‘Mr. Wonderful’ slams Trump ruling: ‘You might as well find guilty every real estate developer on Earth’

[EvilCat Breath]

I keep reading this claim that the New York real estate market will be destroyed by this ruling but see no justification for this claim.

In simple terms the law that Trump broke repeatedly from 2011 to 2021 forbid knowingly exaggerating the value of assets used as collateral for bank loans. All states including New York have criminal and civil laws against lying on bank loan applications. The DA chose to charge Trump will violations of civil statutes rather than criminal statues, probably because the bar for establishing criminal intent is much higher with criminal statues.

When the well-connected and powerful break the law to get more money and lower rates than they are entitled to, it reduces resources available to those who follow the law as most businesses do. Thus, the claim, that no one is damaged by these activities is completely false.

Enforcing the law actually benefits most businesses because most businesses attempt to operate in a lawful manner.

Because there is no victim, the public is subjected to whatever petty bureaucrat wants to grind an axe. The prosecutor and judge determined that Trump received interest rates he wasn't entitled to. Not a single lender made that claim. Not a single lender stepped forward to ask for reimbursement for losses out of the money demanded from Trump. Not a single lender shows any loss.

This is the reason for the real estate investors and lenders withdrawing from the New York market. It has become politicized and untrustworthy. If this works, the temptation to do it again will be overpowering.

 

[frigidweirdo]

Hoping some shit falls off?? Biden lied about not knowing any of his sons business, when he had actually met his business parteners as well as sharing AirForce 2 with Hunter on his business trips.. JOE Bidens name came up because of the emails in the laptop , which is real. The multiple shell companies shell companies are real... ALL of which needs looking into further.
No one is saying guilty before proven innocent... it just needs a day in court because a compromised president is serious.... as opposed to some civil issue with Lenders.

You dont seem to see the seriousness of the precidence set, if the Government is allowed to persecute private citizens, by looking for crimes before there is a complaint. They can simply say, someone has a dodgy reputation and then investigate to find a crime. This kind of thing is done in Russia quite often to political opponents of the regeime.

No one is saying guilty until proven innocent, except all the Trump supporters....

I see the seriousness of all of this. This is why I tell people ALL THE TIME that the system is rotten and corrupt and it should be changed to Proportional Representation.

 

[EvilCat Breath]

The banks said they believed Trump’s valuations were largely accurate and used them to determine whether to make the loan with favorable rates.

They have done business with Trump for decades. They knew exactly how much those properties are worth.

 

[justoffal]

No, Biden should that make a small part in his campaign to tackle the homeless crisis.

Yes

 

[JoeB131]

Because there is no victim, the public is subjected to whatever petty bureaucrat wants to grind an axe. The prosecutor and judge determined that Trump received interest rates he wasn't entitled to. Not a single lender made that claim. Not a single lender stepped forward to ask for reimbursement for losses out of the money demanded from Trump. Not a single lender shows any loss.

This is the reason for the real estate investors and lenders withdrawing from the New York market. It has become politicized and untrustworthy. If this works, the temptation to do it again will be overpowering.

Actually, despite Covid making office space less necessary (as many of us work from home now) commercial real estate in NYC is still selling at a premium.

Other real estate developers know not to lie like Trump did.

 

[Nostra]

Actually, despite Covid making office space less necessary (as many of us work from home now) commercial real estate in NYC is still selling at a premium.

Other real estate developers know not to lie like Trump did.

A premium?

Are you ever not a lying sack of vermin shit?

https://www.propertyshark.com/mason/market-trends/commercial/nyc/manhattan

US office real estate prices headed for ‘severe crash,’ investors say

Around two-thirds of those who responded to Bloomberg News survey said they believe the commercial real estate market will recover only after a crash.

nypost.com

 

[Flopper]

They have done business with Trump for decades. They knew exactly how much those properties are worth.

In the trial it came out that Deutsche Bank in processing a large loan application from Trump listed 4.5 billion in assets. They cut it to 2.1 billion. They knew he was a pathologically liar that lied about his assets, completion dates, occupancy rates, and his business partners.

 

[EvilCat Breath]

In the trial it came out that Deutsche Bank in processing a large loan application from Trump listed 4.5 billion in assets. They cut it 2.1 billion. They knew he was a pathologically liar that lied about his assets, completion dates, occupancy rates, and his business partners.

That particular bank had expert witnesses to testify as to bank protocols. The judge disallowed them.

 

[Nostra]

In the trial it came out that Deutsche Bank in processing a large loan application from Trump listed 4.5 billion in assets. They cut it to 2.1 billion. They knew he was a pathologically liar that lied about his assets, completion dates, occupancy rates, and his business partners.

Wait, what? You mean the bank did their due diligence?

Libtard clowns here claim the banks just went with whatever figures the Trump companies gave them. Are you calling all of them liars?

 

[Jarlaxle]

The hack judge also determined that 20 acres of prime waterfront property in Palm Beach was worth only $18 million when a single lot in the area went for much more than that, and local experts put the value un the hundreds of millions.

Directly from an attorney specializing in Florida real estate, Mar-A-Lago "might be a ten-figure property."

 

[Jarlaxle]

That particular bank had expert witnesses to testify as to bank protocols. The judge disallowed them.

That's how things are done at show trials.

 

[Flopper]

Directly from an attorney specializing in Florida real estate, Mar-A-Lago "might be a ten-figure property."

Trump made that point when he claimed the property was worth 1 to 1.5 billion once it is turned into a residential development. The law states and banks expect valuations to be based on current market values, not what the property might be worth someday after it is developed.

When banks look at asset values in deciding to grant loans, they are not looking for rosy projections but rather the market value of assets so if shit happens, Trump goes to jail, or the properties are not developed and the banks have to recoup their losses from those assets, the funds from liquidating those assets will cover the loans.

 

[Nostra]

Trump made that point when he claimed the property was worth 1 to 1.5 billion once it is turned into a residential development. The law states and banks expect valuations to be based on current market values, not what the property might be worth someday after it is developed.

When banks look at asset values in deciding to grant loans, they are not looking for rosy projections but rather the market value of assets so if shit happens, Trump goes to jail, or the properties are not developed and the banks have to recoup their losses from those assets, the funds from liquidating those assets will cover the loans.

Hey stupid, the banks did their due diligence, provided loans on their valuations, and all loans were paid in full and on time.

So explain the crime here.

 

[Flopper]

Hey stupid, the banks did their due diligence, provided loans on their valuations, and all loans were paid in full and on time.

So explain the crime here.

Well good for them however, that is totally irrelevant as to whether Trump violated the law or not.

Most of Trump's loans are business loans, not mortgage loans. In business loans, the bank looks at the Financial State of the Business which is a listing of assets and liabilities included with the loan application. Since determining the actual market value of dozens of assets in different states and different countries as well as various liabilities those assets carry is not practical. The bank's due diligent is to investigate a small number of key assets to determine how well the applicant is following the law. If the applicant is exaggerating market value then the bank will reduce the value of assets according. As one banker testified, we have to rely on the honesty of our customers and the enforcement of state laws.

 

[skye]

That tells you a lot about all this ruling against President Trump.....

fuck NY