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ELI5: How does Trump benefit from overvaluating his assets? (youtu.be)
submitted 1 year ago by ZMonster@lemmy.world to c/explainlikeimfive@lemmy.world
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I've been trying to keep up with it but I just don't understand how he profits from this scheme?

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[-] 14th_cylon@lemm.ee 1 points 4 months ago* (last edited 4 months ago)

Now I get why he keeps saying that no banks were harmed.

which is true only until the business he needed the borrowed money for goes sideways, he doesn't have the money to pay back and the bank finds that the collateral doesn't have the value he claimed when borrowing the money.

edit:, oh f..k, i am replying into a year old thread, well... 🤷

[-] ZMonster@lemmy.world 2 points 4 months ago

Hah 😂 no worries friend. So much of this bizarro-world shit show has happened in that time.

this post was submitted on 12 Oct 2023
66 points (86.7% liked)

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