[Vision2020] Credit Suisse in court to defend loans to resort

[Donovan Arnold]

Paul,
 
I think you lack imagination if cannot see how crafty lawyers and bankers lacking morals can devise ways to manipulate the economically desperate out of their assets. 
 
It is possible to write a legal contract in such a manner that is confusing, intentionally misleading, and hard to understand for someone that is not very educated and experienced in matters of law and financing. These are not loans you and I get. They are presented only to particular people in desperate financial situations who are not in any real position to say no and have little chance of meeting the obligations of the contract. They are contracts most people would consider highly unethical and exploiting vulnerable people. 
 
Donovan Arnold
 
 
 

________________________________
 From: Paul Rumelhart <godshatter at yahoo.com>
To: Tom Hansen <thansen at moscow.com> 
Cc: Moscow Vision 2020 <vision2020 at moscow.com> 
Sent: Wednesday, January 11, 2012 8:02 PM
Subject: Re: [Vision2020] Credit Suisse in court to defend loans to resort
  

 

Did Credit Suisse hold a gun to their heads or something?

If a loan is more than you can repay, don't take out the loan.  If
    you do take out the loan and you can't repay it, then you can't
    exactly blame the bank.  Business owners should be doing due
    diligence on these loans.  If they were somehow sweet-talked into
    raising the amount past what they could expect to repay, then they
    should take full responsibility for the effects of defaulting on the
    loans.

Imagine what would happen if every business that took out a loan
    from the bank could sue the bank in court (with some expectation of
    winning the suit) if they couldn't make their payments.

Paul

P.S.  Removed the long list of CCs on your email.  They can
    subscribe to the list if they are interested in responses, don't you
    think?


On 01/11/2012 04:38 PM, Tom Hansen wrote: 
Why doesn't Tim Blixseth simply knock on Butch Otter's door?  I'm sure the Guv would be more than happy to oblige him. 
>
> 
>Courtesy of KHQ at: 
>
>
http://www.khq.com/story/16499438/credit-suisse-in-court-to-defend-loans-to-resorts 
>
>
>------------------------------ 
>
> 
>Credit Suisse in court to defend loans to resort 
>By MATTHEW BROWN
>  Associated Press 
>BILLINGS, Montana (AP) - Attorneys for Credit Suisse are due in court Thursday to defend accusations that the banking giant arranged hundreds of millions of dollars in predatory loans with the goal of taking over luxury resorts in Montana, Idaho, Nevada and the Bahamas. 
>Plaintiffs backed by Yellowstone Club founder Tim Blixseth want $8 billion in damages. They claim Credit Suisse conspired to loan the resorts more than they could repay and then foreclose on them. 
>The other properties were Idaho's Tamarack Resort, Nevada's Lake Las Vegas and Ginn Sur Mer in the Bahamas. 
>Credit Suisse says the lawsuit is without merit and motivated by Blixseth's desire to divert attention from the Yellowstone Club's problems. Thursday's hearing is in U.S. District Court in Boise, Idaho. 
>Real estate firm Cushman & Wakefield also is a defendant.  ------------------------------ 
> 
> 
>Seeya later, Moscow. 
>
> 
>Tom Hansen 
>Spokane, Washington 
>
> 
>"If not us, who? 
>If not now, when?" 
>
> 
>- Unknown   
>
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