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I don’t even understand how this works

James added: “The complaint demonstrates that Donald Trump falsely inflated his net worth by billions of dollars to unjustly enrich himself and to cheat the system, thereby cheating all of us. He did this with the help of the other defendants.”

Banks don’t just accept self-valuations of property. Nor does the taxman. What – other than OPrange Man Bad – are they on about?

14 thoughts on “I don’t even understand how this works”

  1. It’s Political Lawfare.

    BTW, what happened to all those ‘nuclear secrets’ he supposedly stole that the FBI failed to find in the raid on his home?

  2. They are petrified he’ll get elected in 2024 and are doing everything they can think of to stop him running aren’t they?

    And, why hasn’t this storage facility (furniture warehouse) in Chicago been raided by the FBI? The one where Obama has kept thousands of classified and unclassified documents since he left office? :

  3. It is indeed abject bollocks. If two parties – eg a bank and Trump – agree on the value of a building for the purpose of a loan then that price is confirmed just as if it was a sale. The mere fact of the loan confirms the value. The only way it could not be so is if there was collusion between a bank executive and Trump, but there is no suggestion of this.

    There is no intrinsic value of a piece of real estate. If you say it is worth a billion dollars, it means nothing unless someone else accepts it. No one breaks the law if they sell an asset for less than previous book value.

    I notice that all the shit-thick hacks who write about this swallow the line that “it really is serious this time”, just like they did the other dozen times this sort of BS came up.

  4. That they didn’t raid Obama isn’t a defence that Trump can use. Mind you the next republican presidential candidate can use this and many other examples of how the state is no longer acting equally without fear or favour but sliding into totalitarianism. And for once it won’t be hyperbolic.

  5. What amazes me is that the Donald has been doing business in NY for ever, he’s had both the state authorities and the feds on his case for at least a decade and this is all the chickenshit stuff they can come up with?

    The worrying thing is that Ms Leticia, dear old Merrick and the rest must know they’re making themselves look stupid, yet they keep on doing it. So what’s the end game?

  6. “Donald Trump stands out as among the most egregious examples. Trump thought he could get away with the art of the steal but today that conduct ends.”

    This is a giveaway that it’s politically driven and likely to be absolute bullshit.

    The Donald is a braggard and a bit of a bullshitter. And I don’t say that pejoratively. That is how he works. But my sense is that when he files official documents he doesn’t do this.

  7. If all else fails they will assassinate him and have a Patsy ready, after all, political assassinations are not that unheard of over the pond, and a Patsy is not a novel idea either.

  8. Surely it’s between Trump and his lenders. If he inflated the value of his collateral to get the loan, the dispute would be between the bank(s) and Trump, not the state, unless the state lent him money. And the bank (or state) would have to show in court that they lost money on the deal.
    And presumably not “we could have charged more interest” actually lost money of a $$$ amount.
    Quite a high legal bar given rising property values at the time.

  9. Philip, it does seem odd that a District Attorney is going after someone over a civil matter. Surely if the Banks were the victims of the alleged dodgy valuations, they’d be after him?

  10. They’re also saying he got tax breaks by over-valuing land set-aside that could have been developed (there’s a scheme to encourage that).

    As with the banks, the valuation would have to have been accepted by someone else, so not sure what the issue is there either.

    Given the endless lawfare attempts over the last several years, Trump is beginning to look rather prissily angelic. Can’t be good for his self-image.

  11. Dennis, Noted Legal Scholar

    The big news here is that this is a civil complaint, not a criminal one. That tells you what James has in the way of evidence.

    This will drop off the radar rather quickly… Much like the FBI’s raid on Trump.

    The irony of this is that we had the administration of one of the USA’s most corrupt presidents going after a former president who was very close to being squeaky clean.

  12. @ Dennis
    Is Biden within streets as bad as LBJ?
    (This is a genuine question because info doesn’t always cross the pond and I was quite surprised at the suggestion).

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