Raise the debt ceiling, Yes or No?

[Mariahxxx]

Well Clinton did a good job so whatever he did worked. He had willing republicans to work with but that breed is now extinct.

 

[Jack Davenport]

Roughly ten years ago, there was a (very) limited effort to employ people of my ilk in certain government agencies, or at least to use them to review certain programs, mainly with an eye toward waste, fraud and abuse. Especially at companies or organizations with entrenched cultures, people in my profession are usually hated. You get used to being called a member of the S.S., a Nazi, Herr Fuhrer and all manner of things. And that's because protecting sacred cows is the rule of the day at places like that. And people in my profession are typically pretty agnostic when it comes to things like that. If the village needs to eat, then you kill the sacred cow, if necessary. It all comes down to where the data leads you. A friend of mine was offered a position at a government contractor that dealt with the Defense Dept. But once he learned that he would be expected to turn a blind eye to the things that they didn't want touched, despite what the data might show, he turned down the job.

No offense intended, but people tend to believe whatever makes them most comfortable. At times I'm sure that I do that too. But when it comes to making real, meaningful and realistic spending cuts (sacred cows be damned), I've just not seen evidence that either party is capable of doing what needs to be done in order to get us (truly) on the right fiscal path, while still spending on the projects that do indeed make the nation better and stronger (education reforms, infrastructure and IT spending, etc.).

First.
fuck Mariah Milano.She's not even worthy of my time anymore. She has proven she doesn't do anything but spew talking points. If she had an original thought it would kill her. Thank God I will be traveling soon and I will take the opportunity to break the freeones habit or if nothing else put the woman on ignore like mikemoran did. Well Rey if I am going to hitch my wagon to a sacred cow then at least it is going to be a constitutionally mandated one. Capiche?

 

[Rey C.]

It doesn't hurt that I have a high credit in 7 figures and have satisfied those debts. Aside from a Boeing Dreamliner, there are not many things I couldn't get approved for. I am credit obssessed much like your uncle.

I'm not sure which FICO you're referring to, but the median score for the generic one (the one that most people refer to) was between 710 and 725 last time I looked. So high 700's is good and is above the median. My uncle was at 825 last time we talked about it and I was at 810. Anything above 760 gets you a prime rate at most banks that use the FICO scoring system. I've always gotten the prime consumer lending rate, but I found it interesting that when I was looking at buying some timber land at a tax auction, my private banker at BofA pulled up an "in-file" credit report, needed to see a fairly detailed business plan and a recent tax assessment on the property. The banker from a local bank, who I've known since I was a teenager, just needed to see a fax of the tax assessment and wanted to know what I thought the timber might be worth. Then he asked how my mother was doing and said how he also missed my father, who had passed away about that time. If I was willing to make the 10% deposit at the time of purchase, he was willing to let me borrow 80% of the assessed value (not the purchase price - which was going to be substantially lower than the assessed value). He knows me and what I do (scheme, scheme and more scheming - but I make money and I always pay off my debts). The BofA banker didn't know whether I was hatched from an egg and raised by wolves and she didn't care about that sort of thing. For all she knows, I'm an orphan. And she said the max they could go was 50% of the purchase price on undeveloped land. So I mainly just use BofA for more complex transactions, especially if they involve out of state dealings. Otherwise, I deal with the local bankers, who see me as a human being... who pays his debts on time, every time.

But the BofA gal was willing to make a 100% loan on a new Jaguar XK I mentioned in a passing thought (I wasn't even serious). How stupid is that? She couldn't loan more than 50% of purchase on land that was worth twice what I'd pay for it, but she could loan 100% on a car that typically falls in value by 25% in the first year of ownership. No wonder they needed to be bailed out.

 

[Rey C.]

Well Rey if I am going to hitch my wagon to a sacred cow then at least it is going to be a constitutionally mandated one. Capiche?

Si, io capisco. Ma, uh... but, will we still be friends if I shoot your sacred cow and feed the village? Nothing personal. It's just what people like me do.

 

[Jack Davenport]

Si, io capisco. Ma, uh... but, will we still be friends if I shoot your sacred cow and feed the village? Nothing personal. It's just what people like me do.

Miss banker is hoping that she can make some backend money on the car loan and it is considered a short term deal. The timberland purchase was not.

 

[xfire]

Si, io capisco. Ma, uh... but, will we still be friends if I shoot your sacred cow and feed the village? Nothing personal. It's just what people like me do.

I'm fond of cows, particularly slow smoked brisket with potato salad, collard greens, & baked beans with pecan pie for dessert.

 

[Mariahxxx]

so because we differ in opinions, and you arent actually very open-minded AT ALL, and as well have not offered any original ideas or concepts yourself. yet you have to be harsh and vulgar and personal towards me?

How very christian of you counselor.

