CURRENT EVENTS

  • Thread starter Thread starter nycfan
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It feels like we're at this place.

Scene 1 --

Trump Administration -- We're going to nationalize key economic sectors and put undesirables in concentration camps.

MAGA- WOOHOO!!!

Everyone else - uhhhhhhh???

Scene 2 --

Trump Administration -- "Look if the Indians want to cut their dick off and be a women fine by me…If a women in India wants to be a Man go for it…But my tax money shouldn’t be paying for it . . ."

MAGA, including TAr1978Heel -- WOOHOO!!!

Everyone else -- "WHAT THE FUCK????"
 
Ramrouser said:
Except his lenders had no reason to sue him since their loans were repaid in full. I've always had a hard time understanding the purpose of the lawsuit (other than lawfare) because it's not like the AG was protecting some consumers from Trump's companies (no victim). Deutsche Bank is a sophisticated big boy who could independently determine the value of Trump's assets in order to determine whether to lend him money and would never blindly rely upon any of his financial statements. It is perfectly capable of entering into a voluntary commercial transaction without the protection of the State.
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I'd be curious to know your background as it relates to commercial real estate lending. I worked for over 20 years for one of the largest CRE lenders in the country and have originated in the billions of dollars of loans. The reason for the laws against fraud isn't because nobody was hurt in this particular case or because the lenders are "big boys". The reason is if every borrower was allowed to provide fraudulent information then when there is a downturn those flaws would make the downside correction even worse. Think about the great financial crisis in 2008 - mortgage fraud where buyers simply lied on their applications and the "big boy" banks didn't care because they were getting bonuses (and in many cases offloading the risk through MBS) made the crisis much more acute.

If borrowers feel emboldened to lie about their financials and lenders look the other way because they are getting fat bonuses it creates systemic risk for all of us.
 
Ramrouser said:
Another one bites the dust
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Ramrouser said:
I like Justice Friedman, especially his comment that if any of Trump's lenders felt cheated they could have sued him themselves, and none did. Hopefully the Court of Appeals will adapt his position. In any event, Trump just had over a half a billion in fines wiped away due to an unconstitutional disgorgement order by the Trump hating trial court. Who cares about the injunction? Does Trump really care about serving on any boards of NY companies in the immediate future?

No matter how you slice it, it's a damn good day for Trump.
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This take is just ... weird.
 
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