Law Trump can’t get a loan to pay $464 million bond in fraud case, his lawyers say

spamking said:
Not that I really care one way or the other. I was just asking about how it seemed folks were blasting Trump's valuation and giving Stewart a pass when I was under the impression the basis for the charges against Trump used the same valuation method from a NY assessor.
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Stewart sold a home. Regardless of assessed value, you can sell a home for whatever someone will pay for it.

Trump, on the other hand, grossly overinflated the value of his properties to secure loans from the bank.

It's apples and oranges.

As I said to someone else, if you think Trump did nothing wrong, create a Profit and Loss financial statement and over inflate what you made for the year, let's say you make it look like you netted $20 million in a year as an example. Now take that down to the bank and try and procure a $50 million dollar loan based on the fraudulent statement. It will land you in jail, and rightfully so. Trump, however, walks free with a fine.
 
spamking said:
Not that I really care one way or the other. I was just asking about how it seemed folks were blasting Trump's valuation and giving Stewart a pass when I was under the impression the basis for the charges against Trump used the same valuation method from a NY assessor.
Click to expand...
1. Stewart was just selling a property, not inflating its value to get a loan at a lower interest rate than he would have otherwise paid.
2. There is no requirement whatsoever in any way shape or form that the purchase price have any connection with the assessed value according to the municipality with taxing jurisdiction.
3. This has been explained already ITT several times; the basis of the charges against Trump are that he lied and people who worked for him lied at his direction. And that's why Alan Weisselberg is serving time for perjury while Trump walks free, incidentally--fucking disgusting.
 
It's not shocking the MAGAts don't know the difference between what Jon Stewart did and what trump did. It'd almost be comical if you didn't feel sorry for their dumbasses. You kinda just have to pat them on the head and tustle their hair like a 5 year old. "It sure is buddy, it sure is."
 
Dr Curtis Love said:
It's not shocking the MAGAts don't know the difference between what Jon Stewart did and what trump did. It'd almost be comical if you didn't feel sorry for their dumbasses. You kinda just have to pat them on the head and tustle their hair like a 5 year old. "It sure is buddy, it sure is."
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They do nothing but disinformate and misinformate. It's unpresidented, I hearby declare. Covfefe.
 
helltoupee said:
Stewart sold a home. Regardless of assessed value, you can sell a home for whatever someone will pay for it.

Trump, on the other hand, grossly overinflated the value of his properties to secure loans from the bank.

It's apples and oranges.

As I said to someone else, if you think Trump did nothing wrong, create a Profit and Loss financial statement and over inflate what you made for the year, let's say you make it look like you netted $20 million in a year as an example. Now take that down to the bank and try and procure a $50 million dollar loan based on the fraudulent statement. It will land you in jail, and rightfully so. Trump, however, walks free with a fine.
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Fair enough . . . I don't guess I was aware that I could tell a bank what my property was worth to get more money via a loan.
 
Andy Capp said:
1. Stewart was just selling a property, not inflating its value to get a loan at a lower interest rate than he would have otherwise paid.
2. There is no requirement whatsoever in any way shape or form that the purchase price have any connection with the assessed value according to the municipality with taxing jurisdiction.
3. This has been explained already ITT several times; the basis of the charges against Trump are that he lied and people who worked for him lied at his direction. And that's why Alan Weisselberg is serving time for perjury while Trump walks free, incidentally--fucking disgusting.
Click to expand...

I understand that folks often sell a property for more than it's worth . . . heck, I hope that happens when we sell our place.

The point I think many are trying to make is that if it sold for so much more it should've been taxed at a much higher rate.
 
Dr Curtis Love said:
It's not shocking the MAGAts don't know the difference between what Jon Stewart did and what trump did. It'd almost be comical if you didn't feel sorry for their dumbasses. You kinda just have to pat them on the head and tustle their hair like a 5 year old. "It sure is buddy, it sure is."
Click to expand...
<Neil01>
 
spamking said:
Not that I really care one way or the other. I was just asking about how it seemed folks were blasting Trump's valuation and giving Stewart a pass when I was under the impression the basis for the charges against Trump used the same valuation method from a NY assessor.
Click to expand...
Trump was charged for a pattern of inflating figures, misleading statements, and outright lying about multiple properties as collateral to secure loans. Not an instance of listing a home for sale at a price higher than its taxable value.

So like, if John Stewart had said his property was 3 times its actual size, and that it was beachfront instead of next to a strip mall laundromat, and that it was worth 10 times more than its appraised value, and then repeated the same kind of shit for dozens of properties, and then put it on a loan application and signed it, you'd be right. Very similar.
 
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sickc0d3r said:
Trump was charged for a pattern of inflating figures, misleading statements, and outright lying about multiple properties as collateral to secure loans. Not an instance of listing a home for sale at a price higher than it's taxable value.

So like, if John Stewart had said his property was 3 times it's actual size, and that it was beachfront instead of next to a strip mall laundry mat, and that it was worth 10 times more than it's appraised value, and then repeated the same kind of shit for dozens of properties, and then put it on a loan application and signed it, you'd be right. Very similar.
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Okay . . . I was under the impression that assessed values were updated regularly in NY like here in Oklahoma (at least in my county). And I've never been able to set the value of something I was looking to get a loan for . . . or use as collateral without someone else confirming.

But I'm coming into this thread on the back end and it looks like I've asked stuff that already been addressed. I'll move on. :)
 
spamking said:
I understand that folks often sell a property for more than it's worth . . . heck, I hope that happens when we sell our place.

The point I think many are trying to make is that if it sold for so much more it should've been taxed at a much higher rate.
Click to expand...
That's what capital gains taxes should be for, don't you think? I mean, it's right there in the fucking name.

So, no, the comparison is utterly preposterous.
 
spamking said:
Okay . . . I was under the impression that assessed values were updated regularly in NY like here in Oklahoma (at least in my county). And I've never been able to set the value of something I was looking to get a loan for . . . or use as collateral without someone else confirming.

But I'm coming into this thread on the back end and it looks like I've asked stuff that already been addressed. I'll move on. :)
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Billionaires live by different rules than us, my friend. And if it wasn’t some blowhard like Trump, he probably would’ve been fine. But, the Stormy case yielding results put eyes on his finances, and those eyes were looking for reasons to nail his ass. I’m sure none of the uber rich real estate types in NY want that kind of scrutiny, but if they invite it they’ll get the same treatment.
 
Dr Curtis Love said:
It's not shocking the MAGAts don't know the difference between what Jon Stewart did and what trump did. It'd almost be comical if you didn't feel sorry for their dumbasses. You kinda just have to pat them on the head and tustle their hair like a 5 year old. "It sure is buddy, it sure is."
Click to expand...
Well, you have to admit, it's kind of shocking. These same people didn't appear to understand the difference between a fine and bail. They get dumber with time, apparently.
 
Andy Capp said:
That's what capital gains taxes should be for, don't you think? I mean, it's right there in the fucking name.

So, no, the comparison is utterly preposterous.
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I'm sure he has a creative accountant and avoided paying that too.
 
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