 

[Jack Davenport]

so because we differ in opinions, and you arent actually very open-minded AT ALL, and as well have not offered any original ideas or concepts yourself. yet you have to be harsh and vulgar and personal towards me?

How very christian of you counselor.

If you had never once SET OUT to offend at just about every level and topic of discussion, then maybe you'd have a valid gripe. Don't go playing the Rebecca of Sunnybrook Farm routine now. You have no less than 5 in your face threads going right now each specifcally targeted at people whose politics your loathe.

 

[Rey C.]

Miss banker is hoping that she can make some backend money on the car loan and it is considered a short term deal. The timberland purchase was not.

More likely, she couldn't understand the land purchase, because it included selling assets (the timber) off the land while the loan was still in place, plus it was considered a commercial loan. The term of that loan would have been five years. I was prepared to pay a funding fee, interest only, a balloon at the end of the term and as much as 25% of the proceeds from the timber sales going toward the principle. The car loan was pretty straight forward: fully amortized with no prepayment penalty - just a standard, vanilla auto loan. But it was for seven years. I was never involved in consumer banking, so I don't know what they earn from doing car loans. But I expect a (real) private banker to understand how to do more complex things. What if I'd wanted to use a mortgage I hold as collateral on this or some other loan? Would she have know how to value it? Doubtful. For a car loan, I could have talked to any loan officer at any bank (or off the internet) sitting in a cubicle. She's not a real private banker. I go to the BofA U.S. Trust office in Charlotte when I need to see someone who is more than a glorified teller. Those kids know their stuff.

 

[Mariahxxx]

what's wrong with in your face? I know you guys don't like to be asked to explain your political positions because most of them are the old "because I say so!" shit you inherited from your parents. No real explanation other than you say so. I would lOVE to read some in your face shit from your side. I enjoy having my opinions challenged and questioned because then I can maybe rethink where I'm at and why I believe what I do. You on the other hand absolutely refuse to acknowledge anything wrong with your shrinking party and instead make a toddler rebuttal with "But so and so is doing it too!"

I don't set out to offend anyone with the political threads I post. I can't say I haven't intended to offend some fuck sticks who make stupid comments though. If you are offended by a post on a porn site message board then maybe your opinions and stances are a little more fragile than you realize. Just like if I made a post that was titled "All piece of shit dead beat dads should die!" the only people offended would be dead beat dads I would presume.

Get some thicker skin counselor if you wanna have political and religious debates. You obviously enjoy the sparring sessions here, so why get your panties in a bunch about it?

 

[Jack Davenport]

what's wrong with in your face? I know you guys don't like to be asked to explain your political positions because most of them are the old "because I say so!" shit you inherited from your parents. No real explanation other than you say so. I would lOVE to read some in your face shit from your side. I enjoy having my opinions challenged and questioned because then I can maybe rethink where I'm at and why I believe what I do. You on the other hand absolutely refuse to acknowledge anything wrong with your shrinking party and instead make a toddler rebuttal with "But so and so is doing it too!"

I don't set out to offend anyone with the political threads I post. I can't say I haven't intended to offend some fuck sticks who make stupid comments though. If you are offended by a post on a porn site message board then maybe your opinions and stances are a little more fragile than you realize. Just like if I made a post that was titled "All piece of shit dead beat dads should die!" the only people offended would be dead beat dads I would presume.

Get some thicker skin counselor if you wanna have political and religious debates. You obviously enjoy the sparring sessions here, so why get your panties in a bunch about it?

lol. It's a cotdam shame you are a lesbian. I know you say you're not but my theory is that is why you left the biz. You couldn't stand men. An openly gay porn star isn't going to sell as many memberships to their websites.

 

[Jack Davenport]

More likely, she couldn't understand the land purchase, because it included selling assets (the timber) off the land while the loan was still in place, plus it was considered a commercial loan. The term of that loan would have been five years. I was prepared to pay a funding fee, interest only, a balloon at the end of the term and as much as 25% of the proceeds from the timber sales going toward the principle. The car loan was pretty straight forward: fully amortized with no prepayment penalty - just a standard, vanilla auto loan. But it was for seven years. I was never involved in consumer banking, so I don't know what they earn from doing car loans. But I expect a (real) private banker to understand how to do more complex things. What if I'd wanted to use a mortgage I hold as collateral on this or some other loan? Would she have know how to value it? Doubtful. For a car loan, I could have talked to any loan officer at any bank (or off the internet) sitting in a cubicle. She's not a real private banker. I go to the BofA U.S. Trust office in Charlotte when I need to see someone who is more than a glorified teller. Those kids know their stuff.

