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The banks will always do a valuation of their own of the value of collateral, when someone applies for a loan. Always, no exceptions. So to claim that Trump “defrauded” the banks, when he allegedly inflated the value of his collateral, just doesn’t add up.
The banks, by the way, have been fully repaid, principal and interest. So they’ve made their profit on the deal. They are in no way harmed.
Latitia James could be out there pursuing the real criminals. Every minute and every hour spent on this nonsense is time taken away from that.
But she did have as here election motto: “I’m going to Get Trump”. You’d think there should be some crime for that. For going after an individual. No matter what the crime. As Stalin’s secret service boss, Baria, said “show me the man and I’ll show you the crime”.
Commenter at this site:
I was a liquidation grade employee for the FDIC and I have been in banking all of my life. A bank does not approve a commercial real estate loan without getting their own independent appraisal of the property BEFORE giving the loan. It is the bank's responsibility to claim the value of the property not the person asking for the loan. The whole thing with Trump is ridiculous and nobody is stating the obvious.
cathylehman7538