eXiT
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Posts: 1,516
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Post by eXiT on Feb 29, 2024 9:45:10 GMT -5
But if he had defaulted it could have... which he was at an increased risk of, because he lied on bank and business records which drastically inflated his net worth. If, if, if.... Sounds like the bank should have sued him... Yet they didn't. So we should just scrap all laws that criminalize lying to banks??? |
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cwood
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Post by cwood on Feb 29, 2024 9:48:28 GMT -5
If, if, if.... Sounds like the bank should have sued him... Yet they didn't. So we should just scrap all laws that criminalize lying to banks??? I'm sure he wants to keep the ones that would criminalize Biden lying to banks if Biden were psychotic enough to inflate his net worth several times over. |
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Post by Sir Tinley on Feb 29, 2024 9:56:22 GMT -5
So we should just scrap all laws that criminalize lying to banks??? Why haven't the banks sued? Because they made a lot of easy money and are eager to do so again. |
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eXiT
Sophomore
Posts: 1,516
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Post by eXiT on Feb 29, 2024 9:59:03 GMT -5
I'm just gonna go to the bank next time and claim my house is 3 times bigger than it is, and going to put my cottage down for 2 times what its worth.
If Trump can get away with doing that, then I should too!
I think yall should do the same, I don't see how lying on financial disclosure could harm our financial institutions at all!
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Post by Sir Tinley on Feb 29, 2024 9:59:47 GMT -5
I gave you several opportunity costs of Trump securing loans he did not deserve. Many of them could effect you. What do you mean "did not deserve"? The bank decided he deserved the loans. I'm unsure why you are giving the bank a free pass. And you won't say. The bank made a healthy profit from dealing with Trump. What more could the bank do if they never scored that profit? |
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Lige
Sophomore
Posts: 1,992
NFL: Chiefs
NBA: NBAHAHAHAHAHAH
NHL: Blues
MLB: Cardinals
College: Blue Tigers
FIFA: Germany
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Post by Lige on Feb 29, 2024 10:04:08 GMT -5
Ahhhh...Mr. Shit For Brains go fuck yourself. You remind me of a girl in my third (3rd) grade class. She would cry every time we did math. You remind me of a turd I flushed. |
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olaf
Freshman
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Post by olaf on Feb 29, 2024 10:08:45 GMT -5
You remind me of a girl in my third (3rd) grade class. She would cry every time we did math. You remind me of a turd I flushed. He reminds me of a third grade girl castles wants to bang. |
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Post by Snerb on Feb 29, 2024 10:10:23 GMT -5
I'm just gonna go to the bank next time and claim my house is 3 times bigger than it is, and going to put my cottage down for 2 times what its worth. If Trump can get away with doing that, then I should too! I think yall should do the same, I don't see how lying on financial disclosure could harm our financial institutions at all! You and I are absolutely free to do exactly that. It then becomes the banks responsibility to complete their due diligence in the form of an appraisal and current assessments. If the math doesn't add up you don't get the money. You can't borrow $3 million of a property worth $220k....you can try, and it's completely legal to try, but they won't give you that loan. Why is this so hard for you?! |
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Post by Sir Tinley on Feb 29, 2024 10:12:39 GMT -5
I'm just gonna go to the bank next time and claim my house is 3 times bigger than it is, and going to put my cottage down for 2 times what its worth. Are you close to a bank? Have you ever been to a bank? Since you are oblivious to banking procedures, I'l give you some insight. You are free to claim anythingn you choose. The bank will help you by itemizing asset resources for you- Income, savings, real estate, business investments, stocks, bonds, gold, mutual funds.... Claim anything you wish. The bank will ask for paperwork to verify your claims. Then it gets to where you get lost and blinded by TDS. You can claim to make $500k annually from your job. The bank will require you tax W-2, likely for at least two (2) years. If your W-2 shows you made $140K, the bank will tell you, Sorry. We can only base the loan on the $140K listed on your IRS statement. If you give them a doctored W-2 changing the number to $500k, then you are committing a crime. If you tell the bank you own Crown Royal and the bank says OK! you get the loan! without checking, that's on them. If you pay back the loan, they are all happy. If you default, they have to take their chances suing you in court. It isn't the gov't job to inspect and verify every loan agreement. |
