Q re how James calculated $350 million “fine” for the victimless crime

[shockedcanadian]

Simple, they knew that was a number he couldn't possibly raise cash for the the bond and thus any appeal.

They also knew the financially illiterate voters would ask "if he is so rich, how come he can't handle this fine"?

It is the stupid leading the stupid.

 

[OhPleaseJustQuit]

Yeah, right…..it will be SOOOO difficult to prove that a $350 million fine for a civil violation that had no victim is excessive.

.

It's a great example of their desperate clinging, both the fine itself and the way the leftist pukes try feverishly to validate it.

Desperate.

.

 

[Rawley]

Yup….a targeted takedown to try to ruin the political opponent who can beat the Democrat. These are nasty, nasty people….worse than the mob.

My hope is the the business community and the politicians get in the ears of the Appeals court and put a stop to it. Otherwise, if this stands, NYC is fucked.

 

[rightwinger]

Yeah, right…..it will be SOOOO difficult to prove that a $350 million fine for a civil violation that had no victim is excessive.

Well, good luck to Crooked Donnie

I believe the amount will be reduced on appeal, but he will still pay Bigly

 

[rightwinger]

My hope is the the business community and the politicians get in the ears of the Appeals court and put a stop to it. Otherwise, if this stands, NYC is fucked.

You mean those who request loans in NYC will be expected to be honest in their claims?

 

[martybegan]

James used the same technique Trump used to calculate that he is worth $10 billion

So if you accuse him of a crime aren't you now accusing her of one?

 

[Rawley]

You mean those who request loans in NYC will be expected to be honest in their claims?

Nope. And you're not stupid, so don't say stupid shit.

 

[surada]

Too easy.....POLITICS

Don't trust Trump's 'impossible' appeal bond claims, attorney general tells judges

Trump's lawyers "supply no documentary evidence that demonstrates precisely what real property they offered," to potential bond insurers, the AG's office wrote.

www.cnbc.com

 

[OhPleaseJustQuit]

Nope. And you're not stupid, so don't say stupid shit.

.

Like talking to a brick wall, dear. He/she/it gets paid for saying stupid shit.

.

 

[Rawley]

Don't trust Trump's 'impossible' appeal bond claims, attorney general tells judges

Trump's lawyers "supply no documentary evidence that demonstrates precisely what real property they offered," to potential bond insurers, the AG's office wrote.

www.cnbc.com

Bond insurers do not take real property . Fat Tish is an ignorant twatwaffle

 

[Meister]

Don't trust Trump's 'impossible' appeal bond claims, attorney general tells judges

Trump's lawyers "supply no documentary evidence that demonstrates precisely what real property they offered," to potential bond insurers, the AG's office wrote.

www.cnbc.com

Don't discard the obvious.

 

[rightwinger]

Nope. And you're not stupid, so don't say stupid shit.

You are the one complaining about Trump being expected to be honest

I have always been completely honest in my Real Estate purchases in terms of my income, assets and ability to pay.

Why shouldn’t Trump?

 

[Rawley]

You are the one complaining about Trump being expected to be honest

Don't remember complaining about that, but OK

I have always been completely honest in my Real Estate purchases in terms of my income, assets and ability to pay.

Why shouldn’t Trump?

You've provided banks with valuation of assets worth tens/hundreds millions of dollars when you were applying for two billion dollars in loans? Why do I doubt this.

 

[para bellum]

So….that’s how I arrived at my demand of $2760. How did James come up with $350 million for a civil violation in which nobody was hurt, and nobody was even a victim? I’m curious.

Start by understanding that this was completely out of Engoron's league.

There were two basic components. Interest and profits. Trump got a lower interest rate by providing a personal guarantee on the loans. Absent his personal guarantee the interest rate would have been higher. The lenders didn't care about Trump's SFC's, they do their own due diligence. They just wanted a Billionaire's personal guarantee.

So.

The judge calculated the loan amount based on the interest rate Trump might have got with no personal guarantee. He ran the loan out to maturity and calculated the total interest. He subtracted from that amount the actual interest that Trump paid the lender, and fined Trump the difference.

