President Biden: The NEW one and only politics thread

That is old news. And lots of people make contributions to politicians. So? You could do this endlessly with Joe Biden, too, except the people who breathlessly do this with Donald Trump, because anyone doing any business with him is evidence of a murky, unproven crime, don't strain to connect dots (that aren't there) when it comes to people not named Trump.

On the mortgage. ... And?

That RS piece was a lot of boogity, boogity. To be clear, the guys behind that Internet bank are bottom feeders, they were able to operate in risky lending areas of the market in a zero interest rate environment for more than a decade and thrive, because we had a central bank that encouraged and spurred on "survival of the unfittest" players like them. And?

So now there is a filing that shows that they wrote a $100 million mortgage on Trump Tower. $100 million is a lot of money for a company their size. None of us know the terms of the loan, not that it's anyone's business except theirs. Either it was a good loan that they'll profit from, or it will turn out to be a bad loan. If it was a bad loan and they are a bunch of Trump cult members doing stupid things wiht their money, they'll potentially lose a lot of money when he stiffs them or defaults.

And?

 

Why exactly are you so certain about your "casino chip" narrative? I mean, do you know something that nobody esle does about the nature of those loans?

They are collateralized loans. That collateral protects the lender. The question would be how well they are collateralized, and none of us, including you, have any idea what is backing those loans. They could be really smart loans. They could be really bad loans. But the point is, you don't know, you are just making assumptions.

On the mortage, that $100 million mortgage is going to collateralized with some portion of Trump Tower that wasn't already mortgaged. And none of us have any idea what he collateralized the appeal bond with. For all any of US know, the value of the collateral might exceed the size of the loans by a lot and they were underwritten with very little risk to the lender.

 

"None of us know the terms of the loan, not that it's anyone's business except theirs. Either it was a good loan that they'll profit from, or it will turn out to be a bad loan. If it was a bad loan and they are a bunch of Trump cult members doing stupid things wiht their money, they'll potentially lose a lot of money when he stiffs them or defaults.

Not a pot or a kettle. Sorry.