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Post by Snerb on Feb 29, 2024 10:12:50 GMT -5
None of them affect me, nor you. I have stock in many banks. I also have CD’s It affects me. I’m guessing it effects you too, but you never thought about it before. With Trump’s proper payments, the bank could have offered 35,500 $200,000 CD’s at 5% for year. That’s a lot people impacted and a lot of revenue left on the table for stock investors If, if, if... If you have stock in the financials that Trump borrowed from you made money. |
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Post by Sir Tinley on Feb 29, 2024 10:13:27 GMT -5
You remind me of a girl in my third (3rd) grade class. She would cry every time we did math. You remind me of a turd I flushed. At least put on a dry shirt first.... |
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Post by Sir Tinley on Feb 29, 2024 10:14:17 GMT -5
I have stock in many banks. I also have CD’s It affects me. I’m guessing it effects you too, but you never thought about it before. With Trump’s proper payments, the bank could have offered 35,500 $200,000 CD’s at 5% for year. That’s a lot people impacted and a lot of revenue left on the table for stock investors If, if, if... If you have stock in the financials that Trump borrowed from you made money. Exactly He made money but still is disabled with TDS |
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Post by Sir Tinley on Feb 29, 2024 10:15:33 GMT -5
I'm just gonna go to the bank next time and claim my house is 3 times bigger than it is, and going to put my cottage down for 2 times what its worth. If Trump can get away with doing that, then I should too! I think yall should do the same, I don't see how lying on financial disclosure could harm our financial institutions at all! You and I are absolutely free to do exactly that. It then becomes the banks responsibility to complete their due diligence in the form of an appraisal and current assessments. If the math doesn't add up you don't get the money. You can't borrow $3 million of a property worth $220k....you can try, and it's completely legal to try, but they won't give you that loan. Why is this so hard for you?! TDS. It destroys the brain. |
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eXiT
Sophomore
Posts: 1,516
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Post by eXiT on Feb 29, 2024 10:16:29 GMT -5
I'm just gonna go to the bank next time and claim my house is 3 times bigger than it is, and going to put my cottage down for 2 times what its worth. If Trump can get away with doing that, then I should too! I think yall should do the same, I don't see how lying on financial disclosure could harm our financial institutions at all! You and I are absolutely free to do exactly that. It then becomes the banks responsibility to complete their due diligence in the form of an appraisal and current assessments. If the math doesn't add up you don't get the money. You can't borrow $3 million of a property worth $220k....you can try, and it's completely legal to try, but they won't give you that loan. Why is this so hard for you?! Uhhh you realize it’s a crime to provide false statements to federally insured financial institutions right? |
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Post by Snerb on Feb 29, 2024 10:42:06 GMT -5
You and I are absolutely free to do exactly that. It then becomes the banks responsibility to complete their due diligence in the form of an appraisal and current assessments. If the math doesn't add up you don't get the money. You can't borrow $3 million of a property worth $220k....you can try, and it's completely legal to try, but they won't give you that loan. Why is this so hard for you?! Uhhh you realize it’s a crime to provide false statements to federally insured financial institutions right? Uhhh, you realize that the bank did their due diligence and approved the loan right? That alone is support that the original numbers on the application weren't far off... |
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Post by Sir Tinley on Feb 29, 2024 10:42:10 GMT -5
Banks make a healthy profit....
TDS- We must punish whoever paid off their loans on time!
Disney loses a $Billion$ dollars in a single calendar year....
TDS- Disney's Winning!!
