Everything about the case in New York City against the Trump Organization business operations is ridiculous. There are no victims. There was no fraud. All of the lenders did their own due diligence. All of the loans were paid back without issue, and the statement of financial condition was factual and accurate. There were no defaults or banking interests adversely impacted. There are no victims of what the State calls “fraud.”
New York Attorney General Latisha James campaigned for office with promises to target the Trump Organization and Donald Trump himself. This is malicious Lawfare in the extreme. Additionally, the statute being used as the predicate for the case is a consumer fraud statute, intended to protect borrowers from predatory lenders. In the four corners of this case, Trump is the borrower, and the banks were the lenders. New York is flipping the statute to claim the borrower defrauded the lenders, despite the lenders denying there was any fraud and there was no harm. The entire case is ridiculous.
Appearing on CNN, O’Leary Ventures Chairman Kevin O’Leary outlines, to a perplexed Laura Coates, why Donald Trump’s civil fraud trial in New York is political nonsense. WATCH (prompted):
TRANSCRIPT – O’LEARY: 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 the bank negotiates with you, and says, “Well no, we think it’s worth $400 million,” and you fight it out. You are always trying to show your assets in the brightest light with the sunshine you can possibly determine for them. You want them to be worth the very most because you’re only going to get a 40 to 50 percent loan to value, as it’s called. Then you borrow that money, in the case of a $500 million asset, maybe you get $250 million, and you build the new building with a construction finance loan. So that’s what this case is all about.
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. 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 look, I understand Trump has a lot of problems in other indictments and everything else, but if you’re a real estate developer, you’re watching this and saying, “What is this? This is ridiculous.”
I absolutely believe that you must right now hear the several minutes beyond “the initial transcript.” Because, yeah.
This man, first of all, “talks sense.” Utterly perfect sense. But: he first “talks sense” as a real-estate developer, and then, simply, “as an American voter.”
What every single one of “us” knows right now that is that we’d better start right now manufacturing our toilet paper into “paper ballots.” And then, we’d better start laser-printing every single one of them to say what we want, and then we’d better be beating down the papered-over doors of every so-called “election” center. Or, much more simply, just to update their SQL databases.
Or just keep buying ammunition, food, and supplies.
Yes Alex what is “collar up”!
Buy all you want. If you never use it, it’s just money down the drain. We don’ really need the 2nd Amendment, do we?
😆. Indeed.
Isn’t he Canadian?
its not just REAL ESTATE DEVELOPERS
its the mainstreet, everyday American home owner, small business land owner
its complete BS
Sorry Mike, I’m a Christian, we are taught by our Lord not to lie and cheat and steal. Ps 1
Wristburn, I too am a Christian. Although we should not benefit ourselves and harm others by lying, cheating or stealing, I do not believe our our dear Lord wants us to be total saps.
The “cheat and steal” is placed after the deals are occupying our financial landscape. They make up laws to steal your money and cheat you from success. It has nothing to do with God. Government, specifically IRS is a sham that steals our money with dubious laws that only benefit those in power. Have you seen the number of congress critters that don’t pay taxes?
You want God in the script? He says no borrowers and lenders for profit, that means no car loans no house loans no anything loans. And you can trace the downfall of our country to that sector of business, banks.
So what was lied about, cheated or stolen?
You seem to be quite the liar yourself.
As was explained in the video, the law was meant to protect borrowers from predatory lenders.
Now you want to protect predatory lenders from borrowers.
Pretty sleazy.
ADMIN: My user name “Stu” is showing up but these are not my postings. I am the real deal donator from north of Garbageville / Riot-town with the protonmail address.
Please delete the postings, thanks!
Hi Stu….yes, this is a “new” Stu who showed up at the Treehouse on 12/4/23. We have several over Treepers who have duplicates…best thing I could advise would be to change up your username by: using all caps…adding a number to your name….or perhaps another name added to modify?
