The question which “Get Trump” female is stupider.....Fani Willis or Letitia James?
Letitia James charged that while running his father’s family real estate empire, US President Donald Trump bloated his net worth by a staggering $2 billion.
This is ridiculous on its face.......banks lent the Trumps millions of dollars b/c real estate is mostly leverage.
No bank lends money without a brutal vetting of the applicant’s holdings.
Better people than James.....well-versed in finance......looked at Trump’s holdings and signed off on millions in loans.
I see many posts on FR saying inflated asset values on a mortgage application is no big deal. that is wrong. It’s illegal to knowing lie about asset values on the application. That said, I dont think Trump lied on those applications so it likely comes down to an opinion about what the value is. Nothing illegal about that.
And even if Trump did everything the prosecutor says he did, this would be a civil matter between the lenders and Trump.
None of the lenders have filed suit against Trump in this matter — for two reasons:
1. The loans aren’t in default, which means the lenders have no standing to sue because they can’t demonstrate that they’ve been harmed (which also means there’s no basis for a criminal case).
2. Any bank that sued Trump over this would get laughed out of court for failing to do its own due diligence (through third-party appraisals, for example) before lending money. Imagine being the CEO of a bank testifying in court that you lent money to a customer based on the customer’s own representations about the value of his properties. “My $250,000 home is worth $2 million, Mr. Mortgage Officer. I swear!”
She wants her 250 million. Sounds like extortion.