The Biden Presidency - 2020

[Edward64]

Couple efforts to restrict Congress in stock trading. They should do something. All in all, the second option of a blind trust seems more fair to me.

Finally, the far left and far right have found something they can agree on.

Socialist Rep. Alexandria Ocasio-Cortez (D-NY) and firebrand Rep. Matt Gaetz (R-Fla.) are co-sponsoring a bill to restrict members of Congress from owning or trading stocks.

H.R. 3003, also sponsored by moderate Rep. Brian Fitzpatrick (R-Pa.) and progressive Rep. Raja Krishnamoorthi (D-Ill.), would prohibit congressional spouses and other dependents from owning or trading stock as well.

Another bipartisan bill introduced by Reps. Abigail Spanberger (D-Va.) and Chip Roy (R-Texas), known as the TRUST in Congress Act, would require members of Congress, their spouses and dependents to place investments into blind trusts until after they leave office.
:
“Her TRUST in Congress Act continues to gain steam — with more than 55 Republicans and Democrats now supporting her bill. And in the wake of lawmaker trades related to Silicon Valley Bank and First Republic Bank, Rep. Spanberger’s office is seeing more interest from lawmakers who want to join her push.”

[NobodyHere]

I think all congressmen should only be allowed to invest in a blind trust.

With that said, what exactly is the enforcement mechanism in this bill? What happens when a congressmen is caught trading stocks. Will it just be a simple fine? A censure? Expulsion? And will be apply fairly to Rs Ds and Is fairly no matter who is in power?

It would probably be as big a farce as Clarence Thomas's financial disclosure forms.

[albionmoonlight]

The enforcement is the key.

Rep. X gets duly elected and say "No. I won't do that."

Then what?

[Kodos]

Put them in the Iron Maiden!

[JPhillips]

The "assassination" video released by the Russians is fucking ridiculous. Putin wasn't even in the Kremlin when the "drone attack" happened.

[Lathum]

Originally Posted by JPhillips

The "assassination" video released by the Russians is fucking ridiculous. Putin wasn't even in the Kremlin when the "drone attack" happened.

Crazy they think anyone will fall for that

[JPhillips]

Turns out Harlan Crowe paid the private-school tuition for Clarence Thomas's son(really a grand-nephew, but he called him a son).

edit: OMG. Harlan's statement:

“Harlan Crow has long been passionate about the importance of quality education and giving back to those less fortunate, especially at-risk youth."

[Mota]

Shouldn't a judge have rules to ensure they are free of "influence"? Seems like Clarence has a lineup of people that have influence over him. You'd like being a surpreme court judge that he'd be getting paid enough to send his son to school.

[Edward64]

I can be convinced otherwise, but I'm leaning towards this is breaking the spirit of Biden's "no new taxes < $400K" rule.

It does seem that people with better credit will pay more while people with lesser credit will pay less, and the inference is people with better credit is subsidizing for people with lesser credit. I actually don't mind lesser credit paying less (with the necessary approval process rigor e.g. no Ninja loans) but let's not do it at the same time as higher credit paying more ... give it 6-12 months in between.

Housing: How a new rule is prompting criticism borrowers with good credit are being penalized

New pricing for federally guaranteed mortgages has sparked criticism in recent weeks, prompting claims that borrowers with higher credit scores will subsidize those with lower credit through higher fees

With a new rule, the Federal Housing Finance Agency updated its upfront fees for Fannie Mae and Freddie Mac mortgages, which would raise mortgage fees for some while lowering them for others.

On a conventional 30-year loan of $400,000, the upfront fees could add up to $42 per month for borrowers with a credit score above 780, Freddie Mac data showed.

Some borrowers with higher credit scores and down payments could see fees increase between 5 and 25 basis points, according to an analysis from the Mortgage Bankers Association.

Financial officers in 27 states recently wrote an open letter to the White House asking President Biden to rescind the new rule, saying the fees will make it significantly more expensive for borrowers with good credit to purchase a home.

“In other words, the policy will take money away from the people who played by the rules and did things right – including millions of hardworking, middle-class Americans who built a good credit score and saved enough to make a strong down payment,” the letter read.

Weird doublespeak here. I may be missing a nuance though. Maybe it's not higher rates but higher closing costs? Same difference

“Good credit borrowers are not being offered higher rates than lower credit borrowers. FHFA’s new pricing just means that they are not getting as big of a break on their rate as before,” MBA said.