Hmm, that’s ok then, I’ll just keep posting the same name as I have for years now.
I’ll just call out the wrong postings as I come across them. It may help the new person choose another user name I imagine.
I like the cut of your jib “real” Stu.
Oh, Stu you, too! /s 😉
It only seems fair to this old coot that newbies choosing a name already in use be offered the choice between changing their name or the door.
The opportunity for maliciousness here is substantial.
That seems fair, though the original would first have to notice a newbie, and register a complaint. Then, admin would have more work. Ideally, the system would prevent signing up for a username that has already been taken. (“Sorry, that username has already been taken. Try again.”)
I used to like our option to have a tag line – mine was, “Does it play in Peoria?” Somebody steals that, my username, and my avatar…and there’ll be words, LoL!
If your name is Stu, why should you choose another name? My name is fairly common and I don’t whine when I see another David on this site or any other site. I intuitively know there is someone else with my name. This is not hard.
It’s going to be 14 yrs. this Feb, and most people find a way to work things out in an amicable way.
“Mike” comes in first place, but “John” is a close second. 😉
That’s nice.
You don’t understand that the person with your same may be posting things you with which you would never agree. Why would anyone want that?!!That is not a good thing imo.
I would be amiss if I didn’t acknowledge that Sundance KEEPS up-to-date records on the replies since (they) are the site-master…having that kind of control keeps EVERYONE honest…I just wish more website(s) did it WITHOUT NEFARIOUS reason…that is ALL…!!!
Mohammad? Wait til that one hits the postings.
Sort know how you feel Stu, even though I doubt anyone would make up a name like mine.
I’m technically no longer in the northwest, but I’ve been kinthenorthwest way over a decade now. kinthenorthwest I will always be.
I hope we don’t run into any fake Lone Watties here!
You should just change it to Real Stu
It seems that the fair thing is for the ‘new Stu’ to have to change his/her name since there is already an old, original Stu.
The new Stu should name himself new Stu .
Stu is stewed
And you’d be, too
If Stu 2 stoled your hue
Tutu?
You’re stewed, buttwad.
I prefer Beef Stu
I prefer Beef Cake!
old stu for 400$ Alex…
The comparison O’Leary tries to make between the lawfare trash the Dims and the left are doing against PDT and the GOP drooling on about impeaching the Demented Fraud couldn’t be more ridiculous. The Demented Fraud actually did commit real crimes vs the totally made up garbage thrown at PDT. At this point the GOP has drug their feet and dillydicked around long enough beginning to impeach the Fraud, it’s totally meaningless.
Exactly.
And it wouldn’t be “suing” Biden in any “court” either.
This seems the way with those seeking to influence or offer an iota of sense to the Left, construct a false equivalence between the illegitimate on one side the the legitimate on the other, otherwise you’re being all partisan and stuff.
How many Kevin’s are here?
Your point?
O’Leary chickened out.
Biden is on China’s payroll.
That is in no way equivalent to the non-crimes True President Trump is charged with by the Nazi Child Molester Regime.
Kevin O’Leary needs to zip it about PDJT other charges, no one asked him that. Big mouth Kevin, your wife was charged with murder, drunk driving a boat. I never liked that scumbag.
Some one asked, yes he is Canadian born in Montreal. Why is he in Miami?
O’leary is q tv personality who’s trying not to alienate the loony moonbat liberals who likely make up a good percentage of his audience
Will use dillydicked around going forward. Attributing it to you here, but too lazy to do each time I use it.
That’s the problem with posting from a phone – typing is a PITA.
Due to the risk assumed by the property owner the property has to be valued higher as the lender will negotiate it downward – but then if the venture fails the lender will then take ownership or sell the collateral property.
Kevin O’Leary didn’t answer something when he was asked whether high valuations would help with taxes. Absolutely not. President Trump would have actually paid MORE in taxes if his properties were assessed higher in value.
