packgrad said:

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You might have clinical TDS if you justify the political prosecution and verdict in this case. Lol. Bat**** crazy.

I also love how the ****** supporter is so traumatized that Trump had sex with a porn star. Lolol. Seek help dude. You're embarrassing yourself.

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stickwolf said:

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This may have been covered, as I don't visit here much. But help me believe in a system where "Intel community has 6 ways to Sunday" to "get back" at somebody. I really have a problem with this no matter who the victim is. And boy its become apparent that some that somebody could possibly be "getting back" at Trump. So somebody who believes in this kind of "justice" help me understand.

I preface this to say if I was at a service station and heard a cop utter these words about a citizen and then indictments started coming from all over, it would be a problem. Why is this different? Why is this OK?

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Democrat New York Governor Kathy Hochul assured real estate developers that the government will not go after them like they have gone after Donald Trump.

In other words, if you don't make Democrats angry, you won't get sued. But if you do, you'll get the Donald Trump treatment.…

— Ted Cruz (@tedcruz) February 19, 2024

The NY Post is out with my column on the poison pill contained in the recent $455 million judgment against Trump. In order to appeal, he has to come up with that amount or a bond for that amount. Justice Engoron proved that "nothing succeeds like excess.” https://t.co/WX7NlAl0N7

— Jonathan Turley (@JonathanTurley) February 19, 2024

Quote:

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Quote:

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Even the New York Times agreed that it could not find a single case in history where this statute was used against an individual or a company that did not commit a criminal offense, go bankrupt, or leave financial victims.

Engoron then combined that unprecedented application with an equally extraordinary penalty, which is greater than the gross national product of some countries.


He disgorged hundreds of millions in a case where not one dollar was lost by anyone. Indeed, the "victims" wanted to get more business from Trump and are now being prevented from doing so by Engoron.
There is also an added inequity to Engoron's decision.
Under New York law, Trump cannot appeal this ruling without depositing the full amount, including interest, in a court account. Even for Trump, $455 million is hard to come by. Likewise, a bond would require a company to guarantee payment for a defendant who has been barred from doing business in New York and is facing the need to liquidate much of his portfolio.
Nothing succeeds like excess for judges like Engoron. By imposing this astronomical figure, he can make it difficult or impossible for a defendant to appeal, absent declaring bankruptcy or selling off assets at distress prices.
The excessive fine and its basis raise serious statutory and constitutional questions. Many of us believe it should be substantially reduced or tossed out entirely.
First, however, Trump must come up with almost half a billion dollars to park with the court. Even with a bond, the high costs of securing a guarantor could come at a premium. It would cost a fortune to the bond holder just to carry the risk even if Trump prevails on appeal.

But the best that politicians like Hochul and Adams can offer is that you have nothing to fear from confiscatory actions unless you are Trump in New York.
Which is precisely why this decision should be overturned.
What is clear is that this case would never have been brought, let alone result in this massive fine, except for politics.
For example, if you are the NRA, James will seek your destruction for financial irregularities, but if you are Black Lives Matter or Al Sharpton's National Action Network, there is little real risk in such controversies.
If the only protection in New York is the discretion of figures like James, few businesses would relish the future. The message is that you can expect blind and equal justice so long as you don't run afoul of the Democrats in power.

If you are unpopular, you could be looking at not only unprecedented actions and fines, but a need to virtually liquidate your assets just to be able to appeal a decision.

This should shock the conscience of anyone concerned about the integrity and fairness of the New York legal system. Confiscatory fines and required deposits leave not just defendants but the entire system bankrupt.

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No person irrespective of your political orientation should support the grotesque judgment that was rendered recently against @realDonaldTrump. If I understood the case, Trump asked to borrow money from the bank and in doing so, he provided a valuation of his real estate assets…

— Gad Saad (@GadSaad) February 20, 2024

packgrad said:

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Democrats believe Mar-a-Lago is only worth $17 million.

They also believe Hunter Biden’s crack-addled art doodles are worth $500K.

In summation, they believe the property on the left is worth 34 paintings on the right. pic.twitter.com/n4B61KdBc1

— “The Class Act” Ty Cordova (@tuxlemons) February 20, 2024

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The most expensive home in America was just listed for $295 million, a record in the US. It’s a 24,000 sq ft property in Florida.

Mar-a-Lago is 62,000 Sq Ft, almost 3x the size. Judge Engoron and Letitia James said it’s only worth $18 million.

Clearly this Judge and AG… pic.twitter.com/4O062zB6sP

— 🇺🇸Travis🇺🇸 (@Travis_in_Flint) February 17, 2024

caryking said:

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You're a Wall Street guy…

Does a lending company do an appraisal when providing loans?

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packgrad said:

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For the cult

The most expensive home in America was just listed for $295 million, a record in the US. It’s a 24,000 sq ft property in Florida.

Mar-a-Lago is 62,000 Sq Ft, almost 3x the size. Judge Engoron and Letitia James said it’s only worth $18 million.

Clearly this Judge and AG… pic.twitter.com/4O062zB6sP

— 🇺🇸Travis🇺🇸 (@Travis_in_Flint) February 17, 2024

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Civilized said:

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packgrad said:

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For the cult

The most expensive home in America was just listed for $295 million, a record in the US. It’s a 24,000 sq ft property in Florida.

