OldFlame
Diamond Member
- Aug 5, 2020
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Why would the bank loan millions solely on the word of the applicant? Did they not do an independent appraisal? IOW, it almost literally doesn't matter WHAT number the applicant puts on the paper. Do this, go into a pawn shop and tell the clerk that you want to borrow $10,000 and you're putting up your grandfather's Rolex watch as collateral, but he doesn't need to actually see it first. Will you walk out with $10,000?
These people are so incredibly ignorant and have no clue what all would be involved in a deal as big as the one Trump did with Duetsche Bank, they also have no clue what regulations and laws banks must strictly follow in addition to their own internal risk policies. What they ponder on is sheer nonsense and shows their complete ignorance on the topic.