Quote (InsaneBobb @ Feb 3 2024 05:21pm)

That quote says nothing whatsoever about the bank relying on Trump's provided information to come up with an interest rate.

You have another quote, or were you just making shit up?

Quote (Thor123422 @ 3 Feb 2024 16:24)

I just gave you the guy who testified. You can just look up the full testimony yourself. The banks testified that they relied on Trump's estimates, and Trump's testimates by his own admission were made fraudulently, since they knew things like the square footage of his apartment and lied about it.

Quote (Thor123422 @ 3 Feb 2024 15:45)

I'm just quoting the testimony of the banker that testified about what they relied on for making the loan.

It is absolutely indisputable that Trump knowingly made materially false statements to secure a better loan that were relied on by the bank when deciding the risk assessment. There is absolutely no possible defense, because it was admitted in the companies own documents, which is why it was decided in summary judgement.

So there's no reason to continue if somebody can't even acknowledge that.

Quote (InsaneBobb @ Feb 3 2024 05:27pm)

he indicates he relied on Trump's provided information, not the Bank's own valuation assessment?

Quote (Thor123422 @ 3 Feb 2024 16:33)

They do not need to have *only* used his statements, they only need to have relied on them in some fashion, which they testified to using to build their own assessments, as is demonstrated in what I quoted.

Quote (Thor123422 @ 3 Feb 2024 14:51)

Trump built his apartment and was the only one who lived there. There is no world where misrepresenting that as 30k sqft instead of 11k is not intentional.

Quote (InsaneBobb @ Feb 3 2024 05:59pm)

Since you're big on making shit up, let's address this next. By "apartment" you're referring to his Penthouse suite in Trump Tower. Trump did NOT build it, construction workers built it. He did not even design it, Ivana Trump did.

Quote (Thor123422 @ 3 Feb 2024 17:06)

:rofl:

"Trump didn't build or design it. The construction worker he hired built it and his wife designed it!"

Just perfect

Quote (InsaneBobb @ Feb 3 2024 04:53am)

So let's see if I've got this right:

1. Trump applies for a business loan.
2. Trump has his assets valued and provides that figure.
3. The banks do their own valuation analysis.
4. The banks provide Trump loans based on their own valuation.
5. Trump and the banks are both satisfied with their business contracts. Loans are repaid in good faith, everyone wins.
6. The State of NY enters the fray, decides the value of Trump's properties isn't the sale value, but the grandfathered in taxable value.
7. Based on their own assessment of values, the government of NY determines that what... Trump should have paid a higher interest rate than was requested to by the banks?
8. Now NY can seize Trump's properties and businesses for themselves. And rather than seizing them at sale value rates, they can seize them at taxable value rates.
9. No "crime" was committed anywhere, nor any fraud. The banks and Trump came to an agreement and loans were offered and repaid in good faith. No payout from any lawsuit is going to the banks, it's all going to the State of NY, who had nothing to do with any loans in the first place.

The effective result of this case is horrific. If you go and purchase a $30,000 property, then dump $1,000,000 into improvement of that property, it's resale value is probably going to be several million dollars. What you will be taxed on the property, aka it's taxable value, is still going to be right around $30,000 until it is actually sold. While property taxes can go up, they only go up a small percentage of the initial purchase. Because property improvements aren't income, they're an expense. If you take loans against your own property that you've spent decades improving the value of, NY has set the precedent that if those loans are based on sale value of the property rather than taxable value, they can now simply steal your property and prevent you from earning a livelihood.

This is quite possibly the greatest attack on private ownership and private contracts ever seen in the US. And the left is too stupid to understand how it can be used to steal everything from them, because they're so focused on their hatred of the orange man. It's sad.

Edit: Note that when taking a loan, the interest rates offered by the banks are offered based on a risk analysis. When you offer property as collateral on the loan, that lowers your interest rates specifically because if you fail to repay, the banks will receive what they determine to be MORE value from the ownership of your property than they would from repayment of the loan itself. The bank themselves determines what THEY value that collateral as. Nowhere in any of that is the government involved. Nor did any bank complain about being cheated in any way. And if you think Maralago is worth $18 million or 16 million or whatever NY claimed, in SALE value? you're smoking the fine shit, friend.

Quote (EndlessSky @ 3 Feb 2024 17:19)

I'm starting to think that TiStuff was right and that the most mature response to this is "REEEEEEE"

Quote (InsaneBobb @ Feb 3 2024 06:10pm)

That is not a win for you. It's simply further proof that you are outright making shit up. Just like your claim that the banker testified that they relied on Trump's form when coming up with the interest rate. You can't produce a quote that indicates anything of the sort, because you made that shit up.

You can talk all the shit you want, but Ivana Trump and some other guy, high style designer type, worked on the design. Like, Trump doesn't swing a fucking hammer you cretin. He's the bossman that tells the construction workers to construct the work. You literally know nothing about anything, don't you? Except torturing rats, I guess.