The value of anything is what someone is willing to pay and someone is willing to sell.
I'm going to hone in on that second part. So if I'm willing to sell my left shoe for a million dollars, is it now worth that much?
Not unless someone is also willing to buy it for that much, right? Well the case here is that Trump evaluated his properties at what people are saying was 10+ times their actual worth, when it was to his advantage. There was no one "willing to pay" that amount.
I hope that clears up your understanding of the case so that you can better explain why you disagree with it.
If there was no one willing to pay that amount then the value wasn't what they wanted and there is actually no victim. It wasn't overvalued at all as there wasn't a buyer at that amount to set the value. I'll stand by my understanding of this bullshit case. It's not fraud to ask too much for something. Hell, every single car dealership in the United States would be guilty of fraud with those standards. They all ask too much.
That is my comment on this whole case. I am in lending, and if the bank is relying on some information, they are going to verify it. My system calculates net worth, but we don’t look at that at all so if somebody tells us their dilapidated, two bedroom bungalow in the middle of nowhere Kansas is worth $500,000, we don’t rely on that, and it doesn’t matter so we weren’t defrauded by that “inflated” value estimate. and if you look on Zillow, you can clearly tell the judge is greatly undervalued the property for the case. Saing MarALago is worth $24 million with a property right up the street that’s half the size is valued at $50 million clearly shows the judge doesn’t know what he’s talking about.
If anything that proves it's not fraud. A Bank isn't going to lend $100,000,000 on an asset only worth $10,000,000. They do their own independent investigation on a properties worth as the property would be the collateral on the loan. Who would know more about a properties worth? The Bank who would quickly go out of business by lending money on overinflated property or a Dem Prosecutor who ran for her office with the promise of "getting Trump"?
I'm going to hone in on that second part. So if I'm willing to sell my left shoe for a million dollars, is it now worth that much?
Not unless someone is also willing to buy it for that much, right? Well the case here is that Trump evaluated his properties at what people are saying was 10+ times their actual worth, when it was to his advantage. There was no one "willing to pay" that amount.
I hope that clears up your understanding of the case so that you can better explain why you disagree with it.
If there was no one willing to pay that amount then the value wasn't what they wanted and there is actually no victim. It wasn't overvalued at all as there wasn't a buyer at that amount to set the value. I'll stand by my understanding of this bullshit case. It's not fraud to ask too much for something. Hell, every single car dealership in the United States would be guilty of fraud with those standards. They all ask too much.
I guess the only "victim" was the bank taking on more risk than they thought they were. Or receiving less in interest payments.
That is my comment on this whole case. I am in lending, and if the bank is relying on some information, they are going to verify it. My system calculates net worth, but we don’t look at that at all so if somebody tells us their dilapidated, two bedroom bungalow in the middle of nowhere Kansas is worth $500,000, we don’t rely on that, and it doesn’t matter so we weren’t defrauded by that “inflated” value estimate. and if you look on Zillow, you can clearly tell the judge is greatly undervalued the property for the case. Saing MarALago is worth $24 million with a property right up the street that’s half the size is valued at $50 million clearly shows the judge doesn’t know what he’s talking about.
If anything that proves it's not fraud. A Bank isn't going to lend $100,000,000 on an asset only worth $10,000,000. They do their own independent investigation on a properties worth as the property would be the collateral on the loan. Who would know more about a properties worth? The Bank who would quickly go out of business by lending money on overinflated property or a Dem Prosecutor who ran for her office with the promise of "getting Trump"?
There are too many laws that protect banks, I agree with that.