[Ksyrup]

The next place this shows up is going to be credit card transaction fees. There's a similar line of thought that poor people are subsidizing rich people's use of credit cards for transactions because most retail prices take into account the vast number of credit card transactions and the 2-3% transaction fees retailers pay. So your poor guy paying in cash is subsidizing the rich guy's use of credit cards.

There are some places (mostly services like HVAC, flooring, landscaping, etc.) where I've seen companies add that credit card fee on top of the price if you insist on paying by credit card instead of cash/check, but most retailers don't separate it out. But I think you're going to see some form of transfer of that payment obligation to people more likely to use credit cards. I'm not sure exactly what form that will take though.

[sterlingice]

A lot of restaurants already do this. Gas stations, too.


SI

[albionmoonlight]

Originally Posted by Ksyrup

The next place this shows up is going to be credit card transaction fees. There's a similar line of thought that poor people are subsidizing rich people's use of credit cards for transactions because most retail prices take into account the vast number of credit card transactions and the 2-3% transaction fees retailers pay. So your poor guy paying in cash is subsidizing the rich guy's use of credit cards.

There are some places (mostly services like HVAC, flooring, landscaping, etc.) where I've seen companies add that credit card fee on top of the price if you insist on paying by credit card instead of cash/check, but most retailers don't separate it out. But I think you're going to see some form of transfer of that payment obligation to people more likely to use credit cards. I'm not sure exactly what form that will take though.

It is fair. But I can see lots of pushback b/c the people who have cards, as you noted, have more resources than those that don't. Considering that, and considering the lobbying power to the big card companies, I'd be surprised if states don't start outlawing different prices for cash/card.

[Flasch186]

I’m in real estate and it’s been the soup du jour and have spent weeks talking to experts including ceos of large mortgage banks and the inferences are inaccurate as to what’s actually in it and why and who it affects

However

I won’t waste energy trying to convince those that “can be convinced”


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[JPhillips]

They should outlaw banks charging the processing fees. Using cards for transactions is much cheaper for the banks than dealing with cash.

[Ksyrup]

This is all (eventually) tied to credit card benefits/rewards. There is a push to limit credit card transaction fees which would effectively end credit card benefits and the primary way credit card companies and banks market cards. There will be no more 10X cards, no miles, no card issuer-branded travel portals to buy through, etc.

I will be very sad if that happens, given that I've had many a trip nearly entire paid for with points and miles and am currently planning an 8-10 day trip to the UK next year that I may not have to spend more than $1000-1500 on a hotel and business class flights.

[Ksyrup]

And incidentally, everything I just posted about credit card rewards is another rich vs poor argument.

[albionmoonlight]

Things can change, but it certainly seems like the Dems misplayed the politics of the debt ceiling.

At this point, the GOP was supposed to be running around like headless chickens, and they would come, exhausted and defeated, to Biden to ask for his conditions.

That's not happening. The GOP is united, and Biden is the one who seems to have no wiggle room.

The Dems have gotten better at politics since 2016, but I would not go as far as to say that they are good at it.

They had the chance to eliminate the debt ceiling when they controlled Congress, and they did not--figuring that a ceiling fight would help them politically. That seemed risky and stupid at the time. And I think that reality is showing that to be the case.

"I could take the bullet out of my opponent's gun. But I won't because people will think badly about him when he shoots me" is kind of stupid, IMO.

[Ryche]

Originally Posted by albionmoonlight

Things can change, but it certainly seems like the Dems misplayed the politics of the debt ceiling.

At this point, the GOP was supposed to be running around like headless chickens, and they would come, exhausted and defeated, to Biden to ask for his conditions.

That's not happening. The GOP is united, and Biden is the one who seems to have no wiggle room.

The Dems have gotten better at politics since 2016, but I would not go as far as to say that they are good at it.

They had the chance to eliminate the debt ceiling when they controlled Congress, and they did not--figuring that a ceiling fight would help them politically. That seemed risky and stupid at the time. And I think that reality is showing that to be the case.

"I could take the bullet out of my opponent's gun. But I won't because people will think badly about him when he shoots me" is kind of stupid, IMO.

I'm pretty sure Manchin and Sinema never would have allowed the elimination of the debt ceiling.

[albionmoonlight]

Originally Posted by Ryche

I'm pretty sure Manchin and Sinema never would have allowed the elimination of the debt ceiling.

Good point that I had forgotten about.

I know that high ranking Dems never really entertained the idea. But if they knew that it would never get past Manchin, then they had an incentive to pretend like it helped them.

