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| Political Threads This section is for Political Threads - Enter at your own risk. If you say you don't want to see what someone posts - don't read it :hihi: |
03-20-2020, 08:32 AM
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#1
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Registered User
Join Date: Jun 2012
Location: Somerset MA
Posts: 9,124
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Quote:
Originally Posted by Jim in CT
because if a huge volume
of people spend that extra money, it helps the small businesses recover from the crushing lack of rev he thats pulverizing them now.
shortens the length of time it takes for businesses to recover lost revenue, which means less layoffs, and that’s a key thing.
The $1,000 doesn’t change anyone’s life. but it will help keep people employed as that money is spent and re spent.
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Thats my point the seagulls will swoop in on the foreclosures of the little guy who would have been saved if his mortgage payments and interest and penalties were waved , till this was over , but he got was a 1000 bucks |
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03-20-2020, 08:46 AM
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#2
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Registered User
Join Date: Jul 2008
Posts: 20,429
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Quote:
Originally Posted by wdmso
Thats my point the seagulls will swoop in on the foreclosures of the little guy who would have been saved if his mortgage payments and interest and penalties were waved , till this was over , but he got was a 1000 bucks
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i suspect, though don’t know for sure, that banks will be willing to give people who are severely impacted by this, a few months. banks don’t foreclose when you miss a payment or two, if there’s any reasonable chance you’ll get back in your feet, it’s better and cheaper for the banks to work with you. Id bet a lot that we don’t see foreclosures like we did in 2008. Giving everyone a little money does help the bartenders in the end, not because their 1,000 saves them, but because it increases the chance that things recover quicker.
there’s also a lot more to the aid than 1,000 checks to individuals. All kinds of loans and grants to small business. that will also help. minimizing unemployment is a high priority here, and helping businesses with a short term cash crunch, will keep unemployment down.
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03-20-2020, 09:46 AM
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#3
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Registered User
Join Date: Jun 2012
Location: Somerset MA
Posts: 9,124
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Quote:
Originally Posted by Jim in CT
i suspect, though don’t know for sure, that banks will be willing to give people who are severely impacted by this, a few months. banks don’t foreclose when you miss a payment or two, if there’s any reasonable chance you’ll get back in your feet, it’s better and cheaper for the banks to work with you. Id bet a lot that we don’t see foreclosures like we did in 2008. Giving everyone a little money does help the bartenders in the end, not because their 1,000 saves them, but because it increases the chance that things recover quicker.
there’s also a lot more to the aid than 1,000 checks to individuals. All kinds of loans and grants to small business. that will also help. minimizing unemployment is a high priority here, and helping businesses with a short term cash crunch, will keep unemployment down.
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I have no faith that banks will defer anything.. you get 3 months behind on a mortgage plus late fees and your credit score destroyed you'll never recover even if you get back to work |
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03-20-2020, 07:40 AM
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#4
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Registered User
Join Date: Jul 2004
Posts: 10,200
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Too bad everyone wasn't as smart as these 2. FYI Burr voted previously against a ban on insider trading. He also is Eben's 2nd cousin.
WASHINGTON (AP) — Senate Intelligence Committee Chairman Richard Burr, R-N.C., sold as much as $1.7 million in stocks just before the market dropped in February amid fears about the coronavirus epidemic.
Senate records show that Burr and his wife sold between roughly $600,000 and $1.7 million in more than 30 separate transactions in late January and mid-February, just before the market began to fall and as government health officials began to issue stark warnings about the effects of the virus. Several of the stocks were in companies that own hotels.
The stock sales were first reported by ProPublica and The Center for Responsive Politics. Most of them came on Feb. 13, just before Burr made a speech in Washington, D.C., in which he predicted severe consequences from the virus, including closed schools and cutbacks in company travel, according to audio obtained by National Public Radio and released Thursday.
Burr told the small North Carolina State Society audience that the virus was “much more aggressive in its transmission than anything that we have seen in recent history” and “probably more akin to the 1918 pandemic."
Burr’s remarks were much more dire than remarks he had made publicly, and came as President Donald Trump was still downplaying the severity of the virus.
There is no indication that Burr had any inside information as he sold the stocks and issued the private warnings. The intelligence panel did not have any briefings on the pandemic the week when most of the stocks were sold, according to a person familiar with the matter. The person declined to be identified to discuss confidential committee activity.
Burr said on Twitter Thursday that Americans were already being warned about the effects of the virus when he made the speech to the North Carolina State Society.
“The message I shared with my constituents is the one public health officials urged all of us to heed as coronavirus spread increased,” Burr wrote. “Be prepared.”
