Another Diversity Hire

Check all the right boxes and you don’t have to have any active braincells at all. Idiocracy here we come with a jet pack on.

TDS

Higher valued property pays higher taxes.

He government made it illegal to give them MORE money???

Nonsense.

I'm sure the statute was written with the intent of criminalizing UNDERVALUING your property to get cheaper tax payment.

Even still, that's what the state assessor's do - determine the taxable value of your property.

Your appraised value is always more than the assessed value.

Well, as an example, he would tell the state in filings that his apartment in Trump tower was 10K square feet and worth a certain amount. Then he would tell the banks that the same apartment was 30,000 square feet and worth $200 million. (when at the time, the most any apartment in New York City had sold for was $100 million).

He used that 30K square foot apartment as collateral to get bigger loans than he should have access too.

That's illegal. Because its fraud.

It wasn't a rounding issue. Or a disagreement between appraisals.

It was massive fraud. And he did it with every property he owned. Every year. For at least a decade.

The bank has people on staff who's only job is examining real estate records.

The square footage, everything you listed, is public record.

This ain't Jim Bob trying to borrow a couple of thousand.

The bank could have rejected the loan.

The state sends an assessor at regular intervals to look at and value the property.

Every one to five years depending on where you live.

Your hypotheticals fail at their conception.

Abort them.

Yes. He would claim with the state the property was the square footage and close to the appraised value.

He would make different claims with banks.

That's the fraud part. You can't engage in business like that. You have to tell everyone the same thing. You know, the truth.

And yes, the bank could have rejected the loans. But they didn't.

Keep in mind, this wasn't any old bank. This wasn't like New York City Central Savings & Loan or Wells Fargo or whatever. Trump had already burned those banks. No bank in the US was doing business with him.

This was Deutsche Bank. You know, that German-based bank that's been fined for real estate fraud around the world. They've paid billions in fines. $7 Billion over the 2007-08 banking crisis to the US alone. $12 billion to the EU.

Of course there was the espionage stuff.

So, yeah, it's a wonder why they didn't do their due diligence. YOu'd think after being caught committing all that fraud and paying all those fines, they'd be more on the ball with that stuff.

But they weren't.

Now, if I were a conspiracy minded person, I would point out that a lot of these fraudulent loans were supposedly signed off on by 1 guy.

And that 1 guy just happens to be the son of former Supreme Court Justice Kennedy.

Then I think about 2018 when Trump invited Kennedy over for dinner at the White House. Shortly after Kennedy announced his retirement.

I'd wonder if part of the dinner conversation was how Kennedy's kid was having such a great career in the banking industry, and it would be a shame if something bad happened to it.

But I'm not a conspiracy minded guy. I deal with facts.

So, until facts come out that say otherwise, it's just a coincidence.

There is no fraud.

The state values your property.

The bank verifies if the property is worth what you say it is by first looking at the assessed value and the appraised value determined by the state.

You don't own property do you?

yeah. I do. I bought my first house in North Austin just before the financial collapse of 2007.

I sold that and moved to the Dallas area and bought my second house about 10 years ago.

I liquidated my father's estate (by estate I mean I sold his house and split the profits between my siblings and myself).

What Trump was doing is fraud. I know you can't accept that, but here's the specific New York laws that say it's fraud: Executive Law § 63(12), New York Penal Law § 175.10, Penal Law § 175.45, and Penal Law § 176.05.

Those are the specific laws he was breaking. Lying about the value and size of property is a crime. Regardless of the bank's actions.

It was fraud.

And here's the fun part: he's already been found libel for that fraud. That part of the trial is already over. What they're doing now, and for the next couple of months apparently, is discovering the true market value of his assets, then they'll dissolve the companies and pay back any/all investors.

His ability to do business in New York has been removed. Same for his sons.

The fat lady wrapped up her song, and now they're figuring out the bill he's gonna pay.

Did you tell the tax assessor what amount to value your property to determine the tax owed?

This is the part you keep missing. And at this point, I think it's willful on you're deciding to not understand what he did. Or it's that you're unwilling to accept that your boy Trump committed a great deal of fraud for years and years.

The state said, "your 10,000 sq ft apartment is worth X amount."

Trump paid taxes on that amount.

Then Trump applied for a loan at a bank. He told the bank, "My apartment will act as collateral. It's 30,000 sq ft. It's worth $100 million more than any other apartment in New York City has ever sold for."

And he got access to a loan with that lie. He misrepresented the value and size of his assets. His apartment was not 30,000 sqft. It was 10,000. It wasn't worth $100 million more than any other apartment in New York City.

That's fraud. And he did this with all of his properties. Every year.

He would pay taxes on the lower estimated value by the state/county.

Then he would create fake documents about his properties to inflate the value, and thus inflate his wealth.

And to specifically answer your question; Yes.

Because my father had bought his house at the height of the housing boom in 2005. When he died in 2009, the housing market had collapsed. You may remember. We argued with the tax office that with the prices the similarly sized houses around his were selling for "now" the actual value was significantly lower than in previous years. They agreed. The value of the house was lowered.

Now, if you're thinking, "what about that bank loan? You can't do that with the bank. The money you owe is the money you owe. You said split profits. How did you split profits if the house was less than when he bought it?"

Because generational wealth is a thing. Grandma, his mom, died in 2003. He used the money from the sale of the estate (she actually had more than just a house) to pay cash for his house.

So, even though the final sale of his house was less than what he bought it for, where was money to distribute between us.

Now imagine that you own outright a 2000 sqft, 3 bedroom, 2 bathroom house. It's valued at $280,000. You pay taxes on that house.

But then you go to the bank and say, "My house is actually 10,000 sqft. It has 6 bedrooms and 5 bathrooms. A 4 car garage. A pool AND a pool cabana. And it's valued at $2,800,000. Now gimmie a loan based on that collateral."

Both cannot be true. Either he's lying to the state or he's lying to the bank. That's fraud.

Many wasted words.

Do an experiment - apply for a loan at a bank and list your house as collateral with a stated value 10 thousand more than the actual assessed value and see if they don't call "bull shit" on you.

The part you refuse to get is I DO NOT CARE if señor Trump inflated the value of his property.

No person or individual was cheated out of anything.

How much taxpayer money was wasted in this ridiculous prosecution?

Enough to house many migrants?

Enough to finance a few missiles gor Ukraine?

Enough for one thousand gender dysphoric teens to get body augmentation surgeries?

Oh yeah, and i believe it to be the misapplication of the intent if the law.

Twisting the law to deny someone a jury trial is Bullying

Really?

How sure are you on that?

Because civil trials, unlike criminal trials by default are bench trials. The judge decides. Unless one of the two parties requests a jury.

Trump's team didn't request a jury trial.

So... is it bullying?

Is it?

It's a moot point now , word coming out is this is just another failure . Demonrats ran up against a Judge with a little integrity

He's not enforcing the law I think is "the thing".

Ain't no bank ever took nobody's word for how much their double wide on two acres is worth to decide if'n they's gettin a loan.

I am sure the bank(s) did their due diligence before approving the loan(s).

I think it's weird you used a picture of a douche that is UNDERvaluing Maui property in order to steal some of it from the indigenous folks in their hour of need.

Keep in mind these are the same people that think murderers should be released without bail if they have a certain skin color yet they are real big on justice when it comes to Trump and Trump alone. Not serious people.

Oh, they're serious... that's why we laugh so much 😄