Trump on Truth Social, Nov 28, 2023: “Andrew C. McCarthy: ‘There is no state-law requirement holding that…”

Truth Social Tuesday, November 28, 2023 12:47 AM

Andrew C. McCarthy: “There is no state-law requirement holding that if an asset is valued at X amount, a bank must charge a set interest rate. These are arms-length transactions. The banks made the loans because (a) Trump was a good customer who had a history of paying up; (b) if a bank had proposed a too-high interest rate, Trump could simply have gone to a different bank that would have welcomed the business; and (c) the banks don’t make money if they don’t lend, and they were happy with the tidy profits they consistently made on Trump loans.”

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