Well, part of the problem is they, like everyone else, do fun things like buy up mortgages. So sometimes you don't get a choice, it's just SURPRISE! Your mortgage is now held by Wells Fargo!
This should really be illegal.
I still wanna know how valuable I am as a source of non dischargable debt. There's no way that in a financial crisis, where a bunch of sub prime debt was exploding and going into non payment or being discharged in bankruptcy, that absolutely guaranteed to be paid off debt like student loans wasn't like fuckin gold.
I know I've gotten sold at least 2 to 3 times in the past decade.
Chances are your debt has been chopped up into tranches, so fractions of you have probably been sold a few more times than that.
So like, that's a new dynamic to me, didnt even realize they chopped up debt to spread the value around like that. It makes perfect sense, but seriously how fuckin much did student loans prop up the debt industry during the recession? Has anyone even investigated that?
Not a whole lot? It was sometime after 2010 when the recovery was winding down on the top end that the greedy went looking for a new teat to suck on. And here they found all these 5 to 10% student loans all aging along nicely with many, many years ahead of them. And the deferrals. All the deferrals you could want as long as you were okay with the rates getting ratcheted up ever so slowly.
All opinions are my own and in no way reflect that of my employer.
Well, part of the problem is they, like everyone else, do fun things like buy up mortgages. So sometimes you don't get a choice, it's just SURPRISE! Your mortgage is now held by Wells Fargo!
This should really be illegal.
I still wanna know how valuable I am as a source of non dischargable debt. There's no way that in a financial crisis, where a bunch of sub prime debt was exploding and going into non payment or being discharged in bankruptcy, that absolutely guaranteed to be paid off debt like student loans wasn't like fuckin gold.
I know I've gotten sold at least 2 to 3 times in the past decade.
The one time I think Betsy DeVos had a point was when she was talking about the problem of student loan debt. Basically, she said that the government has this debt, whose size has reached a significant portion of the nation's annual revenue, on the balance sheet and is making policy like it is real and ultimately collectible. But the reality is that is a fiction.
Federal student aid accounts for close to $1.5 trillion in outstanding loans, or one-third of the federal government's entire balance sheet, she noted.
"Only through government accounting is this student loan portfolio counted as anything but an asset embedded with significant risk," DeVos said. "In the commercial world, no bank regulator would allow this portfolio to be valued at full face value."
Digging into the numbers further, she painted a bleak picture: Only 24 percent of federal aid borrowers are currently paying down both principal and interest, she stressed, close to 20 percent of all loans are delinquent or in default.
The changes under Obama just brought Federal student loan servicing in house to the Department of Education. Before then the Federal Government insured the debt, but private companies made all the profit on administering them. Which...they didn't even bother to do that well. It was literally just giving them free money. So, that complaint doesn't make any sense.
Well, part of the problem is they, like everyone else, do fun things like buy up mortgages. So sometimes you don't get a choice, it's just SURPRISE! Your mortgage is now held by Wells Fargo!
This should really be illegal.
I still wanna know how valuable I am as a source of non dischargable debt. There's no way that in a financial crisis, where a bunch of sub prime debt was exploding and going into non payment or being discharged in bankruptcy, that absolutely guaranteed to be paid off debt like student loans wasn't like fuckin gold.
I know I've gotten sold at least 2 to 3 times in the past decade.
The one time I think Betsy DeVos had a point was when she was talking about the problem of student loan debt. Basically, she said that the government has this debt, whose size has reached a significant portion of the nation's annual revenue, on the balance sheet and is making policy like it is real and ultimately collectible. But the reality is that is a fiction.
Federal student aid accounts for close to $1.5 trillion in outstanding loans, or one-third of the federal government's entire balance sheet, she noted.
"Only through government accounting is this student loan portfolio counted as anything but an asset embedded with significant risk," DeVos said. "In the commercial world, no bank regulator would allow this portfolio to be valued at full face value."
Digging into the numbers further, she painted a bleak picture: Only 24 percent of federal aid borrowers are currently paying down both principal and interest, she stressed, close to 20 percent of all loans are delinquent or in default.
The changes under Obama just brought Federal student loan servicing in house to the Department of Education. Before then the Federal Government insured the debt, but private companies made all the profit on administering them. Which...they didn't even bother to do that well. It was literally just giving them free money. So, that complaint doesn't make any sense.
