Author Topic: Interesting Articles...  (Read 997524 times)

Offline 12HRS

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jun 2013
  • Posts: 4787
  • Total likes: 289
  • DansDeals.com Hat Tips 6
    • View Profile
Re: Interesting Articles...
« Reply #9915 on: March 24, 2019, 09:56:57 AM »
I would have taken that in two seconds, I don't understand how someone would be willing to take $7k but not $5k

Things you may regret saying at your sheva brachos

Offline mmgfarb

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2015
  • Posts: 7917
  • Total likes: 728
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Interesting Articles...
« Reply #9916 on: March 24, 2019, 11:26:05 AM »
They were probably discussing the logistics of splitting up and would have taken 5 if they hadn't gone up to 7.
Fair point
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline mmgfarb

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Dec 2015
  • Posts: 7917
  • Total likes: 728
  • DansDeals.com Hat Tips 4
    • View Profile
Re: Interesting Articles...
« Reply #9917 on: March 24, 2019, 11:26:17 AM »
Things you may regret saying at your sheva brachos
Lol
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline stooges44

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jan 2017
  • Posts: 5057
  • Total likes: 677
  • DansDeals.com Hat Tips 252
    • View Profile
Re: Interesting Articles...
« Reply #9918 on: March 25, 2019, 02:39:27 PM »
https://legalnewsline.com/stories/511787748-class-action-lawyer-sweet-on-white-chocolate-starbucks-clif-bars-ask-courts-to-toss-cases

Was looking for a place to find these for cheap because they are ridiculously good but also ridiculously expensive and stumbled on the above  ::)
If it's not free shipping it's not worth it.

Offline ExGingi

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Nov 2015
  • Posts: 6206
  • Total likes: 1084
  • DansDeals.com Hat Tips 7
    • View Profile
  • Location: 770
Re: Interesting Articles...
« Reply #9919 on: March 25, 2019, 02:48:02 PM »
And my points are:

1. MCAs are a financial wild west, and even with a publicly traded large player in the business, there's a lot of bad things going on. There are many smaller sales operations that will use Ondeck (interestingly their website says all over that they provide LOANS) for back-end funding the MCAs, padding it with additional fees. There's zero regulation and tons of abuse, unethical practices, and outright lies by the people marketing the "Cash Advances". Regulation, education, and crack-down are long overdue.

2. Unless someone can prove me otherwise, I would say that an overwhelming majority of MCAs are just additional (or sometimes the last) nails in the coffin of an operating business. However, as someone mentioned upthread, there's fraud on both ends. Since these transactions are underwritten solely on bank cash flows, if someone is able to defraud and misrepresent those, then the MCA company will end up losing.

3. Most people that take MCAs as a source of funding, aren't aware of the APR equivalent being charged, and if they signed a confession of judgment, they definitely didn't understand the ramifications of that. If something similar to a Truth In Lending document (despite the obvious shortcomings of those) would be required to be read out loud by the business taking the funds, I would guess that the landscape would change immensly.


As for the articles and political posturing, well I might have mentioned before that those are amongst the lowest of occupations in my mind, possibly even worse than the people selling the MCAs, so this might be another point where we agree.

And now the writers of the article have come out with a short video with a real story.



Some of the brutal comments (I would guess this is from people in the industry):
Quote
Dumb Americans who have absolutely zero personal responsibility deserve to be preyed upon. If you sign up for such loans from loansharks, you deserve what you get. Not to mention this Bush guy trying to weasal out of his obligations. With slimey borrowers like him, of course lenders are going to use tough measures

Quote
All voluntary transactions should be legal. This guy obviously knew he couldn't afford it but yet he still took the loan. He deserves to lose everything.

And then a comment that seems to be coming from some actuary:
Quote
Analysis would show that based on a credit rating a risk of loss (probability %) and possible return on investment % are determined. Further that can be analyzed are income statements, balance sheets, cash flow statements, etc and any information that may even be requested in order to secure the loan. Client meetings can be established to determine credit worthiness.

