Author Topic: Would you trust Supreme Court justice that racked up $200K in credit card debt?  (Read 3081 times)

swampwiz

  • Bristles
  • ***
  • Posts: 451
« Last Edit: July 11, 2018, 08:14:43 PM by swampwiz »

sokoloff

  • Handlebar Stache
  • *****
  • Posts: 1195
The Nats are MLB, not NBA.

I care about his judicial record and philosophies, not so much about his FICO score.

swampwiz

  • Bristles
  • ***
  • Posts: 451

nessness

  • Bristles
  • ***
  • Posts: 303
Meh. It may have been closer to $60k, and he got it paid off (or below reporting requirements) by the following year.

I mean, I don't trust the guy, but his debt isn't in the top ten reasons why.

obstinate

  • Pencil Stache
  • ****
  • Posts: 842
OK, I don't like this guy, but. If you do a group-buy of good season tickets for say eight people, that could easily run you a few tens of thousands.

Lmoot

  • Pencil Stache
  • ****
  • Posts: 633
    • Journal
I was close to $50k in credit card debt at one point. I take home less than that per year. It was all 0% interest ranging in pay off periods of 12-24 months, and I'm at the last little bit to pay off. Never paid any interest. I consider myself a trustworthy person. Not saying whether I trust him or not, just saying if I didn't, it wouldn't be because of his debt.

With all of the credit card offers these days, and a credit card culture, if you have the income or the savings, it makes more sense to rack up credit card debt rather than throw down hard cash, until you have to. With that amount, even if you put it in a CD or high yields savings earning over 2%, the interest you earn is no chump change.
« Last Edit: July 11, 2018, 10:11:28 PM by Lmoot »

seattlecyclone

  • Magnum Stache
  • ******
  • Posts: 4496
  • Age: 34
  • Location: Seattle, WA
If I had a job I both enjoyed and couldn't be fired from without an act of Congress, I wouldn't worry too much about building up a big stash.

I'll probably disagree with a lot of his legal decisions, and would hope he recuses himself in a case involving Major League Baseball, but beyond that I don't see this as a huge issue.

Johnez

  • Pencil Stache
  • ****
  • Posts: 929
  • Location: Southern California
Who cares? Harping on this crap damages the actual arguments against him and distracts from the real issues. It's not like he pulled Marco Rubio's act-the guy obviously has the ability to pay off the cards and hasn't acted improperly.

jlcnuke

  • Pencil Stache
  • ****
  • Posts: 789

I care about his judicial record and philosophies, not so much about his FICO score.

This sums up my position fairly well. He's not being tapped for a job as a MMM role model, but as a Justice of the SCOTUS.

Rosy

  • Handlebar Stache
  • *****
  • Posts: 1819
  • Location: Florida
I'm surprised how willing everyone is to dismiss this. I think this is an important part of vetting any candidate for government office especially one that we will be stuck with for life.
Sure, $200K may mean nothing once you took a closer look at his finances but at least on the surface, $200K credit card debt tells me he has insufficient funds to pay off his credit card debt in full each month.

If there is a chance his finances may make him a target for corruption then I want to know the nitty-gritty details to be assured this guy is not sailing on the edge financially.

I care about his judicial record and philosophies, but in truth, what does it matter how great of a judge he would make if he is vulnerable to extortion and manipulation because he can't handle his monthly obligations?

ol1970

  • Stubble
  • **
  • Posts: 105
Gosh, I agree!  I mean hell Hillary bragged about how her and Bill were dead broke and in debt when they left the White House, Iím sure you didnít want somebody running our country that at 60 years old wasnít capable of being fiscally responsible. 

Jon Bon

  • Pencil Stache
  • ****
  • Posts: 514
  • Location: Midwest
Lol, where are all the firebrands and trolls? I expect better from the internets! That being said, according to what I read most SCOTUS picks have spent time in private practice getting really rich there.

So would I rather have an ivory tower big city trail lawyer, or guy who knows what its like to have a little consumer debt. Well that's easy. I obviously know nothing about his politics/ideology, but that is why we have a confirmation process I guess.

MDM

  • Walrus Stache
  • *******
  • Posts: 8688
See also https://forum.mrmoneymustache.com/antimustachian-wall-of-shame-and-comedy/our-spendy-new-supreme-court-justice/.

At one point he owed some amount between $60K and $200K (or, if one prefers NBC's version, $45K to $150K).  Then he paid all or most of it. 

Not sure how that qualifies or disqualifies him.

trollwithamustache

  • Pencil Stache
  • ****
  • Posts: 566
well, if the guy has big CC debts, he needs the Supreme court pension. Oh wait, he already has a federal judgeship pension coming his way.  that means he gets to do stuff like this.

Lmoot

  • Pencil Stache
  • ****
  • Posts: 633
    • Journal
I'm surprised how willing everyone is to dismiss this. I think this is an important part of vetting any candidate for government office especially one that we will be stuck with for life.
Sure, $200K may mean nothing once you took a closer look at his finances but at least on the surface, $200K credit card debt tells me he has insufficient funds to pay off his credit card debt in full each month.