Also important to note the county tax assessor values the property for tax purposes. They do not use the owner’s valuation for tax purposes.
Exactly
I noticed this too. What is amazing is how ignorant so many of these cable news “hosts” are. Why O’Leary didn’t correct her is beyond me.
But worse is how many people get their news/education from folks that have no idea what they are talking about.
Whoever asked that question is an even bigger idiot (or devil) than Latisha James.
But the bigger problem is the believer-listeners are just as dumb and/or evil as the news cretins that spew such garbage.
When Trump beats these people I want him to file the greatest lawsuit against them anyone has ever seen. A MOAL, Mother Of All Lawsuits.
Litisha James has an “Achilles’ heel” the size of the old 41 mile Croton Aqueduct tunnel and that
vulnerability that will lead to her downfall.
She has made many enemies in the Vampire State. Republicans and democrats, not least among them is the ‘Luv Gov’ who must lay awake nights mentally building snares to take this guttersnipe down. I pray Trump’s the one that does it.
“She Should be Criminally Liable for This – I Think We Should Be Entitled to Damages” – President Trump Hits Letitia James Outside Courtroom and Fires Warning Shot at New York State (VIDEO)
https://www.thegatewaypundit.com/2024/01/she-should-be-criminally-liable-this-i-think/
This is even true on residential construction loans. I went through the exact same thing when building my house.
Yes, banks NEVER loan the amount of the value of the home when finished. They may give a construction loan of half. And the banks decide, not the borrower.
I would be very surprised if this case is not sustained despite its nonsense all the way to the Supremes where in their Wisdom they will decide to punt saying this is a State matter that raises no Constitutional questions.
Just a guess. Probably wrong.
Well then, thanks for offering your worst.
Do you think a court will throw it out? I don’t. Our legal system is corrupted beyond imagining, I fear.
Raises no Constitutional questions?? Seriously?
What is the constitutional issue involved in this case?
It’s just a piece of paper.
The SC “will punt saying”
They’re political and corrupt, they’ll say what they say, it won’t make it true.
The case is being heard in the Supreme Court for Manhattan. I don’t see any way for it to get into the federal courts.
New York has weird names for its courts, unlike any other state. Here is the path:
New York State Supreme Court for Manhattan (lowest state trial court) >
Appellate Division of the New York State Supreme Court (intermediate state court) >
New York Court of Appeals (the highest court in the state) >
U.S. Supreme Court
ALL state court cases can be appealed to the US Supreme Court, but must first reach the highest court in the state.
They can be, but it’s often a meaningless waste of time since the SC court accepts so few cases and only those cases they believe involve a constitutional issue – that’s their only business. The SC is also the original jurisdiction of one state suing another state. They normally accept cases in which different US Appeals courts rule differently.
Being treated unfairly is wrong, but it’s not necessarily a constitutional issue. Most of the cases the SC hears are civil cases, but often even in these civil cases, there is a constitutional issue at stake from the beginning, such as the Kelo case in Conn, which involved eminent domain and it winded its way through the state courts before the SC accepted to hear that case and this was clearly a constitutional issue.
I’ve not heard one lawyer mention a constitutional issue in this case; perhaps there is and I’m not aware.
But this is relating to a candidate for President of the United States and election interference. OF COURSE it’s election interference, which makes this case a Constitutional issue if there ever was one.
I understand where you are coming from and I agree with you, but I wonder if the courts will be so broad in their interpretation of the case. I did see an article this morning that I have not had time to read in which the headline was Trump’s lawyers are making sure this case has constitutional implications, so I have to assume it will have that angle.
Based on O’Leary’s comments, President Trump should be able to count on amicus briefs from every real estate investor in the world…but I doubt it.
The guy dropped the ball when the chick suggests expanding the courts to take down the entire nation’s cohort of real estate developers, as if the guy was suggesting they were all criminal . . . . the answer is that this activity is not criminal in the least.
