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Head Coach [786]
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Victims of Dirtbag Dons fraud
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Mar 25, 2024, 9:22 AM
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If you think there were no victims in this case, you have zero understanding of the secondary mortgage market, bond markets, interest rates, etc.
If loan applicants were allowed to lie on loan applications, as long as they paid the money back, our financial system would dwindle to a banana republic with soaring interest rates and greatly reduced market for mortgages, (residential & commercial) and ultimately negatively impacting general economic growth. Household wealth for middle class americans would decline as homeownership rates would decline. ☹️
OK, you want specifics? Go online and look at the underlying securities in pools of mortgages in the secondary market. Find a pool with underlying loans where the borrowers were found to have committed fraud in the loan applications. Look at the price history of this pool. if you bought the pool before you knew about the fraud and sold the pool after you knew about the fraud, you bought high and sold low and were victim of the fraud. ☹️
Are you having trouble finding mortgage pools with lots of fraud committed in the underlying mortgages? That’s right, that’s a reflection of the fact that most Americans don’t commit fraud when applying for a mortgage. We have a country of laws / rules / regulations and this is a perfect example of the value of those boundaries. Most people don’t handle their affairs like Donald Trump. 😂
Insert third world country here to look at countries that don’t have confident stable secondary mortgage markets and therefore don’t enjoy the economic stability and growth that we have in the United States of America.
America has the most stable economy on this planet and mortgage markets are a pillar of that stability. 🙂
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Heisman Winner [119734]
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BOO HOO***
Mar 25, 2024, 9:28 AM
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Commissioner [979]
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lol really? You are the one acting like he's the victim***
Mar 25, 2024, 12:36 PM
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All-In [34113]
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All-In [47750]
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Do you really believe the institutions that loan DJT money had
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Mar 25, 2024, 9:32 AM
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"zero understanding of the secondary mortgage market, bond markets, interest rates, etc."?
Wow. Just wow.
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All-In [34598]
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Yes, yes he does. And these gigantic banks don't do any DD either!!***
Mar 25, 2024, 9:37 AM
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Head Coach [786]
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Re: Yes, yes he does. And these gigantic banks don't do any DD either!!***
Mar 25, 2024, 12:59 PM
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Of course all parties complete due diligence.
Does that mean it’s OK for a loan applicant to commit fraud?
Are you saying that, since the lender did due diligence and didn’t note the fraud, then it must not be fraud. 😂
This is why Trump loves his voter base. He knows they’re so gullible. He can pull anything on them. Absolutely hilarious.
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Head Coach [786]
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Re: Do you really believe the institutions that loan DJT money had
Mar 25, 2024, 12:54 PM
[ in reply to Do you really believe the institutions that loan DJT money had ] |
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Sorry but you’re confused. Lending institutions have a full understanding of the secondary mortgage market, bond markets, interest rates, etc.
Folks that think this type of fraud has no victims have zero understanding of the secondary mortgage market, bond markets, interest rates, etc.
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Hall of Famer [24098]
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Re: Victims of Dirtbag Dons fraud
Mar 25, 2024, 9:34 AM
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The lawsuit had nothing to do with protecting the CMO market.
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Hall of Famer [20542]
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Re: Victims of Dirtbag Dons fraud
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Mar 25, 2024, 9:51 AM
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Probably not. My guess has been it was personal ambition on the part of Tish James and Alvin Bragg, who both very much wanted a prominent scalp in their trophy cases - combined with a distaste for Trump's politics and the man himself. So: sort of political, and definitely opportunistic.
But is the point SolidOrange made wrong? The likely a$$hole motives of the prosecutors aside, Trump flagrantly flouts laws and regulations and has always just bullied his way out of consequences whenever he was called to task on it...and if everybody was allowed to do that, our financial system would indeed crumble.
Also, it was Trump's own behavior that got him here. Legal exposure is a very real thing, and smart companies and business moguls avoid it, by both coloring mostly within the lines and keeping the folks who know where the bodies are buried happy. Trump was arrogant and sloppy and he's not only made enemies everywhere - inside and outside his own circle - with his behavior, he was the one who created the legal exposure he now faces for himself. And those enemies he himself created are duly beating him over the head with it.
You make enemies and you leave openings, that kind of thing is going to happen.
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Hall of Famer [24098]
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Re: Victims of Dirtbag Dons fraud
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Mar 25, 2024, 11:31 AM
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Game of Thrones, I think that aptly describes our Justice/Political system.
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Hall of Famer [20542]
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Re: Victims of Dirtbag Dons fraud
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Mar 25, 2024, 1:32 PM
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Yup. Politics and finance have always been war, anywhere, anywhen. Usually literally. We definitely didn't invent that. Moving it to courtrooms just took (most) of the blood out of the gutters afterwards.
Trump's brass-knuckles eye-gouging scratching-and-biting style may have won him a legion of dedicated admirers, but it also made him an even larger legion of dedicated enemies...some of whom had once been part of his inner circle and had insider info to dish. And so here we are today.
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Head Coach [786]
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Re: Victims of Dirtbag Dons fraud
Mar 25, 2024, 1:06 PM
[ in reply to Re: Victims of Dirtbag Dons fraud ] |
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You are right about that.
The lawsuit does not need to mention anything about secondary mortgage markets / CMOs. Dirtbag Don had no direct involvement with CMOs in these transactions.
