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How many of you DO like Mondays and why? by ordinarybloke1963 in AskReddit

[–]ScrewedThePooch 2 points3 points  (0 children)

If you get all typical U.S. Federal holidays off from work, statistically you are more likely to have a day off on a Monday than any other weekday.

There are five guaranteed-off Mondays in the Federal Holiday calendar:

  • Birthday of Martin Luther King, Jr. (Third Monday in January)

  • Washington's Birthday (Third Monday in February)

  • Memorial Day (Last Monday in May)

  • Labor Day (First Monday in September)

  • Columbus Day (Second Monday in October)

I like Mondays because there is at least a 9.6% chance that I will have any given Monday off. (5 guaranteed holiday Mondays / 52 weeks in the year). This minimum 9.6% chance is higher than any other day of the work week.

This is why people use Adblock by telconetizen in assholedesign

[–]ScrewedThePooch 0 points1 point  (0 children)

Serious question. Who has ever said to you in real life that they object to people using adblocker?

I have basically only ever seen this argument from butt-hurt marketers on reddit or scumbags like Forbes trying to guilt trip users into disabling it.

This is why people use Adblock by telconetizen in assholedesign

[–]ScrewedThePooch 0 points1 point  (0 children)

So, what you're saying is that cars are basically a commodity.

There's almost always a way to get money to pay for a bullshit car you can't afford. They'll be happy to give you a 6-year loan at 15% APR.

I almost got scammed by ufo_pilot in personalfinance

[–]ScrewedThePooch 1 point2 points  (0 children)

Not everyone has a bank account. Western Union prey on those who don't.

I almost got scammed by ufo_pilot in personalfinance

[–]ScrewedThePooch 2 points3 points  (0 children)

Why? Western Union is very clearly profiting from these scams and honestly didn't really do shit to stop them.

They could have required additional identification in the destination country.

They could have had extremely high scrutiny built in to their process when money is sent to 'high-risk' countries like Nigeria and Jamaica.

They could have sent the data off to the police when a scam was sent reported.

These guys were complicit in all this shit and should have done more to stop it. That doesn't excuse the gullibility, stupidity, and greed of the people who usually get scammed, but WU should absolutely not be profiting off of this for going on so long.

Senate Dems' bill would penalize credit reporting agencies for breaches by Bogartsboss in politics

[–]ScrewedThePooch 0 points1 point  (0 children)

Their corporate charter needs to be revoked. Same with Wells Fargo who committed multiple acts of organized crime against their customers.

Heads up if you have a Bank of America eBanking checking account: your account is about to be converted to one with fees by ScrewedThePooch in personalfinance

[–]ScrewedThePooch[S] 1 point2 points  (0 children)

Or you can avoid these bullshit games altogether and switch to a better bank with no fees. If you want some ideas about which bank to switch to, you can check the wiki here: http://goedhartvoordieren.nl/?page=r/personalfinance/wiki/banks_and_credit_unions

[Serious] What is seen as taboo by society that should be open for discussion? by i_Erebus in AskReddit

[–]ScrewedThePooch 2 points3 points  (0 children)

Discussing finances with others. We need more open discussion about how to manage debt and investments, or we will all be doomed to repeat the same stupid mistakes.

After Equifax breach, anger but no action in Congress. The aftermath of the data breach played out like a familiar script: White-hot bipartisan outrage, then hearings and proposals that went nowhere. by [deleted] in technology

[–]ScrewedThePooch 0 points1 point  (0 children)

Totally pulled it out of the air to illustrate a point. I have no idea how much the law firms siphon off the top, but I know it's a constant joke when people talk about class actions. It much be a sizeable chunk.

After Equifax breach, anger but no action in Congress. The aftermath of the data breach played out like a familiar script: White-hot bipartisan outrage, then hearings and proposals that went nowhere. by [deleted] in technology

[–]ScrewedThePooch 3 points4 points  (0 children)

Equifax fucks over 145,000,000 people. Let's estimate the loss per person at $400.

Scenario 1:

  • 1% of these people sue Equifax directly for $400 which generates 1,450,000 lawsuits against them. Maybe they also throw on a legal fee expense in there too, so let's call it a $1000 claim per lawsuit against Equifax.

  • Equifax loses all 1.45 million lawsuits and must pay $1000 per claimant: $1,450,000,000

  • Each person who was wronged, filed and went through the formal process of suing Equifax now gets $400 after legal fees.