Lenders should understand the risk they take in lending and accept when they have losses from poorly made investments, despite the irresponsibility of those receiving the loan.
Mods might want to prune this entire discussion to a separate thread.
« Last Edit: March 25, 2019, 02:54:37 PM by ExGingi »
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline ExGingi

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Nov 2015
  • Posts: 6206
  • Total likes: 1084
  • DansDeals.com Hat Tips 7
    • View Profile
  • Location: 770
Re: Interesting Articles...
« Reply #9920 on: March 25, 2019, 04:10:50 PM »
https://www.theguardian.com/business/2019/mar/25/british-airways-flight-dusseldorf-lands-edinburgh--mistake

At least they are guaranteed some compensation.

Quote
As well as the bonus trip to Edinburgh, passengers should be receiving at least €250 (£215) in compensation under EU flight delay regulation 261, after landing five hours and 20 minutes behind schedule on what should have been an hour-long hop.

On my last flight back to JFK, IB had the IFE showing LHR as the destination on the flight map and data, all the way until landing in JFK.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline stooges44

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jan 2017
  • Posts: 5057
  • Total likes: 677
  • DansDeals.com Hat Tips 252
    • View Profile
If it's not free shipping it's not worth it.

Offline aygart

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: May 2008
  • Posts: 7095
  • Total likes: 1681
  • DansDeals.com Hat Tips 7
    • View Profile
    • Lower Watt Energy Brokers
  • Programs: www.lowerwatt.com
Re: Interesting Articles...
« Reply #9922 on: March 25, 2019, 04:38:16 PM »
You have the right to remain silent. Anything you say can and will be used to start a religious discussion.

Offline ExGingi

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Nov 2015
  • Posts: 6206
  • Total likes: 1084
  • DansDeals.com Hat Tips 7
    • View Profile
  • Location: 770
Re: Interesting Articles...
« Reply #9923 on: March 25, 2019, 05:02:17 PM »
And it wasn't even close to shabbos. I thought LY had the monopoly on "I'm feeling lucky" destinations.

LY has a monopoly on doing it without having to give compensation.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline ExGingi

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Nov 2015
  • Posts: 6206
  • Total likes: 1084
  • DansDeals.com Hat Tips 7
    • View Profile
  • Location: 770
Re: Interesting Articles...
« Reply #9924 on: March 25, 2019, 05:19:25 PM »
https://www.timesofisrael.com/tel-aviv-trials-zombie-traffic-lights-to-save-smartphone-users-from-themselves/

BB and JLM will adopt this very fast to protect people who constantly keep their gaze down due to שמירת העיניים.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline TimT

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Dec 2013
  • Posts: 17854
  • Total likes: 912
  • DansDeals.com Hat Tips 3
    • View Profile
Re: Interesting Articles...
« Reply #9925 on: March 26, 2019, 10:01:43 PM »

Offline Pad18

  • Dansdeals Platinum Elite + Lifetime Silver Elite
  • *****
  • Join Date: Apr 2014
  • Posts: 686
  • Total likes: 62
  • DansDeals.com Hat Tips 9
    • View Profile
  • Location: United States

Offline joey89

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Mar 2011
  • Posts: 389
  • Total likes: 64
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: New Orleans
Re: Interesting Articles...
« Reply #9927 on: March 26, 2019, 10:12:14 PM »
@DealKiller, who’s running Chicago ? What a disgrace
Hopefully the feds get him. (He sent himself the hate letter via Usps)

Offline good sam

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jun 2011
  • Posts: 2588
  • Total likes: 179
  • DansDeals.com Hat Tips 10
    • View Profile
Re: Interesting Articles...
« Reply #9928 on: March 26, 2019, 11:38:15 PM »


(He sent himself the hate letter via Usps)
Mutiple personality disorder?
If you don't care why would you comment?
HT: DMYD

Offline cmey

  • Dansdeals Gold Elite
  • ***
  • Join Date: Jan 2014
  • Posts: 181
  • Total likes: 88
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: lakewood
Re: Interesting Articles...
« Reply #9929 on: March 27, 2019, 01:39:09 AM »
Mutiple personality disorder?

If he was Jewish he would have just typed it to himself on the screen and saved himself the cost of a stamp.