The argument is presented below via CNN
As an ex lawyer who worked in the commercial real estate area, I have a few comments.
First, I take issue with the comment that all real estate developers do what Trump did. It is true that banks are often not very diligent in reviewing the loan documentation that they receive when they want to give a loan. That does not mean that loan applicants routinely distort the value of their assets , and lie to their accountants the way Trump did.
Indeed, if we accept the argument made in the video, then the entire commercial real estate industry has been riding a wave of fraud. If so, this judgment will correct their behavior, and that is a good thing for the banks, the market, and the public.
But what do you think?
What do I think? Kevin O’Leary is an asshole. He had the same sophistry and hyperbole as Trump.
Not sure why a dude like this got air time.