  • Equifax pays $1.45 million. Each person wronged gets $400 after long drawn-out litigation process.

Scenario 2:

  • One law firm creates a class action on behalf of the 145m people.

  • They sue Equifax for 145,000,000 people X $400/person = $58,000,000,000

  • Equifax loses this one lawsuit and pays $58b

  • Lawyers take 90%: $52,200,000,000

  • Claimants get $5,800,000,000. Divvied up among 145m people, each member of the class gets $40.

  • Equifax pays $58 billion. Each person wronged gets $40 after doing basically nothing. Lawyers make off like bandits.

While Scenario 1 gets more money into the hands of the victims, it only gets money for the victims who are willing to go file their own lawsuits and drive them to completion which could take years. Scenario 2 is clearly the better option if deterrence is the goal. In Scenario 2, Equifax is forced to pay a much more massive fine, even though each victim doesn't get much money. The fact that Scenario 2 exists as an option is a huge deterrent to be an incompetent or predatory business.

If you think that $58b is ridiculously high, you are right. That's why you sholdn't fuck over 145m people. The fine from legally wronging this massive of a population should lead to a company's downfall.

How exactly are parents able to take out loans using their childrens SSN? by [deleted] in personalfinance

[–]ScrewedThePooch 0 points1 point  (0 children)

Don't credit bureaus use Date of Birth as part of the unique identifier to keep separate people with the same name from getting crossed?

Also every credit application I've ever seen asks for DOB.

Marcus (formerly GSBank) Savings now has 1.40% APY by tejasgadhia in personalfinance

[–]ScrewedThePooch 0 points1 point  (0 children)

Could be his emergency fund which is more insurance than an investment.

If you already have financing lined up for a car, DON'T give the car dealership your social security number. by 16semesters in personalfinance

[–]ScrewedThePooch 11 points12 points  (0 children)

The vast majority of people who get to that point in the sale are not going to abort for this reason. Same with the forced arbitration clause in their contract that I caught but would have been a nightmare to fight it and get it deleted.

If you already have financing lined up for a car, DON'T give the car dealership your social security number. by 16semesters in personalfinance

[–]ScrewedThePooch 58 points59 points  (0 children)

Not always necessarily true so check the details of your paperwork thoroughly.

I have come across dealers that refuse to sell without running an OFAC check with SSN, but the paperwork very clearly states that it is for this purpose only and not for a credit pull. No income info or credit-related info is provided, just SSN. No hard pulls and no inquiries after running this.

While you are correct that the IRS does not mandate the background check for bank check purchases, that specific dealer or dealer's parent corporation may refuse a sale without it just to cover their ass.

Read your paperwork, and make it very clear that a credit check is not authorized.

What person or company is viewed positively but in actuality is scummy? by Free_Hot_Takes in AskReddit

[–]ScrewedThePooch 1 point2 points  (0 children)

Disney. Evil as fuck. Takes stories from the public domain, Disneyfies them, then lobbies to forever keep their works enslaved in eternal copyright. There is a lot of other shady stuff about Disney, but they've curated a shiny plastic image so that people gobble up their IP like basic bitches gobble up Starbucks lattes.

How to deal with major purchase regret? by makingbadlifechoices in personalfinance

[–]ScrewedThePooch 2 points3 points  (0 children)

Never beat yourself up over:

  • a missed investment opportunity

  • an investment gone bad

  • a stupid purchase smaller than a car

  • getting sucked into a pyramid scheme or scam

  • getting yourself into debt

Learn from your mistakes, fix your problems, and try to apply what you've learned to future financial decisions. Mastering personal finance takes a long time. Part of learning is making mistakes.

You're not in bad shape. $2000 is a lot, but you could be in much worse shape. You will recover from these purchases.

Maybe subscribe to /r/anticonsumption if you'd like some help on reshaping your life view to not buy so much stuff.

I just thought of an interesting way of how to put fast-food purchases into perspective by 1hr-username in personalfinance

[–]ScrewedThePooch[M] 4 points5 points  (0 children)

Insults are not allowed here. It is fine to disagree, but personal attacks will be removed and may result in a ban.

Go to hell by Koi_Fish_ in assholedesign

[–]ScrewedThePooch -1 points0 points  (0 children)

Report it to the Secret Service for counterfeiting.