NO LAW WAS BROKEN

 

NO LAW WAS BROKEN

 

As some of you know I worked for finance companies during my working years. I granted loans to applicants. Different collateral was offered for these loans. Some were, of course, real estate loans. 

 

The applicant would submit an application wherein they offered information about themselves in order to qualify for the loan. They would also offer collateral to stand as security for the loan. 

 

My job was to evaluate the customer's credit qualification, as well as the collateral, for the loan requested. To do this evaluation I would call a credit bureau as well as other creditors who had experience with this borrower to determine their pay habits. 

 

To evaluate the collateral was a bit more involved. If, for example, a customer was applying for a real estate loan, we would never assume his evaluation of his real estate was accurate. No, we would have it appraised by a professional real estate appraiser. At that point we could know with some certainty what our exposure was. Then if the value was there and the credit qualification was met, we would grant the loan.

 

As you can see, it was a simple process. It was called three Cs and S. Character, capacity, collateral, and stability. Most of the time the customer repaid the loan and all was well. That was the business we were in. 

 

I point this out because of what is happening in New York concerning Trump and his so-called fraud trial. The prosecutor alleged Trump applied for a loan and misled the lender by overstating the value of the collateral. It appears the lender granted the loan based on Trump's estimate of its value. That's on the banker, not the borrower. Anyway, it is all for nothing because the loan was repaid and there was no harm, no victim, and hence, no crime. 

 

So, what is obvious is that the New York prosecutor doesn't care. She just wants to interfere in a free election. This is "banana republic" activity. We are America and that's not the way it's done. Even had the loan not been repaid, it still is on the lender, not the borrower.

 

It is also obvious that the judge in this case is in cahoots with the prosecutor. Now the prosecutor wants to begin taking Trump's property to satisfy her illicit judgment. Unbelievable. 

 

If you are in business in New York, beware. It appears the local government agencies don't let law get in their way. These agencies better hope that Trump doesn't win. If he does, a lot of those people will be looking for jobs…as soon as they get out of jail.

 

Ron Scarbro March 26, 2024