Trump exaggerated his net worth by $2 billion to get loans from Deutsche Bank

[ηєω ƒяσηтιєя]

https://mobile.twitter.com/JohnJHarwood/status/1107810623063244800 This is not surprising at all. However, this is bank fraud. Both Paul Manafort and Michael Cohen are going to prison in part because of bank fraud.

[T'Chenka]

LOCK HIM UP! LOCK HIM UP!

[ProudModerate2]

I hope the State of New York takes full control of any charges against trump and the Trump Organization. That way, there will be no federal pardons to any of these crooks.

[gerritcole]

This is just good business

[Badger]

This is just good business

No, that's clearly fraud. What planet are you from?

[Absentee Voting Ghost of Ruin]

I have been saying this for years. (Not that I'm the only one.)

[dead0man]

This is just good business

no

[Santander]

This is just good business

No, that's clearly fraud. What planet are you from?

Unrealistically overvaluing his assets because of delusional narcissism (further stoked by the bank he was doing business with) is perhaps more a combination of greed and mental illness than fraud. Still, obviously unacceptable.

[Crumpets]

Trump the illegal.

[Sprouts Farmers Market ✘]

Net worth is incredibly easy to manipulate by playing with just a couple variables. Thank you Michael for doing the dirty work on those assumptions.

[Landslide Lyndon]

This is just good business

Even Stevie Wonder can see through your trolling.

[T'Chenka]

This is just good business

No, that's clearly fraud. What planet are you from?

A planet where during the third presidential debate in the general election, Trump supporters cheered when his answer to "you didn't pay any taxes in the few years we do have of your tax returns" was "that makes me smart".

[Sestak]

This is just good business

no

[junior chįmp]

Bread gained by deceit is sweet to a man, but afterward his mouth will be full of gravel.

[President Johnson]

The Art of the Steal, Part 5197

[Santander]

The Republican Party would be wise to take notes from DB. They're heading down exactly the same path. Nobody has come out of a long-term relationship with Trump for the better. He is a Category 5 moron who cannot be relied upon to act in any way even vaguely resembling reasonable.

[GP270watch]

LOCK HIM UP.

While net-worth is a very volatile metric, claiming 2 billion out of thin air is something else.

[Santander]

LOCK HIM UP.

While net-worth is a very volatile metric, claiming 2 billion out of thin air is something else.

After Trump made his financial assertions to DB, they evaluated the risk against the opportunity and they decided to move forward with providing him finance. You can't lock someone up if the counterparty conducts independent analysis and accepts the risk.

[GP270watch]

LOCK HIM UP.

While net-worth is a very volatile metric, claiming 2 billion out of thin air is something else.

After Trump made his financial assertions to DB, they evaluated the risk against the opportunity and they decided to move forward with providing him finance. You can't lock someone up if the counterparty conducts independent analysis and accepts the risk.

 Lying on a financial application is against Federal and State laws. Getting the mortgage or loan doesn't matter. Is it a prosecutable case for a NY Prosecutor, I don't know. But I'm in favor in any actions that leads to scrutinization of Trump's assets and relationship with Deutsch Bank, a bank that is notorious for money laundering.

[Santander]

LOCK HIM UP.

While net-worth is a very volatile metric, claiming 2 billion out of thin air is something else.

After Trump made his financial assertions to DB, they evaluated the risk against the opportunity and they decided to move forward with providing him finance. You can't lock someone up if the counterparty conducts independent analysis and accepts the risk.

 Lying on a financial application is against Federal and State laws. Getting the mortgage or loan doesn't matter. Is it a prosecutable case for a NY Prosecutor, I don't know. But I'm in favor in any actions that leads to scrutinization of Trump's assets and relationship with Deutsch Bank, a bank that is notorious for money laundering.

Trump forging documents, claiming to own assets he did not, or asserting a value on an asset that is grossly unreasonable (we're talking like an order of magnitude off a hypothetical independent third party's valuation) is fraud. Business principals obviously have a tendency to be biased towards favorable valuations of their assets, while a bank's risk department's job is to be conservative. Trump's valuation of a real estate asset being 70% higher than the bank's risk department's valuation is far from unusual and far from financial fraud. On the contrary, it is literally just another day in alternative assets finance.

[ProudModerate2]

LOCK HIM UP.
While net-worth is a very volatile metric, claiming 2 billion out of thin air is something else.

After Trump made his financial assertions to DB, they evaluated the risk against the opportunity and they decided to move forward with providing him finance. You can't lock someone up if the counterparty conducts independent analysis and accepts the risk.

 Lying on a financial application is against Federal and State laws. Getting the mortgage or loan doesn't matter. Is it a prosecutable case for a NY Prosecutor, I don't know. But I'm in favor in any actions that leads to scrutinization of Trump's assets and relationship with Deutsch Bank, a bank that is notorious for money laundering.

Trump forging documents, claiming to own assets he did not, or asserting a value on an asset that is grossly unreasonable (we're talking like an order of magnitude off a hypothetical independent third party's valuation) is fraud. Business principals obviously have a tendency to be biased towards favorable valuations of their assets, while a bank's risk department's job is to be conservative. Trump's valuation of a real estate asset being 70% higher than the bank's risk department's valuation is far from unusual and far from financial fraud. On the contrary, it is literally just another day in alternative assets finance.

I don't think that there is just one trump real estate asset, that is in question (which you make it sound like in your response). They are talking about his total net worth (basically, all assets minus all liabilities). If trump claimed 3 billion and the real number is about 788 million, then that is about 4 times (400%) of one number compared to the other. This in no way would be considered fudging one's assets by a small amount or "just another day" in sneaky asset evaluation. Yes, businesses do over-evaluate, but not by that much!

[Progressive Pessimist]

The man who was born for the purpose of being Fred Trump's tax shelter sure learned a lot from his daddy.

[DINGO Joe]

This is just good business

No, that's clearly fraud. What planet are you from?

To some, i.e. Trumpers, fraud is good business.

[pbrower2a]

This is just good business

It is bank fraud, which is criminal because it is bad business. People go to prison for that. Bankers do not lend to gamblers or cheats if they can avoid doing so. It is best that bankers first lend to those who can best use the proceeds of a loan. Meyer Rothschild operated on  the principle of never offering a loan to someone for whom the loan would burn the customer. He got fantastically rich by following that procedure. Cheaters have a far higher chance of defaulting than those who can show that the loan will get them a stronger stream of income.    

A debtor has no right to cheat a creditor by offering something worthless, nearly-worthless, or blatantly overvalued as collateral.

Borrowing money is a privilege, and creditors need some protection. If the slum that I offer as a 'luxury apartment' as collateral for buying more property, then I cheat the bank. This is not to say that I cannot upgrade a slum apartment into 'luxury apartment' through renovation and borrow money for such.

  

[Santander]

This is just good business

It is bank fraud. People go to prison for that. Bankers do not lend to gamblers or cheats if they can avoid doing so.

A debtor has no right to cheat a creditor by offering something worthless, nearly-worthless, or blatantly overvalued as collateral.

Borrowing money is a privilege, and creditors need some protection. If the slum that I offer as a 'luxury apartment' as collateral for buying more property, then I cheat the bank. This is not to say that I cannot upgrade a slum apartment into 'luxury apartment' through renovation.   

You clearly have no idea how debt finance works...