhere does this':
Market value:

Real Estate & Homes For Sale - 42610 Homes For Sale | Zillow

Zillow has 42610 homes for sale. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.

www.zillow.com

Start now Home value Zestimate $21,745,900 Zestimate range $15.87M - $29.36M Last 30-day change
Highest Market value of this property: $29,360,000
Tax value of this property: the most: $18,923,660
A 64% of market value...

So in the Trump case using the same ratios Trump has done as O'Leary says..
"every single real estate developer everywhere on earth does this. "

So what you're telling everybody is real estate developers are lying, cheating con artists, that should be audited by the IRS?

 

[Crepitus]

You pissants are trying to outlaw opinions. Due diligence is on the lender, not the borrower.

Opinions?

Dude, don't be retarded.

 

[Crepitus]

There’s nothing illegal about developers negotiating loans with lenders.

Of course there's not.

You said they were all lying about property values.

That is illegal.