By her silly strained logic she herself should be frog marched out on live TV for having the temerity to negotiate the trade in value during her last vehicle transaction.
All the rich guys do it doesn’t get through a noggin this socialist; “YOU do it too” just might.
Don’t like the condescending B saying Bless Your Heart when Mr Wonderful didn’t say what she was trying to guide him to say. What an airhead too, she just didn’t get it and was trying to hold someone accountable for negotiating, assuming it must be illegal. If she had her way, everyone negotiating a loan for their pawned items would be operating outside of the law because they are trying to get a loan for the most amount of money they can, like Bankers and the pawn shop owner are innocent clueless lambs the District Atty needs to protect.
Its no coincidence that POLitics, and POLicy have the same root, because POLitics IS the process for detirmining POLicy,….Public POLicy.
However, the Uniparty does not want to allow the American people to have any input into POLicy decisions, hence they try to keep us distracted with “bread and circuses” and PERSONALITIES and made up bullshyte, because they know they can not win any argument, where they have to defend their horrible policies.
She’s an empty headed stooge; too stupid to see her real estate tax scenario connundrum is entirely dependent on the STATE’S value of Trump’s property, not the value Trump allegedly presented to the bank as standard, real estate negotiation leverage from the potential buyer.
She says, “You can get a tax benefit for having overvalued, or having a different value than is actually normal, doesn’t that deprive the state of revenue?”
They take one thing and then falsely apply it to another thing, twisting it like a pretzel, and then say, “Hey look! That’s illegal!”
Lawfare.
Please could I have my properties over valued so I can pay higher property taxes
“The courts are being used to sway voters.”
No you are wrong.
The courts are being used to ruin Donald Trump.
The funny part is that it’s not just real estate developers who do this. Regular people buying and selling their homes try to push the value up or down based on their goals. Up if selling, down if financing with the bank.
The problem is that the judge is a full on lunatic.
And the prosecutor is a full on predator.
Actually, you need the appraisal UP if financing with the bank. Otherwise buyer will have to come up with more down payment.
He almost said, “as much as it pains me to say …”
“Tell me he’s lying and will go to jail or get off my show old man”!
What’s happening to CNN? Is it joining the real world, or is this an aberration?
Truth telling on CNN is highly frowned upon and the responsible parties will be brought to task.
I don’t think we saw the same interview.
We all know this case is a load of manure. These “prosecutors” ought to be removed from office and DJT should sue their office for attorney’s fees and damages. There needs to be a price paid for malicious prosecution.
Any person who actually watches this show is so devoid of mental constitution that they would never even understand anything the guy said.
The idiot host doesn’t understand that no f’ing crime was committed, and that what the industry does is in no way illegal.
This was one dumb box, and anyone who would watch it is mentally gone.
And where rules and laws are being broken this same empty box sits on her gray perch using the word “migrants” to refer to illegal alien criminals who are breaking laws already in place while she and her Gov. friends aid and abet them.
He’s real estate smart but politically obtuse.
There are 3rd party appraisals done as well. Then bank makes the call on how much they will lend. Crazy to attack the borrower. Especially if he repaid loan in time. This is how banks make their money.
Its a process for RE loans
Apply
Give financial data
Do a 3rd party appraisal based on loan size, request
Bank policy allows for lending up to a percent of appraisal.
…if financial and past credit history sufficient.
Think of the money Trump is spending on legal expenses…Fee’s he can’t get back by suing the state because they’re protected from counter suit for damages by law…It’s about dragging him down financially.
Oh no, Letitia just dropped one in her extra large depends. The racist and the rest of the incompetent corrupt court is going down. That smile on that creepy judge will be gone.
It should be put to her in terms that she can understand, or rather that she can’t twist and distort. She has managed to imply to her audience that something illegal is being done, though “everybody does it” wink, wink.
