The Conservative Cave
Current Events => The DUmpster => Topic started by: CC27 on September 23, 2022, 11:16:26 AM
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Pisces (5,424 posts)
Bank was complicit in Trump fraudulent loans!!
There is no bank that takes the word of the borrower on the value of assets they are lending on. An appraisal is done, at the very least a tax valuation etc. the lender must verify all information. This is not going to go anywhere if they don’t hold the banker accountable to fraud. Trump will try and weasel out of it because bank confirmed value by giving him the loan.
Anyone who owns a home and has tried to refinance to take cash out knows this information. Most people overestimate the value of their home that is why an appraiser is sent to give a fair value based off other similar properties.
https://www.democraticunderground.com/100217186774
Only 24 business hours!!! :whatever: :whatever: :whatever:
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1. Got evidence the banks did not verify the valuations of Trump's property?
2. I'll post this spaced out and in large font so onlurking DUmmies might understand:
Trump ____ Paid ____ Off ____ These ____ Loans!
In plain English, the banks risk assessment, including property valuation, was PROVEN correct.
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DU <——————- Self proclaimed smartest people on the planet.
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Bank was complicit in Trump fraudulent loans!!
There is no bank that takes the word of the borrower on the value of assets they are lending on. An appraisal is done, at the very least a tax valuation etc. the lender must verify all information. This is not going to go anywhere if they don’t hold the banker accountable to fraud. Trump will try and weasel out of it because bank confirmed value by giving him the loan.
Instead of concluding that the bank's valuation undermines the theory that Trump misrepresented the value of the properties, DU concludes "the bank is complicit!!!!111!1!!".
There is no facepalm hard enough.
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Something these DUmmies also refuse to accept and/or admit. No bank was willing to sign on with the NY AG civil suit. Should tell you everything you need to know.
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Maybe they can turn the bank into a jail and lock Trump up in there :rotf: :rotf: :rotf:
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Something these DUmmies also refuse to accept and/or admit. No bank was willing to sign on with the NY AG civil suit. Should tell you everything you need to know.
From a DU POV, that proves the banks are in cahoots with Trump.
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Maybe they can turn the bank into a jail and lock Trump up in there :rotf: :rotf: :rotf:
Someday, some aspiring journalist will open the "Trump vault", thinking they'll find the pee tape, Trump's hit list, proof of Trump planning a coup, all the classified stuff he supposedly stole...
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Someday, some aspiring journalist will open the "Trump vault", thinking they'll find the pee tape, Trump's hit list, proof of Trump planning a coup, all the classified stuff he supposedly stole...
With our luck, it will be a 150-year old Jerry Rivers, still looking for his chance to be as correct as a broken clock. Taped on a rubble strewn post-apocalyptic waste land version of Atlantic City, of course.
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getagrip_already (9,497 posts)
4. Actually there were banks that did that - it caused the last banking meltdown.......
There was something the banks called liars loans. Really. There was no income verification, or verification of valuations of assets.
But when the bubble burst.......
Well now, Muppet. You seem to be forgetting to mention some important details. Like, what, or who directly got us there. Namely, disgraced former Pres. Bill Clinton (husband of Hill-dog who will NEVER be President BTW) Repealing Glass-Stegall and rewrote The Community Reinvestment Act which put the screws to banks, forcing them to hand out loans.
FBaggins (25,010 posts)
10. Unfortunately, that isn't true
These aren’t consumer mortgages that are being sold to Fannie Mae (and thus need to be underwritten to a specific standard).
Banks making commercial loans can look at a statement claiming that the collateral is worth $300 million and decide for themselves that it’s only worth $200 million… but still make the loan because they only need it to be worth $150 million to serve as collateral.
If anything, the fact that the banks involved didn’t just take his word (combined with the fact that the loans didn’t go bad) hurts the case against him (and may be why it isn’t a criminal prosecution)
Someone figure something out. Its a miracle. :lmao:
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getagrip_already (9,497 posts)
4. Actually there were banks that did that - it caused the last banking meltdown.......
There was something the banks called liars loans. Really. There was no income verification, or verification of valuations of assets.
But when the bubble burst.......
The need of some DUpipo for this to be true is PATHETIC! Along with residential mortgages and commercial mortgages being different marketplaces with different rules and regs (e.g. the Clinton MalAdministration rule that banks wanting approval to open new branches had to give more home loans to minorities, qualification be damned), in the years before the 2008-2009 crash home equity loans that reduced owners' equity to 5% or 0% or possibly -5% were quite the thing.
FBaggins (25,010 posts)
10. Unfortunately, that isn't true
These aren’t consumer mortgages that are being sold to Fannie Mae (and thus need to be underwritten to a specific standard).
Banks making commercial loans can look at a statement claiming that the collateral is worth $300 million and decide for themselves that it’s only worth $200 million… but still make the loan because they only need it to be worth $150 million to serve as collateral.
If anything, the fact that the banks involved didn’t just take his word (combined with the fact that the loans didn’t go bad) hurts the case against him (and may be why it isn’t a criminal prosecution)
MIRT Alert! MIRT Alert! MIRT Alert! Member committing truth!!! REEEEEEEEEEEEEE!!!!!!!!!!
James is also using civil court because the burden of proof is significantly lower, to the point that Trump all but has to prove he, his family members, and companies are innocent.
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Someday, some aspiring journalist will open the "Trump vault", thinking they'll find :fuelfire: the pee tape, Trump's hit list, proof of Trump planning a coup, all the classified stuff he supposedly stole...
I was inspired: