Investors Flee New York on Heels of Outrageous Trump "Fraud" Ruling

Grokmaster said:
Trump Fraud Ruling Could Devastate New York Economy

....If the rulings stand, “blue-state politicians may have the satisfaction of ‘sticking it’ to Messrs. Trump and Musk, but the loss to those states will be significant,” the op-ed continues.

That already appears to be the case, as some business leaders have indicated they are shutting down operations in the Empire State.

As Fox Business reported shortly after the Trump ruling was handed down, “Some nationwide real estate investors, like Cardone Capital’s Grant Cardone, have started telling their teams to pack their bags and leave New York after the verdict in former President Trump’s fraud trial.”

Cardone told the network that when he heard about the verdict, “it was like, pencils down. Don’t touch it. Don’t go there.”

“Shark Tank” star Kevin O’Leary has also announced that he will no longer be investing in “loser” New York, saying that he “can’t even understand or fathom the decision at all.” O’Leary advised other real estate investors to follow suit and told The New York Post that he had heard from several peers in the business world who intended to shun New York.

In a separate interview with NewsNation, O’Leary added that the Trump judgement came from a “rogue judge,” referring to Judge Arthur Engoron, who decided the case. As Rich Lowry wrote for National Review, Engoron’s decision “is the handiwork of an elected Democratic judge in a case brought by an elected Democratic prosecutor [New York Attorney General Letitia James] who pledged in her election campaign to pursue Trump.”

O’Leary and other real estate experts have likewise noted the absurdity of the case against Trump, which is based on claims that he inflated the actual value of his real estate holdings in order to secure more favorable loan terms for future projects. As O’Leary put it when discussing the case last year, “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.”

As Bush and Lonsdale also noted in the Journal, “Bankers from Deutsche Bank, which lent money to Mr. Trump, testified that they were satisfied with having done so, given they were paid back on time and with interest. They also testified that they were uncertain whether the alleged exaggerations would have affected the terms of the loans to Mr. Trump—a key part of Ms. James’s case.”


https://amac.us/newsline/economy/tr...hortly,former President Trump's fraud trial.”
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O'Leary, a Canadian, runs a fund that loses money for investors. Notwithstanding his claims to be a genius.

Anyone who might be leaving NY is doing so because they can no longer cheat on their taxes and business loans.

Good riddance
 
T. A. Gardner said:
So, you think commercial lenders are morons and don't do their homework...
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A question you wouldn’t ask if you were familiar with commercial lending practices. Also beside the point. A fraudulent representation is fraud whether or not the party lied to had other means of knowing the truth.

But I agree with your argument that bankers should know better than believe what Donald Trump tells them.
 
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Althea said:
O'Leary, a Canadian, runs a fund that loses money for investors. Notwithstanding his claims to be a genius.

Anyone who might be leaving NY is doing so because they can no longer cheat on their taxes and business loans.

Good riddance
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Cardone is one of the biggest investors in the country, and they are pulling $billions from already struggling NYC.

Your madeup bullshit convinces only you; the investors told us the REAL REASON they are dumping NY and its Stalinist leftist bullshit.

The chickens started coming home to roost quickly after Endgoran's Kangaroo court...
 
martin said:
A question you wouldn’t ask if you were familiar with commercial lending practices. Also beside the point. A fraudulent representation is fraud whether or not the party lied to had other means of knowing the truth.

But I agree with your argument that bankers should know better than believe what Donald Trump tells them.
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Your fullashit.

I'l take what the actual real estate investors say, over your madeup nonsense:

.."In a separate interview with NewsNation, O’Leary added that the Trump judgement came from a “rogue judge,” referring to Judge Arthur Engoron, who decided the case. As Rich Lowry wrote for National Review, Engoron’s decision “is the handiwork of an elected Democratic judge in a case brought by an elected Democratic prosecutor [New York Attorney General Letitia James] who pledged in her election campaign to pursue Trump.”

