Donald Trump got caught red-handed during his $250 million New York bank fraud trial on Monday when lawyers for the New York attorney general’s office revealed Trump had long ago signed financial documents with the clear intent that they would be used to curry favor with banks.
After being shown a loan agreement he had signed with Deutsche Bank in 2012, Trump agreed that his faulty financial statements were intended to induce banks to lend money.
While it might not sound like much, the admission is key to the New York attorney general’s case, which hopes to prove that Trump deceived banks and insurers by massively overvaluing his net worth. Trump essentially admitted on the stand that these financial documents were produced with the express intent to induce lending. The Trump Organization was likely able to secure loans at far lower interest rates due to all the overinflated valuations.
I don’t think anyone in this community is going to argue that Trump didn’t break the law, egregiously and many many times. What everyone doubts is that there will be any real consequences for the wealthy elite, especially this one.
There will be none. There will be a fine sure but there will be a banking institution somewhere that will loan him the money and he will just set up shop somewhere else and continue as he has always done.
There will be none. There will be a fine sure but there will be a banking institution somewhere that will loan him the money and he will just set up shop somewhere else and continue as he has always done.
The cynicism isnt helpful or even accurate.
