Trump family not aware of much going on in their business

[luiza]

Turdy giving us his usual Virtue Signalling act, not having a clue what actually went on .

Count the number of "guesses " and "seems" he uses .

 

[Blaster]

Trumps business was based on stolen money. Nothing to be proud about.

Wrong again Tommy. Why don't you go take a nap?

 

[22lcidw]

A man should understand his business. I suspect that there are many others in the US grifting community who will be watching this with some concern,

The ultimate victim is the people. They cant afford sophisticated schemes like this. Their interests need protecting.

Is that like politicians lying over and over? The Southern border has let several million people in ever since Joe was installed.

 

[Lastamender]

A man should understand his business. I suspect that there are many others in the US grifting community who will be watching this with some concern,

The ultimate victim is the people. They cant afford sophisticated schemes like this. Their interests need protecting.

 

[Tommy Tainant]

Is that like politicians lying over and over? The Southern border has let several million people in ever since Joe was installed.

And what do you think about the topic we are discussing here ?

 

[Kilroy2]

Uh, yeah, that's how the commercial real estate lending process works.

actually their are federal guidelines as its called the code for real estate lending.

IF lender does not follow them as outlined then they can be fined or banned from doing business.

§ 34.62 Real estate lending standards.​

(a) Each national bank shall adopt and maintain written policies that establish appropriate limits and standards for extensions of credit that are secured by liens on or interests in real estate, or that are made for the purpose of financing permanent improvements to real estate.

(b)
(1) Real estate lending policies adopted pursuant to this section must:
(i) Be consistent with safe and sound banking practices;
(ii) Be appropriate to the size of the institution and the nature and scope of its operations; and
(iii) Be reviewed and approved by the bank's board of directors at least annually.
(2) The lending policies must establish:
(i) Loan portfolio diversification standards;
(ii) Prudent underwriting standards, including loan-to-value limits, that are clear and measurable;
(iii) Loan administration procedures for the bank's real estate portfolio; and
(iv) Documentation, approval, and reporting requirements to monitor compliance with the bank's real estate lending policies.

(c) Each national bank must monitor conditions in the real estate market in its lending area to ensure that its real estate lending policies continue to be appropriate for current market conditions.

(d) The real estate lending policies adopted pursuant to this section should reflect consideration of the Interagency Guidelines for Real Estate Lending Policies established by the Federal bank and thrift supervisory agencies.

 

[Rawley]

actually their are federal guidelines as its called the code for real estate lending.

IF lender does not follow them as outlined then they can be fined or banned from doing business.

§ 34.62 Real estate lending standards.​

(a) Each national bank shall adopt and maintain written policies that establish appropriate limits and standards for extensions of credit that are secured by liens on or interests in real estate, or that are made for the purpose of financing permanent improvements to real estate.

(b)
(1) Real estate lending policies adopted pursuant to this section must:
(i) Be consistent with safe and sound banking practices;
(ii) Be appropriate to the size of the institution and the nature and scope of its operations; and
(iii) Be reviewed and approved by the bank's board of directors at least annually.
(2) The lending policies must establish:
(i) Loan portfolio diversification standards;
(ii) Prudent underwriting standards, including loan-to-value limits, that are clear and measurable;
(iii) Loan administration procedures for the bank's real estate portfolio; and
(iv) Documentation, approval, and reporting requirements to monitor compliance with the bank's real estate lending policies.

(c) Each national bank must monitor conditions in the real estate market in its lending area to ensure that its real estate lending policies continue to be appropriate for current market conditions.

(d) The real estate lending policies adopted pursuant to this section should reflect consideration of the Interagency Guidelines for Real Estate Lending Policies established by the Federal bank and thrift supervisory agencies.

OK. But I was commenting on your statement "Lawyer got trump to admit that he submitted paperwork for the sole purpose of inducing the bank to loan money to him." That's how the process works. Have you ever taken out of loan? Did you have to submit paperwork? Did you submit said paperwork just for fun or was it for the purpose of getting the loan?

 

[L.K.Eder]

OK. But I was commenting on your statement "Lawyer got trump to admit that he submitted paperwork for the sole purpose of inducing the bank to loan money to him." That's how the process works. Have you ever taken out of loan? Did you have to submit paperwork? Did you submit said paperwork just for fun or was it for the purpose of getting the loan?

and did you fraudulently lie about sq footage and other relevant facts to get the loan?

