Fogbow

RTH10260 wrote: ↑Sun Feb 13, 2022 9:07 am I tell you: It's a constipation conspiration

Donald Trump Jr echoed his father's words on Twitter, writing: 'BREAKING: Donald Trump and the RNC funded SIGINT collection AGAINST the Executive Office of the President of the United States, just like the Russians do. This is TREASON!
https://www.dailymail.co.uk/news/articl ... rvers.html

I'm thoroughly confused here. DJTj is making it sound like DJT and the RNC were the ones engaged in spying on the Exec Office of POTUS and committing "treason", not the victims of it. Am I somehow reading this wrong?

Thanks!

"For the record," the claim includes probing EEOB in February 2017," which basically the only allegations concerning a sitting president.

raison de arizona wrote: ↑Sun Feb 13, 2022 11:05 am
https://twitter.com/marmel/status/14927 ... 76261?s=21

I wonder whose body they shopped his head onto, as that photo drops 150 pounds off his fat ass.

Kriselda Gray wrote: ↑Sun Feb 13, 2022 11:34 am

RTH10260 wrote: ↑Sun Feb 13, 2022 9:07 am I tell you: It's a constipation conspiration

Donald Trump Jr echoed his father's words on Twitter, writing: 'BREAKING: Donald Trump and the RNC funded SIGINT collection AGAINST the Executive Office of the President of the United States, just like the Russians do. This is TREASON!
https://www.dailymail.co.uk/news/articl ... rvers.html

I'm thoroughly confused here. DJTj is making it sound like DJT and the RNC were the ones engaged in spying on the Exec Office of POTUS and committing "treason", not the victims of it. Am I somehow reading this wrong?

Thanks!

The quote leaves out the rest of Cokehead Jr's post:

"Just kidding, it was Hillary Clinton and a big tech executive. Durham is coming."

Frater I*I wrote: ↑Sun Feb 13, 2022 11:43 am The quote leaves out the rest of Cokehead Jr's post:

"Just kidding, it was Hillary Clinton and a big tech executive. Durham is coming."

Ah, thanks! That makes something closer to sense - as much as DJTj is capable of making, anyway.

Slim Cognito wrote: ↑Sat Feb 12, 2022 7:52 pm Coming soon to the Dollar (.25) Store near you.

No, TFG's PAC will buy 10,000 copies (at least). This is an easy and technically legal way of getting the money from his PAC into his own pockets.

Frater I*I wrote: ↑Sun Feb 13, 2022 11:43 am The quote leaves out the rest of Cokehead Jr's post:

"Just kidding, it was Hillary Clinton and a big tech executive. Durham is coming."

Given the Keystone Kops antics of the Durham prosecution so far (as ably pointed out by Emptywheel), "Durham is coming" does not sound particularly threatening. Rather than the ominous "Winter is Coming" from Game of Thrones, it evokes the "Landshark" skit from the early days of SNL.

jcolvin2 wrote: ↑Sun Feb 13, 2022 2:29 pm
Given the Keystone Kops antics of the Durham prosecution so far (as ably pointed out by Emptywheel), "Durham is coming" does not sound particularly threatening. Rather than the ominous "Winter is Coming" from Game of Thrones, it evokes the "Landshark" skit from the early days of SNL.

Candygram.....

Frater I*I wrote: ↑Sun Feb 13, 2022 3:21 pm

jcolvin2 wrote: ↑Sun Feb 13, 2022 2:29 pm
Given the Keystone Kops antics of the Durham prosecution so far (as ably pointed out by Emptywheel), "Durham is coming" does not sound particularly threatening. Rather than the ominous "Winter is Coming" from Game of Thrones, it evokes the "Landshark" skit from the early days of SNL.

Candygram.....

Oh, boy! I love Candygrams! (Chomp)

Suranis wrote: ↑Sun Feb 13, 2022 11:40 am I wonder whose body they shopped his head onto, as that photo drops 150 pounds off his fat ass.

He's about to jog down a carpeted staircase with no handrail, too also.

Kendra wrote: ↑Sun Feb 13, 2022 8:14 pm

Exactly what I said

https://www.msn.com/en-us/news/politics ... li=BBnb7Kz

Not going to end well for TFG. It is rare indeed for an accounting firm to tell the world not to rely upon the past ten years of financial statements that we have been preparing and signing off on. Mazars might be feeling some heat (don't know if true or not), and the senior partners decided to cut bait rather than risk additional scrutiny and license issues going forward.