I actually ran into something similar when I was in my 20's. I inherited a 32 acre tract that had about 65000 dollars of timber that Weyerhauser had cruised and offered upfront in exchange for a 2 year timber deed. I was young and still had student loan debt. Good credit but not much credit. There was an adjoing tract that I wanted to purchase from a man because the tract was landlocked. Anyway the banker could not grasp the concept that I wanted to buy the land that had a resource that was valuable and only would loan tax value and not consider the 30 grand of timber that I would get upfront. Anyway I went to the owner and cut a deal with him that i would let him receive the proceeds from the timber on his land if he would convey the property to me first and hold a personal note for the additional 15000. he wanted 45000 for the land. I paid him after Weyerhauser closed . It went smoothly. Sometimes I would rather deal with a farmer that understands how to make a dollar that has horse sense than a person that only knows what they know from college.

 

[Mariahxxx]

hardly a lesbian. I left the business not because I dont like men. I dont like diseases. I dont like shooting to make someone else money. I had done it for 14 years and that was plenty. I had a teenage son and had my websites which were making enough money. I knew I could do something else that I could be proud of and make a living which I did. Shooting porn is rarely having sex. Stop and start, angles, uncomfortable positions, stupid scripts and weirdos. Hardly sex dude. Some of it was, but not much.

 

[mikexmoran]

A few thoughts that you may or may not care about.

The debt ceiling "crisis" is a sign of failed government and leadership. We shouldn't be having this discussion. It is a sign that there hasn't been much bipartisanship in Washington for some time. It is their job to work together because we put them there to work together. If you think there is a winning side to this, it amuses me.

The law should be changed. Why are we able to run up a debt, but then have to vote to raise the budget to pay for it? Kind of dangerous.

If the debt ceiling is not raise, default is an option, not an absolute. Not ever check written is to service a debt. Alternatives are ugly, but I don't accept the elected officials going on automatic pilot. If they make the decision to not raise the ceiling, they then presented with an ugly decision to make and that is if they wish to service the debt or not. They wanted the job, they don't get to pick and choose the parts of the job they want.

-Affordable Health Care. It is the law of the land. If you want it removed, change the law by voting on it without extortion. If you want to make the point that the other side did it without bipartisan support, make the point, don't commit a worse act by attempting extortion.

In my egocentric opinion, I see people debating the wrong arguments.


(I can rant about the misunderstanding of Chinese economics and my wife would want to rant about sugar addiction if anyone is having trouble sleeping.)

 

[Master Roshi]

Well Clinton did a good job so whatever he did worked. He had willing republicans to work with but that breed is now extinct.

didn't we just discuss the end of Glass Steagal and how this fool was a big part of ending that act....."Surpluses as faaaar as the eye can see" lol SMH

 

[Master Roshi]

and yes rat, i remember watching that clip but unfortunately most americans still will not get it, the banks are at the top of the mountain looking down watching it all burn but they don't care because as long as their profits keep rising that is all that matters to them, more profits = more control, this fractional reserve banking system is a science and the banks have hired the top "scientists" to meet their agendas

 

[Mariahxxx]

yes but like him or not his presidency was a success in many ways. he worked with the right to get things done and he had a good economic policy. I dont like NAFTA and I didnt like his ending Glass Steagal but all in all there was more good than bad. Elizabeth Warren wants to reinstate Glass Steagal and the right has already started flaming her about it.

 

[Master Roshi]

I don't agree that his economic policy was good, the dismantling of Glass Steagal and the enacting result of the Gramm–Leach–Bliley Act was the main cause for the crisis of 2008, not the average person being unable to pay their mortgages which is what the controlled mainstream media told the people, but we must also keep in mind that Clinton like many of the US presidents before him was merely doing what he "advisors" told him to do, Larry Summers and Robert Rubin made sure that their man was going to do what was needed in order for these crooks to be able to go out and commit their financial crimes on the backs of the people, how anyone can look at Clinton and see a good leader is beyond me and the out sourcing of manufacturing jobs in the US started before the Clinton administration but his regime did nothing to stop it, in fact they helped to speed it along with all these free trade agreements that were put into place, remember if a nation's currency is not regulated and sound then everything else will break down because in the current state of society, the root or beginning of the system is the money that is being used 24/7 in the lives of almost everyone that lives in that society

 

[Mariahxxx]

When he left office our debt was low and our budget was balanced and there was money in the bank. Even mental midget GWB acknowledged that and said "a surplus was a bad thing because it was money laying around waiting to be spent on who knows what" and then he went on to spend every penny of it.

 

[Master Roshi]

and it is good to see the Elizabeth Warren wants to reinstate it and you say the right has started flaming her but my question is why hasn't anyone else from the left called for its reinstatement, why hasn't Obama mentioned reinstating it, mind you I do not support the left or right, they are just the left and right wings of the same eagle IMO, but if these political pundits on capitol hill were serious, they would all be screaming to reinstate banking regulations that have but they won't IMO because 90 percent of them have to answer to their donators who got them into that position and who are their donators? corporations, banks and companies with money, not the average person