Making a legitimate business loan is not a simple process. Documents including projected sales, costs, cah flow, etc are generally required.<br><br>Many projections are so-called educated guesses. Both the loaner and the loan recipient have a fiduciary responsibilities. The latter to be as accurate as possible in their projections; the former to examine those projections carefully and independently test their probability.<br>
<br>For honest folks, that generally happens, although since knowledge of the future is far from certain, some loans, careful and prudently made, sometimes go bad.<br><br>Criminal and tort law becomes an issue when one or the other of the parties are less than honest, accurate, or intentionally unrealistic about the projections on the loan application.<br>
<br>Thus there are predatory lenders and predatory loan recipients. Some loan recipients never intend to repay fully, but to bargain down the amount owed, for example.<br><br>I agree wit Kit about Blixeth, who is the driving force behind the proposed Lochsa Land exchange.<br>
<br>w.<br><br><br><br><div class="gmail_quote">On Thu, Jan 12, 2012 at 3:04 PM, Donovan Arnold <span dir="ltr"><<a href="mailto:donovanjarnold2005@yahoo.com">donovanjarnold2005@yahoo.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
<div><div style="font-size:18pt;font-family:times new roman,new york,times,serif"><div><span>Paul,</span></div><div><span></span> <br></div><div><span>I think you lack <span><span>imagination</span></span> if cannot see how crafty lawyers and bankers lacking morals can devise ways to manipulate the economically desperate out of their <span><span><span>assets</span></span></span>. </span></div>
<div><span></span> </div><div><span>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
<span><span>obligations</span></span> of the contract. They are contracts most people would consider highly unethical and <span><span>exploiting</span></span> <span><span>vulnerable</span></span> people. </span></div><div>
<span></span> </div><div><span>Donovan Arnold</span></div><div><span></span> </div><div><span></span> </div><div><br></div> <div style="font-family:times new roman,new york,times,serif;font-size:18pt"> <div style="font-family:times new roman,new york,times,serif;font-size:12pt">
<div dir="ltr"> <font face="Arial"> <div style="margin:5px 0px;padding:0px;border:1px solid rgb(204,204,204);min-height:0px;line-height:0;font-size:0px" readonly></div> <b><span style="font-weight:bold">From:</span></b> Paul Rumelhart <<a href="mailto:godshatter@yahoo.com" target="_blank">godshatter@yahoo.com</a>><br>
<b><span style="font-weight:bold">To:</span></b>
Tom Hansen <<a href="mailto:thansen@moscow.com" target="_blank">thansen@moscow.com</a>> <br><b><span style="font-weight:bold">Cc:</span></b> Moscow Vision 2020 <<a href="mailto:vision2020@moscow.com" target="_blank">vision2020@moscow.com</a>> <br>
<b><span style="font-weight:bold">Sent:</span></b> Wednesday, January 11, 2012 8:02 PM<br> <b><span style="font-weight:bold">Subject:</span></b> Re: [Vision2020] Credit <span>Suisse</span> in court to defend loans to resort<br>
</font> </div><div><div class="h5"> <br>
<div>
<div>
<br>
Did Credit <span>Suisse</span> hold a gun to their heads or something?<br>
<br>
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.<br>
<br>
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.<br>
<br>
Paul<br>
<br>
P.S. Removed the long list of <span>CCs</span> on your email. They can
subscribe to the list if they are interested in responses, don't you
think?<br>
<br>
<br>
On 01/11/2012 04:38 PM, Tom Hansen wrote:
<blockquote type="cite">
<div>Why doesn't Tim <span>Blixseth</span> simply knock on Butch Otter's door?
I'm sure the Guv would be more than happy to oblige him.</div>
<div><br>
</div>
<div>Courtesy of <span>KHQ</span> at:</div>
<div><br>
</div>
<a href="http://www.khq.com/story/16499438/credit-suisse-in-court-to-defend-loans-to-resorts" target="_blank">http://www.khq.com/story/16499438/credit-suisse-in-court-to-defend-loans-to-resorts</a>
<div>
<div> </div>
<div>------------------------------</div>
<div><br>
</div>
<div>
<div style="font-family:arial,verdana,sans-serif;font-size:12px;margin-bottom:13px">
<h3 style="margin:0px 0px 10px;padding:0px;clear:both;font-size:1.5em;font-weight:bold;display:block">Credit <span>Suisse</span> in court to defend loans to resort</h3>
<h3 style="margin:0px 0px 10px;padding:0px;clear:both;font-size:1.5em;font-weight:bold;display:block"><span style="font-size:15px;font-weight:normal"><i><span style="line-height:normal;font-style:normal"><i><span style="line-height:normal;font-style:normal">By
MATTHEW BROWN</span></i></span></i></span><br>
</h3>
</div>
<span style="font-family:arial,verdana,sans-serif;font-size:12px">
<div style="font-size:1.1em;margin-bottom:15px;display:inline">Associated Press
<div style="margin:12px 0px;padding:0px">BILLINGS,
Montana (AP) - Attorneys for Credit <span>Suisse</span> 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.</div>
<div style="margin:12px 0px;padding:0px">Plaintiffs
backed by Yellowstone Club founder Tim <span>Blixseth</span> want $8
billion in damages. They claim Credit <span>Suisse</span> conspired
to loan the resorts more than they could repay and then
foreclose on them.</div>
<div style="margin:12px 0px;padding:0px">The other
properties were Idaho's Tamarack Resort, Nevada's Lake
<span>Las</span> Vegas and <span>Ginn</span> <span>Sur</span> <span>Mer</span> in the Bahamas.</div>
<div style="margin:12px 0px;padding:0px">Credit <span>Suisse</span>
says the lawsuit is without merit and motivated by
<span>Blixseth's</span> desire to divert attention from the
Yellowstone Club's problems. Thursday's hearing is in
U.S. District Court in Boise, Idaho.</div>
<div style="margin:12px 0px;padding:0px">Real estate
firm <span>Cushman</span> & Wakefield also is a defendant.</div>
</div>
</span><span>------------------------------</span></div>
<div><span> <br>
</span>
<div><span>Seeya</span> later, Moscow.</div>
<div><br>
</div>
<div>Tom Hansen</div>
<div>Spokane, Washington</div>
<div><br>
</div>
<div>"If not us, who?</div>
<div>If not now, when?"</div>
<div><br>
</div>
<div>- Unknown</div>
</div>
</div>
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