Like millions of Americans before me, I've done exactly what Donald Trump did; namely, sought a loan based upon my best estimate of what my property was worth-and I didn't look to what the tax assessor said in reaching that value.
Donald Trump by AI. We put it on the market at $405,000 and, ten days later, it was sold with the buyers offering $395,000.
This makes what NY AG Letitia James has done to Donald Trump especially unconscionable.
Trump and his company used "False and misleading" financial statements, her lawsuit alleged, "Repeatedly and persistently to induce banks to lend money to the Trump Organization on more favorable terms than would otherwise have been available to the company, to satisfy continuing loan covenants, and to induce insurers to provide insurance coverage for higher limits and at lower premiums."
Reading that, one would imagine that some banks or insurance companies lost money because they loaned money to Trump or that Trump defaulted on them.
The bottom line is that, according to James, Trump used one set of books for getting a loan and another set of books for taxes.
James has taken this ordinary element of business and twisted it to try and eviscerate Donald Trump's presidential campaign.
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