It did the opposite, actually. Obama was the one who instituted the policy that distributed the debt to private agencies in the first place.
I know this because I went from a seamless experience paying the Dept. of Ed. each month to a hilarious series of clusterfucks involving multiple lenders (who changed without notice thanks to bureaucratic communication snafus on their side). I was extremely pissed at the time.
The Obama Administration only started to bring some (not all) loans back in-house after the repeated fiascos hit the media. It was not his finest hour.
Basically, Betsy DeVos's idea to fix the student loan crisis is "less people go to college." And considering the people most likely to default on student loans (poor minorities) that results in "less poor people and minorities go to college." Like in the old days. Perfect, as Republicans consider it.
the atlantic also published an article about the irs and how incredibly stupid it is that we don't fund them more.
It will be years before we know whether tax cheating has in fact increased. The last IRS report to assess what it calls the “tax gap,” issued in 2016, analyzed the period from 2008 to 2010. It found that taxpayers had paid about 82 percent of the taxes they truly owed. If the rate of compliance in 2017 was the same, that would translate to $667 billion in missing taxes.
It's not stupid at all. It's deliberate. Look at the tax-dodger-in-chief. Republicans want the IRS funded just enough to make us commoners pay our taxes, but not so well that they have resources to go after people who can afford fancy accountants and complicated tax-dodge schemes.
the atlantic also published an article about the irs and how incredibly stupid it is that we don't fund them more.
It will be years before we know whether tax cheating has in fact increased. The last IRS report to assess what it calls the “tax gap,” issued in 2016, analyzed the period from 2008 to 2010. It found that taxpayers had paid about 82 percent of the taxes they truly owed. If the rate of compliance in 2017 was the same, that would translate to $667 billion in missing taxes.
It's not stupid at all. It's deliberate. Look at the tax-dodger-in-chief. Republicans want the IRS funded just enough to make us commoners pay our taxes, but not so well that they have resources to go after people who can afford fancy accountants and complicated tax-dodge schemes.
For a long period, the majority of IRS audits were focused on people who qualified for the Earned Income Tax Credit - i.e. working families with children who make below $37,870 to $51,567 (depending on location). That's a pretty revealing picture of our government's priorities.
the atlantic also published an article about the irs and how incredibly stupid it is that we don't fund them more.
It will be years before we know whether tax cheating has in fact increased. The last IRS report to assess what it calls the “tax gap,” issued in 2016, analyzed the period from 2008 to 2010. It found that taxpayers had paid about 82 percent of the taxes they truly owed. If the rate of compliance in 2017 was the same, that would translate to $667 billion in missing taxes.
It's not stupid at all. It's deliberate. Look at the tax-dodger-in-chief. Republicans want the IRS funded just enough to make us commoners pay our taxes, but not so well that they have resources to go after people who can afford fancy accountants and complicated tax-dodge schemes.
For a long period, the majority of IRS audits were focused on people who qualified for the Earned Income Tax Credit - i.e. working families with children who make below $37,870 to $51,567 (depending on location). That's a pretty revealing picture of our government's priorities.
It's a whole heck of a lot easier to prove that the Smith family are claiming for 4 children when 2 of them actually live full time with their father's ex than it is to follow a crazy trail through Cyprus, the Cayman Islands and Russia to prove that billionaire Jones owes taxes despite his record losses on paper.
the atlantic also published an article about the irs and how incredibly stupid it is that we don't fund them more.
It will be years before we know whether tax cheating has in fact increased. The last IRS report to assess what it calls the “tax gap,” issued in 2016, analyzed the period from 2008 to 2010. It found that taxpayers had paid about 82 percent of the taxes they truly owed. If the rate of compliance in 2017 was the same, that would translate to $667 billion in missing taxes.
It's not stupid at all. It's deliberate. Look at the tax-dodger-in-chief. Republicans want the IRS funded just enough to make us commoners pay our taxes, but not so well that they have resources to go after people who can afford fancy accountants and complicated tax-dodge schemes.
For a long period, the majority of IRS audits were focused on people who qualified for the Earned Income Tax Credit - i.e. working families with children who make below $37,870 to $51,567 (depending on location). That's a pretty revealing picture of our government's priorities.
