'Every real estate developer everywhere does this': Kevin O'Leary reacts to Trump civil fraud case

"Shark Tank" judge and O'Leary Ventures Chairman Kevin O'Leary joins CNN's Laura Coates to weigh in on former president Donald Trump's civil fraud trial in New York.
#CNN #News

[jwerlgm]

The lenders for student loans should be sued for overvaluing degrees.

[Carol-xtjf]

Trump was talking up his assets for loans and then talking them down for tax purposes.

[yvmmbxc]

I should sue the bank for overvaluing my house when I was buying it.

I should sue them again for undervaluing my house when I try to sell it.

[Mattys]

CNN wishes they could wipe this from their archives...

[kevinburke]

O'Leary's laughing and cynical dismissal of Trump's civil fraud indictment because "every real estate developer does this' demonstrates the deep and vile corruption of this business. I agree with him that all developers who indulge in fraud should be held accountable including himself if that's how he rolls. It occurs to me that the unsustainable rise in real estate prices and the ensuing housing crisis can be laid at the feet of these disgusting greed based business people who only care about feathering their own nests at the expense of the common good.

[lukedileo]

That’s the most blatant admission of guilt ever spoken. “We all do it”
no, we don’t.

[Singh]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold.

[cottontop]

I own buildings and I have to constantly borrow money for upgrades and maintain the buildings. This is really bad for real estate developers and commercial buildings. This is a freedom killer for even small businesses.

[BlkPanther]

This guy is encouraging all of us to be crooks because he is a one himself. Can you not run a business with honesty? This guy needs be investigated.

[gulloacastro]

I’ve been a banker for almost 40 years. Customers always try to overstate the value of their individual assets, but not in financial statements. When you alter your financial statements, it’s fraud.

[donaldstewart]

It won’t be a rich people’s problem it’ll be everyone who sells or trades a car. This is so hilarious.

[DirtyWopBastard]

Everyone made money, and no one lost money. This is a crazy new form of fraud I've never seen before

[DeltaV]

This guy is a real piece of work. He’s literally arguing that everyone lies to banks and the state governemnts and we should all just be cool with that. Also, trumps little “fudge” wasn’t a couple thousand, or even a few million. They over valued it by 100 million. And then they reported it far lower to the government. He also TRIPLED the square footage on these documents. This wasn’t “oh I wanna slap on a new coat of paint to make it look good.” He lied to defraud the banks and the NYS government.

[MegaErnieMAN]

The democratic party, is based off emotional support instead of reading or research. I challenge you to talk to a republican family member about how or why most people convert from democrats to republican when they finally know what they are talking about in my words

[namedjasonc]

"It's ok for /rich/ people to commit fraud, because the whole system is rigged! The rules are only designed to apply to the poor." --Kevin O'Leary, if you actually think about what the words he's saying mean.

[grimdolo]

He seems to have forgotten the part where they devalued their own property to pay less taxes.
Maybe we should investigate and sue every real estate developer.

[seancooper]

If that's the case, they should all be held accountable.

[UrbanLegend]

Yes Kevin O'Leary, every rich piece of $h*+ developer does if a working class homeowner ever tried to do it they would be charged with bank fraud, tax fraud and all kinds of other felonies and you'd be all good with them going to prison for something you see as a rich man's privilege....but is in all reality a crime...a felony!

[earlgarcia]

As a 40+ year CPA that's worked for real estate developers, trust me, Mr. Wonderful is spot on. When I tried to explain this to my liberal older brother, his response was "if everyone is doing it, they should all be sued!". Good Lord, there's no fixing stupid.

[dreamcoyote]

Here is the question she should have asked for this interview to have any value: At what point does inflating or deflating the value of your properties become fraudulent? Can you triple or claim 10x the value? At what point would O'Leary find the action illegal from someone he's doing business with?