11 Comments

To read a post like this makes me feel far less crazy! Your analysis is great! Speaking of Swalwell, Ben Garrison says: "you make bang bang with fang fang, me give you money. Me love you long time! Hilarious cartoon, wish that I could post an image!

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The fact that he hasn't been forced to resign is telling.

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You have a lot of wisdom, Mr. Carter. I would enjoy sitting at the bar and having a beer with you.

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Thanks. Come to Vegas....lots of bars here!

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Great stuff.

Lavrentiy Beria said, "Show me the man and I'll show you the crime."

As to the shy accountants who said you cannot rely upon their work, I wonder if they refunded the Trump fees? If their work is now unreliable, then they should return the fees as I am certain the Trump Organization relied upon the accounts' information.

As to value -- there are a number of different types of value used for different audiences.

One could delve into liquidation value -- the price at which an asset might be liquidated under varying market conditions.

One could delve into enterprise value.

How about the recreation value, the discounted cash flow value, or the market value? How about the cost approach?

How about loan value at 75% of LTV and 1.5 DCR?

All of these concepts are used simultaneously by real estate professionals for different audiences. They are never ever the same because they are different values used by different audiences for different purposes.

Real estate pros know this and act accordingly. While they may all have the word "value" appended to them, they are as different as a horse and a zebra.

Lenders are interested in collateral value.

Tax assessors are interested in tax value which is a very arcane calculation.

The IRS may be interested in "market" value when assessing the value of a donation of an interest in real property as part of a plan of charitable giving.

The one thing that is true -- after almost a decade of delving into this Trump character, nobody has found anything.

JLM

www.themusingsofthebigredcar.com

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When we were doing our IPO at CME we used the white shoe firm of Sidley Austin to do a lot of the legal and tax work. They totally screwed it up and it was found out post demutualization. CME had to pass a referendum, and Sidley refunded all their fees. So, great point on refund of fees.

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No Pulitzer to be had for chasing down corruption or malfeasance by a Democratic office holder (or family member thereof); the Foundation is fully captured by the political left. Besides, any journalist with hopes of working for someone other than perhaps Fox News or its much smaller and less prestigious associates on the political right knows perfectly well that they would become the human embodiment of the Grinch. No hiring manager for the wealthiest media conglomerates would have anything to say, other than "I wouldn't touch you with a 39 1/2 foot pole!"

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Wharton? Didn't someone else discussed in this article go to Wharton?

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It's no Chicago Booth if that's what you are getting at! : )

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Sorry to be a Syrian flatbread -> Pita -> pain-in-the-ass but jibe vs jive says this needs an edit.

Good post btw.

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thx, will fix. I am my own editor so I make mistakes!

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