Mar-a-Lago is 62,000 Sq Ft, almost 3x the size. Judge Engoron and Letitia James said it’s only worth $18 million.

Clearly this Judge and AG… pic.twitter.com/4O062zB6sP

— 🇺🇸Travis🇺🇸 (@Travis_in_Flint) February 17, 2024

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For the other cult

Too bad Mar-a-lago isn't a single family residence by zoning. A single-family house on private land isn't a real estate comp for a commercial hotel/resort/social club.

And Trump's biggest problem may not even be his ridiculous overstatements of per square foot value of his properties, it's that he blatantly lied regarding some property's sizes. There's nothing subjective about him stating that his New York condo is 3X the size that it actually is.

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Civilized said:

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caryking said:

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You're a Wall Street guy…

Does a lending company do an appraisal when providing loans?

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Not on all the assets in your portfolio, they don't.

Only on the asset that's serving as principal collateral for their loan.

If Trump got a loan for work at Mar-a-lago and the bank was using the MAL property to secure their construction loan they'd appraise it.

They wouldn't also appraise all the other properties you list on your personal financial statement or global debt schedule.

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packgrad said:

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Civilized said:

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packgrad said:

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For the cult

The most expensive home in America was just listed for $295 million, a record in the US. It’s a 24,000 sq ft property in Florida.

Mar-a-Lago is 62,000 Sq Ft, almost 3x the size. Judge Engoron and Letitia James said it’s only worth $18 million.

Clearly this Judge and AG… pic.twitter.com/4O062zB6sP

— 🇺🇸Travis🇺🇸 (@Travis_in_Flint) February 17, 2024

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For the other cult

Too bad Mar-a-lago isn't a single family residence by zoning. A single-family house on private land isn't a real estate comp for a commercial hotel/resort/social club.

And Trump's biggest problem may not even be his ridiculous overstatements of per square foot value of his properties, it's that he blatantly lied regarding some property's sizes. There's nothing subjective about him stating that his New York condo is 3X the size that it actually is.

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No cult here. Y'all are the deranged losers justifying this partisan prosecution and verdict. Fascists.

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Dear Cardone Capital team,

Immediately discontinue ALL underwriting on New York City real estate. The risk outweigh the opportunities at this time.

Recent political decisions will continue to deteriorate price and benefit states that don’t have these challenges.

Focus on Texas… pic.twitter.com/nTdJ5d4dO5

— Grant Cardone (@GrantCardone) February 20, 2024

SmaptyWolf said:

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packofwolves said:

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So do you agree $18 million is absurd?

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If it's absurd, why did Trump happily pay property taxes on an $18 million valuation?

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SmaptyWolf said:

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packofwolves said:

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SmaptyWolf said:

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packofwolves said:

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So do you agree $18 million is absurd?

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If it's absurd, why did Trump happily pay property taxes on an $18 million valuation?

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As a commercial operating club, the tax assessor used the income based approach combined with the cap rate. This same approach is used for the other commercial properties/businesses in the county.

This is NOT the same as market value that would be calculated if the property is put up for sale.


I don't know why I continue to respond to your ridiculous posts. Guess it's time for the ignore list again.

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Yes, I'm sure the Deed of Conservation and Preservation that Trump signed had nothing to do with the artificially low valuation.

Trump claimed on his applications that the property was in fact worth $1.5 BILLION. So do you think $1.5 BILLION is absurd?

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Civilized said:

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caryking said:

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Civilized said:

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caryking said:

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You're a Wall Street guy…

Does a lending company do an appraisal when providing loans?

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Not on all the assets in your portfolio, they don't.

Only on the asset that's serving as principal collateral for their loan.

If Trump got a loan for work at Mar-a-lago and the bank was using the MAL property to secure their construction loan they'd appraise it.

They wouldn't also appraise all the other properties you list on your personal financial statement or global debt schedule.

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So, for collateral, on loans, Trump Org put up all, or some of the assets to secure these loans on their personal financial statements. Haven't you done this before?

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Banks need the PFS for their file but the only asset you're "putting up" is the one they put a lien on, which normally is only the subject property.

You aren't "putting up" the assets on your PFS to secure the loan.

You're using their stated value (less associated debt) to substantiate your overall wherewithal to banks so that they can gauge the risk to them in the event of default on the loan they're getting ready to give you. They need to see how the house of cards is built so they can gauge the probability of it all crashing down if one or multiple of your projects/properties fail.

If I'm building a new hotel wing on Mar-a-lago and I go to the bank for that construction loan, they'll likely appraise Mar-a-lago because that's the property that they'll lien.

But if I'm building a new Trump Tower in Manhattan, the bank is going to use that building and land to collateralize the loan. I'm going to list Mar-a-lago as an asset on my PFS, along with all my other assets, as a demonstration of wherewithal to get the Trump Tower loan but those properties are not being "put up" in the way that you mean.

The bank won't appraise MAL and all my other properties in conjunction with building Trump Tower in Manhattan; they'll just appraise the new Trump Tower to ensure the required loan-to-cost and loan-to-completed-value ratios are maintained.

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