[RainMaker]

Originally Posted by Ksyrup

This is all (eventually) tied to credit card benefits/rewards. There is a push to limit credit card transaction fees which would effectively end credit card benefits and the primary way credit card companies and banks market cards. There will be no more 10X cards, no miles, no card issuer-branded travel portals to buy through, etc.

I will be very sad if that happens, given that I've had many a trip nearly entire paid for with points and miles and am currently planning an 8-10 day trip to the UK next year that I may not have to spend more than $1000-1500 on a hotel and business class flights.

You'd make more just paying 2% less for everything in your daily life.


They're just a middleman taking a cut and offering nothing in return to society. The more middlemen we can cut out, the better it is for both consumers and small businesses.

[Ksyrup]

The idea that we'd see a difference in retail costs is laughable.

[Ksyrup]

And honestly, it's kind of a form of savings. If I kept 2% more, I'd probably find ways to spend it rather than specifically save to buy $6-8K worth of business class seats to Europe. And then there's the psychology of knowing I spent far less than $6-8K in real money to pay for those seats. Right now, I'm probably looking at about $3500-4000 in points value for those seats.

[RainMaker]

Originally Posted by Ksyrup

The idea that we'd see a difference in retail costs is laughable.

Why would it not? Price matters to consumers and businesses have to compete with each other for those consumers.

Even if it just went into the businesses pocket, it's at least going to a business that is providing the product or service. Much better than a leach in the middle getting a cut for nothing. I'd rather my local restaurant get the extra 2% than some shitbag banker.

[RainMaker]

Originally Posted by albionmoonlight

The Dems have gotten better at politics since 2016, but I would not go as far as to say that they are good at it.

They currently can't confirm a judge despite having control over the Senate and Presidency. They misplayed the debt ceiling stuff. And SCOTUS, which has just been revealed to be taking bribes is about to make a ruling that ensures they will probably not hold the Presidency again in our lifetime.

I'd say they've gotten better from 2016 but they are still comically inept.

[JonInMiddleGA]

Originally Posted by Ksyrup

There are some places (mostly services like HVAC, flooring, landscaping, etc.) where I've seen companies add that credit card fee on top of the price if you insist on paying by credit card instead of cash/check, but most retailers don't separate it out.

Yeah, that does happen ... and those are places that don't get my business again (or at all, if I spot it in time)

And honestly, it's been the opposite in recent years around here. Over half the service type businesses you mentioned I've dealt with in the past 5-10 years are card / electronic only now. Just under half will take checks at all (at least not without specific approval).

[cuervo72]

Originally Posted by cuervo72

Hey, it's been at least a week since I've seen a report of an explosion in Texas.

WELL so much for that streak.

[RainMaker]

The Democrats

Dianne Feinstein declines to give timeline for return to Congress in defiant statementhttps://t.co/4q8nDdSBZu

— Ken Klippenstein (@kenklippenstein) May 6, 2023

[Edward64]

The article is on Hunter's problems and possible impact on Joe. Nothing too surprising but below statement caught my eye.

Hunter is making child support payments (but maybe not consistently per the current lawsuit). I've read court order DNA has proven he is the father.

It seems out of character for Joe aka Grandpa Joe. Easy enough to acknowledge grandchild by saying something like ... "love Hunter, he and Lunden have to work it out in court of law, love to see my grand daughter if Lunden allows it etc.".

Bracing for impact: Biden world preps for Hunter Biden fallout - POLITICO

Hunter Biden appeared in an Arkansas courtroom this week as part of a bitter dispute with the mother of his 4-year-old child over reducing his child support payments. The mother of the child, Lunden Roberts, has accused the younger Biden of ignoring court orders to provide information about his finances and has asked a judge to declare him in contempt and have him jailed until he complies.

The president and first lady have yet to publicly acknowledge the existence of the child, who is their seventh grandchild. White House press secretary Karine Jean-Pierre this week declined to discuss the subject during her briefing.

[flere-imsaho]

You'd think a party with so many geriatric people serving in national positions, and who just went through this with RBG & Ted Kennedy, would have figured this out by now.

[JPhillips]

I'll be damned. I just saw a DeSantis PAC 2024 commercial on HGTV. I guess he's choosing the path of eternal humiliation.

[Edward64]

I believe Durbin can have the Senate Judiciary hold hearings & investigation, regardless of what SCOTUS does internally. I don't know if they can do anything about Thomas specifically but let's get it all out there in public.

