‘Mr. Wonderful’ slams Trump ruling: ‘You might as well find guilty every real estate developer on Earth’

[martybegan]

Calling Trump’s valuation an appraisal is overly generous.

His valuation assumed that the mansions were already built.

They weren’t.

They couldn’t.

If he were to sell the land now, he would not be able to tell anyone that it had seven mansions to sell. Therefore, he can’t tell the bank it’s worth more because it has mansions.

If he tried to sell non existent mansions, that would be fraud.

Land still had the potential for development, and that adds to it's value, even if the development faced hurdles.

 

[Marener]

If he tried to sell non existent mansions, that would be fraud.

Land still had the potential for development, and that adds to it's value, even if the development faced hurdles.

If he says the property is worth $161 million because it has mansions on it, it’s also fraud. And that’s what he said in his financial statement.

The potential for development is worth less than the actual development. Especially when it’s uncertain if the development could ever happen in the first place. That’s why he can’t claim its value is based on the presence of the mansions.

 

[martybegan]

If he says the property is worth $161 million because it has mansions on it, it’s also fraud. And that’s what he said in his financial statement.

The potential for development is worth less than the actual development. Especially when it’s uncertain if the development could ever happen in the first place. That’s why he can’t claim its value is based on the presence of the mansions.

it's not fraud until he actually does a transaction that defrauds someone.

The collateral never got called in, so the assumed value became moot. The bank got repaid with the contract interest.

 

[Nostra]

If you claim that strat was signed by Jimmy Paige and it was actually signed by you… that’s fraud

More fantasies. You clowns have zero connection to the real world.

 

[Marener]

it's not fraud until he actually does a transaction that defrauds someone.

The collateral never got called in, so the assumed value became moot. The bank got repaid with the contract interest.

Getting a loan was the transaction. The loan rate is determined at least in part by the financial statement. A better financial condition means less risk and means better interest rate.

There were reasons for Trump to inflate his net worth. That’s why he took so much trouble to do so.

 

[Orangecat]

If you claim that strat was signed by Jimmy Paige and it was actually signed by you… that’s fraud

Maybe I am Jimmy Paige.
Regardless, I can still set any value I’d like upon it.

 

[OldFlame]

If you claim that strat was signed by Jimmy Paige and it was actually signed by you… that’s fraud

Gee, all of those people who are on Pawn Stars that find out their authentically signed object wasn't authentically signed should go out and press criminal charges on whoever thy bought it from.

 

[OldFlame]

Nope.

It was rhetorical, it's obvious that you are not.

 

[OldFlame]

All businesses use them.

Because it's the law?

 

[martybegan]

Getting a loan was the transaction. The loan rate is determined at least in part by the financial statement. A better financial condition means less risk and means better interest rate.

There were reasons for Trump to inflate his net worth. That’s why he took so much trouble to do so.

which the bank agreed to, it's not an automatic thing.

still not fraud, because no one was defrauded.

 

[Marener]

Because it's the law?

Because they’re potentially committing fraud if they don’t.

 

[Lesh]

Gee, all of those people who are on Pawn Stars that find out their authentically signed object wasn't authentically signed should go out and press criminal charges on whoever thy bought it from.

If they paid big bucks and they can prove there was fraud… hell yeah

 

[SeaMajor7]

If you claim that strat was signed by Jimmy Paige and it was actually signed by you… that’s fraud

Page rarely played a Strat, idiot.

 

[OldFlame]

Because they’re potentially committing fraud if they don’t.

So if you don't use best practice accounting principles you're breaking the law?

 

[Marener]

which the bank agreed to, it's not an automatic thing.

still not fraud, because no one was defrauded.

You’re not allowed to submit false financial statements to the bank. That’s fraud.

Its common sense.

 

[Marener]

So if you don't use best practice accounting principles you're breaking the law?

Generally accepted accounting practices. These are the basic rules of finance.

If you don’t follow them, you could be committing fraud.

 

[OldFlame]

Page rarely played a Strat, idiot.

He was a Gibson guy?

 

[Marener]

It was rhetorical, it's obvious that you are not.

I never claimed to be.

 

[OldFlame]

Generally accepted accounting practices. These are the basic rules of finance.

If you don’t follow them, you could be committing fraud.

You don't know the answer to my question, do you?

In what way could you potentially be committing fraud?

 

[SeaMajor7]

He was a Gibson guy?

Hell YEAH he was.