Trump NYC prosecutors resign -- they realized they had stupidly challenged standard Appraisal Practices

 When the case was first brought, I posted the DAs were idiots (NY DAs have a history of mixed stupidity and dishonesty).

Prosecutors Leading Trump Fraud Investigation in NY ResignProsecutors Leading Trump Fraud Investigation in NY Resign

Their case was a challenge to standard accounting and appraisal practices and didn't really attack Trump -- their attack was on the Banks & Financial Institutions who accepted the property valuations based on standard valuation practices.... in this case, there are three that happy:  Far Market Price (what a willing buyer and seller will freely and objectively agree upon -- this can also be based on "comparable sales"); Replacement value (cost to build the identical structure in the same location); finally, the capitalized value of the income (how much would be deposited at prevailing interest rates to generate same income).

As you can easily determine... given a fixed rental income if interest rates fall the value of that income increases.  Trump goes to banks using this mode of valuation... If an individual were buying the property they would use replacement value as their basis.  Government tax agencies are governed by laws which state far market value as the basis... hence, property taxes are based on one meantod and bank loans another.

The New York City District Attorney is far too stupid to understand the law or reality of the real estate business.  If they were smart, they would be in private practice and not living of the public doll.