Ask her about tranding in a car on a new purchase. The dealer says that the car is worth $500, but you say that it’s worth $1,500. Have you broken a law? What law does this dolt think was broken?
You must have because contesting an election seems to be breaking the law as well.
My beloved grandfather used to call that “wheeling and dealing” or “price dickering” … aka doing business!
The hallmark symptom of Trump Derangement Syndrome is an inability to comprehend even the most basic of facts, including the laws of physics and the anatomical difference between a man and a woman.
Well, its not like reality matters here. Its only about injuring president Trump. The results are baked in and there will be no getting around that.
The idea that the “value” of something exists independently of a negotiation shows how idiotic this whole thing is. What’s your house worth? Only what an actual buyer is willing to pay you for it on any given day. And if you are selling your house, you’ll always list it a bit higher than you think you will ultimately get for it, as that’s the starting point for the actual negotiation, once a buyer is interested. So, yea, as O’Leary says, all real estate developers do this. And any private party who has sold a house. Or a car. Or a guitar on Craig’s List. James is an utter moron.
It seems they are trying to walk back their overreach.
I think all of them love their money more than their power trip. They are getting a big wake up call.
Time will tell.
I think Trump should begin to make arrangements to secure a loan against Mar-a-Lago with the intent of using the secured funds to pay his fine in a timely fashion. Pending the outcome of his appeal of course…
Why??
Nonetheless, he is still pretending.
Come on, based my view as a banker, O’Leary was pretty damn weak; in my world, banks lend far more than 40% on value. He should have been stronger; he was just playing the cute media game. The only fraud here is being committed by the prosecution, and while I’d vote for Trump, I don’t think he will be or is our savior from this total mess we are in. He has never put his ego aside to ensure he succeeds.
His ego is a huge piece of the makeup that lets him stare down the mass of assholes trying to keep him from power.
Give me more.
Ah, another concern troll.
I sure hope P Trump wins all of his court cases eventually but I am also concerned for this long time fighter for justice and sanity to prevail in the West. He always reminds me of Rush who is sorely needed now as well.
Did I understand her asking him or wondering out loud if the State had a case because they denied tax revenue for an over valued property?
Wouldn’t that make the tax more? Maybe not immediately but as the assessment cycle goes wouldn’t higher value real estate make the tax base larger.
So really who is the victim in any scenario?
FWIW he sounded like he was going out of his way to sound above it all and impartial or rather apolitical. YOu know that is just not true. He and every other billionaire has skin on the game somewhere.
He has a TV show
Completely unrelated issues. A govt entity issues the assessed values.
The bank valuation / appraisal is set agreed upon by private individuals.
CNN just sets the bar so low. The stupidity of their reporters becomes more laughable with each passing year.
I would like to hear thought on the “tax” angle the CNN anchor brings up? What taxes would the state be deprived of by Trump’s valuations? Loans do not effect the amount of tax due, nor do they effect the property tax valuation when a new building is built, which is the only tax implication I am aware of. What do I not understand? Not the first time I have heard this.
It’s utterly stupid.
If this man was a witness brought in to testify at Trump’s trial the corrupt judge wouldn’t let him or he wouldn’t let him talk. It’s a kangaroo court.
I’d laugh but they are trying to drain Trumps finances while using the unlimited Taxpayers money. Where are the financial controllers in these sewers.
O’Leary is 100% correct, everyone with a clue about finance and real estate knows this.
the lawfare network needs the bulls horns up its ass.
“This is like Godzilla Trump -vs- Bambi Trudeau” – – Kevin O’Leary
And here’s proof that he said it:
https://youtu.be/55bIa_Y9SxI
I am starting to get the feeling that ALL of the cases brought by the EVIL, DESPICABLE Left are now in the process of falling apart before our very eyes.
Consider GA & Fani Fani 2×4’s case. Now there is some hanky panky between Ms. 2×4 & the prosecuting attorney. Throw in some highly questionable billings by the prosecuting attorney for some extra “Flavor” & can there be any doubt that that case is going to get thrown out real soon??
