On the subject of our corrupted justice system, yesterday a NY judge ruled that Trump and his companies have been committing fraud for years claiming Trump inflated the value of his assets to banks and insurance companies. In one citation the judge used Trump's valuation of Mar-A-Lago as an example claiming Trump committed fraud because a tax assessor valued the property at $18 to $26 million while Trump claimed it was 2300% greater than that.
First, tax assessments are not marker valuations. My house for example is assessed at about half its market value. If I apply for a equity line of credit and claim to the bank that the property is worth its market value, I am not committing fraud, but that is what this judge seems to be saying.
Problem #2, is that banks never accept the borrowers valuation of a property. That would be stupid. Bank will have an appraiser determine the appropriate value of a property and the factor in some other details like future value, etc. The same is true for collateral. If you put up your home as collateral against a business load for example, the bank will still appraise the value of your home, or whatever else you put up as collateral. If they didn't people would be making all kinds of ridiculous claims about assets.
The same it true for insurance companies. When you insure your car, your insurance companies decides how much it is worth, not you. The same is true for properties. Otherwise, people would take out multi-million dollar insurance policies on their homes and then burn them down for huge profits.
Problem #3, The judge is claiming this is all fraud. But who did Trump defraud? The banks? The insurance companies? Neither complained about Trump's practices. If Trump was cheating them for years why did they continue to lend him money and insure his properties? If the banks waived property assessments then that was the risk they were willing to take. In the end Trump paid back all the money he borrowed so no one was defrauded of anything.
Problem #4. The judge included Eric Trump in his judgement, but Eric Trump play no part in any of this. In fact, Donald Trump actually did not play a functional role in any of this. His operations team did all of it.
Problem #5, The judge made a very prejudicial statement during a hearing on dismissal. Trump argued that Letitia James, the DA who brought this case,, campaigned on the platform that she would investigate and "get" Trump. The judge ruled it did not matter because Trump is a crook and should be investigated.
Problem #6. The SDNY prosecutors looked at this case and decided not to pursue it, probably because of the problems I mentioned. Letitia James, instead of bringing criminal charges, brought it to civil court. But who is the aggrieved party? The banks didn't sure Trump. Neither did the insurance companies. So who has standing in this case? How were the people of NY harmed by Trump's deals with his banks and insurance companies?
All of this just shows that judges and prosecutors have destroyed the justice system in America because they had Trump.
We should be asking how is it that every Trump case winds up with a Trump hating judge presiding? The only exception is the case Jack Smith had to move to Florida.
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