Reminds me of a school bully...
by Kbyrnes (2024-01-31 14:42:15)
Edited on 2024-01-31 15:04:04

In reply to: In the MAGA world and even cropping up in the less crazy  posted by ACross

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...Yeah, I took your five dollars, but your family is rich--you won't miss it, so what's your beef.

Or if I didn't pay my taxes for 5 years, then paid up--I don't think the IRS would accept, "Hey, you got all your taxes--what's with this interest and penalties BS?"

The example an exoneration of this criminal behavior would set would be terrible. Go ahead, fudge everything, lie to your counterparties; as long as it works out in the end, what's the big deal? Sheesh.

I'd think there would be a lot of moral hazard to a policy that said, "Your intentional fraud against your counterparties was technically a violation of the law, but because they didn't really suffer, we'll issue a nominal penalty." The public is the long-term victim of the idea that financial fraud should be almost tolerated as long as in the end the "victims" really didn't lose out. Such a policy could easily be imagined to encourage more financial fraud...and what happens when, oops, the thus-encouraged financial fraud really does have a bad result?

Here's a better policy: Keep laws on the books against fraud. If you don't want to be punished for committing fraud then, gee, don't do fraud. A novel idea for Trump, I suppose.

He sees businessman like he sees POWs....
by Marine Domer  (2024-01-31 15:56:58)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

He likes the guys that don't get caught.

Wow. I like that. Perfect analogy. *
by eriendfan  (2024-02-01 21:21:03)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

agreed... reminds me of the subprime mortgage crisis
by flapjack  (2024-01-31 15:13:17)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

Banks made loans to people that could not afford them. Those bad loans were hidden in mortgage backed securities. What could go wrong?

Trump put the bank at risk by lying about the value of his assets. Trump benefited by taking a risk with other people's money. It is not a victimless crime.