O’Leary and other real estate experts have likewise noted the absurdity of the case against Trump, which is based on claims that he inflated the actual value of his real estate holdings in order to secure more favorable loan terms for future projects. As O’Leary put it when discussing the case last year, “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.”

As Bush and Lonsdale also noted in the Journal, “Bankers from Deutsche Bank, which lent money to Mr. Trump, testified that they were satisfied with having done so, given they were paid back on time and with interest. They also testified that they were uncertain whether the alleged exaggerations would have affected the terms of the loans to Mr. Trump—a key part of Ms. James’s case.”




.
 
Grokmaster said:
The inane attack on Trump is an attack on NYC real estate investment. They know Trump did nothing unusual, or illegal.

Great job, left morons.


Screwover your own city with your desperation to "Get Trump"!





Real estate investor to 'immediately discontinue' working in NYC over Trump verdict, eyeing Florida, Texas


Some nationwide real estate investors, like Cardone Capital’s Grant Cardone, have started telling their teams to pack their bags and leave New York after the verdict in former President Trump’s fraud trial.






https://www.foxbusiness.com/real-es...tinue-working-nyc-trump-verdict-florida-texas




[video=youtube;qzjsTUk9xmI]https://www.youtube.com/watch?v=qzjsTUk9xm
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Oh, wow! One guy left! Well, that does it for me. Great post!

:middlefingerbang:
 
T. A. Gardner said:
So, you think commercial lenders are morons and don't do their homework...
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Yep, let the lender beware! So you're suggesting we all try to falsify our financials to get large loans? Hey, as long as we pay the money back, no harm done, right? What if I robbed a bank then returned the money with interest? Is that ok, too?

I love trumptard logic.
 
LurchAddams said:
Yep, let the lender beware! So you're suggesting we all try to falsify our financials to get large loans? Hey, as long as we pay the money back, no harm done, right? What if I robbed a bank then returned the money with interest? Is that ok, too?

I love trumptard logic.
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No, I'm saying three things:

1. What I claim a property is worth can be far different from what a lender thinks it's worth. My saying it's worth more isn't fraud or falsifying anything.

2. The lender must do due diligence, and they do.

3. If the loan gets paid back in full then it makes ZERO difference what the original claims on worth of assets were, ZERO.

Your last part of that about bank robbery is a false analogy tied to a complex question fallacy.

Now, if you were to lie about your financial worth to the point you got loans and quickly or immediately had no way to pay them back, that's a different story. Now you could be looking at fraud. That is how the New York law worked up to Trump. With the Trump verdict, in New York any developer could be taken to court by the state because they put numbers on assets that the state disagrees with. Nothing more needed. Then, the state can render a verdict and fine the defendant for huge piles of money based on nothing more than their disagreeing with the defendant's claimed valuation on real estate.
 
Grokmaster said:
Your fullashit.

I'l take what the actual real estate investors say, over your madeup nonsense:

.."In a separate interview with NewsNation, O’Leary added that the Trump judgement came from a “rogue judge,” referring to Judge Arthur Engoron, who decided the case. As Rich Lowry wrote for National Review, Engoron’s decision “is the handiwork of an elected Democratic judge in a case brought by an elected Democratic prosecutor [New York Attorney General Letitia James] who pledged in her election campaign to pursue Trump.”

O’Leary and other real estate experts have likewise noted the absurdity of the case against Trump, which is based on claims that he inflated the actual value of his real estate holdings in order to secure more favorable loan terms for future projects. As O’Leary put it when discussing the case last year, “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.”

As Bush and Lonsdale also noted in the Journal, “Bankers from Deutsche Bank, which lent money to Mr. Trump, testified that they were satisfied with having done so, given they were paid back on time and with interest. They also testified that they were uncertain whether the alleged exaggerations would have affected the terms of the loans to Mr. Trump—a key part of Ms. James’s case.”




