The 800 MILLION pound Gorilla in the Letita James debacle

[Leo123]

Lenders always get their own.
Trust me the expansion of collateral was engineered from inside the loan agency. COMMISION $$$$.

No, no, no. Banks have to use Appraisal Management companies today for all federally related loans. (Those going to Fannie, FHA, Freddie). 'Hard money' lenders can hire their own appraisers.

 

[justoffal]

No, no, no. Banks have to use Appraisal Management companies today for all federally related loans. (Those going to Fannie, FHA, Freddie). 'Hard money' lenders can hire their own appraisers.

Trump doesn't deal with Fannie or Freddie.

 

[Leo123]

I know both types. There are those that seek out proper comps and those that fabricate value. I have yet to see consequences for it.

Underwriters hire other appraisers to do reviews. I (being a licensed appraiser for 25 years) have done many. It's easy to see an over valued opinion of value when you can find comparables closer and better than the ones provided on the report.

 

[Leo123]

Trump doesn't deal with Fannie or Freddie.

So, it's between him and the bank and the bank loaned him the money. What's the problem?

 

[lennypartiv]

The hatred factor is so thick that confirmation bias has assumed the helm. There can be no useful conversations.

The hatred is bigger than you imply. The Deep State is out to get Trump. They won't stop until they get him.

 

[BackAgain]

I think you've underestimated how prepared she is. She's gonna hand tRump his ass and then use this prosecution to launch an investigation into real estate valuation nation wide and start a huge RICO case that will upend the whole industry.

Crapitus thinks that obtaining a civil judgment in front of a clearly biased and unqualified jurist and a jury in a deep blue wasteland like NYC is somehow a credit to the unbelievable hack, AG James.

It is not.

The appellate reversal will crush her and oh so many of her mindless libturd buddies.

 

[Leo123]

Crapitus thinks that obtaining a civil judgment in front of a clearly biased and unqualified jurist and a jury in a deep blue wasteland like NYC is somehow a credit to the unbelievable hack, AG James.

It is not.

The appellate reversal will crush her and oh so many of her mindless libturd buddies.

Creepy hates Trump. Hate warps thinking.

 

[justoffal]

So, it's between him and the bank and the bank loaned him the money. What's the problem?

The problem is that if they find him guilty of anything they can't do it unilaterally without also going after the bank officers.

This is where the rubber meets the road. This is where the court system gets its head pushed in by the real powers of the economy.

 

[justoffal]

Crapitus thinks that obtaining a civil judgment in front of a clearly biased and unqualified jurist and a jury in a deep blue wasteland like NYC is somehow a credit to the unbelievable hack, AG James.

It is not.

The appellate reversal will crush her and oh so many of her mindless libturd buddies.

The financiers and the stone giants of money traffic are just behind that curtain.

 

[JoeB131]

Actually I seriously doubt it. Real estate is notoriously difficult either to control or to gauge. It was the major component in the tripwire that brought on the 2008 global money/wealth correction. Despite that catastrophic event very few of any of learned lessons have been heeded since. We're not talking about individual companies here. Don't forget loans on that scale are not unilateral. Lenders do not simply throw money out the window.

Oh, I agree, Duetschbank was lied to and didn't care about it. The only reason why Trump went to the Germans was because American banks were wise to his nonsense and stopped loaning him money after 11 bankruptcies.

Again, everyone does it is not a defense. Trump is going down because he broke the law. He probably could have resolved this quietly, but the guy was to arrogant to do that. So down he goes, and his businesses with him.

Next stop, jail for that mother fucker.

 

[BackAgain]

Oh, I agree, Duetschbank was lied to and didn't care about it. The only reason why Trump went to the Germans was because American banks were wise to his nonsense and stopped loaning him money after 11 bankruptcies.

Again, everyone does it is not a defense. Trump is going down because he broke the law. He probably could have resolved this quietly, but the guy was to arrogant to do that. So down he goes, and his businesses with him.

Next stop, jail for that mother fucker.

Letitia is trying a ridiculous civil case. So Trump won’t be “going down.” And the judgment she obtains will get reversed.

Ho hum.

