Politics Aside - How ridiculous is this Trump trial?

Seems the AG has no idea banks do their own due diligence. Every article I read says that Trump defrauded banks by inflating his net worth, when the bank has to accept that value and does their own due diligence on net worth (I'm assuming). Then due to the inflated net worth the AG is complaining that they loaned him money - something that they did their own diligence on and underwrote conservative cases to loan him that with xyz guaranties to get comfortable.

Like how is this the argument she's using, seems insane to me. Anyone else agree or is there an actual crime here?

 
Most Helpful

He's already been found guilty, this is just for additional counts + a penalty trial. Not sure why you think intentional misrepresentation (or fraud) is ridiculous. 

Yes banks do their own due diligence, but reps and warranties specifically state that information provided is true and correct. The bad boy carveouts for a loan would also cover fraud. 

Did you not take an ethics class in school?

 

Placeat natus sed quia aut est dolorem. Sint corporis quia in et. Et laborum quis veniam enim et omnis. In a pariatur sed.

Modi praesentium quia doloremque magni consequuntur. Velit et et eius modi magnam. At totam quod et laboriosam mollitia hic atque.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

April 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

April 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

April 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

April 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (87) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Betsy Massar's picture
Betsy Massar
99.0
5
kanon's picture
kanon
98.9
6
dosk17's picture
dosk17
98.9
7
GameTheory's picture
GameTheory
98.9
8
CompBanker's picture
CompBanker
98.9
9
DrApeman's picture
DrApeman
98.8
10
numi's picture
numi
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”