Senate Judiciary chair says 'everything is on the table' in response to Clarence Thomas revelations | CNN Politics

Senate Judiciary Chair Dick Durbin said Sunday that “everything is on the table” as the panel scrutinizes new ethics concerns around Supreme Court Justice Clarence Thomas.

“The bottom line is this: Everything is on the table. Day after day, week after week, more and more disclosures about Justice Thomas – we cannot ignore them,” the Illinois Democrat told CNN’s Jake Tapper on “State of the Union.”

“The thing we’re going to do first, obviously, is to gather the evidence, the information that we need to draw our conclusions. I’m not ruling out anything,” he added.

ProPublica reported recently that, for years, Thomas has accepted lavish trips and gifts from GOP megadonor Harlan Crow, which have gone mostly unreported on the justice’s financial disclosures. Crow also purchased several real estate properties, including the home where Thomas’ mother lives, from the Thomas family and paid boarding school tuition for Thomas’ grandnephew, according to ProPublica.

[Atocep]

Originally Posted by JPhillips

I'll be damned. I just saw a DeSantis PAC 2024 commercial on HGTV. I guess he's choosing the path of eternal humiliation.

He's too stubborn not to run at this point. Always the smartest man in the room and no one is going to tell him otherwise.

Once he started sinking the smart play for him would have been to let Trump know he isn't running, hope one of these indictments knocks Trump out, and then jump into the race late with MAGA support.

Or just sit out and let Trump pick you as his replacement for 2028.

Unless he starts fighting back he may end up too damaged to be a serious candidate in 2028.

[Atocep]

Originally Posted by Edward64

I believe Durbin can have the Senate Judiciary hold hearings & investigation, regardless of what SCOTUS does internally. I don't know if they can do anything about Thomas specifically but let's get it all out there in public.

Senate Judiciary chair says 'everything is on the table' in response to Clarence Thomas revelations | CNN Politics

With the GOP controlling the House there's absolutely no chance of anything happening to Thomas. What dems need to do is get as much out to the public as possible to put pressure on Roberts to agree to some sort of code of ethics.

Their hands are tied because the GOP doesn't care if their justices are corrupt as long as they keep ruling in their favor.

EDIT: I actually doubt the GOP cares if any of the justices are corrupt as long as they hold a 6-3 advantage on the court.

[Edward64]

Originally Posted by Atocep

With the GOP controlling the House there's absolutely no chance of anything happening to Thomas. What dems need to do is get as much out to the public as possible to put pressure on Roberts to agree to some sort of code of ethics.

Their hands are tied because the GOP doesn't care if their justices are corrupt as long as they keep ruling in their favor.

I get Congress won't do much. But Senate Judiciary is under Durbin so he should be able to get hearings & investigations going. This seems like a no brainer to me and wonder why it's not been announced already.

[Atocep]

Originally Posted by Edward64

I get Congress won't do much. But Senate Judiciary is under Durbin so he should be able to get hearings & investigations going. This seems like a no brainer to me and wonder why it's not been announced already.

The judiciary committee held a hearing on it last week.

[GrantDawg]

Originally Posted by Atocep

He's too stubborn not to run at this point. Always the smartest man in the room and no one is going to tell him otherwise.

Once he started sinking the smart play for him would have been to let Trump know he isn't running, hope one of these indictments knocks Trump out, and then jump into the race late with MAGA support.

Or just sit out and let Trump pick you as his replacement for 2028.

Unless he starts fighting back he may end up too damaged to be a serious candidate in 2028.

He reminds me so much of Mike Pompeo. Overly smug, ultra-entiled, and has a personality that the more people get to know them, the more they dislike them.

[Flasch186]

Re the mortgage loan program comment above:

https://www.floridarealtors.org/news...m_medium=email


Sent from my iPhone using Tapatalk

[GrantDawg]

ABC News new poll has Trump trouncing Biden in a head to head. The number on this poll are in nightmare land for Biden. Only 38% said he had a mental acuity sharp enough for the job. Most do not believe he should be the candidate. 58% said Trump did a better job with the economy. And even though over 50% believe Trump should face charges for Jan. 6th, 18% of those would still vote for him.
I never expected to see poll numbers this bad. It is grim. I have long feared the economy, specifically inflation, would sink Biden. Looks like that is going to happen unless something changes.
https://www.washingtonpost.com/polit...post-abc-poll/

[albionmoonlight]

Of course Trump can win again (if nominated). Obviously. More likely than not, another close election. But you really shouldn't be updating your beliefs much in either direction based on a poll 18 months ahead of the election.

