"Every real estate developer everywhere does this" says Kevin O'Leary reacts to Trump civil fraud case

[OKTexas]

Funny none of the the parties involved are unhappy. Only the leftists are.

Just prove this was all politically motivated.

.

 

[ColonelAngus]

Shouldnt this be in the LAW AND JUSTICE SYSTEM FORUM?

When threads are in the wrong forum, it really fucks me up.

Law and Justice System

For those who want to speak about legal issues

www.usmessageboard.com

 

[tahuyaman]

Just prove this was all politically motivated.

.

The prosecutor ran on a platform of “getting Trump.” He’s been her sole focus. Nothing else. Only Trump.

 

[OKTexas]

The prosecutor ran on a platform of “getting Trump.” He’s been her sole focus. Nothing else. Only Trump.

YEP!

.

 

[Clipper]

You have an uncanny ability to misunderstand even the simplest of concepts.

You have an uncanny ability to play follow the leader, i.e. Trump.

Makes you feel secure, right sheeple?

 

[Clipper]

He didn’t actually defend Trump. He just explained in simple terms how business is conducted in that sector of the real estate market. He basically said that Trump is following standard legal business practices and his vulnerabilities lay elsewhere.

Got any more excuses to explain away the fact that your boy is a fraud?

Oh, I know. "Everybody does it"!

You just earned another taste of Trump's ass.

 

[tahuyaman]

You have an uncanny ability to play follow the leader, i.e. Trump.

Makes you feel secure, right sheeple?

What makes your ignorant ass relieve I’m a Trump supporter? Do you assume that because I think you’re an idiot?

 

[tahuyaman]

Got any more excuses to explain away the fact that your boy is a fraud?

Oh, I know. "Everybody does it"!

You just earned another taste of Trump's ass.

Good gawd you’re stunningly stupid.

 

[noonereal]

Watch Kevin O'Leary reaction to Trump's New York civil fraud case by the CNN reporter:


"Well, let's leave out Trump for a minute, and let's leave out politics, and just talk about what happens in real estate development anywhere.
So, if you're a developer and you've got a building on the block, anywhere in America, and it's worth, let's say, $500 million, and you want to build a building right beside it, you go to the bank and say, "This building is worth $500 million. I'd like to borrow a construction finance loan against this asset, and I want you to tell me it's worth $500 million too."
And by the way, forget about Trump, every single real estate developer everywhere on earth does this.
They always talk about their asset being worth a lot and the bank says no. That's just the way it is.
So in this case, what I'm trying to figure out, and I'm not pro or con, or I don't care about the politics, who lost money?
Nobody. The bank got paid back the construction finance loan, and a new building was built.

And O'Leary goes on...
If you're going to sue this case and win, you've gotta sue every real estate developer everywhere. This is all they do.
This is what they do all day long every day.
So I don't think this thing will ever survive appeal regardless of what the fine is. This doesn't even make sense.

Now Those of you that aren't aware of this, let's put this into something you can comprehend.
In Dallas, Texas this property has a Zillow Market value of as high as $29.36M...

But the city of Dallas says the "Taxable Value" value for tax appraisal for the city, School,College, Hospital,

View attachment 887755

So as O'Leary states... "Every real estate developer everywhere does this':
Market value:

Real Estate & Homes For Sale - 45844 Homes For Sale | Zillow

Zillow has 45844 homes for sale. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.

www.zillow.com

Start now Home value Zestimate $21,745,900 Zestimate range $15.87M - $29.36M Last 30-day change
Highest Market value of this property: $29,360,000
Tax value of this property: the most: $18,923,660
A 64% of market value...

So in the Trump case using the same ratios Trump has done as O'Leary says..
"every single real estate developer everywhere on earth does this. "

What on earth would you expect him to say?
BTW, its a logical fallacy to claim no harm no foul.

 

[Clipper]

What makes your ignorant ass relieve I’m a Trump supporter? Do you assume that because I think you’re an idiot?

Only an idiot like you would excuse fraud because allegedly "everybody does it".

You're a goddam fool.

 

[tahuyaman]

Only an idiot like you would excuse fraud because allegedly "everybody does it".

You're a goddam fool.

Show me where I excused fraud?

What I’m saying is that you are so stupid that you have no idea how that type of business is conducted and that real property has more than one assigned value. You are a complete idiot. A cat is smarter than you.

 

[Clipper]

Show me where I excused fraud?

What I’m saying is that you are so stupid that you have no idea how that type of business is conducted and that real property has more than one assigned value. You are a complete idiot. A cat is smarter than you.

Trump has already been found to have committed fraud, you fucking CLOWN.

What O'Leary is claiming is irrelevant to Trump's case.

You're either one of the Banksters that O'Lrary rants about or you're an imbecile.