So, it looks like there is a lucrative business opportunity for a new tax preparer.

I bet there are any number of extremely competent seasonal tax preparers out there that also offer notary public and document shredding in addition. I see their employees on street corners dressed in costumes or twirling oversized arrows to attract attention. Pro tip: Get your fees in advance and make sure the check clears before starting work.

It is less clear who will want to step into the morass of preparing financial statements for the various companies and individuals.

Tax firm Mazars fires Trump Organization as client, says former president's financial statements are unreliable

Who ever would have thunk?

Rubio: The documents that were at Mar-a-Lago by all accounts were turned over. Look if the process wasn’t followed then there needs to be something that happens about that. It’s not a crime I don’t believe

Kendra wrote: ↑Sun Feb 13, 2022 8:14 pm

This reminds me of the scandal that led to Spiro Agnew's resignation as VP.

Someone published a book entitled "The Wit and Wisdom of Spiro Agnew". It was 100 blank pages.

humblescribe wrote: ↑Mon Feb 14, 2022 5:10 pm https://www.msn.com/en-us/news/politics ... li=BBnb7Kz

Not going to end well for TFG. It is rare indeed for an accounting firm to tell the world not to rely upon the past ten years of financial statements that we have been preparing and signing off on. Mazars might be feeling some heat (don't know if true or not), and the senior partners decided to cut bait rather than risk additional scrutiny and license issues going forward.

So, it looks like there is a lucrative business opportunity for a new tax preparer.

I bet there are any number of extremely competent seasonal tax preparers out there that also offer notary public and document shredding in addition. I see their employees on street corners dressed in costumes or twirling oversized arrows to attract attention. Pro tip: Get your fees in advance and make sure the check clears before starting work.

It is less clear who will want to step into the morass of preparing financial statements for the various companies and individuals.

The articles I've read say "The company also advised the Trump Organization to inform any recipients of the statements, such as lenders or insurers, to not rely on the statements."

Any bets on whether that will happen? As if Trump is going to write his lenders a letter and say "You know those audited financial statements I gave you to obtain that $500,000,000 loan? You can't rely on them."

I think that Mazars may take a small hit on this. Even though they are not legally liable for any inaccurate information that Trump may have given them, potential clients may think that Mazars SHOULD have found the fraud. It will probably blow over, however.

Captain Renault: I'm shocked! Shocked to find that gambling is going on in here.

[a croupier hands Renault a pile of money]

Croupier: Your winnings, sir.

Captain Renault: [sotto voce] Oh, thank you very much.

noblepa wrote: ↑Mon Feb 14, 2022 8:10 pm The articles I've read say "The company also advised the Trump Organization to inform any recipients of the statements, such as lenders or insurers, to not rely on the statements."

Any bets on whether that will happen? As if Trump is going to write his lenders a letter and say "You know those audited financial statements I gave you to obtain that $500,000,000 loan? You can't rely on them."

I think these articles are going to widely passed around at businesses which did business with the Trump Organization. Will it generate lawsuits against the Trumps? I hope so.

I think the immediate effect is, nobody rational will ever lend this man another dime, or work for him without being paid in advance. The suckers will still keep him afloat; there's nothing you can do about suckers.

But we know from public reports that:

1. He owes hundreds of millions of dollars. REAL SOON. As in, before the 2024 primary season gets up and running. The lenders are going to know all about the Mazars fiasco. They're not going to be feeling generous.

2. Nobody can seem to find a business connected to Trump that is profitable. Not his golf courses. Not his buildings. Not his university, or his airline, or his casinos. Trump couldn't make money as a heroin dealer.

neonzx wrote: ↑Mon Feb 14, 2022 5:26 pm Tax firm Mazars fires Trump Organization as client, says former president's financial statements are unreliable

Who ever would have thunk?

Foggy wrote: ↑Mon Feb 14, 2022 8:28 pm I think the immediate effect is, nobody rational will ever lend this man another dime, or work for him without being paid in advance. The suckers will still keep him afloat; there's nothing you can do about suckers.

