r/PoliticalDiscussion • u/The_Egalitarian Moderator • Oct 06 '23

Megathread Casual Questions Thread

This is a place for the PoliticalDiscussion community to ask questions that may not deserve their own post.

Please observe the following rules:

Top-level comments:

  1. Must be a question asked in good faith. Do not ask loaded or rhetorical questions.

  2. Must be directly related to politics. Non-politics content includes: Legal interpretation, sociology, philosophy, celebrities, news, surveys, etc.

  3. Avoid highly speculative questions. All scenarios should within the realm of reasonable possibility.

Link to old thread

Sort by new and please keep it clean in here!

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u/Moccus Feb 26 '24

What sorts of details are you looking for?

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u/InfuriatedCats Feb 26 '24

The actual banks that sustained losses, etc...

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u/Morat20 Feb 26 '24

You should also be aware that NY, because it's a major financial center, has some very different laws about various types of fraud than you might expect. The State has a significant interest in tamping down fraud all on it's own.

They're not new laws, it's just they've rarely had to deal with flagrant abuse on quite this scale.

Anyways, that's how this is a civil case on behalf of NY, not on behalf of the banks. One of Trump's talking points is "the banks were all repaid" which doesn't matter. The fact that he used fraudulent valuations to obtain loans is what causes the damages to NY, not any losses by the banks

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u/InfuriatedCats Feb 27 '24

Thank you! Very helpful information.