“The Economy” is not the Dow. It’s not the unemployment rate. For the working class, it’s this:
Shit.
Someone will propose tax-advantaged savings accounts people can use to save money to pay for cars. Any day now.
Looks like a group that will be thrilled when their refunds are decimated too.
Experts warn Americans to be careful where they get their auto loan. Traditional banks and credit unions have much smaller default rates than so-called “auto finance” companies such as the “buy here, pay here” places on some car lots.
Fewer than 1 percent of auto loans issued by credit unions are 90 days or more late compared to 6.5 percent of loans issued by auto finance companies.
Auto finance companies tend to have really high interest rates. The highest I heard about was 32% which was outrageous. I told him not to buy the car, he didn’t listen and it was taken from him eventually.
That’s insane, holy shit. I hate buying cars because I hate dealing with people that are lying to me. I negotiated for my last one online with Honda and it was still an ordeal having to go in to pick it up, finalized it, etc.
The group that winds up going to these skeezy dealerships with their outrageous high interest rates cater to the group with horrific credit… the kind of places that say no credit low credit no questions, just bring a paystub kind of place. They’d often be better off without rather than a loan that high, but to bee fair, this group is high risk to begin with. They’ve screwed up in the past.
The weird thing is, that gentleman with that 32% rate loan… it never even occurred to him not to buy that car, and like I said, he did eventually lose it. Of course if it wasn’t 32% to begin with, maybe he wouldn’t have.
It’s not limited to dealerships. It’s everything credit related. There are entire industries around how to prey on the poor.
I sold cars for awhile some years back. There was a salesman there who sold most of their used cars…most dealers have someone like that. But this guy…he was selling all those cars because he was making private loans to people that didn’t have the credit to get a proper one. No idea what the interest rate was but the whole thingy was shady as hell. I have no doubt there are lots of other people out there just like this guy that prey on the most vulnerable.
This was a Toyota dealership, not Crazy Earl’s used cars or something like that. I suspect the management knew exactly what was going on and chose to look the other way.
True although years ago they tried to slowdown the payday loan places to help with that.
I didn’t realize the new car dealerships would be involved in this.
I think the article above might just be a little misleading because it seems like the kind of loans they are talking about are the subpar loans not the people getting the 0-2.99% loan (they might be a little higher now).
When you join the family, you don’t go halfway.
I’m not following how this is a failing Trump thing.
I assume his relatives need to leave the DoJ because of anti-nepotism requirements stemming from his likely assumption of the AG post. I don’t think it’s unreasonable that the White House would offer them a position to mitigate that impact of Barr taking the job.
I wouldn’t be bothered if this happened under Obama, for example.
I’m not sure I agree (IANAL). Even if they are going to follow dad to work for the Man in Washington, then why not in the DoJ where he will be. Folding them into the Executive branch, and especially working directly on behalf of the one man who named dad to the job seems like either an opportunity for leverage, or at least conflict of interest? What happens if the AG is forced to bring legal action against the White House?
There’s almost no legal job that doesn’t have risk of conflict of interest against the Attorney General of the United States. To the extent the president is special, the attorney general is already dealing with going after his literal boss, if he is investigating/prosecuting the president. I don’t think having his family somewhere in that organization is adding all that much complexity to the case. In contrast, him being directly their boss at DoJ is more of an issue.
Which, to be frank, is his job. Not attorney for the President, but rather, the attorney for the people of the United States.
It’s not a job to make friends or further a political career, it’s a job to protect the people, all of us, of the United States.
We’ve had a lot of change recently but that point needs to be driven home. This isn’t a position of a lackey who protects the President. It is MUCH more important than that.
Well, there are all kinds of conflicts of interest. ‘Target of investigation chooses his investigator, then daughter and son-in-law of investigator join legal team of target’ seems kinda different, at least to this layman.
Trump sure sounds like a hell of a boss.
It’s a little thing in the big scheme of things, but one thing I will never forgive millions of Americans for is stroking this guy’s ego by electing him. What a prick.
+1 He is absolutely the worst humanity has to offer. And people willingly voted for this fraud.
Have we ever had a President as petty as Trump? From The Atlantic article"
After we agreed on a time to meet, the president began to talk about how upset he was that Comey had flown home on his government plane from Los Angeles—Comey had been giving a speech there when he learned he was fired. The president wanted to know how that had happened.
I told him that bureau lawyers had assured me there was no legal issue with Comey coming home on the plane. I decided that he should do so. The existing threat assessment indicated he was still at risk, so he needed a protection detail. Since the members of the protection detail would all be coming home, it made sense to bring everybody back on the same plane they had used to fly out there. It was coming back anyway. The president flew off the handle: That’s not right! I don’t approve of that! That’s wrong! He reiterated his point five or seven times.
You have an employee and you fire him on a business trip, and then you want him to pay his own way home.
I have no doubt that if he had dictatorial powers he would be jailing people and executing a few of them.