Explain Like I'm Five

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ELI5: How does Trump benefit from overvaluating his assets? (youtu.be)

submitted 10 months ago by [email protected] to c/[email protected]

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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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[–] [email protected] 30 points 10 months ago (2 children)

OMG 🤦 Thank you for explaining this. Now I get why he keeps saying that no banks were harmed. And now it makes sense why they believe he owes so much in taxes.

Okay, I'm tracking like a VCR

[–] Varyk 5 points 10 months ago

Now you just playin'

[–] [email protected] 1 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

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... 🤷

[–] [email protected] 2 points 3 weeks ago

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