23 Feb 2024 11:38 am
Again, any lending institution is required to do their own independent evaluations of R/E and other assets!!!R.Suave » 23 Feb 2024, 12:33 pm » wrote: ↑ A remarkable display of mendacity and ignorance.
Grifty wasn't doing business with commercial banks at the time, having been jettisoned by DB's commercial arm after his $700 million default.
He wasn't offering real estate as collateral, he was attesting to his net worth in order to qualify for advantageous terms. Those attestations were bogus.
DB's risk officer testified that they applied discounts to many of Grifty's valuations because they were so out of proportion to market data.
"At the time?" When was this?