— Nate Silver (@NateSilver538) May 7, 2023

[Lathum]

I keep saying it. The GOP is going to sink the global economy to make Biden look bad.

[Thomkal]

Originally Posted by GrantDawg

ABC News new poll has Trump trouncing Biden in a head to head. The number on this poll are in nightmare land for Biden. Only 38% said he had a mental acuity sharp enough for the job. Most do not believe he should be the candidate. 58% said Trump did a better job with the economy. And even though over 50% believe Trump should face charges for Jan. 6th, 18% of those would still vote for him.
I never expected to see poll numbers this bad. It is grim. I have long feared the economy, specifically inflation, would sink Biden. Looks like that is going to happen unless something changes.
https://www.washingtonpost.com/polit...post-abc-poll/

Or you can see where it shows Trump leading the youth vote by a lot over Biden and you can laugh at the poll because there is no way that is real.



https://twitter.com/PalmerReport/sta...38259164155905

[Lathum]

I wonder if we will see the reverse of the Trump polling effect with Biden. Historically people wouldn't admit they were voting Trump. I wonder if that will now shift to Biden.

[Galaril]

So I have always liked and supported Biden and I too think Democrats have to get him to step down and not run again. But who do Dems want to run? I would like to see California’s Gavin Newsome or maybe Whitmer from Michigan but fear many on the Left would view them as too moderate LOL.

[Edward64]

Originally Posted by GrantDawg

ABC News new poll has Trump trouncing Biden in a head to head. The number on this poll are in nightmare land for Biden. Only 38% said he had a mental acuity sharp enough for the job. Most do not believe he should be the candidate. 58% said Trump did a better job with the economy. And even though over 50% believe Trump should face charges for Jan. 6th, 18% of those would still vote for him.
I never expected to see poll numbers this bad. It is grim. I have long feared the economy, specifically inflation, would sink Biden. Looks like that is going to happen unless something changes.
https://www.washingtonpost.com/polit...post-abc-poll/

It is a long ways off and fair chance economy & inflation will be in good shape by next year.

[Swaggs]

Originally Posted by Thomkal

Or you can see where it shows Trump leading the youth vote by a lot over Biden and you can laugh at the poll because there is no way that is real.



https://twitter.com/PalmerReport/sta...38259164155905

Yes. The cross tabs on this poll make it seem questionable, at best. I think and believe that Biden is unpopular, but the 2022 elections and some of the more recent special elections hold more weight to me than this poll.

[Swaggs]

Originally Posted by Galaril

So I have always liked and supported Biden and I too think Democrats have to get him to step down and not run again. But who do Dems want to run? I would like to see California’s Gavin Newsome or maybe Whitmer from Michigan but fear many on the Left would view them as too moderate LOL.

I agree with you. I have always liked Biden, but this version of him (even if he is still largely competent, he is clearly not at his peak) is not ideal and the thought of him serving as POTUS in his mid-80s just doesn't seem right, for a lot of reasons.

I don't know the answer, but the question is what about Kamala Harris? I don't think she is electable right now, but she would have to show otherworld humility and be the one to make the call to not be next in line. Otherwise, the message is that the first black lady and first female to be elected on a presidential ticket, at age ~60, is not an option to be the Dem's candidate and that is going to alienate a good portion of the base.

[JPhillips]

Originally Posted by Galaril

So I have always liked and supported Biden and I too think Democrats have to get him to step down and not run again. But who do Dems want to run? I would like to see California’s Gavin Newsome or maybe Whitmer from Michigan but fear many on the Left would view them as too moderate LOL.

Pritzker the Great Khan is the only choice to unify the nation.

[GrantDawg]

Originally Posted by Edward64

It is a long ways off and fair chance economy & inflation will be in good shape by next year.

I think there is a good chance we will be in an official recession by next year, all the while we are not going to see prices drop.

[Lathum]

Unless Harris steps down, she wont, or MAYBE a SC Seat opens up and give her that, it is ride or die with her. He can't replace her and not lose a key part of the electorate, especially if he replaces her with a white woman (Whitmer)

[Lathum]

Originally Posted by GrantDawg

I think there is a good chance we will be in an official recession by next year, all the while we are not going to see prices drop.

yeah, I don't see the economy improving by next years election and odds are it will be worse.