Rats jumping off S.S. Trump

[TC Talks]

This accounting firm is as corrupt as they come and to suggest that they are taking the high road is laughable. More than likely the feds have got Trump dead to rights and these guys don't want to go down with his organization.

I don't know who he needs to worry about more, his lenders or the feds when it is revealed he misrepresented his assets on loan applications. Banks are sharks.

Donald J. Trump’s longtime accounting firm abruptly cut ties with his family business last week amid ongoing criminal and civil investigations into whether Mr. Trump illegally inflated the value of his assets, court documents filed on Monday show.

In a letter to the Trump Organization on Feb. 9, the accounting firm notified the company of its decision and disclosed that it could no longer stand behind annual financial statements it prepared for Mr. Trump. The firm, Mazars USA, compiled the financial statements based on information the former president and his company provided.

The letter instructed the Trump Organization to essentially retract the documents, known as statements of financial condition, from 2011 to 2020. In the letter, Mazars noted that the firm had not “as a whole” found material discrepancies between the information the Trump Organization provided and the actual value of Mr. Trump’s assets. But given what it called “the totality of circumstances,” the letter directed the Trump Organization to notify anyone who received the statements that they should no longer rely on them.

The statements, which Mr. Trump used to secure loans, are at the center of the two law enforcement investigations into the former president and his company. The Manhattan district attorney’s office and the office of the New York attorney general, Letitia James, have been investigating whether Mr. Trump used the statements to defraud his lenders into providing him the best possible loan terms.

https://www.nytimes.com/2022/02/14/nyre ... ments.html

[Lester The Nightfly]

This is a H*** deal. If his company is cut off from banks and financiers he might as well pack it in. Neither banks or accountants have much tolerance with a client whose financial statements are suspect. Like the old saying goes, if you fudge the books for a couple hundred bucks it's your problem, if you fudge the books for millions it's the banks problem. You can bet floors of accountants at any financial institution he's done business with are pouring over documents even as we speak trying to determine if they've been burned.

I wonder what kind of exposure or liability Ivanka, Don Jr. and idiot Eric have considering Mazars statement pertained to the business (of which they are principals) rather than the man himself? In any event, he can laugh off government investigations but if you're a real estate developer and the banks won't touch you, that's a solid kick in the nutsack.

[Turkeytop]

This is a H*** deal. If his company is cut off from banks and financiers he might as well pack it in.

He's been bankrupt before. It's his way of doing business. Gets him out of his obligations to his creditors and his employees.

[Lester The Nightfly]

This is a H*** deal. If his company is cut off from banks and financiers he might as well pack it in.

He's been bankrupt before. It's his way of doing business. Gets him out of his obligations to his creditors and his employees.

Yeah, there's that. As soon as one bank calls in its loan, others will quickly follow. Should that happen The Trump Organization will be no more and he'll file bankruptcy #7. It won't take any longer than 24 hours. *poof*

[MWmetalhead]

"Compiled" statements are about as useful as toilet paper in the first place. It means no auditing of the client's books has occurred.

That said, the type of disclaimer issued by Mazar is an extraordinary action. It almost assuredly is a default for various commercial loans.

I think some creditors will push the T.O. to sell assets on the open market in order to settle outstanding bank debt. Thought I heard the hotel in Washington was under contract for a sale price of $350 million?

[Matt]

No thread about the rats being identified in the Durham investigation?

[Turkeytop]

No thread about the rats being identified in the Durham investigation?

Why don't you start one?

[Matt]

No thread about the rats being identified in the Durham investigation?

Why don't you start one?

They're are "rats" on all sides. Why do we need multiple threads?

[Bryce]

No thread about the rats being identified in the Durham investigation?

Why should the buzzboard be any different than the majority of the media outlets?

[DaBears]

No thread about the rats being identified in the Durham investigation?

Why don't you start one?

They're are "rats" on all sides. Why do we need multiple threads?

There are rats and there are rats

[Bryce]

No thread about the rats being identified in the Durham investigation?

Why don't you start one?

They're are "rats" on all sides. Why do we need multiple threads?

There are rats and there are rats

Rats, Damned Rats and MSNBC anchors.

[Lester The Nightfly]

No thread about the rats being identified in the Durham investigation?

Maybe because nobody except the perpetually aggrieved are much interested in some 20 year slappy bitch fight between Clinton and the GOP.

[FakeAndyStuart]

No thread about the rats being identified in the Durham investigation?

Why should the buzzboard be any different than the majority of the media outlets?

Yeah, too bad you can't read about this anywhere.

https://www.cnn.com/2022/02/14/politics ... index.html
https://www.nytimes.com/2022/02/14/us/p ... Position=1
https://www.washingtonpost.com/politics ... democrats/
https://www.msnbc.com/opinion/msnbc-opi ... p-n1289097

This is a non starter. My favorite quote so far.. (emphasis added)

Most important, contrary to the reporting, the filing never said the White House data that came under scrutiny was from the Trump era. ... the data ... came from Barack Obama’s presidency.

Nothing to see here, fellas. Move on

[Bryce]

No thread about the rats being identified in the Durham investigation?

Why should the buzzboard be any different than the majority of the media outlets?

Yeah, too bad you can't read about this anywhere.

https://www.cnn.com/2022/02/14/politics ... index.html
https://www.nytimes.com/2022/02/14/us/p ... Position=1
https://www.washingtonpost.com/politics ... democrats/
https://www.msnbc.com/opinion/msnbc-opi ... p-n1289097

This is a non starter. My favorite quote so far.. (emphasis added)

Most important, contrary to the reporting, the filing never said the White House data that came under scrutiny was from the Trump era. ... the data ... came from Barack Obama’s presidency.

Nothing to see here, fellas. Move on

That is the most slanted, cover our ass reporting I've witnessed.

[TC Talks]

Well Bryce, you do live with your head up the GOP's ass so I imagine you don't witness much.