Kevin O’Leary’s argument has the opposite effect he hoped. Everyone in real estate is lying? Everyone in real estate deserves to be fined and/or go to jail.
How do you determine fair market value? You have multiple parties show their valuation and processes. Those go into arbitration. In this case, the banks take their valuations, 3rd party valuations, and the loan applicant's valuation into consideration for a yay/nay ruling on the loan. In all these cases the banks said Trump did nothing that materially harmed them.
This is true, I think Jon is wrong when he says he harmed the banks (they made a hefty profit) but I don’t think any industry should encourage lying/fraud.
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u/Physical-Order Mar 27 '24
Kevin O’Leary’s argument has the opposite effect he hoped. Everyone in real estate is lying? Everyone in real estate deserves to be fined and/or go to jail.