(04-05-2024, 02:43 PM)NYC4jags Wrote:

(04-04-2024, 09:04 PM)Sneakers Wrote: You're consumed by your hatred of Trump to the extent that you're unable to look at the facts objectively.  You call him a criminal, but what criminal offense has he been convicted of?  

The commonly held definition of "loan shark" is an illegal lender, charging an exorbitant rate.  Hankey's auto-finance company is legally established and operating.  It charges rates that are average for the industry, among dozens of competing firms, Lending Tree, Capital One, AmeriCredit, etc.   Are these companies also loan sharks?

The "enforcers" at these companies don't actually break legs, which is probably why they're just called collectors.  Yes, their first contact is typically a phone call when payment is delinquent.  Why is a collection call from them any different than a similar call from Bank of America or Wells Fargo?  

Was the 5% figure a number you just pulled out of the air?  In today's market commercial rates start at about 7.5%, even with an 800 FICO.  FYI Wall Street Journal prime is currently 8.5%, yet you think these people should be at 5%?  Here's a couple fun facts, 30%+ of sub-prime auto loans ultimately end up in repossession and 70% are driving without insurance.  What do you think a fair interest rate is? 

BTW, that 20% is an annual rate.  If the finance company is a single day late making it's FICA withholding payment, the IRS assesses a 10% penalty.  10% for one day...............now that's what I would say qualifies as "loan shark"!

Trump had to get the money/bond from somebody, who would you have preferred?  Would you feel better if Musk or Bezos had just written a check?

I already explained all of this. 

You can hash out the semantics of business and lending ethics all you like. I don't need to do that to understand that making money off of others' misfortune is shady. 

The guy is called a loan shark by his peers in the finance world because his business model is indeed the modern day equivalent. It is legal. It is also unethical and slimy as [BLEEP]. 

Third time I've had to hash this out in this thread. 

I'll leave you guys to your echo chamber for a while. No one wants to hear a dissenting view around here. 

It's no shock that this bothers no one, though.
25 rape allegations, 80 some odd felony charges, 12 failed businesses, hush money to porn stars, and flatly stating he wants to turn the presidency into a monarchy hasn't dissuaded his cult. 
Why would owing a loan shark hundreds of millions of dollars change your mind?

And you question MY objectivity. LOL

You explained nothing and dodged every question.  Are you that afraid of the truth?  We're happy to hear a dissenting view if you can forgo the rant and present facts.

How is Hankey a "loan shark" to his peers, when they're all doing exactly the same thing, with comparable rates?

I hate to burst the ideological bubble you're sheltering in, but everybody out there in the real world is making money off the misfortunes of others.  If your car breaks down at midnight, you're going to pay more for a tow than you would at noon.  If you can't pay the water bill, the city shuts off your service and adds a reconnection fee.  Is that shady business?  

Lots of allegations, but nothing proven in a criminal court (sounds like he could be a Clinton).  Call him a scumbag if you want and I won't disagree.  

You're hung up on money to a "porn star", would you feel better if she was an ugly unknown?

As I said earlier, he had to get the bond from someone, and indebtedness is a legitimate concern.  Who's your preference, auto, oil, IT, big banks, green energy?

PS  Where can a person with good credit get some of that 5% money you said should be available for subprime purchasers?  All the banks I know are paying more than that to borrow themselves.

---