Burr sent out the tweets before reports of his stock sales. A spokesperson for the senator said in a statement that Burr “has been deeply concerned by the steep and sudden toll this pandemic is taking on our economy” and supports congressional efforts to help the economy. The spokesperson declined to be identified in order to share the senator’s thinking.
The North Carolina senator was not the only lawmaker to sell of stocks just before the steep decline due to the global pandemic. Georgia Sen. Kelly Loeffler, a new senator who is up for re-election this year, sold off hundreds of thousands of dollars worth of stock in late January, as senators began to get briefings on the virus, also according to Senate records.
In the weeks that followed, Loeffler urged her constituents to have faith in the Trump administration's efforts to prepare the nation.
“@realDonaldTrump & his administration are doing a great job working to keep Americans healthy & safe,” Loeffler tweeted Feb. 27.
The Daily Beast first reported that Loeffler dropped the stock in late January. The senator is married to Jeffrey Sprecher, the chairman and CEO of Intercontinental Exchange, which owns the New York Stock Exchange.
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03-20-2020, 07:42 AM
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#5
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Registered User
Join Date: Jun 2012
Location: Somerset MA
Posts: 9,124
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Senate Intelligence Chairman Richard Burr (R-N.C.) dumped between $582,029 and $1.56 million of his stocks on Feb. 13, days after writing a Fox News op-ed that said the U.S. is "better prepared than ever before" to face public health threats like the coronavirus, according to ProPublica.
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03-20-2020, 07:53 AM
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#6
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Registered User
Join Date: Dec 2002
Posts: 8,718
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This seems like a smart move by this man. I would guess that most here would have done the same. This is how money is managed.
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03-21-2020, 06:46 AM
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#7
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Seldom Seen
Join Date: May 2001
Posts: 10,406
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Quote:
Originally Posted by spence
Banks will likely be just as forgiving as they are legally required to be.
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I say BS! BankAmerica screwed everyone they could, including us. Sold one of our two "connected "loans we were advised to do in a re-fi, which prohibited us from doing another re-fi for over ten years! Hardly any pay down on principle over that time. Eff BankAmerica as hard as I can. AND then they want to charge you to cash a check drawn on their accounts if you don't have an account.... (many RI based banks do this in Mass. Eff them too)
Quote:
Originally Posted by Sea Dangles
Some people simply get a tip from respected sources whom they trust.
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Really, Chris??? A Senator?
Quote:
Originally Posted by Sea Dangles
This seems like a smart move by this man. I would guess that most here would have done the same. This is how money is managed.
Posted from my iPhone/Mobile device
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The best thing that could come out of all this is to equal out the gross inequity of the wealth distribution in this country.... Going to be a hell of a new tax code coming to pay for all this. I hope the heavy load hits the upper class and one percenters HARD! There is not one of the wealthy that didn't get there without #^&#^&#^&#^&ing someone and ruining the life and dreams of others. Get ready for a 70% tax rate and hyper inflation. |
“Americans have the right and advantage of being armed, unlike the people of other countries, whose leaders are afraid to trust them with arms.” – James Madison.
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03-21-2020, 07:11 AM
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#8
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Registered User
Join Date: Jul 2008
Posts: 20,429
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Quote:
Originally Posted by nightfighter
There is not one of the wealthy that didn't get there without #^&#^&#^&#^&ing someone and ruining the life and dreams of others..
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demonstrably false. come on.
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03-21-2020, 07:30 AM
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#9
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Ledge Runner Baits
Join Date: Oct 2000
Location: I live in a house, but my soul is at sea.
Posts: 8,396
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Ross that’s to real and to reasonable for this group, I agree with your post and those senators profiting on non public information is basically inside trading. They really need to make stock trading for senators and congressman illegal, as they are constantly getting non public intel that can and does impact the market.
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03-21-2020, 07:39 AM
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#10
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Seldom Seen
Join Date: May 2001
Posts: 10,406
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Quote:
Originally Posted by Jim in CT
demonstrably false. come on.
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Jim, I started with Merrill Lynch in 1980 and was in the business through 1999. I can categorically state that those that got ahead got there at the expense of others. As did the clients they served and skimmed off of. I was there. Saw it. Old boy network became musical chairs. Survival at all costs. Saw it. Lived it. I was a victim. I was expensed so that another could get himself ahead. Got my legs cut out at my weakest point during a divorce and could not recover. I am not that guy that could live that life and sleep at night anyway  |
“Americans have the right and advantage of being armed, unlike the people of other countries, whose leaders are afraid to trust them with arms.” – James Madison.
