Explaining Fraud to MAGA

[Lastamender]

You’re drooling again….

Get your cup and catch some.

 

[Dagosa]

The "stupid" is all yours.

Really ? What is the deep state ?

The "stupid" is all yours.

Thats it ? You don’t have an answer ? Too difficult for the made up shit you bozos spew ?

 

[BluesLegend]

Hell the Dem party is a fraud.

 

[Dagosa]

Hell the Dem party is a fraud.

Why is that ?

 

[OKTexas]

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.

Everything you said after the quote below is pure commie bullshit.

When you apply for a loan, the terms of the loan are based on the value the lender assesses on your collateral.

You got the bolded area exactly right, the terms of the loan are based on the assessed value the LENDER places on your collateral. Lenders are required by the FDIC to get independent appraisals, they don't take your word for shit. If the lender didn't do that, it's on them, not the borrower.

Add to that the fact that James is using a bastardized interpretation of a law that was never intended for this type of prosecution. It was intended to keep convicted criminals from keeping the proceeds of their crimes. That law has never been used the way James did, and the judgement will be overturned on appeal.

.

 

[Lastamender]

Really ? What is the deep state ?

Thats it ? You don’t have an answer ? Too difficult for the made up shit you bozos spew ?

Entrenched politicians and bureaucrats. Intelligence officials. Big tech, Big Pharma you name it. Don't forget Obama.

 

[john doe 101]

No basis for civil fraud, totally bogus case that would never have seen the light of day if we had a REAL justice system. Fail. Next.

You dismissing it doesn't matter, boy

 

[Clipper]

One problem with your fantasy, Simp……the bank does its own due diligence. No bank anywhere, in any deal, takes the word of the borrower on the value of a property……especially when tens of millions of dollars are involved.

But at least you got to expose your terminal TDS again.

Tell it to the Judge who found him guilty & add a few tears for good measure.

Trump has about as much use for you orange man-ape fanatics that he has for a used rubber left over from his N.Y.C. nightclub slumming days. But keep thinking otherwise if it makes you feel better.

 

[MarathonMike]

You dismissing it doesn't matter, boy

It's a frivolous case that would have been thrown out if we had a true justice system. Maybe this seems normal for your country.

 

[bigrebnc1775]

No basis for civil fraud, totally bogus case that would never have seen the light of day if we had a REAL justice system. Fail. Next.

Perfect response

 

[bigrebnc1775]

Tell it to the Judge who found him guilty & add a few tears for good measure.

Trump has about as much use for you orange man-ape fanatics that he has for a used rubber left over from his N.Y.C. nightclub slumming days. But keep thinking otherwise if it makes you feel better.

The appeals court is going to spank the judge

 

[OKTexas]

ROFLMAO Hell you can't follow the rules any better than that bitch AG.

.

 

[Dagosa]

Entrenched politicians and bureaucrats. Intelligence officials. Big tech, Big Pharma you name it. Don't forget Obama.

Oh, everything you diss is deep state,,,.entrenched politicians, like Trump who wants to stay in office forever ..
and anyone intelligent. Got it. What about all medical facilities, all education facilities, govt agencies and all corporations….they all deep state ?

 

[Lastamender]

Oh, everything you diss is deep state,,,.entrenched politicians, like Trump who wants to stay in office forever ..
and anyone intelligent. Got it. What about all medical facilities, all education facilities, govt agencies and all corporations….they all deep state ?

Trump is not a politician.

And those things you named are infiltrated and do what they are told to. The people that don't are fired or worse.

 

[john doe 101]

It's a frivolous case that would have been thrown out if we had a true justice system. Maybe this seems normal for your country.

That's not what the court said. Again get it through your thick skull. What you think should happen doesnt matter.

 

[Mac1958]

That's not what the court said. Again get it through your thick skull. What you think should happen doesnt matter.

Suddenly they're okay with fraud and lying, with their excuse being "everybody does it".

The party of morality.

 

[Dagosa]

Trump is not a politician.

Ha ha…
Thats a fucking joke. He’s been vying for elected office….are you that ignorant ? And, he represents the worse in any politician. He’s continually lying to literally get votes, and try to intimidate, steal and fraud to gain any advantage in can to get elected for power and money.
Dufus, that’s a professional politician . You’re trumps minion cult follower.

 

[HeyNorm]

Toro probably couldn't get a payday loan.

That do have some standards

 

[Toro]

I haven’t checked in on this branch in a few days. Is MAGA still whoring for their criminal fraudster orange messiah?

Haha dumb question. Of course they are!

 

[Hollie]

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.

You did a thorough trashing of your tedious lecturing.

You wrote:

"...terms of the loan are based on the value the lender assesses on your collateral"

Correct. It is ultimately the responsibility of the lender to assess the viability of the loan.

As we understand it, the lenders were repaid in full and all elements of the loan contract were met.