Jon Stewart found to have overvalued his NYC home by 829% after labeling Trump’s civil case ‘not victimless’

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• ampedwolfman@lemmy.world ⁨7⁩ ⁨months⁩ ago

  Leave it to Tim Pool to completely miss the mark. The issue with Trump’s fraud case differs from this wildly. Trump inflates the assessed market value for an increased capital value to bolster collateral for loans. John Stewart put a giant sticker price on a building and some sucker bought it. Crazy thing about the free market, you can sell a shit sandwich for whatever someone will buy it for. Look at apple products.

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  • Lovstuhagen@hilariouschaos.com ⁨7⁩ ⁨months⁩ ago

    The argument is actually that Trump didn’t “lie,” he just did exactly what Jon Leibowitz (Stewart) does:

    “The attorney general of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties,” Stewart added. “It was all part of a very specific real estate practice known as lying.”

    …

    In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million.

    The property’s asking price at that time is not available in listing records.

    But according to 2013-2014 assessor records obtained by The Post, the property had the estimated market-value at only $1.882 million.

    The actual assessor valuation was even lower, at $847,174.

    Records also show that Stewart paid significantly lower property taxes, which were calculated based on that assessor valuation price — precisely what he called Trump out for doing in his Monday monologue.

    So:

    Trump based his own “inflated” numbers for loans on what the actual market value would be and, like Leibowitz, paid taxes at the lower assessed value.

    They did the same thing, it’s just that Stewart didn’t use his personal home for a mortgage and thus didn’t acquire one that would have given him a loan at the assumed market value…

    Do you see what I mean?

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    • ampedwolfman@lemmy.world ⁨7⁩ ⁨months⁩ ago

      Just so I’m perfectly clear on what you’re saying. You’re trying to tell me that a man who lied about the square footage and the overall assumed market value of his assets to show to lenders that he had overstated his assets for lower interest rates and wider availability of loans from investing companies is the same to someone who sold their building as an absolute premium? The better conspiracy theory argument would have been to say that John Stewart was laundering money.

      Again, the free market is the free market. People will pay what they feel the asset is worth. If this guy got suckered into paying such a premium that’s a him problem. Overstating your assets for lower interest rates and wider availability of funds is fraud. He was just found guilty of it…

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