Fact Check: Jon Stewart Falsely Claims
Loans to Trump Meant Fewer Loans To Other People
Breitbart Economy,
by
John Carney
Original Article
Posted By: ladydawgfan,
3/29/2024 1:21:43 AM
Claim: Comedian Jon Stewart said this week that the loans at the center of the civil real-estate case against Donald Trump meant there were fewer loans available to other borrowers.
“Money isn’t infinite. 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,” Stewart said.
Verdict: False.
The amount of money available for loans from banks is not diminished when banks make loans to other customers, except in the rare case of a distressed bank that is capital-constrained. A loan to one customer does not subtract from a fixed pool of loans
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Reply 1 - Posted by:
Jiobaobubai 3/29/2024 2:43:33 AM (No. 1688041)
Trying to distract from his own "identical crime?"
26 people like this.
Reply 2 - Posted by:
valinva 3/29/2024 3:54:40 AM (No. 1688054)
Stewart is vying for Janet Yellen's job by showing he is even more ignorant of the economic and banking systems than she is.
39 people like this.
Reply 3 - Posted by:
RWPollock 3/29/2024 6:15:58 AM (No. 1688072)
Let’s see, the bank loan Trump money. The bank made a lot of money. Doesn’t the bank use some of this money to make new loans to make even more money? John Stewart is a hypocrite, no moron. He just caught doing the same thing that he accuses Trump of doing.
25 people like this.
Reply 4 - Posted by:
Ruhn 3/29/2024 6:23:37 AM (No. 1688076)
That sound you hear is water starting to flood the ship S.S. Jonathan Liebowitz. Quite the hypocritical iceberg he struck. Now he's doubling down with a lie.
Once you lose your credibility, it's impossible to get it back.
20 people like this.
Reply 5 - Posted by:
mifla 3/29/2024 7:06:59 AM (No. 1688091)
Fact Check: This clown should be ignored.
10 people like this.
Reply 6 - Posted by:
Sully 3/29/2024 7:25:45 AM (No. 1688109)
How can a successful business loan lead to fewer loans? What...so...the banking business is self destructive??
Wow. Someone, please, stop all successful business loans before we have a global depression!
12 people like this.
Jon Stewart’s intellect (or that of his “writers”) is obviously tainted and obtuse.
10 people like this.
Reply 8 - Posted by:
broken01 3/29/2024 7:46:01 AM (No. 1688129)
Another "that's not how that works" moment. This time by the very dumb and hypocritical John Liebowitz.
10 people like this.
Reply 9 - Posted by:
Strike3 3/29/2024 7:47:38 AM (No. 1688130)
Has Jon Stewart EVER been quoted for saying something intelligent, or true?
10 people like this.
Reply 10 - Posted by:
Ida Lou Pino 3/29/2024 7:59:29 AM (No. 1688150)
Old Brooklyn Saying - - - -
"He couldn't run a candy store if you put a gun to his head."
And that applies to all moron leftists - - who have never had a real job in their lives.
5 people like this.
Reply 11 - Posted by:
seamusm 3/29/2024 8:02:56 AM (No. 1688154)
If the Feds weren't spending money we don't have (and our children's children won't have) - and if the Federal Reserve weren't then having to print money hand over fist - then inflation wouldn't be our reality. These are the classic explanation for inflation - more money than things to buy. If these things were weren't true then maybe Stewart might be at least theoretically correct but probably not because the banks would still prefer to loan money to those who already have it - and Trump is clearly one of those.
5 people like this.
Reply 12 - Posted by:
bpl40 3/29/2024 8:10:11 AM (No. 1688161)
Jon Stewart (an unintentional comedian) is a libturd. That is a different set of rules and laws.
4 people like this.
Reply 13 - Posted by:
stablemoney 3/29/2024 8:49:52 AM (No. 1688197)
Stewart is an ignoramus, not understanding our fractional banking system, whereby a bank can create money with a bank loan. The only limit is the capital of the bank, and that can be overcome by partnering with another bank.
6 people like this.
Reply 14 - Posted by:
franq 3/29/2024 8:58:28 AM (No. 1688203)
Help me out here... If my house is only worth $300,000, why would I borrow $700,000 to buy it? Asking for a friend.
6 people like this.
Reply 15 - Posted by:
Lawsy0 3/29/2024 9:05:01 AM (No. 1688213)
Stewart is unclear on the concept of lending institutions. Jon probably thinks that the money available is a zero-sum and after that is gone, there is no more. Duh. They call it credit rating for that very reason. After all, he identifies as a comedian.
8 people like this.
Reply 16 - Posted by:
VirtuDawg 3/29/2024 9:06:15 AM (No. 1688215)
Jonathan Liebowitz (alias "Jon Stewart") is a COMEDIAN? On what planet, in what universe???
