Letter: Embellished financial statements

It’s nice to find humor in the morning paper outside the funnies. The latest source of comic relief is the fraud trial going on in New York. Apparently it’s a criminal offense to embellish a financial statement. That would be serious if any one actually looked at them. I submitted countless financial statements to banks and they were never even looked at. In the 5 years as a Realtor and 50 years as a property investor, I never figured out what method financial institutions used to lend money. At first I had the Magic 8 Ball theory but decided on the paper weight method. When the paperwork took on a certain weight the loan was approved. One of my weight approved loans was called after 5 years of on time payments on a technicality. The bank took my money and borrowed it back out at 2% less. If banks can’t figure out basics of lending, I doubt prosecutors in New York will have any luck.