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03-21-2020, 07:51 AM
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#11
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Registered User
Join Date: Jul 2008
Posts: 20,429
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Quote:
Originally Posted by nightfighter
Jim, I started with Merrill Lynch in 1980 and was in the business through 1999. I can categorically state that those that got ahead got there at the expense of others. As did the clients they served and skimmed off of. I was there. Saw it. Old boy network became musical chairs. Survival at all costs. Saw it. Lived it. I was a victim. I was expensed so that another could get himself ahead. Got my legs cut out at my weakest point during a divorce and could not recover. I am not that guy that could live that life and sleep at night anyway |
i didn’t say that zero rich people
got rich by hurting others. of course there are scumbags out there, i never said otherwise.
You said every rich person got there by hurting others. that’s laughably false. Plenty of wealthy people are decent people. Not all. But more than zero, a lot
more.
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03-21-2020, 08:03 AM
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#12
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Registered User
Join Date: Jul 2008
Posts: 20,429
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Quote:
Originally Posted by nightfighter
Jim, I started with Merrill Lynch in 1980 and was in the business through 1999. I can categorically state that those that got ahead got there at the expense of others. As did the clients they served and skimmed off of. I was there. Saw it. Old boy network became musical chairs. Survival at all costs. Saw it. Lived it. I was a victim. I was expensed so that another could get himself ahead. Got my legs cut out at my weakest point during a divorce and could not recover. I am not that guy that could live that life and sleep at night anyway |
i am sorry that happened and i sure couldn’t do it either.
Posted from my iPhone/Mobile device |
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03-21-2020, 08:05 AM
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#13
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Registered User
Join Date: Dec 2002
Posts: 8,718
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Quote:
Originally Posted by nightfighter
I say BS! BankAmerica screwed everyone they could, including us. Sold one of our two "connected "loans we were advised to do in a re-fi, which prohibited us from doing another re-fi for over ten years! Hardly any pay down on principle over that time. Eff BankAmerica as hard as I can. AND then they want to charge you to cash a check drawn on their accounts if you don't have an account.... (many RI based banks do this in Mass. Eff them too)
Really, Chris??? A Senator?
The best thing that could come out of all this is to equal out the gross inequity of the wealth distribution in this country.... Going to be a hell of a new tax code coming to pay for all this. I hope the heavy load hits the upper class and one percenters HARD! There is not one of the wealthy that didn't get there without #^&#^&#^&#^&ing someone and ruining the life and dreams of others. Get ready for a 70% tax rate and hyper inflation.
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Ross, you didn’t have to be Kreskin to see this scourge was coming. Being proactive with the market is the first response for some.
Posted from my iPhone/Mobile device |
PRO CHOICE REPUBLICAN
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03-21-2020, 08:13 AM
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#14
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Seldom Seen
Join Date: May 2001
Posts: 10,406
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Quote:
Originally Posted by Sea Dangles
Ross, you didn’t have to be Kreskin to see this scourge was coming. Being proactive with the market is the first response for some.
Posted from my iPhone/Mobile device
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Draining the swamp? How many in Congress will not survive this I wonder.... |
“Americans have the right and advantage of being armed, unlike the people of other countries, whose leaders are afraid to trust them with arms.” – James Madison.
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03-21-2020, 08:16 AM
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#15
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Registered User
Join Date: Nov 2007
Posts: 12,632
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Quote:
Originally Posted by nightfighter
Draining the swamp? How many in Congress will not survive this I wonder....
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hopefully lots from both sides of the aisle...I like turnover in Washington....speaking of which...I heard biden is going to try playing president and give daily press briefing on what he would be doing if he was president...this should be wildly entertaining... |
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03-22-2020, 07:59 PM
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#16
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Registered User
Join Date: Sep 2003
Location: Libtardia
Posts: 21,559
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Quote:
Originally Posted by nightfighter
Draining the swamp? How many in Congress will not survive this I wonder....
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Bring back the guillotine. Seriously.
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03-20-2020, 07:55 AM
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#17
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Registered User
Join Date: Jul 2004
Posts: 10,200
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Three other senators also sold major holdings around the time Mr. Burr did, according to the disclosure records: Dianne Feinstein, Democrat of California, who is also a member of the Intelligence Committee; James M. Inhofe, Republican of Oklahoma; and Kelly Loeffler, Republican of Georgia.
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03-20-2020, 08:51 AM
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#18
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Registered User
Join Date: Jul 2008
Posts: 20,429
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i think senators who used non-public information to dump their portfolios, have some serious explaining to do.
If they relied on non public information...
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03-20-2020, 09:48 AM
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#19
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Registered User
Join Date: Jun 2012
Location: Somerset MA
Posts: 9,124
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Quote:
Originally Posted by Jim in CT
i think senators who used non-public information to dump their portfolios, have some serious explaining to do.
If they relied on non public information...
