CNN’s been in a celebratory mood ever since Democrat prosecutors began hauling Donald Trump into court.
But CNN won’t like the truth about what’s really going on.
And now a CNN host got the shock of her life with this brutal reality check about Trump’s trial.
CNN’s Laura Coates brought on “Shark Tank” star Kevin O’Leary to discuss New York Attorney General Letitia James’ civil fraud suit against Trump.
James alleged Trump inflated the values of his properties to gain more favorable loan terms.
The elected Democrat Judge Arthur Engoron ruled in James’ favor before the trial even started and now James is asking for $370 million in damages and for the judge to permanently bar Trump from conducting business in the state of New York ever again.
James campaigned on weaponizing the DA’s office against Trump and this case is her making good on that promise.
O’Leary dissected the case straight to a stunned Coates’ face in easy-to-understand language that all viewers could follow along with.
“Well, let’s leave out Trump for a minute, and let’s leave out politics, and just talk about what happens in real estate development anywhere. So, if you’re a developer and you’ve got a building on the block, anywhere in America, and it’s worth, let’s say, $500 million, and you want to build a building right beside it, you go to the bank and say, ‘This building is worth $500 million. I’d like to borrow a construction finance loan against this asset, and I want you to tell me it’s worth $500 million too,’” O’Leary began.
O’Leary explained that every real estate developer values their properties in the best light possible to get the best loan terms possible from the bank.
These valuations, O’Leary added, are nothing more than a negotiation between a developer and the bank and it’s up to the financial institution to decide what level of funding they are willing to provide.
“And the bank negotiates with you, and says, ‘Well no, we think it’s worth $400 million,’ and you fight it out. You are always trying to show your assets in the brightest light with the sunshine you can possibly determine for them. You want them to be worth the very most because you’re only going to get a 40 to 50 percent loan to value, as it’s called. Then you borrow that money, in the case of a $500 million asset, maybe you get $250 million, and you build the new building with a construction finance loan. So that’s what this case is all about,” O’Leary continued.
O’Leary told Coates that no one lost money on the loans to Trump, the banks could have said no to Trump and that if James brought this case then every real estate developer on Earth is now at risk of being sued.
“And by the way, forget about Trump, every single real estate developer everywhere on earth does this. They always talk about their asset being worth a lot and the bank says no. That’s just the way it is. So in this case, what I’m trying to figure out, and I’m not pro or con, or I don’t care about the politics, who lost money? Nobody. The bank got paid back the construction finance loan, and a new building was built. If you’re going to sue this case and win, you’ve gotta sue every real estate developer everywhere. This is all they do. This is what they do all day long every day. So I don’t think this thing will ever survive appeal regardless of what the fine is. This doesn’t even make sense,” O’Leary concluded.
But every real estate developer on Earth isn’t living in fear of this type of lawsuit.
That’s because this lawsuit only applies to Trump.
James never would have filed this case if Donald Trump didn’t win the 2016 election and make it clear he planned to run again in 2024.
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