It's a whole heck of a lot easier to prove that the Smith family are claiming for 4 children when 2 of them actually live full time with their father's ex than it is to follow a crazy trail through Cyprus, the Cayman Islands and Russia to prove that billionaire Jones owes taxes despite his record losses on paper.
That's especially true when the billionaires keep hiring away top IRS, SEC, and other federal enforcers to help them break the law better.
the atlantic also published an article about the irs and how incredibly stupid it is that we don't fund them more.
It will be years before we know whether tax cheating has in fact increased. The last IRS report to assess what it calls the “tax gap,” issued in 2016, analyzed the period from 2008 to 2010. It found that taxpayers had paid about 82 percent of the taxes they truly owed. If the rate of compliance in 2017 was the same, that would translate to $667 billion in missing taxes.
It's not stupid at all. It's deliberate. Look at the tax-dodger-in-chief. Republicans want the IRS funded just enough to make us commoners pay our taxes, but not so well that they have resources to go after people who can afford fancy accountants and complicated tax-dodge schemes.
For a long period, the majority of IRS audits were focused on people who qualified for the Earned Income Tax Credit - i.e. working families with children who make below $37,870 to $51,567 (depending on location). That's a pretty revealing picture of our government's priorities.
It's a whole heck of a lot easier to prove that the Smith family are claiming for 4 children when 2 of them actually live full time with their father's ex than it is to follow a crazy trail through Cyprus, the Cayman Islands and Russia to prove that billionaire Jones owes taxes despite his record losses on paper.
yes, but one actually makes the government money and the other just makes some peoples lives a little more (justifiably) shitty.
Well, part of the problem is they, like everyone else, do fun things like buy up mortgages. So sometimes you don't get a choice, it's just SURPRISE! Your mortgage is now held by Wells Fargo!
*raises hand*
Went with a newer startup for my refinance specifically because they only worked with 3 banks which have high ratings for customer satisfaction, etc. Mortgage was sold to Wells Fargo within a month.
Wells is buying the servicing rights, not the principle balance. The loan itself is most likely held by a GSE (Freddie/Fannie/FDA/hud/va/usda/etc) or group of private investors.
Wells is paid a regular fee by this secondary market of investors for collecting and allocating your payment and offering a call center to you. These mortgage servicing rights (MSRs) are more attractive right now because with rates going up, refinances are way down, thus ensuring more months of payments that Wells collects from you on behalf of their real customer, the secondary investment market. Wells is apparently in a buying spree with them...
Nelnet services my federal student loan debt, American Education Services services the rest of my student debt, but it used to be ACS...
and i just found out why my servicer was probably changed a couple of times in the last two years... apparently ACS was lying to borrowers about being able to apply for income based repayment... that's a thing i asked em about when my monthly payments to them were more than my monthly take home pay, and they told me it was absolutely not an option, and that my only option was a program that was basically just extortion (it basically ended up as "pay us thousands of dollars just to not garnish your wages while you don't pay down your loan for a year then you still pay us back all the money you owe within the original timeline so your payment will be even higher")... wonder if they were just outright lying to me about my options there...I cannot describe my rage at finding this out today.
the atlantic also published an article about the irs and how incredibly stupid it is that we don't fund them more.
It will be years before we know whether tax cheating has in fact increased. The last IRS report to assess what it calls the “tax gap,” issued in 2016, analyzed the period from 2008 to 2010. It found that taxpayers had paid about 82 percent of the taxes they truly owed. If the rate of compliance in 2017 was the same, that would translate to $667 billion in missing taxes.
It's not stupid at all. It's deliberate. Look at the tax-dodger-in-chief. Republicans want the IRS funded just enough to make us commoners pay our taxes, but not so well that they have resources to go after people who can afford fancy accountants and complicated tax-dodge schemes.
For a long period, the majority of IRS audits were focused on people who qualified for the Earned Income Tax Credit - i.e. working families with children who make below $37,870 to $51,567 (depending on location). That's a pretty revealing picture of our government's priorities.
It's a whole heck of a lot easier to prove that the Smith family are claiming for 4 children when 2 of them actually live full time with their father's ex than it is to follow a crazy trail through Cyprus, the Cayman Islands and Russia to prove that billionaire Jones owes taxes despite his record losses on paper.