.
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Complete misstatement. Trump's liability isn't based on what he "talked about his asset being worth". It's based on the fraudulent data he presented to the bank to justify what he said the property is worth.
 
martin said:
Complete misstatement. Trump's liability isn't based on what he "talked about his asset being worth". It's based on the fraudulent data he presented to the bank to justify what he said the property is worth.
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And then undervalued the same properties for tax purposes.
 
Grokmaster said:
Cardone is a nationwide GROUP of real estate investors, who had invested heavily in NY, cancelled $billions of business....how easily you lie to yourself is amusing.
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Really? Where did the invest in NYC? According to their website all their major investments are in Florida and Texas with one investment in Arizona, Georgia and Alabama.

I don't lie to myself. I rely on actual facts which is why I checked their investment page on their website.
https://cardonecapital.com/investments/

Are you accusing Cardone of violating SEC rules by using investor money in places they don't tell them about?
 
T. A. Gardner said:
No, I'm saying three things:

1. What I claim a property is worth can be far different from what a lender thinks it's worth. My saying it's worth more isn't fraud or falsifying anything.

2. The lender must do due diligence, and they do.

3. If the loan gets paid back in full then it makes ZERO difference what the original claims on worth of assets were, ZERO.

Your last part of that about bank robbery is a false analogy tied to a complex question fallacy.

Now, if you were to lie about your financial worth to the point you got loans and quickly or immediately had no way to pay them back, that's a different story. Now you could be looking at fraud. That is how the New York law worked up to Trump. With the Trump verdict, in New York any developer could be taken to court by the state because they put numbers on assets that the state disagrees with. Nothing more needed. Then, the state can render a verdict and fine the defendant for huge piles of money based on nothing more than their disagreeing with the defendant's claimed valuation on real estate.
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The Trump crime family engaged in outright fraud by keeping 3 sets of books:

1. For the banks exaggerating their properties and square footage in such ridiculous ways. You're claiming that the banks should have sent people to measure their rooms? What an incredibly dumb thing to say that the banks should send out people with tape-measures to every loan applicant?!

2. For taxing authorities, undervaluing the worth of their properties in order to underpay their tax liabilities. Again, you think the local, state and Federal department of revenues have time to come out and measure rooms? Get real.

3. I assume the Trump crime family kept one correct set of books for their recordkeeping.

Your claim that robbing and bank and returning the money with interest being a false analogy is your opinion based on your fandom of the mango menace and your hatred of anything Democrat. It's pretty clear.

Nice try tho!
 
Grokmaster said:
The inane attack on Trump is an attack on NYC real estate investment. They know Trump did nothing unusual, or illegal.

Great job, left morons.


Screwover your own city with your desperation to "Get Trump"!





Real estate investor to 'immediately discontinue' working in NYC over Trump verdict, eyeing Florida, Texas


Some nationwide real estate investors, like Cardone Capital’s Grant Cardone, have started telling their teams to pack their bags and leave New York after the verdict in former President Trump’s fraud trial.






https://www.foxbusiness.com/real-es...tinue-working-nyc-trump-verdict-florida-texas




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Investors are starting to realize that you cannot make any money in an oligarchy or dictatorship. New York, with it's kangaroo courts and hatred to productive members of society, is getting very anti-business. I really don't blame the investors for leaving.

Further, truckers are reducing their deliveries to New York City, leaving the city in an effective siege. Shortages are already showing up in New York City as a result.

I support the Truckers for Trump. Trump recognizes the hard work these people do, and how they get screwed by the Democrats time and time again.

New York City is about to get the full reaping of what they have sown.
 
martin said:
So commercial borrowers in NY need to be left alone when they represent to their lender an asset size is 30,000 square feet when it's 10,000 square feet?
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Yes. Whether the loan is actually made is between the bank and the loan applicant and NO ONE ELSE!
 
martin said:
If you were smarter than that you would be able to complete a comment with something better than "..............." or not start something you're incapable of completing in the first place, but then again, you've shown you're not.
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Try English. It works better. Keep this up, and you're going to start sounding like Salty.
 
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