Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
BCM
User Panel

Page / 4
Next Page Arrow Left
Link Posted: 2/21/2024 11:55:05 AM EDT
[#1]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Needs to move all Trump assets out of new York to Texas or Florida.
Many big investors have noticed and are saying they won't invest in New York anymore.
Time to lay off 20,000 people in the city and let the aftermath spiral out. Layoff notices should clearly state their jobs are cut due to the Attorney General and courts of New York making it to expensive to do business.
View Quote
The people in NYC are the problem, and they will get their dues.
Link Posted: 2/21/2024 11:56:37 AM EDT
[#2]
Boycott NY

If you are in NY, leave.
Link Posted: 2/21/2024 12:14:02 PM EDT
[#3]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
If I were trump I’d bulldoze every property in NY, salt the earth and leave
View Quote


This.

He should start demolition of any and all properties in New York.  Start with apartments and rented offices.  I'm sure most have approached max depreciation tax wise.  Time to remodel.  Make the demo timeline 10 years, due to permits and inspections.  The government takes 3+ years to repave and repair 12 miles of interstate. 10 years for a multilevel structure seems expedited.  Any building with a possible structural deficiency, close immediately and let it set empty with no lights on.  Make the city argue the building is safe to occupy.  The city doesn't have a mechanism to force occupancy.  Have every building that is empty rezoned during construction to decrease taxes.  



Link Posted: 2/21/2024 12:15:35 PM EDT
[#4]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

That's interesting because I spoke to a retired business loan officer yesterday and she said it's fraud to misvalue your assets to get a loan. Definitely not "nobody's problem"
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:
I'm not a trucker but as a veteran bank employee (IT worker but somewhat familiar with many aspects of banking) this seems to me a very bizarre court decision.  The whole thing stinks to high heaven.

When you apply for a secured loan, it's incumbent on the potential lender to judge the valuation of property offered as collateral.  If a bank's highly regulated internal processes and procedures determine that a loan is a "go", then it's a done deal and really not a problem for government or anyone else if the borrower defaults.

If the borrower DOESN'T default, it's nobody's problem at all.

I really don't understand how Trump could be fined for overstating the value of his property.  If he did, that's the bank's problem.

That's interesting because I spoke to a retired business loan officer yesterday and she said it's fraud to misvalue your assets to get a loan. Definitely not "nobody's problem"


So I take it when you got a mortgage you personally determined the value?  Or did the bank send an independent assessor?

Did you use the square footage from the outside of the house or did you measure inside and then remove the walls, closets, utility room, etc.?

Because if you didn't apparently that's gonna cost you 300 million.

Nevermind the fact that is not how it's ever been done and square footage is only serving as a point of reference.
Link Posted: 2/21/2024 12:26:09 PM EDT
[#5]
Discussion ForumsJump to Quoted PostQuote History
Quoted:

That's interesting because I spoke to a retired business loan officer yesterday and she said it's fraud to misvalue your assets to get a loan. Definitely not "nobody's problem"
View Quote


It's certainly illegal to lie about the assets you have - for example, claiming 10 sports cars when I only have 1 - but assessments are simply that, assessments.  If you have an asset, it doesn't have a concrete value.  One assessor might give a vastly different number than another assessor, and neither are right or wrong.  So no, it is not fraud to claim that an asset has a certain value.  Claiming it doesn't mean that the other party has to agree.  That's just your suggestion.

My house is worth about $100,000.  If I put it up for sale for $200,000, that's not fraud.  It's just dumb, my house isn't going to sell.

My house is worth about $100,000.  I go to a bank and say "I believe my house is worth $200,000.  I would like a $100,000 loan."  That's also not fraud.  The bank will come back and say, "No, our assessment shows your house is worth $100,000, we can only give you a loan of $50,000."

I claim that I have 10 sports cars worth $100,000 each, and I would like to take out a loan with those cars as collateral.  I only have one sports car worth $50,000.  Somehow I trick the bank, and get the loan.  THAT is fraud.  I default, the bank comes to possess my cars, finds I don't have any, sues me, I go to jail and lose everything.
Link Posted: 2/21/2024 12:39:21 PM EDT
[#6]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
She should seize the assets first and then go to court for judgements.
View Quote



Link Posted: 2/21/2024 12:44:43 PM EDT
[#7]
Jonathan Turley makes the cogent points:

https://jonathanturley.org/2024/02/20/pay-to-play-trump-faces-a-staggering-cost-for-appeal/

These moves by NY State cannot possibly be ratified by the courts if there is any constitutional order whatsoever.

Just like all of the justices of the USSC were unreceptive to Colorado's argument to keep him off the ballot, expect a similarly hostile reception to these tactics by NY in an effort to establish the principle that the government can take your property with no crime committed and then make it impossible for you to appeal without being bankrupted.

