NoIdeaWhatToUseHere
30498
854
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Sauce: https://apple.news/Af9xzZhyNSJiHFHaujaOuVw
He has two properties that he claimed were principal residences yet never lived there. Surprised?
A couple excerpts from the article I thought were interesting:
“But Trump’s two loans, they said, exceed the low bar the Trump administration itself has set for mortgage fraud.”
“Given Trump’s position on situations like this, he’s going to either need to fire himself or refer himself to the Department of Justice,” said Kathleen Engel, a Suffolk University law professor and leading expert on mortgage finance. “Trump has deemed that this type of misrepresentation is sufficient to preclude someone from serving the country.”
DocFunkenstein
:O
gayvillian
Since they can be prosecuted for the same petty bullshit, they never intend to leave
TheGreyGryphon
Are ppl forgetting theTHIRTY FOUR COUNTS OF FRAUD HE WAS ALREADY FOUND GUILTY OF!?
waznewz
The Tangerine Palpatine is caught up in a financial scam again you say?
I am shocked... Or something
earthwormulljim
Always projection.
Every accusation is a confession.
flexsidepick
https://media4.giphy.com/media/v1.Y2lkPTY1YjkxZmJlMWNmcGd2ZTdzcDdlNHJ3anRnMng3MjV2OXF2ejJ4ZXU0MWxyOXpvbCZlcD12MV9naWZzX3NlYXJjaCZjdD1n/lTB6FKY1fmAZhhv1En/200w.mp4
evilspock
Remember the cardinal rule with Donny: every accusation is a confession.
Every
Single
One.
db629
shocked…
PorneliusHubertII
Every accusation is a confession.
clonedeeznuts
I'm sure a Nazi judge is in need of an all expense paid for vacation so nothing to see here
Munchman347
'It's not illegal if the Dictator does it...' /s?
whereismymind86
As always, every accusation is a confession.
magical8ball
> The spokesperson added, “this is yet another desperate attempt by the Left wing media to disparage President Trump with false allegations,” and said, “President Trump has never, or will ever, break the law.”
I guess those 34 counts of falsifying business records doesn't count.
SuperFerret
Hold on, you're telling me that the man who has been known primarily for shady real estate deals for decades committed real estate fraud?
IconicM
https://media4.giphy.com/media/v1.Y2lkPWE1NzM3M2U1aDV3dnY2MDN2dzIzcWExdnJ3M3VlZDdwY3hkM2k1OGE4Z2R2YXZmMiZlcD12MV9naWZzX3NlYXJjaCZjdD1n/clotJg9IqBitMcRJ61/200w.webp
SocoFox
Hello? Every accusation, you say?
OperatorWay
He's only been in many fraud lawsuits and bankrupted many businesses, so surely his finances are impeccable, right?
gtollie
I’m sure Bondi and the DOJ is hard at work burning the middle oil on the charging decision.. heck they can use the same grand jury that already assembled for Letitia James 😉
michaelfire
I can date this before Trump became a Russian stooge- before the Epstein/Putin suspected blackmail, after which trump had unlimited Russian funding from Putin's Deutchebank to do Russia's bidding https://www.dw.com/en/driven-by-greed-the-deutsche-bank-story-putins-bank/a-68775868775818">https://www.dw.com/en/driven-by-greed-the-deutsche-bank-story-p">18 h">68775818">https://www.dw.com/en/driven-by-greed-the-deutsche-bank-story-putins-bank/a-68775818 https://www.wnycstudios.org/podcasts/trumpinc/episodes/trump-inc-trump-deutsche-bank-its-complicated https://foreignpolicy.com/2016/07/25/is-trump-a-russian-stooge-putin-dnc-wikileaks/
1
michaelfire
for example buy a bunch of golf clubs and engage in "locker room talk", likely blackmail with 17yo "locker room attendants" just like his palls David Pecker, Epstein Epstein Honey Trap-Google Maxwell's father, Israel ties https://www.timesofisrael.com/for-writer-who-broke-epstein-case-a-rumored-mossad-link-is-worth-digging-into ">ing-into">https://www.timesofisrael.com/for-writer-who-broke-epstein-case-a-rumored-mossad-link-is-worth-digging-into https://www.rollingstone.com/culture/culture-features/jeffrey-epstein-steven-hoffenberg-intelligence-agencies-spy-1197708/ 2
michaelfire
http://www.jpost.com/israel-news/jeffrey-epsteine-674244">http:-may-hav">e-674244">http://www.jpost.com/israel-news/jeffrey-epstein-may-have-h//www.jp">-may-hav">e-674244">http://www.jpost.co">ad-links">//www.jp">-may-hav">e-674244">http://www.jpost.coa>ost.co">ad-links">//www.jp">-may-hav">e-674244">http://www.jpost.co>m/israel-news/jeffrey-epstein-may-have-had-links-to-israeli-leaders-the-rolling-stone-674244 www.nytimes.com/2019/08/12/business/jeffrey-epstein-interview.html /gallery/arpNy8U https://www.theguardian.com/technology/2019/feb/09/jeff-bezos-trump-national-enquirer-amazon-david-pecker https://time.com/7322750/epstein-blackmail-lutnick-allegations/ https://www.motherjones.com/politics/2017/07/trump-putin-propaganda-warfare/
Clockworkdancerobot
It's all to hide his crimes and excuse others for money. For these issues, nothing happens without putting pressure on legislators and investigative bodies. They're NOTORIOUSLY lazy. But we all kept giving up over the years, so here we are.
