Having to state your case everyday and trying to convince us that you're winning on X tells me one thing...'They' are losing and are seeking 'public approval' at every turn....PANIC.
She thought this would be her big moment but it’s turning into a disaster, and she has no way out, she is stuck, and she’s pissed off because she’s been played, by all sides.
However, defendants' reliance on these "worthless" disclaimers is worthless. The clause does not use the words "worthless" or " useless" or "ignore" or "disregard" or any similar words. It does not say, "the values herein are what I think the properties will be worth in ten or more years." Indeed, the quoted language uses the word "current" no less than five times, and the word "future" zero times.
Additionally, as discussed supra, a defendant may not rely on a disclaimer for misrepresentation of facts peculiarly within the defendant's knowledge. Basis Yield Alpha Fund at 136. Here, as the valuations of the subject properties are, obviously, peculiarly within defendants' knowledge, their reliance on them is to no avail.
Furthermore, "[t]his ' special facts doctrine' applies regardless of the level of sophistication of the parties." TIAA Glob. Invs. LLC v One Astoria Square LLC, 127 AD3d 75, 87 (1st Dept 2015) (emphasis added) (holding disclaimer does not bar liability for fraud where facts were peculiarly within disclaiming party's knowledge). Thus, the "worthless clause" does not say what defendants say it says, does not rise to the level of an enforceable disclaimer, and cannot be used to insulate fraud as to facts peculiarly within defendants' knowledge, even vis-a-vis sophisticated recipients.
Basically the AG is claiming, banks/other lenders, insurance companies, and people who invested in securities based on Trump's loans.
The claim is that by inflating his net worth on his statements of financial condition, Trump was able to get lower interest rates and bigger loans. If he was indeed worth less, the loans would have been riskier and the banks would have charged more or not made them at all. Trump's biggest lender Deutsche Bank was giving him 2% percent based on personal guarantees that his worth would always be above $2.5 billion and he would always keep at least $50 cash on hand. (These loans were not just based on the property itself, but Trump himself.)
Trump's second biggest lender was Ladder Capital a real estate investment trust. They packed up trump loans in mortgage back securities, CMBS. If you remember the financial crisis, riskier securities get a lower investment grade and are harder to sell.....you usually have to offer higher return to offset the risk.
This is the crux of the AG's claim and what Trump will have to attack once the defense presents their case.
The Trump Organization’s skewed financial statements may have cost banks more than $168 million in interest, according to an expert witness hired by the New York attorney general’s office.
Michiel McCarty, chairman and CEO at the investment bank M.M. Dillon & Co., testified Wednesday to his “lost interest calculations” for banks that handed out loans to the Trump Organization. His calculations determined that across four Trump Organization assets, banks lost out on just over $168 million in interest.
The assets — 40 Wall Street, Trump’s Chicago hotel, the Old Post Office-turned-hotel and Trump’s golf course in Doral, Fla. — each lost banks tens of millions of dollars in interest across nearly a decade, according to McCarty’s assessment.
James is just a minion with no thought of her own, a puppet. This is another humiliation ritual against Trump. The deep state has been trying to destroy him financially and reputationally since the 90s. The deep state has used lawfare to undermine and destroy anyone who does not kowtow for decades. Trump knows this and is now bringing their grift into the open and into the light.
Where does Soros find these creatures, Most democrat persons, politicians have the same look, the same demeanor, same addiction to power and fame. They look like walking road kill just before the Bus runs them over, THAT LOOK
Repeating a lie does not make it more true.
Having to state your case everyday and trying to convince us that you're winning on X tells me one thing...'They' are losing and are seeking 'public approval' at every turn....PANIC.
https://nitter.net/NewYorkStateAG/status/1721663117275406511
This Soros backed stupid lady looks more stupid every day she opens her stupid mouth.
And she seems scared or shaken. She probably didn't think it would get this far...or she would be rightfully vilified.
She thought this would be her big moment but it’s turning into a disaster, and she has no way out, she is stuck, and she’s pissed off because she’s been played, by all sides.
Watch her eyes, she does not look confident.
Yeah, that's what I saw too.
Hey Man...No she doesn't...😉
She sounds like she is reading a script.
...and all will do as told.
Trump said there is a disclaimer on the first page. The case should be thrown out based on this alone.
Unfortunately for Trump, in his summary judgement, the judge ruled this is not a legal defense
The judge gave three reasons for this.
The disclaimer doesn't say what the defendants claim it does
It's not an enforceable disclaimer and
You still have to reveal facts that are known to you, even if you add a disclaimer.
https://x.com/KlasfeldReports/status/1721547621632745814?s=20
https://law.justia.com/cases/new-york/other-courts/2023/2023-ny-slip-op-33314-u.html
Here's the ruling. Starting on page 12 of the ruling you can read the full section discussing this including the language of the disclaimer.
Whole situation seems like a trap to me, a dang good one. Is Trumpy setting the old precedent on this one.
Libel, slander. Jesus I pray that you reach out to this woman and have her do a 180. Satan get behind us! WWG1WGA brothers in Christ!
Even if this were true, who's the victim?
Basically the AG is claiming, banks/other lenders, insurance companies, and people who invested in securities based on Trump's loans.
The claim is that by inflating his net worth on his statements of financial condition, Trump was able to get lower interest rates and bigger loans. If he was indeed worth less, the loans would have been riskier and the banks would have charged more or not made them at all. Trump's biggest lender Deutsche Bank was giving him 2% percent based on personal guarantees that his worth would always be above $2.5 billion and he would always keep at least $50 cash on hand. (These loans were not just based on the property itself, but Trump himself.)
Trump's second biggest lender was Ladder Capital a real estate investment trust. They packed up trump loans in mortgage back securities, CMBS. If you remember the financial crisis, riskier securities get a lower investment grade and are harder to sell.....you usually have to offer higher return to offset the risk.
This is the crux of the AG's claim and what Trump will have to attack once the defense presents their case.
https://thehill.com/regulation/court-battles/4287509-trump-orgs-false-financial-statements-cost-banks-168m-in-interest-ny-ag-financial-expert/
The biggest problem now is the lunatic, erratic judge who has zero clue what the hell he is even doing.
Knowingly.
James is just a minion with no thought of her own, a puppet. This is another humiliation ritual against Trump. The deep state has been trying to destroy him financially and reputationally since the 90s. The deep state has used lawfare to undermine and destroy anyone who does not kowtow for decades. Trump knows this and is now bringing their grift into the open and into the light.
Die Bitch,your breathing my air
Where does Soros find these creatures, Most democrat persons, politicians have the same look, the same demeanor, same addiction to power and fame. They look like walking road kill just before the Bus runs them over, THAT LOOK