The focus on potential EITC fraud is at the direction of Republicans in Congress.
Wells is buying the servicing rights, not the principle balance. The loan itself is most likely held by a GSE (Freddie/Fannie/FDA/hud/va/usda/etc) or group of private investors.
Wells is paid a regular fee by this secondary market of investors for collecting and allocating your payment and offering a call center to you. These mortgage servicing rights (MSRs) are more attractive right now because with rates going up, refinances are way down, thus ensuring more months of payments that Wells collects from you on behalf of their real customer, the secondary investment market. Wells is apparently in a buying spree with them...
Probably because they’re charging twice the rate everyone else is. Easy to make a profit when you gouge in low information markets
I would feel euphoric if the goverment gave incentives for auditing the 1% even if they went to contractors (and I despise government contractors) . As in, when a tax collector audits a member of the 1% and finds unclaimed income or discovers previously unknown backtaxes the auditor should receive a percentage of those taxes.
Tax collectors have been attempted to be privatized for literally millennia and it isn't the rich who suffer.
The concept of delegating essential government functions, like stuff with vested legal authority, is really unsettling. Private prisons are just the tip of the spear there.
Tax collectors have been attempted to be privatized for literally millennia and it isn't the rich who suffer.
The concept of delegating essential government functions, like stuff with vested legal authority, is really unsettling. Private prisons are just the tip of the spear there.
Tax collectors were private for much of history. The project of the modern state was centralizing those functions that had been farmed out to private entities into the state bureaucracy, because those private entities had proven themselves to be wholly corrupt and inefficient.
The project of privatization is a project of feudalization.
Edit: To put it poetically: For some reason, people believe that the greed of the corporate ceo and board of directors is more noble than the greed of the feudal lord and his knights.
Jephery on
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"Orkses never lose a battle. If we win we win, if we die we die fightin so it don't count. If we runs for it we don't die neither, cos we can come back for annuver go, see!".
Tax collectors have been attempted to be privatized for literally millennia and it isn't the rich who suffer.
The concept of delegating essential government functions, like stuff with vested legal authority, is really unsettling. Private prisons are just the tip of the spear there.
Taxation has been privatised in the past. E.g., in Roman times, tax collectors paid the government up front (the prospective tax collector who offered the most up-front cash got the contract) and then kept all taxes collected for himself. His profit was the difference between that collected and that paid to the government up front. (This practice is known as "tax farming"; in fact, this is what "farming" originally meant.)
Unsurprisingly, this ended up a de facto protection racket, and the poor got screwed and the rich didn't have to pay anything.
It would seem to me that the obvious loophole is obvious: you pay the tax collector whatever they want for a zero-effort job, and then you CHEAT EVEN HARDER.
Sure, yeah, as a tax collector, I could work hard to get more money... ooorrrr I can just take whatever a whole bunch of people are willing to pay me to look the other way and just spend my days playing video games.
Wells is buying the servicing rights, not the principle balance. The loan itself is most likely held by a GSE (Freddie/Fannie/FDA/hud/va/usda/etc) or group of private investors.
Wells is paid a regular fee by this secondary market of investors for collecting and allocating your payment and offering a call center to you. These mortgage servicing rights (MSRs) are more attractive right now because with rates going up, refinances are way down, thus ensuring more months of payments that Wells collects from you on behalf of their real customer, the secondary investment market. Wells is apparently in a buying spree with them...
Probably because they’re charging twice the rate everyone else is. Easy to make a profit when you gouge in low information markets
I’m not following...the rate is set by the lender, based on lining up investors willing to buy the loan at a certain rate. The rate isn’t impacted by any MSR transactions after the loan is originated...
Frankly I don’t trust them to not break the system. Theoretically they should not be able to modify the MSR rate when purchasing the contract. But there should not be a reason they would be an outsized purchaser otherwise
Frankly I don’t trust them to not break the system. Theoretically they should not be able to modify the MSR rate when purchasing the contract. But there should not be a reason they would be an outsized purchaser otherwise
That article is about fees for debit cards, checking accounts, etc. Not student loans.
While racing light mechs, your Urbanmech comes in second place, but only because it ran out of ammo.
