Rep. Jared Moskowitz calls for Palm Beach County to tax Mar-a-Lago at the rate Trump claims it's worth

[Marener]

It is the current value.

Not if you’re speculating on something that may or may not happen in the future.

 

[Man With A Plan]

Where did you determine that? The testimony I provided said they used Trump’s numbers.

The testimony you provided proved that two different appraisers did multiple appraisals for multiple properties. I gave you both of their names. How did you miss that?

 

[Man With A Plan]

Not if you’re speculating on something that may or may not happen in the future.

You know what I found to be the most amazing and appalling thing in that summary by the judge, Marener? It's this statement:

Not if you’re speculating on something that may or may not happen in the future.

"Here, despite the false financial statements, it is undisputed that defendants have made all required payments on
time; the next group of lenders to receive bogus statements might not be so lucky. New York
means business in combating business fraud."

Speaking of "speculating" on something that may or may not happen in the future, Marener! That is Engeron justifying his fraud ruling based on the need to punish Trump NOW in order to protect lenders from future business fraud! So you fine the person who DID pay their loan off with interest on time, in order to protect lenders against someone who might NOT do that in the future? Where did this judge attend law school? That's some of the most absurd reasoning I've ever heard!

 

[Man With A Plan]

I never claimed to have any knowledge about any other such cases.

How could you, Marener...they don't exist! There is no other case where a real estate developer was charged with fraud and fined a huge amount of money over a loan that they repaid on time!

 

[Marener]

The testimony you provided proved that two different appraisers did multiple appraisals for multiple properties. I gave you both of their names. How did you miss that?

If you're referring to Doug Larson and David McArdle, they were employed by Trump, not the bank. The testimony they provided demonstrated that Trump had third party assessments of his property values which he did not use, instead relying on his own much higher assessments.

 

[Marener]

How could you, Marener...they don't exist! There is no other case where a real estate developer was charged with fraud and fined a huge amount of money over a loan that they repaid on time!

Maybe they do, maybe they don't. I don't know.

I don't find it relevant.

 

[Man With A Plan]

It's not. It's the definition of current.

I don't think you understand one of the things appraisers look at when they determine the value of a piece of property, Marener. Highest and best use is something that always needs to be examined. If you've got someone using an acre lot in a prime location as a parking lot you wouldn't value that acre by how much income charging for parking will make you when that lot could be developed and a skyscraper built on it. The highest and best use for that parcel of land would be to develop it. It doesn't really matter what the current use is.

 

[Man With A Plan]

If you're referring to Doug Larson and David McArdle, they were employed by Trump, not the bank. The testimony they provided demonstrated that Trump had third party assessments of his property values which he did not use, instead relying on his own much higher assessments.

Doug Larson is employed by Newmark Valuation & Advisory, Marener. He's an independent appraiser hired to give an independent valuation which he did. David McArdle is employed by Newmark Valuation & Advisory. He also was hired to give an independent valuation on a Trump property which he did. These are not appraisers employed by Trump. If you look at McArdle's testimony he says that he felt pressure to come back with a higher appraised value than what he thought it was. I'm amused by you on the left that somehow think that type of pressure is uncommon or even sinister. It's not! It happens to appraisers all the time but that goes with the job. You put a valuation on property and quite often it's not as high as the seller or the buyer want it to be. That doesn't indicate fraud however and anyone who thinks it does is uneducated about real estate.

 

[Man With A Plan]

Maybe they do, maybe they don't. I don't know.

I don't find it relevant.

You don't think that's relevant?

Maybe they do, maybe they don't. I don't know.

I don't find it relevant.

Equal Protection Clause of the Fourteenth Amendment to the U.S. Constitution!

That clause MAKES it relevant!

 

[Marener]

I don't think you understand one of the things appraisers look at when they determine the value of a piece of property, Marener. Highest and best use is something that always needs to be examined. If you've got someone using an acre lot in a prime location as a parking lot you wouldn't value that acre by how much income charging for parking will make you when that lot could be developed and a skyscraper built on it. The highest and best use for that parcel of land would be to develop it. It doesn't really matter what the current use is.

The highest and best use needs to be legal use.

Maybe the highest an best use for the land would be a casino but gambling isn't legal in the state so you can't consider it.

 

[Marener]

You don't think that's relevant?

Equal Protection Clause of the Fourteenth Amendment to the U.S. Constitution!

That clause MAKES it relevant!

What about the "equal protection clause" makes it relevant?

 

[Marener]

Doug Larson is employed by Newmark Valuation & Advisory, Marener. He's an independent appraiser hired to give an independent valuation which he did. David McArdle is employed by Newmark Valuation & Advisory. He also was hired to give an independent valuation on a Trump property which he did. These are not appraisers employed by Trump. If you look at McArdle's testimony he says that he felt pressure to come back with a higher appraised value than what he thought it was. I'm amused by you on the left that somehow think that type of pressure is uncommon or even sinister. It's not! It happens to appraisers all the time but that goes with the job. You put a valuation on property and quite often it's not as high as the seller or the buyer want it to be. That doesn't indicate fraud however and anyone who thinks it does is uneducated about real estate.

Neither of them were employed by Deutsche Bank.

Their testimony indicates that their independent valuations were increased significantly by McConney, Trump's employees, and did not appear in the statement of financial condition.

What's the point of having an appraiser if the value is whatever the owner wants it to be?

 

[80zephyr]

Not if you’re speculating on something that may or may not happen in the future.

That is the essence of real estate.

 

[Marener]

That is the essence of real estate.

Again, you struggle with the definition of “current”.

 

[80zephyr]

Again, you struggle with the definition of “current”.

Do you have any real estate experience?

 

[Rawley]

I don't trust you. If they trusted him to repay the loan because of his credit history (which is far from pristine), they wouldn't have required the statement of financial condition and a personal guarantee and covenants.

It's SOP. They've seen his disclosure for year. They knew all his properties. THey've been lending to him for years. His history of paying back RE loans was excellent. Their opinion that the Trump company was a low credit risk accurate, They paid back every dime, on time. They testified for him. Wanted to do more business with him

Your ignorance of the process does not equal fraud. This bullshit will be reversed on appeal.

 

[Marener]

Do you have any real estate experience?

No, but I have experience with the word current and the word future.

 

[80zephyr]

No, but I have experience with the word current and the word future.

So, you don't know how real estate is valued. And just because a judge says something does not make it a correct answer.

 

[Marener]

It's SOP. They've seen his disclosure for year. They knew all his properties. THey've been lending to him for years. His history of paying back RE loans was excellent. Their opinion that the Trump company was a low credit risk accurate, They paid back every dime, on time. They testified for him. Wanted to do more business with him

Your ignorance of the process does not equal fraud. This bullshit will be reversed on appeal.

They don’t look eager to me.

Trump's secret, ugly breakup with Deutsche Bank is revealed in new allegations by NY's attorney general

When Donald Trump sold his DC hotel for $375 million this May, Deutsche Bank had the financial equivalent of a gun to his head, court filings reveal.

www.businessinsider.com

 

[Man With A Plan]

What about the "equal protection clause" makes it relevant?

Americans are entitled to equal protection under the law, Marener...which essentially means you can't charge me for a crime that you don't charge anyone else for when we're all doing the same thing. That's selective prosecution and it's a violation of the 8th Amendment.