Explaining Fraud to MAGA

[MarcATL]

The victims are the banks.

Which Republicans have beat into our brains for decades now that gets transferred to the customers, us!

 

[Dagosa]

That might be because more people have forgot more than you will ever know.

Yup….the dullards you’ve ellected from Reagan, to Bush to Trump, are the most forgetful dullards we’ve ever had. That’s why so much criminality is prosecuted during their admins.
So you’re right, these idiots can’t remember shit….from one lie to another. What’s funny is, Trump is so bad, even Bush votes against him…hilarious. You hate eachother.

 

[Curried Goats]

I remember when “conservatives” used to pretend to care about law and order. That was before they decided to prostate themselves to an orange messiah because feelingz.

I keep hearing and reading that Trump’s $450 million fine is bogus because he paid all of his loans back. Let me explain this to you, MAGA, because you’re not all that bright.

When you apply for a loan, the terms of the loan are based on the value the lender assesses on your collateral. If you lie about your collateral, you will pay a lower interest rate on your loan. You monetarily benefit from your lie because you’d otherwise pay a higher interest rate for the loan. It does not matter if you’ve paid back every penny. You have defrauded the bank.

I’ll give you an example. Most of MAGA live in trailer homes (and own brand new trucks). Let’s say you need a loan because your truck is nine months old and is looking a little worn so you decide to detail it. Your trailer home is $20,000 with a $15,000 mortgage. And even though your truck is worth $70,000, you really don’t want to put any more debt on it because, c’mon, get your priorities straight. But you still need $10,000.

So you go to the bank and claim your trailer home isn’t worth $20,000 but instead it’s worth $200,000. You ask for a $10,000 loan from the bank. The bank thinking you have only $15,000 in debt on a $200,000 property happily gives you the $10,000 loan for a low interest rate. However, if the bank knew your property was only worth $20,000 instead of $200,000, you either would have never gotten a loan or the bank would have charged you a much higher interest rate. Because you defrauded the bank, you benefited financially, even if you paid back every penny.

That’s effectively what Trump did. The fine the judge levied on Trump was the estimated value Trump received by committing fraud, plus penalties, plus interest.

If Hillary had done the exact same thing, you’d be baying for blood. But because your Orange Jesus committed fraud, you defend him like your life depends on it.

Exactly right. These dipshits aren't too bright. You have to try to put it in context of things they understand (which honestly ain't much).

In otherwords MAGAts this would be like Hunter arguing in court that he didn't commit fraud on his gun application because he's now stopped smoking crack.

 

[Dagosa]

Exactly right. These dipshits aren't too bright. You have to try to put it in contexts of things they understand (which honestly ain't much).

In otherwords MAGAts this would be like Hunter arguing in court that he didn't commit fraud on his gun application because he's now stopped smoking crack.

Or, at his rallies Trump is claiming he lost the election because the FBI, DOJ and justice system he appointEd conspired to throw the election in Biden’s favor.

MAGAs are really stupid….like Trump claimed Obama wasn’t a citizen while winning his first presidential election under Bush DOJ appointees.

 

[SeaMajor7]

The victims are the banks.

What losses did they suffer?

 

[DBA]

The victims are the banks.

Well in that case let’s roll-back the loans to these “victims” by taking back the multi-millions they made in interest on the ”fraud”. If given the option, do you think they would be on board or would they rather continue being the “victims”? I personally believe quite a few banks would gladly play the “victims” if they could benefit as much as Deutsche Bank.

 

[HeyNorm]

And there is also the fact that claiming “there was no victim” is a non-starter. When you’re pulled over for drunk driving, you may not have wrecked into anyone or anything...but you’re still guilty of drunk driving.

Because when you apply for a drivers license you agree not to drink and drive regardless. If you do, you have agreed to the punishment.

And when you apply for a loan, you agree to the lender to allow due diligence

Geez.

 

[HeyNorm]

Just one thing…I never remember conservatives not being frauds.,

Ironic post of the day. ^^^^^

 

[HeyNorm]

The victims are the banks.

They made tons of money. Victimize me for gods sake!

 

[candycorn]

Because when you apply for a drivers license you agree not to drink and drive regardless. If you do, you have agreed to the punishment.

And when you apply for a loan, you agree to the lender to allow due diligence

Geez.

Any link to where you expressly agree not to drink and drive?

When you get your gun license, do you expressly agree not to kill someone?

Geez.

 

[HeyNorm]

Any link to where you expressly agree not to drink and drive?

When you get your gun license, do you expressly agree not to kill someone?

Geez.

Expressly? Like the part that says when you drive on public roads you agree to obey the laws governing them?

Ever wonder why you have to pass a test when before you are issued a drivers license.

Do you not understand the difference between a right and a privilege?

Desperate much?

 

[Cellblock2429]

I remember when “conservatives” used to pretend to care about law and order. That was before they decided to prostate themselves to an orange messiah because feelingz.

I keep hearing and reading that Trump’s $450 million fine is bogus because he paid all of his loans back. Let me explain this to you, MAGA, because you’re not all that bright.

When you apply for a loan, the terms of the loan are based on the value the lender assesses on your collateral. If you lie about your collateral, you will pay a lower interest rate on your loan. You monetarily benefit from your lie because you’d otherwise pay a higher interest rate for the loan. It does not matter if you’ve paid back every penny. You have defrauded the bank.

I’ll give you an example. Most of MAGA live in trailer homes (and own brand new trucks). Let’s say you need a loan because your truck is nine months old and is looking a little worn so you decide to detail it. Your trailer home is $20,000 with a $15,000 mortgage. And even though your truck is worth $70,000, you really don’t want to put any more debt on it because, c’mon, get your priorities straight. But you still need $10,000.