Now, fuck off.

 

[tahuyaman]

Trump has already been found to have committed fraud, you fucking CLOWN.

What O'Leary is claiming is irrelevant to Trump's case.

You're either one of the Banksters that O'Lrary rants about or you're an imbecile.

Now, fuck off.

Is the English language something you understand? If you claim to have a strong grasp of the English language, then you must be mentally ill.

You can have an expert in the industry explain a legal and proper business concept to you in terms a 12 year old could understand and you still don’t get it. You must be mentally retarded.

 

[Clipper]

Is the English language something you understand? If you claim to have a strong grasp of the English language, then you must be mentally ill.

You can have an expert in the industry explain a legal and proper business concept to you in terms a 12 year old could understand and you still don’t get it. You must be mentally retarded.

I told you to fuck off. Do YOU not understand English, or are you just a CLOWN?

 

[tahuyaman]

I told you to fuck off. Do YOU not understand English, or are you just a CLOWN?

Is that supposed to mean something to me?

 

[Captain Caveman]

So what? O'Leary just blew the whistle that the real estate market is run by developers who are all committng fraud, along with Wall St. banksters. So Trump should be let off the hook?

Should we let all drug dealers & drug lords off the hook because most of them are getting away with it?

A while back, I had a house to get rid of and estate agents said £170,000. I said, "Nope, £240,000, that's the value I believe it's worth".

Sold for £220,000. Did I commit fraud?

If I kept the house, got a secured loan on it, the bank didn't value the house cos I said £240,000, then is that fraud?

The value of something to you is what you perceive that value is. A sentimental handed down item in the family is priceless, isn't it?!? The actual price of an item is only known when you sell it, because that's what the market offers. And if a bank doesn't get an asset valued and then provide a secured loan on it, they shouldn't be in business, or they like to gamble.

 

[justoffal]

What he did was mislead about the size.

How Forbes Exposed Trumpâs Lies About The Size Of His Penthouse

I'll make this simple for you. Bank is willing to loan 80% of value. Value is somewhat easy to state. Say it's (just to keep it easy) $200 a square foot. So your property is 200 square feet.

The bank is willing to loan 80% of that. Trump claims his property is 500 square feet to get more money.

Now is it also on the banks for not actually doing their due diligence? Absolutely, and that is why we need people to overlook and prosecute this stuff. Should the bankers also be in court? Absolutely.

But none of that doesnt mean Trump isn't guilty.

How Forbes Exposed Trumpâs Lies About The Size Of His Penthouse

There's no way the bank didn't inspect. NOT EVER GONNA HAPPEN.

Trump is guilty but he's also an inseparable component of a massive syndicated industry wide practice.

Nevemind nonexistent square footage....I've seen nonexistent whole buildings get financed. I have yet to see any prosecutions. You have to remember that a good number of house and Senate members are also big landlords....things always seem to work out if you know what I mean.

SOOO I remain unconvinced that a puny district court system will be able to pursue this issue effectively before running into a wall that they cannot breach because it's too damn big.

 

[tahuyaman]

A while back, I had a house to get rid of and estate agents said £170,000. I said, "Nope, £240,000, that's the value I believe it's worth".

Sold for £220,000. Did I commit fraud?

If I kept the house, got a secured loan on it, the bank didn't value the house cos I said £240,000, then is that fraud?

The value of something to you is what you perceive that value is. A sentimental handed down item in the family is priceless, isn't it?!? The actual price of an item is only known when you sell it, because that's what the market offers. And if a bank doesn't get an asset valued and then provide a secured loan on it, they shouldn't be in business, or they like to gamble.

The idiot you addressed that to doesn’t get it.

He believes if a government official says your property is worth a certain amount, that it. You are required to abide by the dictates of government. He’s a typical American government worshipping liberal

 

[tahuyaman]

There's no way the bank didn't inspect. NOT EVER GONNA HAPPEN.

Trump is guilty but he's also an inseparable component of a massive syndicated industry wide practice.

Nevemind nonexistent square footage....I've seen nonexistent whole buildings get financed. I have yet to see any prosecutions. You have to remember that a good number of house and Senate members are also big landlords....things always seem to work out if you know what I mean.

SOOO I remain unconvinced that a puny district court system will be able to pursue this issue effectively before running into a wall that they cannot breach because it's too damn big.

When lending institutions are lending someone hundreds of millions of dollars, they execute their due diligence and verify the applicant’s information. They don’t simply take someone’s word for it.

 

[justoffal]

When lending institutions are lending someone hundreds of millions of dollars, they execute their due diligence and verify the applicant’s information. They don’t simply take someone’s word for it.

Yup... This thing is much bigger than a district court can handle IMO.