cute fuzzy bunny
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
If I may, a random photo of the Hanson Brothers.
Harrah's has a system whereby people can place themselves on "Do Not Admit" status. If they approach the casino, they will be barred. I am not sure if all the security staff have photos, or just how they do this. Also not sure if a do not admit listee can just say, Oh, I don't need that anymore and go on in. The casinos get away with stronger behavior than McDonalds could, so maybe they have answers for this.Now, about the debtor woman, I will repeat that these people have low EQ, a disease or deficiency, whatever you want to call it, which also afflicts people in higher socioeconomic classes, like the veterans Nords described in another thread. I am not sure that there can be a cure. For example, some people like to gamble, and if you ban all casinos, they will flock to Schwab and ETrade. What can we do?
According to your logic, and your stated way of thinking, shouldn't we all feel equally sorry for all of the poor bankers that lost huge amounts of money? What about all the piling on of them?
MonkeyBusinessBlog: Good Thing CEO Compensation is Getting Straightened OutFreddie Mac CEO Dick Syron’s unique pay package whereby compensation moves inversely with performance paid off in 2007. Mr. Syron’s pay increased 25% or $3.6 million. Freddie Mac’s stock price dropped 61% in 2007, while net income swung from a $2.3 billion profit in 2006 to a $3 billion loss. The company projects steeper losses in 2008. Included in Mr. Syron’s compensation was a special one time $1.25 million bonus for extending his employment agreement through 2009.
A company spokesman stated, Freddie Mac is committed to take the company into insolvency and only a man of Mr. Syron’s skill set can get the job accomplished. We appreciate his extending his employment contract as it might take longer than 2 years to accomplish this goal. Mr. Syron was unavailable for comment...
The Mozilo Family Executive Dining Center in Villa Graziadio represents a recent choice that this couple made, an investment in education that will endure beyond their lifetimes. ... Mozilo holds an honorary doctor of laws degree from the business school at Pepperdine University. Balancing leadership with community involvement, Mozilo has received the Hogan Entrepreneurial Award, the Ellis Island Medal of Honor, and the Albert Schweitzer Award for service to youth.
Apparently she persuaded her son to co-sign a loan application and then spent lots of money on home shopping channels (“'Eight weeks in bed by yourself is very dangerous when you have a TV and credit card,' Ms. McLeod said.”). Now her son's credit history has taken a beating, and she is planning to walk away from her obligations by declaring bankruptcy.
That's not taking care of her family, or doing the right thing.
In a way, you are right in that the loans could have been originated at the top, but no matter what you do or package it, these loans NEED to be taken by those at the bottom. In other words, you are kind of suggesting induced demand (has a decent article on wikipedia, more like enough supply creates demand almost).
And, I never said that she ISN'T feeling the pain, if I did I feel I wrote poorly. What I am trying to say is that she SHOULD (as she is). I am not saying this out of spite or anger or contemptuously looking down on her on my high horse, but the fact that based off the agreement that she had with the creditor, she was supposed to pay off the credit card debt. Just, and again it isn't specifically from her but an indictment against many of those in debt's attitude, many of those who want to hang the credit card companies will completely favor a bailout of those in debt.
I stand by the companies and the debtors should be held responsible for their actions (and the stockholders/bondholders). If it causes higher rates, then don't buy the product, or make your own company and try to beat their rates. In other words, the creditors ARE offering a service, no matter how expensive it actually is, it does help people. The problem I see is when the agreement falls out, everyone jumps in to help out (not this case again) the debtor, but not the creditor because of "predatory practices"
Don't worry, we will just have our fat rendered like everyone else's.
I don't think bankruptcy is a walk in the park. And the point is that 'savvy' financial companies should have the money salted away to deal with the odd defaulter, thanks to the super-high 15%-20% or more fees they charge these people for credit. You can't expect to reap the high fees yet keep little on hand to CYA, but that's basically what they did.
LOL-if you don't mind, I'd prefer to recycle into Pork Rinds. To be eaten with yak butter.Dont sweat it Ha, I'll make sure you're made into a few fine sides of bacon.
We'll have to fatten you up a little bit between now and then, so keep eating those pork chops for breakfast!
So haha, how come I don't like your current avatar as much as the previous one?
-ERD50
I see your point, but you have to admit there is something strong about the Dog.
Financial suicide is similar to other forms of self-destructive behaviour (e.g. smoking, drinking, overeating, etc.).
That is certainly not the way I choose to live my life; but from their perspective, it probably makes sense.
There already is a bailout for those in debt. It's called bankruptcy.
Maybe what we are seeing here is a type of Stockholm Syndrome. I used to think that ordinary people who sided strongly with power might at least be hoping that they could aspire to that power themselves- but our posters are a bunch of people whose major ambition is to quit working! Not much hope of power there!
So maybe it is more magical- identify with power, and maybe some of it will rub off on oneself.
I don't think bankruptcy is a walk in the park. And the point is that 'savvy' financial companies should have the money salted away to deal with the odd defaulter, thanks to the super-high 15%-20% or more fees they charge these people for credit. You can't expect to reap the high fees yet keep little on hand to CYA, but that's basically what they did.
armor99, because "they" personally did not lose money. They hardly ever do. The shareholders/bondholders/taxpayers lose.
MonkeyBusinessBlog: Good Thing CEO Compensation is Getting Straightened Out
(goofy random blog found by chance)
but it's pretty much anywhere you care to look:
CEO pay climbs despite companies' struggles - USATODAY.com
While we reserve harsher sentences for the crack dealer than for the crackhead, the prisons are full of many more crackheads than serious dealers. And in our society debt <=> crack.. but we collectively need and want the crack, so the dealers are rarely prosecuted, and are considered pillars of society, rather.
My right-wing sis got a Pepperdine MBA. She defends the school's right-wing, Christian, moral approach to business.
Pepperdine People Magazine, Fall 2005 - Pepperdine University
Cracks me up.. the "Executive Dining Center" is an "investment in education".. what? an education in assessing various vintages of Bordeaux and Dom Perignon? THANK GOD that executives visiting Pepperdine have been saved from -I can only imagine- utter squalor during their repasts.
Man, do I want to see this guy in handcuffs.
Sidenote: I think it may be different in every state. I always thought that bartenders weren't legally obligated to cut off a drunkard. I thought that it was because one overtly drunk person can scare away customers/dampen the mood, and (most commonly) puke all over the bar.