Trump's Bond

[riflearm2]

The guy who just covered Trump's $175MM bond? I know him (and his son). When I was in Cabo four years ago, the son (who is the Vice Chairman of their biggest company) saw that I was there while he and his dad were, and they invited me to their place for lunch.

Now, instead of potentially working with them as a vendor (how they knew me before, since the company I am a part-owner of was trying to work with them), I compete directly against them. One of the managers I hired grew up with the son, is still best friends with him, spent the night at his house a few weeks ago, etc. Always seemed good to me, but there are a lot of stories . . .

The guy is the least known billionaire in the country. #1 wealthiest in Los Angeles and #3 in California. The family is filthy fvcking rich but has a lot of family issues.

 

[WVUSerg]

The guy who just covered Trump's $175MM bond? I know him (and his son). When I was in Cabo four years ago, the son (who is the Vice Chairman of their biggest company) saw that I was there while he and his dad were, and they invited me to their place for lunch.

Now, instead of potentially working with them as a vendor (how they knew me before, since the company I am a part-owner of was trying to work with them), I compete directly against them. One of the managers I hired grew up with the son, is still best friends with him, spend the night at his house a few weeks ago, etc. Always seemed good to me, but there are a lot of stories . . .

The guy is the least known billionaire in the country. #1 wealthiest in Los Angeles and #3 in California. The family is filthy fvcking rich but has a lot of family issues.

I bet they are devastated

 

[Rock98Dog]

Was there a point you forgot to make or just name dropping?

 

[muthed]

Was there a point you forgot to make or just name dropping?

He must be mending from his collision. I see he's back to dropping names. We'll, not dropping names, but letting us know he hobnobs with the bigwigs. Wouldn't surprise me if he is mentioned as a VP for Trump. Probably not, though. He's too far left to meet the qualifications.

 

[Archetype XLIV]

The guy who just covered Trump's $175MM bond? I know him (and his son). When I was in Cabo four years ago, the son (who is the Vice Chairman of their biggest company) saw that I was there while he and his dad were, and they invited me to their place for lunch.

Now, instead of potentially working with them as a vendor (how they knew me before, since the company I am a part-owner of was trying to work with them), I compete directly against them. One of the managers I hired grew up with the son, is still best friends with him, spent the night at his house a few weeks ago, etc. Always seemed good to me, but there are a lot of stories . . .

The guy is the least known billionaire in the country. #1 wealthiest in Los Angeles and #3 in California. The family is filthy fvcking rich but has a lot of family issues.

Was there a point you forgot to make or just name dropping?

CTEarm2.

 

[riflearm2]

Was there a point you forgot to make or just name dropping?

The point I was making is that even though they have major family issues, he’s never destroyed his children’s childhood memories to save a few dollars all while claiming he didn’t care about the money.

 

[WV-FAN]

The point I was making is that even though they have major family issues, he’s never destroyed his children’s childhood memories to save a few dollars all while claiming he didn’t care about the money.

i thought the point you were trying to make is that it's perfectly normal to have sleep overs as a grown man. not sure we want to hear all of those stories, though.

 

[riflearm2]

i thought the point you were trying to make is that it's perfectly normal to have sleep overs as a grown man. not sure we want to hear all of those stories, though.

One of the two from that story is a female. Seems like your fantasies have you jumping to conclusions.

 

[WV-FAN]

One of the two from that story is a female. Seems like your fantasies have you jumping to conclusions.

as in female, or "female".

 

[extragreen]

as in female, or "female".

Cons: always obsessed with other people's genitals.

 

[HerdandHokies]

The point I was making is that even though they have major family issues, he’s never destroyed his children’s childhood memories to save a few dollars all while claiming he didn’t care about the money.

Would you happen to know if they ever got licensed to write bonds in New York?

 

[riflearm2]

Would you happen to know if they ever got licensed to write bonds in New York?

I don’t know, but I’ve heard that rumored issue, too.

They have multiple companies, but they all revolve around Westlake. Westlake is, by far, the biggest subprime auto lender in the country. From that sprung a tech company, a DMS company (dealer management system software), a real estate enterprise (he just took over hundreds of apartments earlier this year after foreclosure, and he was the main financier on the most expensive residence in Los Angeles history that the owner defaulted on last year), and the Knight Insurance thing, which I’ve never heard them talk about and I had no clue existed.

One son, Rufus, allegedly has been pushed out of the family’s businesses due to his addictions (and his messy divorces). The other son, who has been cool to me, has had his own issues including a drug-induced stroke/medical issue that caused a limp within the last two years.

They’re multi-billionaires who don’t act like it, and Don has a legendary work ethic even at 80+ years old.

 

[HerdandHokies]

Lol it wasn’t even a bond

 

[Rock98Dog]

Wondering if rifle ever did what was necessary to get in a P Diddy party while also wondering how he sleeps taking advantage of poor people by charging excessive interest rates.

 

[i am herdman]

Wondering if rifle ever did what was necessary to get in a P Diddy party while also wondering how he sleeps taking advantage of poor people by charging excessive interest rates.

Probably a lot of minorities. Does California allow a lot this kind of thing?

 

[riflearm2]

taking advantage of poor people

Every month, we have consumers who make seven-figures annually. Those poor millionaires.

Removing those outliers, our average consumer makes about $60k per year. Glad to see that you’re calling many people on this board “poor.”

charging excessive interest rates.

Hardly excessive. In fact, based on state usury caps, we have more room if we wanted to in many states. Our APR is based on the data we have for default rates based on the applicant’s history as well as the unit being financed. If banking had worked out better for you and not led you to have to buy a smaller house and rob your children’s best childhood memories (all while having to get a job in another industry), you’d understand all of that.

 

[big_country90]

Every month, we have consumers who make seven-figures annually. Those poor millionaires

A: Making seven figures does not make one a millionaire. It just means you earn seven figures (before tax). A millionaire is someone whose net worth (not income) exceeds $1 million. But you already knew that.

2. Making seven figures doesn’t automatically correlate to having good credit.

and D. You’re a last chance lender. You know it. I know it. We all know it. Now, I won’t give you too much grief over the high interest rates you charge because I understand risk and I understand the lending business. But don’t act like you’re a shining beacon on a hill. People come to sub-prime lenders, hat in hand, because they have no other choice, and knowing they’re paying 2-3 times (if not more) the interest of someone with better credit and better options.

 

[riflearm2]

2. Making seven figures doesn’t automatically correlate to having good credit.

Banker's attempt was to try and vilify subprime lenders as preying on the poors. My counterpoint wasn't saying that millionaires all have good credit. It was to show that many have bad credit yet aren't poor in the eyes of most.

and D. You’re a last chance lender.

Not completely accurate. We also finance near-prime consumers.

I know it.

You should know it, as the department in your company that tried doing it had to cease operations because they couldn't survive. I'm available for the right amount of shares since your previous execs couldn't run the business.

People come to sub-prime lenders, hat in hand, because they have no other choice,

No people come to us. We are an indirect lender. They go to banks, like your own, who refuse to give them the time of day, leave them out in the cold, and tell them they can catch a bus if they need to get to their job. On the other hand, we find a way to help them as much as possible, allow them to get back on their feet, and even tell them when they should refinance (assuming their FICO gets high enough for evil banks like your own to take them on).