Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

[ALiberalModerate]

i've always said that a TON of Americans suck at math and science.

i could add a lot of other things.

I think that unfortunately, I lot of them have never owned anything and thus are just ignorant of how things work for people that have even a little bit of success in life. It is why Trump telling them they are victims appeals to them so much. Unfortunately, they are often society's losers, have horrible inferiority complexes, and they just don't know any better.

 

[Taylor]

Okay so when is that not the case?

When you overpay for a house. Just because you spend $500,000 on a house doesn't mean it's worth $500,000 to anyone else.

Or, maybe someone wants to sell you their home well below market because you offer to pay in cash - doesn't mean the house suddenly becomes worth less.

 

[CaughtInThe]

I think that unfortunately, I lot of them have never owned anything and thus are just ignorant of how things work for people that have even a little bit of success in life. It is why Trump telling them they are victims appeals to them so much. Unfortunately, they are often society's losers, have horrible inferiority complexes, and they just don't know any better.

One of these days I'm going to start a thread about how "The Man" is keeping male trump supporters down. It's the same "Man" that kept black men down in the 40s and 50s.

Except for then it was real.

 

[holbritter]

It's the subject of the thread.

I wasn’t replying to the thread. I was replying to a poster. Don’t jump into conversations without knowing what it’s about.

 

[Taylor]

The market.

Certainly not the tax assessor.

 

[Taylor]

I wasn’t replying to the thread. I was replying to a poster. Don’t jump into conversations without knowing what it’s about.

Then you didn't understand what the poster was saying.

 

[Airyaman]

Certainly not the tax assessor.

Certainly not the owner either.

 

[ALiberalModerate]

One of these days I'm going to start a thread about how "The Man" is keeping male trump supporters down. It's the same "Man" that kept black men down in the 40s and 50s.

Except for then it was real.

Their defenses of Trump on this are so ignorant that you have to conclude these are people that have lived hand-to-mouth their whole lives and have never owned anything.

If on a credit card application, I tell Chase that my income is twice what it actually is, and as a result they give me a much bigger line of credit than they otherwise would, that is fraud on my part. I hate to tell them, but even though they think it's a valid defense to say that Chase should have done its due diligence, that doesn't mean I didn't commit fraud by inflating my income.

 

[Taylor]

Certainly not the owner either.

In that case, the bank came up with their own determination.

 

[CaughtInThe]

Their defenses of Trump on this are so ignorant that you conclude these are people that have lived hand to mouth their whole lives and have never owned anything.

If on a credit card application, I tell Chase that my income is twice what it actually is, and as a result they give me a much bigger line of credit than they otherwise would, that is fraud on my part. I hate to tell them, but even though they think it's a valid defense to say that Chase should have done its due diligence, that doesn't mean I didn't commit fraud by inflating my income.

Yeah. And in the old days we just called that lying + fraud.

 

[ALiberalModerate]

When you overpay for a house. Just because you spend $500,000 on a house doesn't mean it's worth $500,000 to anyone else.

Or, maybe someone wants to sell you their home well below market because you offer to pay in cash - doesn't mean the house suddenly becomes worth less.

Do you not understand the basics of a market economy?

If I have a home and someone offers me 500k for it, then that is the market price of that home for that sale. A year later, that buyer tries to sell that home and only gets 400k for it, then, by definition, that is the market price of that home for that sale. Market price is what someone is willing to give you for a property at the time of sale. Hint, stocks work the same way.

Now, if I have something to offer someone, for example, I am a Supreme Court Justice, and someone that often has financial interest on what is before the court, offers me well more than I would get from any other buyer and does so because they think I will reward them in other ways, then that is different. However, if you overpay for something I am selling without any expectation of receiving any special favors in return from me, then that is just a bad financial decision on your part.

 

[holbritter]

Then you didn't understand what the poster was saying.

