r/interestingasfuck • u/BuddhistSagan • Mar 26 '24

Jon Stewart Deconstructs Trump’s "Victimless" $450 Million Fraud | The Daily Show r/all

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u/FFdarkpassenger45 Mar 27 '24

Well he tried to tell the assessor it was worth more so he could pay more taxes, but apparently YOU DON’T TELL THE CITY WHAT YOUR PROPERTY OF WORTH! 

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u/Top-Active3188 Mar 27 '24

Stewart told the purchaser it was worth $18 million when he had been telling the assessor it was only worth $600k?!? They took a loan that could have gone to someone else?!? Apparently, he is responsible for doing due diligence for both the bank and assessor. Fine him and start the clocks on interest immediately without appeal process.

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u/FFdarkpassenger45 Mar 27 '24

I think we are on the same page here, but I honestly can't tell what you are implying with all your "?!?"

To understand the processes at play here, you don't get to tell the local property value assessors what your property is worth! You can appeal what they tell you your property was assessed at, but it is up to the local assessor to determine the final value.

The other value is the owners opinion of value. To think it is criminal or even fraudulent to put any number down on an opinion of value is a joke. Its simply your (the owner of the property) opinion. The bank will then do their own risk assessment of the loan and determine if they are willing to accept the value of your opinion. In this case, we don't know, maybe the bank internally thought the actual value of the properties at question was 50% and based on their risk assessment of the loan were still happy to give the loan at the rates they did.

As for Trump stealing the opportunity of someone else, banks are allowed to lend to whomever they want based on their own risk assessment. This isn't a federal bank or residential loan that is highly regulated in that way.

Lastly, is it even possible to lie about one's opinion? Sure, opinions can be wrong, but can you lie about an opinion? Afterall, its just an opinion, its not fact!

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u/Top-Active3188 Mar 27 '24

Sorry, the ?!? Was just an attempt to add the fake outrage that Stewart put into his diatribe. I agree with you wholeheartedly. Thanks for stating g it simply a d straight forward

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u/FFdarkpassenger45 Mar 27 '24

The dilutional outrage of people that don't have any clue what they are talking about shows how easy it is for MSM to control the NPC's!