Tax collectors have been attempted to be privatized for literally millennia and it isn't the rich who suffer.
The concept of delegating essential government functions, like stuff with vested legal authority, is really unsettling. Private prisons are just the tip of the spear there.
Taxation has been privatised in the past. E.g., in Roman times, tax collectors paid the government up front (the prospective tax collector who offered the most up-front cash got the contract) and then kept all taxes collected for himself. His profit was the difference between that collected and that paid to the government up front. (This practice is known as "tax farming"; in fact, this is what "farming" originally meant.)
Unsurprisingly, this ended up a de facto protection racket, and the poor got screwed and the rich didn't have to pay anything.
This is why “tax collector” is used in roughly the same sense as “serial killer” in the New Testament.
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
Viskod on
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daveNYCWhy universe hate Waspinator?Registered Userregular
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Shut up, Mr. Burton! You were not brought upon this world to get it!
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
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daveNYCWhy universe hate Waspinator?Registered Userregular
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
Shut up, Mr. Burton! You were not brought upon this world to get it!
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
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silence1186Character shields down!As a wingmanRegistered Userregular
I don't understand why you'd grant bail to someone who's going to be extradited. Of course they're going to run away to a non-extradition country then.
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daveNYCWhy universe hate Waspinator?Registered Userregular
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
Shut up, Mr. Burton! You were not brought upon this world to get it!
I don't understand why you'd grant bail to someone who's going to be extradited. Of course they're going to run away to a non-extradition country then.
She’s wearing an ankle monitor and under 24/7 direct supervision. I’m not saying it’s impossible that she could but it seems unlikely.
Edit: It’s also not a given that she’s being extradited. That’s what her future day in court is for.
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
If you read around a bit, the Chinese Canadian community are deeply unhappy about what they see as Canada inserting itself in a U.S./China trade dispute. A lot of the more prominent members of the community also conduct business between the two nations and aren't too happy about having to work in an environment where they could be arrested due to American political pressure, especially when the Americans are more and more willing to leverage traditionally non-political systems for political gain.
White House officials were literally bragging about how they planned to use her arrest as leverage in the tariff negotiations. Beyond what she is and is not guilty of, can you see how that is a major cause of alarm for the Chinese Canadian business community?
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
If you read around a bit, the Chinese Canadian community are deeply unhappy about what they see as Canada inserting itself in a U.S./China trade dispute. A lot of the more prominent members of the community also conduct business between the two nations and aren't too happy about having to work in an environment where they could be arrested due to American political pressure, especially when the Americans are more and more willing to leverage traditionally non-political systems for political gain.
White House officials were literally bragging about how they planned to use her arrest as leverage in the tariff negotiations. Beyond what she is and is not guilty of, can you see how that is a major cause of alarm for the Chinese Canadian business community?
Not in any way that would explain paying her bail, no.
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daveNYCWhy universe hate Waspinator?Registered Userregular
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
If you read around a bit, the Chinese Canadian community are deeply unhappy about what they see as Canada inserting itself in a U.S./China trade dispute. A lot of the more prominent members of the community also conduct business between the two nations and aren't too happy about having to work in an environment where they could be arrested due to American political pressure, especially when the Americans are more and more willing to leverage traditionally non-political systems for political gain.
White House officials were literally bragging about how they planned to use her arrest as leverage in the tariff negotiations. Beyond what she is and is not guilty of, can you see how that is a major cause of alarm for the Chinese Canadian business community?
I absolutely see why they're unhappy. I'm just not sure why she's not able to cover bail herself.
Shut up, Mr. Burton! You were not brought upon this world to get it!
The actual news is that part of the deal that Amazon got is that public records requests are submitted to Amazon first so they can hide the dirt beforehand:
The actual news is that part of the deal that Amazon got is that public records requests are submitted to Amazon first so they can hide the dirt beforehand:
Isn't giving that kind of favor to a single corporation like a quintessential example of corruption in favor of a single company?
Edit: Like this can't even be considered just general corporate bootlicking. The business friendly act would be to do it for all the companies and not just one.
Well, now we can move on from figuratively talking about Republicans holding things hostage and literally talk about Trump Administration holding a person hostage. Because hey, maybe we can use this hostage for new dumb trade policy.