Posted from my iPhone/Mobile device
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of course they did ,,, but how does anyone prove it ..
if it walks like a duck its a duck ... |
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03-20-2020, 09:58 AM
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#20
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Canceled
Join Date: Jun 2003
Location: vt
Posts: 13,069
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This is the 1-month anniversary of the S&P record high.
Quite a month, eh?
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Frasier: Niles, I’ve just had the most marvelous idea for a website! People will post their opinions, cheeky bon mots, and insights, and others will reply in kind!
Niles: You have met “people”, haven’t you?
Lets Go Darwin
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03-20-2020, 10:02 AM
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#21
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Registered User
Join Date: Dec 2002
Posts: 8,718
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Quote:
Originally Posted by wdmso
of course they did ,,, but how does anyone prove it ..
if it walks like a duck its a duck ...
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Some people simply get a tip from respected sources whom they trust.
Posted from my iPhone/Mobile device |
PRO CHOICE REPUBLICAN
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03-21-2020, 07:34 AM
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#22
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Registered User
Join Date: Jun 2012
Location: Somerset MA
Posts: 9,124
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United Airlines Threatens To Cut Jobs If Coronavirus Aid Package Isn't Passed
Like I said a 1000 or 1200 check wont do #^&#^&#^&#^&. Suspend all mortgage car credit card payments and interest and fees for 90days. Anything else is window dressing
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03-21-2020, 07:36 AM
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#23
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Registered User
Join Date: Jul 2008
Posts: 20,429
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the female senator from GA swears up and down that she turned over control of her account to financial advisors who make trades without telling her until after. Sounds good.
But if it’s true, she had the best stock pickers in the world. Her advisors dumped almost everything she owned - airlines, energy, retail. The only stick they bought was Citrix, a company which makes software so people
can work from home. That’s a hell of a stock picker, boy.
Burr and Feinstein need to go. Bye bye.
Posted from my iPhone/Mobile device
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03-21-2020, 07:38 AM
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#24
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Also known as OAK
Join Date: Apr 2003
Location: Westlery, RI
Posts: 10,349
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Quote:
Originally Posted by Jim in CT
the female senator from GA swears up and down that she turned over control of her account to financial advisors who make trades without telling her until after. Sounds good.
But if it’s true, she had the best stock pickers in the world. Her advisors dumped almost everything she owned - airlines, energy, retail. The only stick they bought was Citrix, a company which makes software so people
can work from home. That’s a hell of a stock picker, boy.
Burr and Feinstein need to go. Bye bye.
Posted from my iPhone/Mobile device
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Who is that senators husband again....... ?
Posted from my iPhone/Mobile device |
Bryan
Originally Posted by #^&#^&#^&#^&#^&#^&#^&#^&#^&#^&#^&
"For once I agree with Spence. UGH. I just hope I don't get the urge to go start buying armani suits to wear in my shop"
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03-21-2020, 07:41 AM
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#25
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Registered User
Join Date: Nov 2007
Posts: 12,632
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Quote:
Originally Posted by RIROCKHOUND
Who is that senators husband again....... ?
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probably a biden relative  |
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03-21-2020, 07:49 AM
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#26
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Registered User
Join Date: Jul 2008
Posts: 20,429
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Quote:
Originally Posted by RIROCKHOUND
Who is that senators husband again....... ?
Posted from my iPhone/Mobile device
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did i read he’s the president of the NYSE?
her story is a good story on paper, and probably what elected officials
should be doing. But the trades seem too perfect.
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03-21-2020, 07:52 AM
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#27
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Registered User
Join Date: Nov 2007
Posts: 12,632
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Quote:
Originally Posted by Jim in CT
did i read he’s the president of the NYSE?
her story is a good story on paper, and probably what elected officials
should be doing. But the trades seem too perfect.
Posted from my iPhone/Mobile device
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it's been a problem for a long time...members of congress should not get away with it...they and their family members and connections are all profiteering on their "public service"...oh, except bernie  |
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03-21-2020, 08:00 AM
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#28
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Registered User
Join Date: Jul 2008
Posts: 20,429
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Quote:
Originally Posted by scottw
it's been a problem for a long time...members of congress should not get away with it...they and their family members and connections are all profiteering on their "public service"...oh, except bernie |
thats true. but these jerks dumped their stocks, and at the same
time, are giving speeches about how strong the economy is. They’re acting like the executives at Enron. it’s really, really dirty.
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03-21-2020, 08:01 AM
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#29
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Seldom Seen
Join Date: May 2001
Posts: 10,406
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12 pack of Charmin $19.99 at CVS this morning. One per customer. More corporate profiteering off the public at the worst of times.
Ben Dover..... calling Ben Dover.
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“Americans have the right and advantage of being armed, unlike the people of other countries, whose leaders are afraid to trust them with arms.” – James Madison.
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