 

[CrusaderFrank]

Exonerated ‘Central Park Five’ member wins New York City council seat

Yusef Salaam’s victory comes two decades after DNA used to overturn mistaken conviction in 1989 rape case

www.theguardian.com

It seems that a series of happy accidents put millions in their accounts. If I cock up paperwork it usually costs me money.

In fact I cant ever remember something working out in my favour. I think that Ms James team calculates that banks were undepaid by 168 million in interest payments.

That is a sizeable sum by any calculation. it illustrates that this is not a victimless crime.

I am guessing that they thought that they could get away with it.

I would suggest that any fine has to be for at least that amount plus a premium for putting everybody to that trouble.

I would also suggest that the authorities need to close down the accountants who enabled this fraud. They should not be operating these criminal schemes.

I m going to buy the Art of the Deal where the stable genius explains how to defraud banks.

Is this really the best use of your time?

 

[Kilroy2]

OK. But I was commenting on your statement "Lawyer got trump to admit that he submitted paperwork for the sole purpose of inducing the bank to loan money to him." That's how the process works. Have you ever taken out of loan? Did you have to submit paperwork? Did you submit said paperwork just for fun or was it for the purpose of getting the loan?

It is obvious that someone wants a loan if they ask for one. If someone asked you for a loan. I am sure your first response would be to ask "why do you need me to loan you money?"

If they said, I just want you to loan me money. Would that fly with you or would you need more information.

 

[Lord Long Rod]

A man should understand his business. I suspect that there are many others in the US grifting community who will be watching this with some concern,

The ultimate victim is the people. They cant afford sophisticated schemes like this. Their interests need protecting.

Like how Tommy knows and understands HIS business

 

[Rawley]

It is obvious that someone wants a loan if they ask for one. If someone asked you for a loan. I am sure your first response would be to ask "why do you need me to loan you money?"

If they said, I just want you to loan me money. Would that fly with you or would you need more information.

No idea what point you are trying to make. No one makes unsecured loans of $100,000,000. Collateral is always required - hence the paperwork you reference.

 

[Muhammed]

actually their are federal guidelines

 

[Kilroy2]

Shame that Trump can't say the same thing.

 

[whitehall]

Evidently none of them have a memory of any of that.

The difference is a fishing expedition of a complex organization that borrowed money and paid it back and built things and hired workers and met a payroll and paid taxes as opposed to an alleged criminal conspiracy that sold access to the U.S. government.

 

[frigidweirdo]

Well it clear tRump used the one bank that didn't care. It made money and Trump was a steady customer



They were aware as tRump use one bank exclusively. The one bank that let them get away with inflating net worth to induce lending

"Damning": Legal experts say NY AG got Trump to admit "key fact"

Trump's turn on the stand helped NY AG Letitia James "score points" at trial, experts say.

www.salon.com

Lawyer got trump to admit that he submitted paperwork for the sole purpose of inducing the bank to loan money to him.

He played the I don't remember card and they boom show him the documents he signed.

Thing is, it doesn't matter if the bank didn't care or not. It's still fraud, and it still gives Trump's company an unfair competitive advantage. Surely in capitalism every company should be working on a level playing field.

 

[skye]

The OP seems to know more about Trump than the Trump's family themselves....I wonder why is that

You guessed it ....TDS.

 

[Zincwarrior]

The difference is a fishing expedition of a complex organization that borrowed money and paid it back and built things and hired workers and met a payroll and paid taxes as opposed to an alleged criminal conspiracy that sold access to the U.S. government.

Blah blah blah.

 

[Kilroy2]

Thing is, it doesn't matter if the bank didn't care or not. It's still fraud, and it still gives Trump's company an unfair competitive advantage. Surely in capitalism every company should be working on a level playing field.

That why there are laws! If you break the law then you can be charged., appear in court and judged.

Personal beliefs are irrelevant.

 

[Freedomisneverfree]

Trump borrowed money, met a payroll and built things. Joe Biden never had a real job that wasn't paid by taxpayer money. Where did the millions of dollars come from?

Joe was too busy taking showers with his 15 year old daughter to ever have a real job....