U.S. President Donald Trump said on Tuesday he would intervene with the U.S. Justice Department in the case against a Chinese telecommunications executive if it would help secure a trade deal with Beijing.
“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made — which is a very important thing — what’s good for national security — I would certainly intervene if I thought it was necessary,” Trump said in a wide-ranging interview with Reuters in the Oval Office.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
If you read around a bit, the Chinese Canadian community are deeply unhappy about what they see as Canada inserting itself in a U.S./China trade dispute. A lot of the more prominent members of the community also conduct business between the two nations and aren't too happy about having to work in an environment where they could be arrested due to American political pressure, especially when the Americans are more and more willing to leverage traditionally non-political systems for political gain.
White House officials were literally bragging about how they planned to use her arrest as leverage in the tariff negotiations. Beyond what she is and is not guilty of, can you see how that is a major cause of alarm for the Chinese Canadian business community?
I absolutely see why they're unhappy. I'm just not sure why she's not able to cover bail herself.
She probably can, but if the rubes give you(or China 'encourages' them to give you) $10 million bucks, you don't look that gift horse in the mouth
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Not a whole lot? It was sometime after 2010 when the recovery was winding down on the top end that the greedy went looking for a new teat to suck on. And here they found all these 5 to 10% student loans all aging along nicely with many, many years ahead of them. And the deferrals. All the deferrals you could want as long as you were okay with the rates getting ratcheted up ever so slowly.
It did the opposite, actually. Obama was the one who instituted the policy that distributed the debt to private agencies in the first place.
I know this because I went from a seamless experience paying the Dept. of Ed. each month to a hilarious series of clusterfucks involving multiple lenders (who changed without notice thanks to bureaucratic communication snafus on their side). I was extremely pissed at the time.
The Obama Administration only started to bring some (not all) loans back in-house after the repeated fiascos hit the media. It was not his finest hour.
It's not stupid at all. It's deliberate. Look at the tax-dodger-in-chief. Republicans want the IRS funded just enough to make us commoners pay our taxes, but not so well that they have resources to go after people who can afford fancy accountants and complicated tax-dodge schemes.
For a long period, the majority of IRS audits were focused on people who qualified for the Earned Income Tax Credit - i.e. working families with children who make below $37,870 to $51,567 (depending on location). That's a pretty revealing picture of our government's priorities.
It's a whole heck of a lot easier to prove that the Smith family are claiming for 4 children when 2 of them actually live full time with their father's ex than it is to follow a crazy trail through Cyprus, the Cayman Islands and Russia to prove that billionaire Jones owes taxes despite his record losses on paper.
That's especially true when the billionaires keep hiring away top IRS, SEC, and other federal enforcers to help them break the law better.
yes, but one actually makes the government money and the other just makes some peoples lives a little more (justifiably) shitty.
*raises hand*
Went with a newer startup for my refinance specifically because they only worked with 3 banks which have high ratings for customer satisfaction, etc. Mortgage was sold to Wells Fargo within a month.
Wells is paid a regular fee by this secondary market of investors for collecting and allocating your payment and offering a call center to you. These mortgage servicing rights (MSRs) are more attractive right now because with rates going up, refinances are way down, thus ensuring more months of payments that Wells collects from you on behalf of their real customer, the secondary investment market. Wells is apparently in a buying spree with them...
and i just found out why my servicer was probably changed a couple of times in the last two years... apparently ACS was lying to borrowers about being able to apply for income based repayment... that's a thing i asked em about when my monthly payments to them were more than my monthly take home pay, and they told me it was absolutely not an option, and that my only option was a program that was basically just extortion (it basically ended up as "pay us thousands of dollars just to not garnish your wages while you don't pay down your loan for a year then you still pay us back all the money you owe within the original timeline so your payment will be even higher")... wonder if they were just outright lying to me about my options there...I cannot describe my rage at finding this out today.
The focus on potential EITC fraud is at the direction of Republicans in Congress.
Probably because they’re charging twice the rate everyone else is. Easy to make a profit when you gouge in low information markets
The concept of delegating essential government functions, like stuff with vested legal authority, is really unsettling. Private prisons are just the tip of the spear there.
