- “This is robosigning all over again,” said Robyn Smith, a lawyer with the National Consumer Law Center, a nonprofit advocacy group, referring to the way that banks, at the height of the mortgage crisis, brought thousands of foreclosure lawsuits without reviewing the underlying paperwork.
And it's all private loan stuff. In other words, fucking over the most vulnerable.
The more and more I get into the whole student loan malevolence the more I stand by my assertion that we should stop telling kids to go to college. I'm beginning to think that if we want to end the poverty cycle, we grab these kids that are being told to go to college or else and instead loan them 10K, use that to get them into a trade union, and they have the financial resources to buy the tools, safety gear, boots etc they need to get rolling. That 10K will be repaid in 2-3 years. Oh and the country starts to rebuild its blue-collar and union foundations, we avoid the trade-skill Armageddon in 10-15 years when all these old guys die or retire and we start fixing things again in this country. And then I woke up and realized I live in a superpower with a dysfunctional Congress a kleptocract president and smile that I am going to be dead in 10 years and not have to deal with the fall out.
Franc! You’re gonna be gone in ten years?? You’re right that the problems we face require Herculean effort, coordination, and execution for even the slimmest chance at positive resolutions. Instead of Herculeses, it’s a cheese puff, some spineless Republicans, and totally ineffectual Democrats. Something something snowballs in hell. I’m in a slump this morning.
Health sucks. I've dropped 25K or so this year all said and done. I plan on fighting like the third monkey on the ramp to the ark until they can get shit pinned down and fixed. Moral to the story? Don't grow up poor, don't be homeless and don't let yourself fall into malnutrition habits.
Sounds like the Gospel of Paul (Ryan). I won't pretend to know better than you do about your situation. But there's nothing like a belief for future better health paired with an active lifestyle to lower the ol' blood pressure. In all seriousness, take lots of care.Moral to the story? Don't grow up poor, don't be homeless and don't let yourself fall into malnutrition habits.
Here's the Mexican standoff: - Employers who are "mindlessly obsessed" with college degrees - Erosion of the marketplace from steady employment to contract and gig employment - The steady annihilation of the middle workforce through consolidation and automation - The retraction of entry level positions and the rise of the permanent underclass Anybody with any sense knows the United States is a service economy (despite manufacturing more stuff than we have in our history - we're just employing far fewer people to do it). Anybody with the sense to figure that out has to understand that services have to be paid for by someone. So. Are we selling services to poor people? What's the cap on that? How 'bout services to rich people? There's a guy in my yoga class. Not much older than me. When he found out I was showing up in my 25-year-old Porsche he decided to bring his i8 (joke's on him, I was sick). It doesn't even count as one of the six BMWs he owns because he leases it. he was telling me he's put less than 5,000 miles on it in three years because gullwing cars get rain in them in seattle. who knew? I asked him about clearbras because I don't want my headlights to get cataracts. He mentioned a place that does all his work; it costs him about $6k a car. I'll try and get out of the place I found for $700 or less because holy shit. So, denizen of the service economy. Who would you rather service, him or me? If you were to focus on one type of client, which one gives you more bang for your buck? Everyone gripes about in-game purchases while also pointing out that it's that one whale in 100 who actually buys fuckin' anything ruining the experience for the rest of us. But think about it: if only one person in 100 buys fuckin' crests or whatever but the game still shoves them at us every time we log in, those fuckin' crests must be pretty goddamn lucrative. The whale matters more than 100 normies. This is how gilded ages happen. I've been having a bad fuckin' week. I may never mix again it's been so shitty. Watchmaking? Some mutherfucker spent $6m on that thing Saturday. In Monaco, of course. Which is one third what was spent on this thing two weeks ago: Why? Because Paul Newman owned it, of course. Are you filthy fucking rich? No? Are you catering to the filthy fucking rich? No? Are you in a profession favored by the filthy fucking rich? No? best grab a broom. Edited to add the proposed Republican tax plan, as analyzed by the Wall Street Journal: Under the GOP plan, the executive would pay $868,000 in taxes, according to a rough calculation by Tony Nitti, of WithumSmith + Brown, an accounting firm. The manufacturer pays $704,400, but might be able to argue her way into a lower bill. The passive business owner pays $576,000. The dividend-earning investor pays $476,000. The heir to the estate pays nothing. The manufacturer, the estate and the passive owner all get big tax cuts from the GOP plan. The investor and the wage earner generally don’t. Merit-based, mutherfucker.
Take a simplified example of $2 million, received at the relevant top rates, by five different people: a salaried executive; the owner-operator of a manufacturer; an investor receiving dividends; a passive business owner, such as one who has a stake in a real-estate property; and an heir from a large estate.
That's not a bad idea but I'd tell kids to just go get a job and go to college if they find a career that requires a degree or one where a degree would increase their earnings. In fact I do tell kids that because I hang out with a bunch of lowlifes who are trying to turn shit around. It is ridiculous that we tell a bunch of naive people who just got pubes to pick a career and spend like $100k or whatever. When I was 17 I didn't even know what jobs there were, let alone what I'd enjoy enough to do full time. I'm kinda in between generations though so this may not be the case anymore. I think a lot more kids now know that they need to research their careers instead of assuming any degree is valuable like my parents told me.
I was defaulted on my loans, despite having ample balance in my dedicated loan payment account. I believe that happened for 2 reasons: 1) the Bank wanted immediate cash payment on the federal guarantee; and 2) it would increase the default rate to bolster their argument that they were taking on high risk debt and should accordingly receive higher compensation from the government. On the last day of every month I transferred more than enough money into my student loan payment account. On the first of every month the full payment was taken out. For years. Then one day they stopped taking the money out. I made calls, I sent faxes, emails and visited the Bank several times to try to get them to take the money out. No one knew why withdrawals had stopped. I kept making my monthly payments. I eventually got a call from the Bank telling me they had made a mistake and I owed another $30 a month and I told them to fuck off as that was not what the contract said. They sent me to collections but got no where simply because I kept asking for them to give me a copy of the signed contract that said I owed the amount that they claimed. So the Bank cashed in the federal loan guarantee and the government sued me. Their documentary disclosure showed that the Bank gave the government an unsigned final loan agreement that inflated the numbers from my signed agreement, and that was the basis of their case. After two years of depositions and motions, we get to trial. Near the end, the judge calls myself and the other lawyer into his office. To the other lawyer: why are you suing based upon a fraudulent document? You have no case and are wasting the Court's time. To me: You took and spent the money on your education. I am going to rule against you and if you appeal you will win but I do not care. I agreed and said that I had my check book there but I was damned if I am going to pay the full amount after the shit the Bank put me through. The judge suggested that I pay the full loan amount and he would not make a costs award (in Canada it is a generally a loser pays system; if I lost I could have had to pay the government's legal bill). I agreed but the other lawyer wanted costs. So the judge ruled against me with no costs award. If I had to guess I would say that they were about the same so the government maybe broke even. In the hallway I had a brief chat with the lawyer and his witness and just told them to send me the bill. Never heard from them again and the judgement was never on my credit record.