Roberts is a deep state cuck, but this calls into question the entire judiciary as an institution and whether or not it has any role in America going forward.
Link Posted: 2/21/2024 12:46:27 PM EDT
[#8]
The exodus from NYC is ramping up. While the Commies in NYC are celebrating, Investors are taking their money and leaving. Leave the city to the rats, both four and two-legged varieties.


https://www.foxbusiness.com/real-estate/real-estate-investor-immediately-discontinue-working-nyc-trump-verdict-florida-texas
Link Posted: 2/21/2024 5:04:48 PM EDT
[#9]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
If I were trump I’d bulldoze every property in NY, salt the earth and leave
View Quote



While the principles don't exactly map, the overarching justification would be the same:

It reminds me of how Howard Roark handled Courtland Homes in "The Fountainhead."




Link Posted: 2/21/2024 5:13:56 PM EDT
[#10]
Get Musk to float a short term loan...
Link Posted: 2/21/2024 5:23:53 PM EDT
[#11]
Got a town bout 60 miles south of me that was burned during the Civil War, all the towns were in my area so it’s really nothing special, but I digress. Nevada, MO. One day the Kansas men road into town and burned all of the rebels homes. The townsfolk fled to the surrounding woods but when they came back they noticed some of the houses weren’t burned, so they burned them. That’s how this thing goes.
Link Posted: 2/21/2024 5:29:38 PM EDT
[#12]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
If he doesn't claim insurance can he burn them to the ground and walk away?
View Quote View All Quotes
View All Quotes
Discussion ForumsJump to Quoted PostQuote History
Quoted:
Quoted:



That's exactly what they want. They want him to sell off everything and get out of New York. They don't want to see the name Trump on any buildings. They are trying to erase everything he's done in NYC.
If he doesn't claim insurance can he burn them to the ground and walk away?


Not without a burn permit......
Link Posted: 2/21/2024 5:29:41 PM EDT
[#13]
I don’t know how the guy gets out of bed every morning.
Link Posted: 2/21/2024 5:38:15 PM EDT
[#14]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I always wanted to visit NYC.  Sadly I never will.
View Quote

Same here.

A lot of great historical things to see, but not by my eyes.
Link Posted: 2/21/2024 5:46:29 PM EDT
[#15]
This entire judgement blows my mind bu the pre-judgement of 100 million in interest is insane.
Link Posted: 2/21/2024 5:53:01 PM EDT
[#16]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
If he doesn't claim insurance can he burn them to the ground and walk away?
View Quote


Common sense tells me that most places would have laws precluding you from just torching your building or home given the danger it poses to other properties and life.
Link Posted: 2/21/2024 5:57:52 PM EDT
[#17]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I always wanted to visit NYC.  Sadly I never will.
View Quote

It used to just smell like piss.

I'm guessing it smells pretty third world by now.
Link Posted: 2/21/2024 6:07:49 PM EDT
[#18]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
I'm not a trucker but as a veteran bank employee (IT worker but somewhat familiar with many aspects of banking) this seems to me a very bizarre court decision.  The whole thing stinks to high heaven.

When you apply for a secured loan, it's incumbent on the potential lender to judge the valuation of property offered as collateral.  If a bank's highly regulated internal processes and procedures determine that a loan is a "go", then it's a done deal and really not a problem for government or anyone else if the borrower defaults.

If the borrower DOESN'T default, it's nobody's problem at all.

I really don't understand how Trump could be fined for overstating the value of his property.  If he did, that's the bank's problem.
View Quote


I have never seen a single article referencing Trumps supposed overvaluation list the value of any comps.

That was the first thing that jumped out at me when this all hit the news.

You mean to tell me that there was no appraisal? There are no comps to look at? No bank actually brought charges? Well no shit they didn't, Trump's lenders did their due diligence and they weren't wronged in any way. That's why it was the state that brought this suit - it's because the whole claim of damages is made up.

Anyone who has purchased a home in their life should have had alarms going off in their head over this story. Yet nobody seems to ask these questions
Link Posted: 2/21/2024 6:22:57 PM EDT
[#19]
Sadly the only course of action that’s remotely possible is to starve these cities/states of tax money. Divest yourself of anything NY and encourage others.

Like CA, NY is going to have to suffer.
Link Posted: 2/21/2024 7:24:31 PM EDT
[#20]
Discussion ForumsJump to Quoted PostQuote History
Quoted:
From what I understand, in order to appeal, he has to put up the $354 mil or be bonded. Either way, it cost him money. He will have to liquidate shit he owns, in this shitty economy, which will cause him more money.

Bottom line, who did he fuck over? All those involved made money off him and wanted to continue doing business with him.
View Quote


No, not for this asinine judgement he won’t.
Link Posted: 2/21/2024 7:49:49 PM EDT
[#21]
It would be cool if the banks they claim were defrauded were to put up the funds.

Imagine the statement that would make
Link Posted: 2/21/2024 9:10:26 PM EDT
[#22]
Implosion charges and demo all the buildings, let them seize rubble.
Just pull out of the entire state.
Page / 4
Next Page Arrow Left
Close Join Our Mail List to Stay Up To Date! Win a FREE Membership!

Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!

You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.


By signing up you agree to our User Agreement. *Must have a registered ARFCOM account to win.
Top Top