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eXiT
Sophomore
Posts: 1,516
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Post by eXiT on Feb 29, 2024 10:44:26 GMT -5
Uhhh you realize it’s a crime to provide false statements to federally insured financial institutions right? Uhhh, you realize that the bank did their due diligence and approved the loan right? That alone is support that the original numbers on the application weren't far off... Banks provided loans they shouldn’t have leading up to 2008 too… |
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Post by Snerb on Feb 29, 2024 10:52:46 GMT -5
Uhhh, you realize that the bank did their due diligence and approved the loan right? That alone is support that the original numbers on the application weren't far off... Banks provided loans they shouldn’t have leading up to 2008 too… ...and now your chasing your tail. But I'll humor you...and what happened with some of those loans? Answer...The borrower's defaulted and the banks siezed their collateral. That didn't happen here. Why? |
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eXiT
Sophomore
Posts: 1,516
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Post by eXiT on Feb 29, 2024 11:03:34 GMT -5
Banks provided loans they shouldn’t have leading up to 2008 too… ...and now your chasing your tail. But I'll humor you...and what happened with some of those loans? Answer... The borrower's defaulted and the banks siezed their collateral. That didn't happen here. Why? Wrong the borrowers defaulted and the tax payers bailed out the banks. Its almost like providing loan agreements to people who shouldn't get them can have ramifications for everyone. That's why we disincentivize lying on financial document by criminalizing it, and should be going after banks like Deutsche Bank who provide loans to people who shouldn't get them... |
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Post by Sir Tinley on Feb 29, 2024 11:21:14 GMT -5
Wrong the borrowers defaulted and the tax payers bailed out the banks. Its almost like providing loan agreements to people who shouldn't get them can have ramifications for everyone. That's why we disincentivize lying on financial document by criminalizing it, and should be going after banks like Deutsche Bank who provide loans to people who shouldn't get them... This is (completely) wrong.... The bank bail out wasn't because of lying on financial documents, it was because gov't forced banks to make risky loans at artificially low rates to increase home ownership in low income brackets. Burning down the houseThe louder they talked about the disadvantaged, the more money they made. And the more the financial system tottered. Who were they? Most explanations of the financial calamity have been indecipherable to people not fluent in the language of “credit default swaps” and “collateralized debt obligations.” The calamity has lacked human faces. No more. Put on asbestos mittens and pick up “Reckless Endangerment,” the scalding new book by Gretchen Morgenson, a New York Times columnist, and Joshua Rosner, a housing finance expert. They will introduce you to James A. Johnson, an emblem of the administrative state that liberals admire. The book’s subtitle could be: “Cry ‘Compassion’ and Let Slip the Dogs of Cupidity.” Or: “How James Johnson and Others (Mostly Democrats) Made the Great Recession.” The book is another cautionary tale about government’s terrifying self-confidence. It is, the authors say, “a story of what happens when Washington decides, in its infinite wisdom, that every living, breathing citizen should own a home.” The 1977 Community Reinvestment Act pressured banks to relax lending standards to dispense mortgages more broadly across communities. In 1992, the Federal Reserve Bank of Boston purported to identify racial discrimination in the application of traditional lending standards to those, Morgenson and Rosner write, “whose incomes, assets, or abilities to pay fell far below the traditional homeowner spectrum.” In 1994, Bill Clinton proposed increasing homeownership through a “partnership” between government and the private sector, principally orchestrated by Fannie Mae, a “government-sponsored enterprise” (GSE). It became a perfect specimen of what such “partnerships” (e.g., General Motors) usually involve: Profits are private, losses are socialized. There was a torrent of compassion-speak: "Special care should be taken to ensure that standards are appropriate to the economic culture of urban, lower- income, and nontraditional consumers." "Lack of credit history should not be seen as a negative factor." Government having decided to dictate behavior that markets discouraged, the traditional relationship between borrowers and lenders was revised. Lenders promoted reckless borrowing, knowing they could offload risk to purchasers of bundled loans, and especially to Fannie Mae. In 1994, subprime lending was $40 billion. In 1995, almost one in five mortgages was subprime. Four years later such lending totaled $160 billion. As housing