Posted on 03/06/2016 12:30:24 PM PST by Hostage
I looked into Trump University. It was active in the earlier 2000s when a housing boom and then bubble were in full swing. Nearly every person that paid for the training rated it highly and many made a lot of money in real estate.
But in 2008, many people lost money. In 2008, there was a massive real estate collapse due to a once-in-a-century banking collapse.
Is Donald Trump responsible for the real estate collapse of the late 2000s? Of course not. Is he then responsible for people losing money? No.
Greedy lawyers filed for a class action. They certified from the enrollment lists of Trump U a total of 30,000. That does not mean in the least that 30,000 persons think they were scammed by Trump U. Very few think they were scammed.
What it means is that these lawyers (whose backgrounds are found to be unethical) had cheaply printed on small cards a mailer to 30,000 recipients stating that a class action had been filed against Trump U. Such cards always state that the recipient has a chance to opt out in case they wish to pursue their own lawsuit. In almost every such filing, more than 90% throw away the card and so they are opted in by default. And in every one of these cases, the litigants collect very very little while the lawyers take away millions.
The case has dragged on for many many years which indicates that plaintiffs are filing continuances because they can’t get the case together, they are trying to pad their billing or they are hoping to harass their way to a settlement.
That the media would bring the plaintiff’s side of the case to the spotlight to have it tried in public is disgusting. As far as I can tell they have not brought any of the defendant’s facts of the case to the public, only the plaintiffs (who are for all intents and purposes the lawyers). This is beyond disgusting, it is a lynching.
I heard Donald Trump on a video clip say in the debate that it would be very easy for him to settle the case out but he does not choose to because the case is not strong on the plaintiff’s side. But that didn’t stop Fox News from trying to damage Trump with pending litigation.
It would be like having news media report an old nuisance case on you and try and convict you in public without giving you due process. I don’t think you would be happy to see that happen and I’d bet you wouldn’t be able to hold yourself together as well as Donald did in the debate.
Until there is a court ruling, this case means absolutely nothing. We don’t rule against someone before a ruling is made and that is what was attempted here by Megyn Kelly. She is disgusting.
Maybe his students created the bubble by house-flipping. There is that.
Anyway, it was apparently a the equivalent of a used $5.00 book on house-flipping for $30,000.00. Those who paid it and came out behind the curve are in the same shoes as those who filled up their garages with Amway junk and lost their money. As a judge or juror, I would have no sympathy. In fact, if it were up to me (and I’ve said this), the plaintiffs would have to give Trump $30,000.00 more for not learning their lesson in basic economics when they first pissed away $30,000.00 on a $5.00 used book.
And I am a Cruz supporter.
apparently the equivalent
Well, I know the educational institution was told to remove the word university out of its name and the AG for New York believes a fraud was committed. It really doesn’t look as good for Trump as you let on.
It sounds to me that some of them were subjected to high-pressure sales tactics. Nothing illegal n that, but not necessarily admirable.
A well located rental property should never do worse than break even or a small loss, maybe 5%. Unless you overpay, under-maintain and don’t vet your tenants properly the income plus the tax advantages should put bucks in your pocket.
I thus stand corrected. It was a used $5.00 book on house-flipping for $1500.00, not $30,000.00. I’d still charge the idiots who paid it and weren’t satisfied $1500.00 more (payable to Trump) for being such idiots and pissing away $1500.00.
Thanks for info in OP Hostage. Although for the sake of debate I won’t regard the dust as settled on Trump U just yet, you have presented Trump U legal problems in a wider context that helps outsiders like me to understand the issue.
In other words, Amway. Or that MLM thing that Carson sold and got grief for here, because Carson isn’t Trump.
See the film ‘The Big Short’. It wasn’t Donald Trump that created the housing bubble, not by a long shot.
And it wasn’t $30k for seminars, it started at $1500. So that’s another scumbag media lie you let them cram up your rear. Shows you for the tool you are.
The seminars were conducted at a time when housing was booming and a lot of people made money. They lost money later when the housing market collapsed. That’s not Trump’s fault.
I read just recently that Trump made 40 million on his Trump University.
When was the BBB rating elevated to an ‘A’ and for how long?
I haven’t seen it.
Victims of these schemes feel ashamed because they weren’t just stupid but also greedy. Mostly they prefer to keep quiet about it.
No but you get my point. Millions of folks seeking to get rich quick by taking advantage of phony appraisals and easy lending criteria (”Yeah, put down that I make $500,000 a year - that’s the ticket!”) exacerbated the situation that resulted in the inevitable crash. Trump didn’t create it. But he certainly raked in a lot of tuition money. Well, good for him. I’m voting Cruz on Tuesday but still backing Trump in the general if it’s him. This isn’t a big deal for me. Kind of like Carson selling crap supplements. But Carson was roundly criticized here. Perhaps by some of those giving Trump a pass. But in both cases, it’s a big nothing.
I agree. Live and learn. I’ve had buyer’s remorse and learned not to do it again (usually).
Good news! You can now buy Trump’s wealth building secrets for $1.99
Oh, see my #27. I corrected myself for the record. It wasn’t a $5.00 used house-flipping book for $30,000.00. It was a $5.00 used house-flipping book for $1500.00. :-)
Like "Beaver" Cleaver?
;^)
Trump complied with the frivolous AG request and changed the name to Trump Entrepreneur Institute.
It is ‘evident’ that Trump has the upper hand because the case has dragged on for so long. If the plaintiff lawyers had a case, Trump would have long ago settled.
The ratings were A+ before the real estate collapse, D- after the collapse, and according to Trump elevated back to A after the D-. And the point is the real estate collapse was not the fault of Trump. It was the fault of the Uniparty and Bush’s lack of enforcement even as SEC LEOs were blowing the whistle.
LOL! That’s awesome!
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