NicVerbo
That was close. If all that this revealed Trump fraud does is "preclude someone from serving the country" then he can carry on as US President serving himself, Putin and Thiel. Trump has never served his country.
michaelfire
Epstein Honey Trap-Google Maxwell's father, Israel ties https://www.timesofisrael.com/for-writer-who-broke-epstein-case-a-rumored-mossad-link-is-worth-digging-iing-into">https://www.timesofisrael.com/for-writer-who-broke-epstein-case-a-rumored-mossad-linto ">ing-into">https://www.timesofisrael.conk-is-wo">nto ">ing">m/for-wr">nk-is-wo">nto ">ing-into">https://www.timesofisrael.com/for-writer-who-broke-epstein-case-a-rumored-mossad-link-is-worth-digging-into https://www.rollingstone.com/culture/culture-features/jeffrey-epstein-steven-hoffenberg-intelligence-agencies-spy-1197708/ http://www.jpost.com/israel-news/jeffrey-epstein-may-have-had-links-to-israeli-leaders-the-rolling-stone-674244 www.nytimes.com/2019/08/12/business/jeffrey-epstein-interview.html /gallery/arpNy8U
bippityboppitybuttsex
Every accusation.... he should be indicted and flensed.
ThatGuyInTheMountains
More flensing! There isn't enough nowadays I always say.
SordFish909
Good vocabulary!
JustDriftingAboutTheInterWebs
"It's only fraud when democrats do it, otherwise it's acceptable. "
Elkarlo77
TBF, when he committed this fraud, he was more aligned with the democratic party. So he should go into prison again for it.
Snooj
"Otherwise it's the Democrat's fault that we did it."
malbec
Acceptable, and encouraged!
ZeroZeta
It's only fraud when done by democrats otherwise it's just sparkling hypocrisy.
Hibbtygibitty
Sparkling hypocrisy….i like that.
JarJarDrinks
Why does a billionaire need to take out a mortgage?
inconsistantsource
They don't have all that money in cash assets it's genraly tied up in properties businesses employee wages ect . It not like good old scrooge mcduck
rshini
Cheaper than buying it, shades of the old joke about a man taking out a loan and uses his rolls-royce for collateral, when the bank realize he's a billionaire, he explained the loan was cheaper than paying for a secured parking spot.
OneUniverse
So he can declare bankruptcy, and not pay it.
PirateArrrgument
Because billionaires leverage non liquid assets to take on debt, using the loaned money to increase the value of their non liquid assets and live off of, then take out larger loans of their increased valuation to pay off previous loans and continue to live on, all without ever selling any assets and therefore never paying capital gains taxes, worrying of the debt on other income, and eventually dying with their assets in trust for their heirs and the debt currently outstanding never repaid.
TheRealArclight
or file for bankruptcy...
HowlingRollercoaster2
Tax write offs, use the loan/cash for other investments, etc
dynamojoe
There could be valid reasons. If this is the mid-90s... let's say a house is $100k and you have $100k in the bank. If you think you'd make more money with your $100k in investments than you'd lose in interest, it makes sense to take the loan and invest. Since you're a billionaire, you're definitely going to get the best interest rate. If you're not going to live in it, maybe you rent it out to generate income.
Clockworkdancerobot
To further explain: The super rich buy properties and then take out ELOCs out against them. Since billionaires are so low risk, they get VERY good rates. These ELOCs work like fancy credit cards to do day to day business and they only have to move money around every so often.
getadogupya
You don't get rich by spending your own money!
Clockworkdancerobot
A they say, it's Free Money. Economics Explained: https://youtu.be/ZmEvAk5LRko?t=512 This is the world of banking available to the billionaire class. very low interest loans that they can turn around and borrow against.
Skawomplious
That's how they get to be billionaires. Borrow money, use that as collateral to borrow more money, use that as collateral to borrow more money, etc etc until the house of cards falls down and then you declare bankruptcy and start over.
Clockworkdancerobot
And stiff a few people along the way. You don't get rich always paying your bills.
OperatorWay
Comet260
What does a man of god need with a private jet?
mjperk
Except Trump is no God...
getadogupya
And he wasn't a billionaire, until he was given the keys to the treasury...
RandomUser673
Way cheaper than buying it outright, and you can use fraud to make it even cheaper
AshesofAzure
How is it cheaper?
flacoloco
for the rich, debt is an asset.
leechdemon
I buy a house for $1M. I pay 5% in interest to borrow that money. It costs me $50,000/yr in interest (plus monthly payments) to live on my house.
My house earns 12% equity/yr. When I sell my house, I make $120,000/yr, simply because I bought he house. Even after interest payments, I'm making money. In fact, if I bought a $10M house, I'd make exactly 10x more money.
"The more money you spend; the more you make. You can lose!"
leechdemon
On top of that...
- the interest is declared as a business loss, so your taxes go down.
- you can spend your $1M (or whatever) on more important investments - like buying a newspaper or twitter or something.
- if you bought the house, the price is fixed at $1M. If you finance it when the market is low, you get a better deal (even if you don't have $1M in your wallet). If the market is high, you can cash out and make even MORE money.
Also, you can't commit mortgage fraud if you pay outright! 😉