 

[Crepitus]

This thing is at the very heart of the 2008 global money/wealth correction. Trump's overleveraged loans strongly resemble the high end real estate bundles that were packaged as "derivatives" and sold to the international market in the ten year run up to the crash. Enter the credit default swaps....another name for.." we don't got da money"...and you have the perfect recipe for financial cataclysm. It is the very life blood of international commerce even now....lessons have not been learned. This is why I doubt that this can be done effectively; But David did sling that stone once upon a time and Goliath did fall.

I'm certainly no expert on "high finance" so I really can't argue with you on that.

I am however an expert on type A personalities and she is one for sure.

 

[justoffal]

I'm certainly no expert on "high finance" so I really can't argue with you on that.

I am however an expert on type A personalities and she is one for sure.

Likewise....certainly not a high finance expert. I did spend about two years reading everything I could get my hands on about the 2008 money correction. It was triggered by a cascading accrual of worthless assets that were continuously upsold to mask their worthless ess. This was all based on false value. They're still doing it today. Not hard to understand once it is pointed out.

 

[jwoodie]

Again, everyone does it is not a defense. Trump is going down because he broke the law. He probably could have resolved this quietly, but the guy was to arrogant to do that. So down he goes, and his businesses with him.

Next stop, jail for that mother fucker.

Dodd and Frank should have gone to jail, not Trump.

 

[JoeB131]

Dodd and Frank should have gone to jail, not Trump.

for what, passing bad laws that most of their colleagues agreed with and Republican Presidents signed?

At the end of the day, no matter what law gets passed, someone who is unethical will try to break it.

That's why you need to punish them when they do.

 

[Kilroy2]

The operative word is BRAG. And who, exactly, are these "other persons?" Did they lose money because of something Trump said?

Well in the case in NY he brags about his worth. E Carroll in another case won that case against Trump and he owes her money based on the judgment of defamation. Yes he has appealed that case.

Trump does not want to pay. E Carroll and her lawyers will say Trump is on record with how much he is worth. So he should easily be able to pay.

'I've had a lot of cash,' Trump says about his net worth

Get updates from the trial of former President Trump in the civil fraud suit brought by New York Attorney General Letitia James.

abcnews.go.com

Donald Trump can expect huge payout In E. Jean Carroll defamation case

Trump wrongly accused a women he sexually assaulted of trying to sell a book. A jury will decide the damages next month.

www.newsweek.com

 

[Freedomisneverfree]

Someone is going to get her when she is alone and grab her hair and make mincemeat out of her face on the sidewalk. Just sayin....

 

[Kilroy2]

Doesn’t the case prove he’s not worth that much money though?

Well the NY case which is about overvaluation and that is the prosecution position in the case. Trump on the other hand will say that he has a lot of money and his worth is very high which is his defense. So in the NY case he can brag about his net worth and how much cash he has.

In the E Carroll case where they want money from Trump, bragging about how much money you have can be used against him in this case.

 

[jknowgood]

you got it backwards, cp , these forms are signed "true to the best of my knowlege under penalty of perjury." or something like that.

the rules on "perjury" are pretty clear

Not really plenty on here still say Clinton shouldn't of been impeached for perjury. Because he lied about a blowjob. Rules for thee, but not for me.

 

[Couchpotato]

Well in the case in NY he brags about his worth. E Carroll in another case won that case against Trump and he owes her money based on the judgment of defamation. Yes he has appealed that case.

Trump does not want to pay. E Carroll and her lawyers will say Trump is on record with how much he is worth. So he should easily be able to pay.

'I've had a lot of cash,' Trump says about his net worth

Get updates from the trial of former President Trump in the civil fraud suit brought by New York Attorney General Letitia James.

abcnews.go.com

Donald Trump can expect huge payout In E. Jean Carroll defamation case

Trump wrongly accused a women he sexually assaulted of trying to sell a book. A jury will decide the damages next month.

www.newsweek.com

you got it backwards, cp , these forms are signed "true to the best of my knowlege under penalty of perjury." or something like that.

the rules on "perjury" are pretty clear

And Trump or who we you tried to prosecute on something like this will just say they thought the real estate was worth x # of dollars. The only reason Trump’s valuation of Mara Lago seems so high is because the judge’s valuation is ridiculously low. Is Trump charged with perjury anyway?