But we know from public reports that:

1. He owes hundreds of millions of dollars. REAL SOON. As in, before the 2024 primary season gets up and running. The lenders are going to know all about the Mazars fiasco. They're not going to be feeling generous.

2. Nobody can seem to find a business connected to Trump that is profitable. Not his golf courses. Not his buildings. Not his university, or his airline, or his casinos. Trump couldn't make money as a heroin dealer.

I wonder if the revelation that documents cannot be relied on will make companies look at the fine print in their contracts and find that REAL SOON is not soon enough but will notify that the $$$ needs to flow back right now

Big news: The judge added the Trump Org in NY back into our lawsuit against the Presidential Inaugural Committee. Our lawsuit is moving forward fully intact & full steam ahead. We sued the inaugural committee for misusing funds to enrich the Trump family. Now we’re going to trial

noblepa wrote: ↑Mon Feb 14, 2022 8:10 pm

humblescribe wrote: ↑Mon Feb 14, 2022 5:10 pm https://www.msn.com/en-us/news/politics ... li=BBnb7Kz

Not going to end well for TFG. It is rare indeed for an accounting firm to tell the world not to rely upon the past ten years of financial statements that we have been preparing and signing off on. Mazars might be feeling some heat (don't know if true or not), and the senior partners decided to cut bait rather than risk additional scrutiny and license issues going forward.

So, it looks like there is a lucrative business opportunity for a new tax preparer.

I bet there are any number of extremely competent seasonal tax preparers out there that also offer notary public and document shredding in addition. I see their employees on street corners dressed in costumes or twirling oversized arrows to attract attention. Pro tip: Get your fees in advance and make sure the check clears before starting work.

It is less clear who will want to step into the morass of preparing financial statements for the various companies and individuals.

The articles I've read say "The company also advised the Trump Organization to inform any recipients of the statements, such as lenders or insurers, to not rely on the statements."

Any bets on whether that will happen? As if Trump is going to write his lenders a letter and say "You know those audited financial statements I gave you to obtain that $500,000,000 loan? You can't rely on them."

I think that Mazars may take a small hit on this. Even though they are not legally liable for any inaccurate information that Trump may have given them, potential clients may think that Mazars SHOULD have found the fraud. It will probably blow over, however.

Captain Renault: I'm shocked! Shocked to find that gambling is going on in here.

[a croupier hands Renault a pile of money]

Croupier: Your winnings, sir.

Captain Renault: [sotto voce] Oh, thank you very much.

It is unclear just what services Mazars provided to TFG and his myriad entities. For traditional financial statements like reviews and audits, historical costs must be used for all assets acquired. For personal financial statements, the person provides the figures for fair market values of property owned and liabilities owed. Compilations can be all over the map, and I would assume that no one asked for compilations on TFG's properties.

I would assume that many of TFG's properties have some sort of cross collateralization provisions, including personal guarantees in case of default. So, inflated asset values can make it much easier to assert that the borrower is not in default or in violation of loan covenants.

I think it is safe to say that TFG played games with the FMV of the properties that he owned outright and also the FMV of the properties owned with others, especially when one generally discounts tenancies in common or partnership interests. I think that it is further safe to say that Mazars did not wish to rock the boat too much; the partner(s) more or less went along with whatever information they received.

When an accountant publicly announces that it is distancing itself from their work in prior years, this is rare indeed. I have never personally performed any work of this magnitude, evah. But I can say that my belt-and-suspenders mentality would be to do a little do diligence every so often so as to have some sort of assurance that values are not overstated/understated (depending upon client bias, you know) by a magnitude that would make me balk at issuing the statements.

I think this is more damaging to TFG than the Jan. 6 commission/investigation and the criminal/civil investigations that are ongoing. If TFG cannot borrow any more money, and if he cannot find another accountant willing to take him on as a client, things could go from bad to worse quickly when those loans become due and payable.

Then he'll be living with Melanoma and the kid in a single-wide in the Poconos.

I think the loans are all callable now, either because of the criminal indictment of the company (which almost always set off we want our money back now clauses) or the repudiation of the documents used to secure the loans (and that damn sure sets off we want our money back now clauses) and the only reason nobody has jumped up and demanded repayment is because they know that once one of them does, all of them will have to and there's nowhere near enough money in the pile to pay them all off, especially at panic sale prices.