The lawsuit simply needs to identify the fraud and penalize the fat orange dirtbag for his proven fraud.
You are correct.
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Orange Blooded [4011]
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Re: Victims of Dirtbag Dons fraud
Mar 25, 2024, 2:47 PM
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That is just not true and that is why the judgment will ultimately be reversed on appeal.
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All-TigerNet [13146]
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You win dumbest post of the day. Congrats.***
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Mar 25, 2024, 9:39 AM
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Commissioner [979]
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You finally lost your podium spot, nice***
Mar 25, 2024, 12:36 PM
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110%er [9101]
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CU Guru [1374]
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Re: Victims of Dirtbag Dons fraud
Mar 25, 2024, 12:33 PM
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Hey man, the banks do their own assessments and valuations as well. Idk if you know that…
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Head Coach [786]
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Re: Victims of Dirtbag Dons fraud
Mar 25, 2024, 12:47 PM
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Yes well aware. I’ve done it.
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Orange Blooded [4011]
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You sure as hell dont sound like you have
Mar 25, 2024, 2:23 PM
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What bank or banks did you work for? Did your property valuations differ from your prospective borrower? Did you sue them for fraud when they over estimated the value of their property?
No you didn’t
Every freaking commercial real estate developer in New York state could be sued the same way
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Head Coach [786]
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Re: You sure as hell dont sound like you have
Mar 25, 2024, 10:40 PM
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I did due diligence on three continents. I’ve seen a variety of laws and regulatory frameworks. If somebody was lying or things didn’t add up, we would not invest. It’s common sense.
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All-In [40936]
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fraud is serious
Mar 25, 2024, 12:59 PM
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Im sure after the criminal trial he will be forced to pay back every penny that was obtained by fraud and fined additional too
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Orange Blooded [4011]
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Trumps properties are all high profile
Mar 25, 2024, 1:01 PM
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Easy to locate commercial properties
And they are large transactions between sophisticated parties
All these banks know the valuations are subjective
They did their own due diligence, loaned the money, got paid, and did not file suit
Your argument is complete crap
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Head Coach [786]
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Re: Trumps properties are all high profile
Mar 25, 2024, 1:13 PM
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Subjective? Absolutely, but look at the extent of Trump’s fraud. This was not a little exaggeration. This was blatant.
If the lenders don’t spot the fraud or note the fraud that does not relieve the fraudulent party. You will see text to this effect in any loan document.
I just think it’s comical that you guys will bend over backwards and contort your logic to defend proven fraud.
Trump is a dirtbag. If he was a real estate developer in Pickens county, South Carolina, he would’ve been out of business years ago. Nobody will lend to him. Nobody would do business with him. He is a scumbag.
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CU Guru [1374]
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Re: Trumps properties are all high profile
Mar 21, 2021, 5:41 PM
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I still haven’t seen one shred of proof of fraud. Would you mind posting examples of his fraudulent activity?
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Orange Blooded [4011]
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Really?
Mar 25, 2024, 2:43 PM
[ in reply to Re: Trumps properties are all high profile ] |
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You don’t know the first thing about these types of loans.
Without exception, for anyone applying for a large loan who shows real estate holdings as a major asset, appraisals are required!
So you concede that the lender wasn’t a victim of the fraud but you posit that secondary debt markets and insurers are the real victims (in the abstract), right ?
Well who’s responsible for that? If Deutsche Bank or (or any original lender) failed to appraise the assets and/or lied about it to insurance companies and/or the secondary market - the fraud is on them.
And to put this in perspective, you can’t point to one case in the state of New York where a real estate developer has been charged similarly
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All-TigerNet [10899]
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Trump is the only victim here.***
Mar 25, 2024, 1:01 PM
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Oculus Spirit [81078]
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lol***
Mar 25, 2024, 1:10 PM
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All-TigerNet [10899]
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Oculus Spirit [81078]
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Head Coach [786]
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Re: Victims
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Mar 25, 2024, 2:05 PM
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This is hilarious.
Sad / comical that there are any folks left that still believe inTrumps con job. 😂
Financial Darwinism. 😂
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Head Coach [786]
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Re: Victims of Dirtbag Dons fraud
Mar 25, 2024, 10:45 PM
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I hope you Trumpers put your money where your mouth is and send money to trumps go fund me page. He is the only victim. The NY AG has no evidence and this will be overturned if you send enough money to Don.
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Head Coach [786]
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Re: Victims of Dirtbag Dons fraud
Mar 25, 2024, 11:17 PM
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Ok you TNet patriots are right.
Since “banks do their own assessments and valuations” Dirtbag Don was relieved of telling the truth on loan apps. He’s a victim of the banks poor management.
Since every “freaking commercial real estate developer in New York state could be sued the same way” but hasn’t been sued, we have confirmed that Don didn’t commit fraud.
Since the banks “did their own due diligence, loaned the money, got paid, and did not file suit” we now know that Donnie didn’t commit fraud.
I bet ya he was sitting at home w Melania watching father knows best reruns the moment the banks committed these horrible acts and tarnished his name. He is a victim and a true patriot.
Now please tithe to The Donald, either his campaign or his gofundme page. Just send him a bunch of your money, not mine. He is your retribution. He will save you. 😂
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