10 people like this.
Reply 17 - Posted by:
janjan 3/29/2024 9:07:07 AM (No. 1688216)
Every time some delusional celebrity pretends to be an expert on something they only embarrass themselves. And the morons who listen to them are even dumber.
10 people like this.
Reply 18 - Posted by:
jkb 3/29/2024 9:24:50 AM (No. 1688235)
FTA: "Money isn’t infinite." Tell that to the printing press at the Treasury. At least Justice KBJ knew she wasn't a biologist. Stewart clearly isn't an economist.
7 people like this.
Reply 19 - Posted by:
VietVet68 3/29/2024 9:31:44 AM (No. 1688240)
So this is just confirmation that John Stewart is the idiot we thought he was...got it.
16 people like this.
Reply 20 - Posted by:
Krause 3/29/2024 9:43:28 AM (No. 1688248)
He didn’t know that? I guess he spends his time thinking up unfunny jokes. It’s like saying ‘I can’t get a good paying job because the rich people are making all the money.’
6 people like this.
Reply 21 - Posted by:
jhpeters2 3/29/2024 9:53:27 AM (No. 1688257)
Zero sum idiot. Just like all lefties.
6 people like this.
Reply 22 - Posted by:
franq 3/29/2024 10:11:39 AM (No. 1688268)
This comment was posted after the BE article. Enjoy.
"I bought a Ford Focus with 200,000 miles. I went to a bank and told them it was worth a million dollars. They gave me the loan and I used it to buy a house. I went to a bank and told them that my house was worth a billion dollars. They gave me the loan and I bought a thousand more mansions in the same way. Now I'm a trillionaire and I owe it all to Jon Stewart for explaining to me how it works."
5 people like this.
Reply 23 - Posted by:
snowoutlaw 3/29/2024 10:27:53 AM (No. 1688275)
On the theory that there is a limited amount of money the banks would loan to the lowest risk borrowers. Therefore, if the money was lent to some other borrower, that borrower would be higher risk and more likely to default.
3 people like this.
Reply 24 - Posted by:
PrayerWarrior 3/29/2024 11:11:54 AM (No. 1688311)
Isn't this the same Jon Stewart that over-valued his property so as to gain a bank loan? He's doing what he accuses Trump of doing. This is the kettle calling... you know, the thing...(hat tip to Biden)
5 people like this.
Reply 25 - Posted by:
linkay6 3/29/2024 11:20:20 AM (No. 1688318)
Banks operate on interest income. They loan more money if they take in more money. He doesn't have a clue!
5 people like this.
Reply 26 - Posted by:
Zigrid 3/29/2024 11:25:37 AM (No. 1688321)
This is so delicious...he's done the same thing he accuses President Trump of doing...it's NOT a crime if the leaning bank agrees...which the Deutsche bank did in the President Trump case...except...Ole Jon cheated the IRS by holding back his taxes...which President Trump never did....Oh dear...here comes Lois Lerner....
5 people like this.
Reply 27 - Posted by:
dwa 3/29/2024 12:58:01 PM (No. 1688371)
Court jester is probably a more accurate description than comedian.
3 people like this.
Reply 28 - Posted by:
Birddog 3/29/2024 1:03:50 PM (No. 1688375)
Banks do not loan money from cash reserves...they re-loan monies that THEY borrow, at much lower interest rates than that on the loans they make.
How much banks can borrow,and at what rate, are based upon the values of the mortgages/securities/receivables on their books...When a bank or lender loans Trump millions, on Billions worth of property pledged as secuirity, the amount THEY can borrow goes up, as does the amount they can LEND to others.
The "Clincher" on the Trump loans in question was never about the valuation of the properties anyway...The lenders testified that they instantly made the deal when he gave his "Personal Pledge", His WORD alone is worth $Billions to them.
As opposed to "True story, not joking, Give you my word....as a Biden...Joey", who didn't borrow money for his various homes...he simply paid CASH, Cash which magically appeared, by the $Millions...when his salary never exceeded $200k yr.
It came as "Down-payments from Book Deals", someone should crunch the numbers on Book Sales, did the "Profit" to the publishers justify the Cash they gave him? Or dd they fraudeulently inflate values to allow those transfers...depriving other "Authors" from getting book deals?
5 people like this.
Reply 29 - Posted by:
Foghorn 3/29/2024 6:50:58 PM (No. 1688568)
The banks assessment at the county or state tax assessor are frequently not the same. The county assessor is usually lower than the banks. In the Trump case there was no victim, no one lost money or was harmed in any way and therefore the only law broken was the unconstitutional New York law. The motive for the charges was solely to stop Trump from running for president, the same tactics used by third world country socialist.
2 people like this.
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Moron!!