Now we look at the fat Pig James’ & the inept, corrupt & most likely perverted Engoron. We the People see what a judicial farcical this trial is. Anyone who wants to still vote for the Pig James for future political orifice needs their head(s) examined. And as for the inept, corrupt Engoron, that perverted little twit needs a nice long stint in the hoosegow, however, due to that bastard’s perverted views, he may actually LIKE serving time in jail so he can pump iron with the fellow inmates.
And finally, Jerk Smith may have just bit off a tad more than even he can chew with his latest stunt of bypassing Appeals & running straight to the Supremes.
Thank God the Left only has a cadre of Mental Misfits on their team to attempt to prosecute these cases.
This is similarities to January 6. Something that is not a crime can retroactively become one, for just this once.
The DOJ is going to hunt down people for merely being on public property on that date.
A lot of people do not understand the nuances of real estate and loans, which is why so many Americans were conned during the worldwide mortgage scandal.
Please, Kevin, stop presenting facts. After all, THIS…..is CNN.
ALL of these left wing DAs (Letitia James, Fani Willis, et al) concocting false charges against Trump are too corrupt and dumb to realize they are helping him get re- elected. Watch a strong, indefatigueable Trump defend himself and compare with Joe: senile, slow, unable to complete a 5 minute speech without slurring his words, going blank, staring off into space and then saying”well never mind”, shuffling and lying and every day being proven to be more and more involved with Hunter’s financial misdeeds…….Trump will appeal these cases, and win – and be our next President becasue the Bidens are too arrogant(Hunter) and too out of it (Joe) to realize that the American public is on to them.
She tries to make the argument that falsely overvaluing your property DEPRIVES the state of tax revenue. Uhhhh…the more the property is worth the more tax revenue it generates.
And Letitia James has sat in the front row of the court grinning like the cat who ate the canary every day instead of being in her office doing the job she was elected to do….the people of NY (actually the Dems of NYC – cause they are who voted for her) should be incensed . Americans – not just Republicans- see these cases for what they are…and with Biden’s open border, two wars and being a part-time President (he goes days without being seen and when he IS seen, what he is showing the American voting public is NOT reassuring) this nonense is already backfiring on the Dems. Black and Hispanic voters are fed up and looking to Trump to have a vigorous, active, indefetiguable President and the more the House comittee exposes Hunter’s crimes, the lower Joe is going in the polls.
Letitia James and Judge Erdowhat absolutely must be Trump campaign workers. Bravo. It’s working. Keep at It. Yay!
Trump has to beat on his own chest in order to get exposure on mainstream TV. He is used to that. It is commonplace in every business enterprise that needs investment capital. They start by having an IPO day on Wall Street, which always generates a big increase in stock values. This is taught in every Po-dunk business school in America. After the initial re-valuation of the Company, the entrepreneur goes to the banks for a big loan using the large market value collateral earned on the stock market. Pretty similar to the methods politicians always use to raise money.
Latisha James is just another Marxist legal fraudster masquerading as a prosecutor in front of a kangaroo court. This is where meathead jurors can be convinced to vote guilty for no reason that make any sense to the real world with which they have no contact. It may be ridiculous, but Lawfare knows this is the way to torment people they need to push away from the power structure.
I am sick of this abuse of our legal systems. Enough so that if Trump is not on my mail-in ballot in Colorado, I will put his name on my ballot. The Uni-Party better look out because they are going doing down this November. But ALL of us have to try to make our votes count by actually voting . We are the vast majority of the American population, but WE ALL will have to vote. No matter what craziness we endure during the next 10 months, we have to remain committed. If we do, we should win big. If we don’t, we will know that a more radical solution will have to come. One way or another we will have to save Our Republic from becoming Their Democracy!
Laura Coates doesn’t just play a CNN dummy. She is one in real life.
Good grief!