Then he went to profits. He took the proceeds from the sale of the properties and subtracted the amount of the mortgage. He called that profits, and added it to the other fine for a total.

Then he took a statutory 9% and applied that rate to all the totals based on when they were accrued , as "interest on ill-gotten gains".

It is just about the dumbest and most superficial financial calculation in history, it double counts interest and sometimes triple counts it. It ignores the tens of millions of Trump's own equity that was invested in the projects, and it makes a bunch of other elementary mistakes that you can't do when you are doing a disgorgement. And they reached back to 2011 transactions, even though the appellate court had already ruled in June 2023 that they could only go back to 2016.

None of it will stand up to scrutiny because there was no scrutiny put into it. I think this was Engoron's first try at a disgorgement- this case should have been heard in the Commercial Division where they know how to do all this stuff.

But that would have afforded Trump due process, and James couldn't allow that. She needed Engoron's kangaroo court.

When Trump filed the notice of appeal and the first motion to stay, it was just a 2 page form with one paragraph requesting the stay. The appeals court stayed the non-monetary parts of the judgement but left the fine alone.

This last filing from Trump is 29 pages of well-researched and solid case law, plus the affidavits from the bond brokers, and it is wicked.

The response from the AG's office is a two-page pleading that you can basically sum up as "No fair!"

We will get an answer by next Monday.

 

[Concerned American]

View attachment 920060

Especially since there were no damages.

 

[Moonglow]

Did she just draw the number out of her hat? it seems to me that the number must be be based on some sort of calculation.

For example, I suffered a relatively minor injury due to a company’s negligence. Their insurance agent wanted me to come up with a dollar figure to settle the matter. So, I did a little research and found it is customary to pay the actual expenses, plus a multiple of the amount (1 to 5x, depending on pain, inconvenience, etc.

So say my actual out-of-pocket, after insurance, was $1380, including gas and mileage, and I asked for 1x that since the pain was pretty mild, and made a demand for $2760. (The insurance guy was relieved I was so reasonable.)

So….that’s how I arrived at my demand of $2760. How did James come up with $350 million for a civil violation in which nobody was hurt, and nobody was even a victim? I’m curious.

You sold out too low.

 

[The Duke]

WaPo is behind a paywall, and I don’t give my money to left-wing propoganda rags. How about summarizing?

Wasn't for me, so... And no, I don't subscribe.

Here it is so everyone can read it.

Loading…

archive.is

 

[Lisa558]

Here it is so everyone can read it.

Loading…

archive.is

Interesting. The government decided that the people with whom he did business “lost” $355 million, and brought a case on their behalf. But those people did not lose any money…..they made a fortune and were thrilled to land the deal. They not only did not sue, but testified on behalf of Trump!

There’s still no victim.

 

[sealybobo]

Did she just draw the number out of her hat? it seems to me that the number must be be based on some sort of calculation.

For example, I suffered a relatively minor injury due to a company’s negligence. Their insurance agent wanted me to come up with a dollar figure to settle the matter. So, I did a little research and found it is customary to pay the actual expenses, plus a multiple of the amount (1 to 5x, depending on pain, inconvenience, etc.

So say my actual out-of-pocket, after insurance, was $1380, including gas and mileage, and I asked for 1x that since the pain was pretty mild, and made a demand for $2760. (The insurance guy was relieved I was so reasonable.)

So….that’s how I arrived at my demand of $2760. How did James come up with $350 million for a civil violation in which nobody was hurt, and nobody was even a victim? I’m curious.

Loans that go to liars don't go to more honest business people. Shame on you calling it a victimless crime. Money is not infinite. The bank decides who they will give loans to. Did a Farmer not get a loan because Trump lied? Probably. But you won't see it that way.

Let's call Hunter's crimes victimless.

 

[sealybobo]

So?

Trump will have to prove fines were excessive and not in accordance with existing law

I wish Crooked Donnie luck

What happened to the days when Trump was running for president and told everyone he wouldn't take money he had his own money? Now he's taking everyone's money. The Trump crime family has taken over the RNC.

MTG is the ape. LOL