Here. Pretend it's in crayon

You're just screeching, not rebutting. Fact is, Stewart undervalued his house for tax purposes, and property tax is how schools are funded. Now, you can tell me what I got wrong or you can screech some more.

Fact: a tax assessor sets the assessed value. Not the homeowner. Duh!

Where did anyone mention 'market value'?
Now go play outside.

 

[Airyaman]

In that case, the bank came up with their own determination.

No, they accepted Trump's financial records. Since those records appear to be fraudulent, he now owes the state of NY over $400M.

 

[LostInSeattle]

Jon Stewart benefited by 829% ‘overvalue’ of his NYC home even as he labels Trump’s civil case ‘not victimless’

Jon Stewart is facing online backlash after saying Donald Trump’s case overvaluing his properties was “not victimless,” and sleuths found his own records.

nypost.com

LOL the usual lib hypocrisy. If Trump got taken to court then so should Jon Stewart, but since he's a lib we know thats not gonna happen. Rules for thee but not for me.

What's the fraud here? I missed it. Did JS lie about the value of the property to get a favorable loan?

 

[LostInSeattle]

It’s unlikely that anyone (other than Trump or other threat to demorat power) would be found to be liable under the ridiculous allegation that they ‘unlawfully’ overvalued their real estate.

You sound like yet another person who has not read the judgment and so has no idea what they are talking about. Why do you bother?

 

[Taylor]

I'm no legal expert but doesn't that seem to be what will cause this thing to be overturned? I can't imagine why the damages would remain since they couldn't and wouldn't prove who exactly was defrauded.

More than that - this sets the precedent that the state can put someone out of business for a statement that is not true, even if it did no damage, and nobody ever believed the statement to begin with. I don't see how this holds up on appeal.

 

[Taylor]

Do you not understand the basics of a market economy?

If I have a home and someone offers me 500k for it, then that is the market price of that home for that sale.

No it's not. If your parents sell you their million-dollar home for 500k - it doesn't suddenly become worth 500k. Market value is a marketplace price, not what an individual pays for something.

A year later, that buyer tries to sell that home and only gets 400k for it, then, by definition, that is the market price of that home for that sale. Market price is what someone is willing to give you for a property at the time of sale. Hint, stocks work the same way.

Now, if I have something to offer someone, for example, I am a Supreme Court Justice, and someone that often has financial interest on what is before the court, offers me well more than I would get from any other buyer and does so because they think I will reward them in other ways, then that is different. However, if you overpay for something I am selling without any expectation of receiving any special favors in return from me, then that is just a bad financial decision on your part.

 

[Taylor]

No, they accepted Trump's financial records. Since those records appear to be fraudulent, he now owes the state of NY over $400M.

No, they didn't. Their valuation was only 53% of what was estimated, and that's what they used to issue the loans.

 

[LostInSeattle]

I think this whole 'controversy' has exposed a lot of right-wingers in their ignorance on how property taxes work.

I guess you missed it in the other thread where Trix let us know that she knows "everything" about real estate.

 

[Airyaman]

No, they didn't. Their valuation was only 53% of what was estimated, and that's what they used to issue the loans.

53% eh? So even the banks knew Trump was lying to them.

Fraud.

 

[trixare4kids]

I guess you missed it in the other thread where Trix let us know that she knows "everything" about real estate.

I do.

 

[Gimmesometruth]

I guess you missed it in the other thread where Trix let us know that she knows "everything" about real estate.

So much so....that the solution to the housing/banking collapse of 07-08....was to let them burn.

 

[Taylor]

53% eh? So even the banks knew Trump was lying to them.

They do adjustments like that all the time, for all sorts of buyers.

 

[Airyaman]

They do adjustments like that all the time, for all sorts of buyers.

OK. So what do bank valuations actually have to do with this discussion? Looks like a diversionary tactic on your part.

 

[noonereal]

That's the point. Now explain that to Judge Engoron.

You are purposely scrambling what Trump did and why he was convicted of fraud.