Trump University seized upon foreclosure crisis

[TomCADem]

Source: LA Times

As millions of people were losing their homes in the depth of the recession, instructors at Trump University were urging students to seek out anxious or desperate sellers to reap a financial windfall, according to recently released documents in the federal class-action lawsuit against presumptive GOP presidential nominee Donald Trump.

The now-defunct for-profit real-estate school, founded by Trump and two associates in 2004, offered workshops on how to take advantage of the foreclosure crisis in some of the hardest hit states, including California.

In a 2008 slide aimed at persuading potential students to sign up for a three-day, $1,495 workshop, Trump is pictured alongside a quote: “I’ve always made a FORTUNE in FORECLOSURES, and YOU WILL TOO. The timing will never be better than NOW! My recommendation is that you attend our retreat. ENROLL TODAY!”

That year, more than 2.3 million foreclosures were filed across the nation, including more than a half-million in California, said Daren Blomquist, a senior vice president at RealtyTrac, a housing data firm. “It was the height of the foreclosure market.”

Read more: http://www.latimes.com/politics/la-na-pol-trump-foreclosures-20160622-snap-story.html

[Dawson Leery]

1. Trump is actually worse than Cruz.

Trump belongs in jail.

[cstanleytech]

3. Why? I mean sure it was immoral of him but generally you cant jail people for being

immoral greedy assholes even people like Trump.

[63splitwindow]

4. State and federal criminal fraud statutes...

of which there are numerous, would be a good place to start.

[63splitwindow]

5. Not the scarfing up of distressed properties...

but the "University" that "taught" same would be one area of possible applicability.

[cstanleytech]

6. In what way? I mean it could be argued that anyone with atleast half a brain should

know that there is a finite need for real estate and unless you have millions to invest into it the odds of you being able to really make much money are not that great.
Oh sure some who get into it will get lucky but not the majority.

[Rex]

10. How he has stayed out of jail all this time, amazing.

Looks like the rest of Dump empire is falling apart.

[63splitwindow]

2. He IS the unprincipled moneyed elite that his supporters...

claim to be tired of controlling American politics. WTF (should be red in a LARGE font)

[Skittles]

7. CORRECT

[PJMcK]

11. You expect them to think? (n/t)

[jtuck004]

8. Lending to Poor People Didn't Cause the Financial Crisis

Two of Donald Trump’s economic advisers, Lawrence Kudlow and Stephen Moore, have revived an idea about the source of the financial crisis that really should have been put to rest long ago.

In a column published and rebroadcast by many politically sympathetic sites, they lay the blame for the credit crisis and Great Recession on the Community Reinvestment Act, a 1977 law designed in part to prevent banks from engaging in a racially discriminatory lending practice known as redlining. The reality is, of course, that the CRA wasn’t a factor in the crisis.

What’s so wonderful about their article, which is an attempted take down of the Clintons, is that they miss the very obvious ways Bill Clinton’s administration did contribute to the financial crisis. But doing that would have been at odds with their anti-regulatory philosophy.
...
But if you really want to blame a CRA, I can offer you some help -- check out the credit rating agencies. As the Financial Crisis Inquiry Commission concluded in its autopsy of the crisis: “The three credit-rating agencies were key enablers of the financial meltdown. The mortgage-related securities at the heart of the crisis could not have been marketed and sold without their seal of approval.”

Here.

Since the real estate swindler is gonna march this crap out again, I like to take the opportunity to remind people of the bank$ter donors and their politicians that actually took the money.

[Rex]

9. Welll...awwwwwwww....

Time for Trump to file for Chapter 11 again...

[Wolf Frankula]

12. Donald tRump is running for a White House with a Rose Garden

He may end up in a big house with a yard, in the same cell with Denny Hastert.

Wolf

[tanyev]

13. This should give us another highly satisfying Elizabeth Warren speech.

[cynzke]

14. WELL, WE NOW KNOW WHAT's IN TRUMP'S WALLET!

And where it came from. We just don't know how much currently. Mr. King of Debt. Mr. Vulture Capitalist! PREYS on the poor, stiffs his creditors. Has NO SCRUPLES or CONSCIENCE and promotes this as acceptable . Its ONLY about Trump and winning. He ACTUALLY BRAGS about his trash business deals and then he has the gall to question Hillary about her religious observations and convictions. Incredible! Trump's only religion is HIMSELF. Mr. Do Unto Others, Screw Them!