Screenshot / YouTube, The Daily Show ; Gage Skidmore CC BY-SA 2.0 DEED, via Flickr, Cropped by Resist the Mainstream
Comedian Jon Stewart ranted this week that Donald Trump’s civil real-estate case, which overvalued his properties, was “not victimless.” However, Stewart himself benefited from a similar inflation when it came to his own home, a closer look from various media outlets and social media users has revealed.
During a segment on Monday night, “The Daily Show” host delved into Trump's $454 million appeal bond, challenging assertions from experts that the case posed no direct harm to individuals.
In a clip from CNN's Laura Coates interview with “Shark Tank” star Kevin O'Leary, O'Leary defended common real estate practices, prompting Stewart to question the lack of outrage over real-world overvaluations. Stewart emphasized that such actions are far from victimless, arguing that they perpetuate a system incentivized for corruption by diverting loans from more honest evaluations.
“Everything that you just listed off is done by every real estate developer everywhere on Earth in every city. This has never been prosecuted,” O’Leary replied in the shown clip.
In response, Stewart asked: “How is he not this mad about overvaluations in the real world?”
“Because they are not victimless crimes,” he said.
“Money isn’t infinite,” Stewart added to further his point. “A loan that goes to the liar doesn’t go to someone who’s giving a more honest evaluation. So the system becomes incentivized for corruption.”
“The attorney general of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties,” the host continued. “It was all part of a very specific real estate practice known as lying.”
Stewart condemned the practice of undervaluing properties for tax purposes while declaring higher market values, branding it as fraudulent. He highlighted how Trump's undervaluation of properties for tax payments contradicted inflated valuations elsewhere, labeling it as a form of deception common in the real estate industry.
Stewart faced online mockery following the rant after reports revealed his own overvaluation of his New York City home during a sale, mirroring the very behavior he criticized Trump for. Podcast host Tim Pool, a political commentator, accused Stewart of hypocrisy, igniting a storm of social media commentary.
Stewart's representatives remained silent in response to requests for comment from The New York Post, as details emerged regarding the significant overvaluation of his penthouse by 829 percent.
The sale of Stewart's Tribeca duplex to financier Parag Pande for $17.5 million contrasted starkly with its market value of just $1.882 million, as per assessor records.
This revelation raised questions about Stewart's motives, especially considering his vocal criticism of Trump's practices. Despite Stewart's attempts to expose Trump's actions, his own involvement in similar practices undermined his credibility on the matter.
Parallels were drawn between the citation method used in Stewart's case and that employed by New York Attorney General Letitia James in valuing Trump's properties, leading to a lawsuit against the former president for inflating assets. Market value was conspicuously absent from consideration in both instances, highlighting systemic issues in property valuation.
The difference between Stewart and Trump's cases lies in a judge's ruling regarding Trump's exaggerations to lenders about property sizes, further complicating the narrative surrounding real estate practices and legal accountability.
Scroll down to leave a comment and share your thoughts.
Source link