So you go to the bank and claim your trailer home isn’t worth $20,000 but instead it’s worth $200,000. You ask for a $10,000 loan from the bank. The bank thinking you have only $15,000 in debt on a $200,000 property happily gives you the $10,000 loan for a low interest rate. However, if the bank knew your property was only worth $20,000 instead of $200,000, you either would have never gotten a loan or the bank would have charged you a much higher interest rate. Because you defrauded the bank, you benefited financially, even if you paid back every penny.

That’s effectively what Trump did. The fine the judge levied on Trump was the estimated value Trump received by committing fraud, plus penalties, plus interest.

If Hillary had done the exact same thing, you’d be baying for blood. But because your Orange Jesus committed fraud, you defend him like your life depends on it.

/-----/ "If you lie about your collateral, you will pay a lower interest rate on your loan."
I stopped reading at your first idiotic statement. (I can only assume there are more.)
Valuation is subjective. The banks testified that they did their own due diligence. No lender would take the word of a borrower, you imbecile.

 

[candycorn]

Expressly? Like the part that says when you drive on public roads you agree to obey the laws governing them?

Yes. Expressly where it mentions driving drunk when you get your licenses.

In the mean time here is some homework for you.

What Happens if You Lie on a Loan Application? - Experian

Learn about four possible consequences of lying on a loan application, including getting rejected outright or even facing legal repercussions.

www.experian.com

Ever wonder why you have to pass a test when before you are issued a drivers license.

Yeah, you pass a driving test.

Desperate much?

You're the one defending a guy who has been judged to owe 1/2 a billion dollars. Yep...you sound pretty desperate that your cult leader can't pay his bills.

 

[Cellblock2429]

Oh, and BTW, for the Trump fluffers like MarathonMike who would still vote for Orange Jesus even if he shot people on Fifth Avenue, I personally know the guy who was his banker at Deutsche Bank.

/----/ "I personally know the guy who was his banker at Deutsche Bank."
And my next door neighbor's ex-wife's second cousin from Toledo knows a teller at Chase Manhattan Bank who read about the loan in an interoffice memo. I win.

 

[Cellblock2429]

Hey Nostra, you moran.

Two things.

First, if everyone is speeding and only you get caught, you’re still speeding.

Second, if your trailer home is worth $20,000 and you say to the bank it’s worth $25,000, that’s quite a different thing than saying it’s worth $250,000.

Yoar welcome.

/----/ Second, if your trailer home is worth $20,000 and you say to the bank it’s worth $25,000, that’s quite a different thing than saying it’s worth $250,000.
And who decided the trailer is worth only $20,000? An independent appraiser?
And what if someone pays you $250,000 because Elvis once slept in it before he was a big star?
And, what is the cutoff for your personal opinion of the value of said trailer? 10%, 20% 50%. who decides that?

 

[Nostra]

The victims are the banks.

Funny how none claimed to be victims were happy with the deals, and hoped to do more with Trump.

Moron.

 

[OldFlame]

I tried to make this really simple for you rubes since most of you have never invested in anything more than

1. Your trailer home
2. Your truck - which is really expensive
3. And maybe a meth lab

But it gets much much much more complicated when someone is conducting due diligence on a complex web of assets and entities.

And lying on your application is still fraud.

But you rubes don’t give a shit about law and order.

Somone has watched Breaking Bad one too many times.

 

[Nostra]

Hey Nostra, you moran.

Two things.

First, if everyone is speeding and only you get caught, you’re still speeding.

Second, if your trailer home is worth $20,000 and you say to the bank it’s worth $25,000, that’s quite a different thing than saying it’s worth $250,000.

Yoar welcome.

Learn how to quote people, idiot.

 

[Independentthinker]

I remember when “conservatives” used to pretend to care about law and order. That was before they decided to prostate themselves to an orange messiah because feelingz.

I keep hearing and reading that Trump’s $450 million fine is bogus because he paid all of his loans back. Let me explain this to you, MAGA, because you’re not all that bright.

When you apply for a loan, the terms of the loan are based on the value the lender assesses on your collateral. If you lie about your collateral, you will pay a lower interest rate on your loan. You monetarily benefit from your lie because you’d otherwise pay a higher interest rate for the loan. It does not matter if you’ve paid back every penny. You have defrauded the bank.

I’ll give you an example. Most of MAGA live in trailer homes (and own brand new trucks). Let’s say you need a loan because your truck is nine months old and is looking a little worn so you decide to detail it. Your trailer home is $20,000 with a $15,000 mortgage. And even though your truck is worth $70,000, you really don’t want to put any more debt on it because, c’mon, get your priorities straight. But you still need $10,000.

So you go to the bank and claim your trailer home isn’t worth $20,000 but instead it’s worth $200,000. You ask for a $10,000 loan from the bank. The bank thinking you have only $15,000 in debt on a $200,000 property happily gives you the $10,000 loan for a low interest rate. However, if the bank knew your property was only worth $20,000 instead of $200,000, you either would have never gotten a loan or the bank would have charged you a much higher interest rate. Because you defrauded the bank, you benefited financially, even if you paid back every penny.

That’s effectively what Trump did. The fine the judge levied on Trump was the estimated value Trump received by committing fraud, plus penalties, plus interest.

If Hillary had done the exact same thing, you’d be baying for blood. But because your Orange Jesus committed fraud, you defend him like your life depends on it.

Explaining fraud to MAGA is simple. All we have to do is look at the last 6 years and more of Democratic fraud.

 

[Nostra]

98% of the Trump fluffers’ posts in this branch are “But but but Orange Jesus is my god, yoar a meanie, TDS! derp derp derp, and wah! Wah! Waaaaahhhhh!”

I commend the other 2% for at least trying.

You are now officially unhinged. A thread fail of this magnatude will do that.