Tax collectors were private for much of history. The project of the modern state was centralizing those functions that had been farmed out to private entities into the state bureaucracy, because those private entities had proven themselves to be wholly corrupt and inefficient.
The project of privatization is a project of feudalization.
Edit: To put it poetically: For some reason, people believe that the greed of the corporate ceo and board of directors is more noble than the greed of the feudal lord and his knights.
"Orkses never lose a battle. If we win we win, if we die we die fightin so it don't count. If we runs for it we don't die neither, cos we can come back for annuver go, see!".
Taxation has been privatised in the past. E.g., in Roman times, tax collectors paid the government up front (the prospective tax collector who offered the most up-front cash got the contract) and then kept all taxes collected for himself. His profit was the difference between that collected and that paid to the government up front. (This practice is known as "tax farming"; in fact, this is what "farming" originally meant.)
Unsurprisingly, this ended up a de facto protection racket, and the poor got screwed and the rich didn't have to pay anything.
Sure, yeah, as a tax collector, I could work hard to get more money... ooorrrr I can just take whatever a whole bunch of people are willing to pay me to look the other way and just spend my days playing video games.
I’m not following...the rate is set by the lender, based on lining up investors willing to buy the loan at a certain rate. The rate isn’t impacted by any MSR transactions after the loan is originated...
Frankly I don’t trust them to not break the system. Theoretically they should not be able to modify the MSR rate when purchasing the contract. But there should not be a reason they would be an outsized purchaser otherwise
That article is about fees for debit cards, checking accounts, etc. Not student loans.
This is why “tax collector” is used in roughly the same sense as “serial killer” in the New Testament.
She's been released on $10M bail. Which should totally mitigate any flight risk she might pose. Although with statements like this from Trump, the Canadians might have an excuse to deny extradition due to no assurance that she'll get a fair trial. 2018 is stepping up it's game in the final weeks.
Wait... this is still in Canada, right?
So... the best case scenario for two of the three countries involved, is if she skips. China don't get to see the daughter of one of their bigger corporations used as a bargaining chip, Canada get a nice chunk of change, and Trump gets to twist in the wind.
Sounds like a win/win/win situation to me.
I'm sure Trudea will be able to convincingly apologize while hiding the fact that dicking Trump over gives him a warm fuzzy, so even that works out well.
Yeah, she's out on bail pending the extradition hearing. Which strikes me as a little strange, since if you're up for extradition you've already shown yourself to be mobile enough to leave the country where you're accused of committing a crime. What do I know though.
Given this mess I wouldn't be surprised if the next arrest request from the US for a person at this level might end up being lost until five minutes after the flight clears Canadian airspace.
Kidnapping as trade policy. Cool.
Cool cool cool.
The whole thing is a mess, as a significant portion of her bail came from people in the Chinese-Canadian community in Vancouver.
Also on Steam and PSN: twobadcats
The CFO of the largest telecom in China got $10M in bail from regular people? What. The. Hell.
She’s wearing an ankle monitor and under 24/7 direct supervision. I’m not saying it’s impossible that she could but it seems unlikely.
Edit: It’s also not a given that she’s being extradited. That’s what her future day in court is for.
If you read around a bit, the Chinese Canadian community are deeply unhappy about what they see as Canada inserting itself in a U.S./China trade dispute. A lot of the more prominent members of the community also conduct business between the two nations and aren't too happy about having to work in an environment where they could be arrested due to American political pressure, especially when the Americans are more and more willing to leverage traditionally non-political systems for political gain.
White House officials were literally bragging about how they planned to use her arrest as leverage in the tariff negotiations. Beyond what she is and is not guilty of, can you see how that is a major cause of alarm for the Chinese Canadian business community?
Not in any way that would explain paying her bail, no.
I absolutely see why they're unhappy. I'm just not sure why she's not able to cover bail herself.
Jimmy Vielkind is a WSJ reporter.
Disgusting.
The actual news is that part of the deal that Amazon got is that public records requests are submitted to Amazon first so they can hide the dirt beforehand:
Eliza Shapiro is a NYT reporter.
Wait... what?
Edit: Like this can't even be considered just general corporate bootlicking. The business friendly act would be to do it for all the companies and not just one.
She probably can, but if the rubes give you(or China 'encourages' them to give you) $10 million bucks, you don't look that gift horse in the mouth