No big bank will lend large sums of money based on an applicant's opinion of the value of their assets. That's the bottom line here. The lenders were all paid back in full and on time. Who was harmed? You think large NYC investment firms don't do their own valuations? They would just take Donald Fucking Trump's word?
Hey guys, I'd like a million dollar loan and I'll put up my Timex watch as collateral. It's worth two million dollars! Bank: "OK, cool! We can't lose!"
NOPE.
Hey guys, I'd like a million dollar loan and I'll put up my Timex watch as collateral. It's worth two million dollars! Bank: "OK, cool! We can't lose!"
NOPE.
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