prices soared, many giddy owners stopped thinking of homes as retirement wealth and started using them as sources of equity loans — up to $800 billion a year. This fueled incontinent consumption. Under Johnson, an important Democratic operative, Fannie Mae became, Morgenson and Rosner say, “the largest and most powerful financial institution in the world.” Its power derived from the unstated certainty that the government would be ultimately liable for Fannie’s obligations. This assumption and other perquisites were subsidies to Fannie Mae and Freddie Mac worth an estimated $7 billion a year. They retained about a third of this. Morgenson and Rosner report that in 1998, when Fannie Mae’s lending hit $1 trillion, its top officials began manipulating the company’s results to generate bonuses for themselves. That year Johnson’s $1.9 million bonus brought his compensation to $21 million. In nine years, Johnson received $100 million. Fannie Mae’s political machine dispensed campaign contributions, gave jobs to friends and relatives of legislators, hired armies of lobbyists (even paying lobbyists not to lobby against it), paid academics who wrote papers validating the homeownership mania, and spread “charitable” contributions to housing advocates across the congressional map. By 2003, the government was involved in financing almost half — $3.4 trillion — of the home-loan market. Not coincidentally, by the summer of 2005, almost 40 percent of new subprime loans were for amounts larger than the value of the properties. Morgenson and Rosner find few heroes, but two are Marvin Phaup and June O’Neill. These “digit-heads” and “pencil brains” (a Fannie Mae spokesman’s idea of argument) with the Congressional Budget Office resisted Fannie Mae pressure to kill a report critical of the institution. “Reckless Endangerment” is a study of contemporary Washington, where showing “compassion” with other people’s money pays off in the currency of political power, and currency. Although Johnson left Fannie Mae years before his handiwork helped produce the 2008 bonfire of wealth, he may be more responsible for the debacle and its still-mounting devastations — of families, endowments, etc. — than any other individual. If so, he may be more culpable for the peacetime destruction of more wealth than any individual in history. Morgenson and Rosner report. You decide. prostuffrecreation.proboards.com/thread/73556/random-political-thread?page=52 |
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Post by Sir Tinley on Feb 29, 2024 11:24:47 GMT -5
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cwood
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Posts: 4,982
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Post by cwood on Feb 29, 2024 11:43:43 GMT -5
...and now your chasing your tail. But I'll humor you...and what happened with some of those loans? Answer... The borrower's defaulted and the banks siezed their collateral. That didn't happen here. Why? Wrong the borrowers defaulted and the tax payers bailed out the banks. Its almost like providing loan agreements to people who shouldn't get them can have ramifications for everyone. That's why we disincentivize lying on financial document by criminalizing it, and should be going after banks like Deutsche Bank who provide loans to people who shouldn't get them... Lol why are you wasting your time? People who don't care that Trump tried to overthrow American democracy aren't going to be concerned with a little financial fraud. |
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Post by Snerb on Feb 29, 2024 11:56:15 GMT -5
...and now your chasing your tail. But I'll humor you...and what happened with some of those loans? Answer... The borrower's defaulted and the banks siezed their collateral. That didn't happen here. Why? Wrong the borrowers defaulted and the tax payers bailed out the banks. Its almost like providing loan agreements to people who shouldn't get them can have ramifications for everyone. That's why we disincentivize lying on financial document by criminalizing it, and should be going after banks like Deutsche Bank who provide loans to people who shouldn't get them... Lol. Wrong. |
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Post by Snerb on Feb 29, 2024 11:57:02 GMT -5
Wrong the borrowers defaulted and the tax payers bailed out the banks. Its almost like providing loan agreements to people who shouldn't get them can have ramifications for everyone. That's why we disincentivize lying on financial document by criminalizing it, and should be going after banks like Deutsche Bank who provide loans to people who shouldn't get them... Lol why are you wasting your time? People who don't care that Trump tried to overthrow American democracy aren't going to be concerned with a little financial fraud. Financial fraud assumes someone lost money .. who lost money? |
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Post by Snerb on Feb 29, 2024 11:57:55 GMT -5
Satire becomes reality, again...
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