If there is a chance his finances may make him a target for corruption then I want to know the nitty-gritty details to be assured this guy is not sailing on the edge financially.

I care about his judicial record and philosophies, but in truth, what does it matter how great of a judge he would make if he is vulnerable to extortion and manipulation because he can't handle his monthly obligations?

Itís not telling you that. Thatís your assumption. You almost cannot apply for a credit card today without getting a 12 month, 15 months, 18 months interest free offer. Itís par for the course these days.  Please see my example above how I was 50 K in credit card debt, on a lower middle-class income, and paid no interest. I may not have had that liquid, but I can get it if I needed to. I didnít need to.


StarBright

  • Pencil Stache
  • ****
  • Posts: 999
FWIW and for those that don't know, large consumer debt is one of the major red flags when you are applying for clearance. Big debts open the door for corruption. I actually had a coworker who couldn't get clearance because his debt ratio was too high.

While it likely won't make a difference to his appointment, it is perfectly normal that it is coming up. I've seen a lot of people saying that Dems are just trying to dig dirt but if I had to submit all my financial records to do government work (and I'm an absolute nobody) then I'm very glad that lifetime appointments to the highest court in the land are also scrutinized.

« Last Edit: July 12, 2018, 10:14:04 AM by StarBright »

Laserjet3051

  • Pencil Stache
  • ****
  • Posts: 530
  • Age: 90
When are we going to hear about the scandal that he wears different color socks? Or how about that he doesn't put the proper oil in his car?

Large CC purchases? Total nothingburger, try again.

dogboyslim

  • Bristles
  • ***
  • Posts: 361
When are we going to hear about the scandal that he wears different color socks? Or how about that he doesn't put the proper oil in his car?

Large CC purchases? Total nothingburger, try again.

[Sarcasm]Personally I'm waiting to hear what kind of chain lube he uses on his bike![/Sarcasm]

Proud Foot

  • Pencil Stache
  • ****
  • Posts: 925
Not a big deal at the face value. Could seem to come down to the timing of when he is required to file the reports as well. Season tickets for the Nationals ran anywhere from $15-$320 per game in 2015 (one of the years reported). Not too hard to fathom having to pay over $60k for season tickets when you are buying a group of tickets. Particularly if it is for a full season.

And how many here would take advantage of a 0% introductory rate for home improvements?

There is a whole lot more to be concerned about than this.

Chris22

  • Magnum Stache
  • ******
  • Posts: 3131
  • Location: Chicago NW Suburbs
Not a big deal at the face value. Could seem to come down to the timing of when he is required to file the reports as well. Season tickets for the Nationals ran anywhere from $15-$320 per game in 2015 (one of the years reported). Not too hard to fathom having to pay over $60k for season tickets when you are buying a group of tickets. Particularly if it is for a full season.

And how many here would take advantage of a 0% introductory rate for home improvements?

There is a whole lot more to be concerned about than this.

And those tickets have resale value.  Maybe he goes to 1/4 of the games, that way he can resell the other 3/4s and possible cover his costs.  Or give them as gifts to staffers, etc. 

ReadySetMillionaire

  • Pencil Stache
  • ****
  • Posts: 849
  • Location: The Buckeye State
This nothing-burger of a "story" being a controversy should be a pretty good indicator that Kavenaugh is going to get confirmed, and easily so.

Also, the most reasonable inference to me is that he probably fronted for a group of season tickets and then had people pay him back.  I do this with a friend for Indians games, and another friend does this for Yankees games (and then sells a bunch of tickets).

wageslave23

  • Stubble
  • **
  • Posts: 245
This nothing-burger of a "story" being a controversy should be a pretty good indicator that Kavenaugh is going to get confirmed, and easily so.

Also, the most reasonable inference to me is that he probably fronted for a group of season tickets and then had people pay him back.  I do this with a friend for Indians games, and another friend does this for Yankees games (and then sells a bunch of tickets).

Not sure if I'm more upset that this is even a controversy or that I took the time to respond to it, but yes I'm middle income and front the money for Cubs season tickets every year and then divide them up between 4 people and make good money reselling them.  To pay cash would be more of a red flag that he doesn't know how to manage money because of all the points he would be forfeiting.  If he had collection agencies hounding him for several years over hundreds of thousands of dollars in loans then it would be a different issue.

tooqk4u22

  • Handlebar Stache
  • *****
  • Posts: 2149
FWIW and for those that don't know, large consumer debt is one of the major red flags when you are applying for clearance. Big debts open the door for corruption. I actually had a coworker who couldn't get clearance because his debt ratio was too high.

While it likely won't make a difference to his appointment, it is perfectly normal that it is coming up. I've seen a lot of people saying that Dems are just trying to dig dirt but if I had to submit all my financial records to do government work (and I'm an absolute nobody) then I'm very glad that lifetime appointments to the highest court in the land are also scrutinized.

And it should be a concern/focus due to corruption, so no argument there.  But not all the facts and details are clear - for all we know it was a regular irresponsible debt on the high end or a large group purchase on the low end that happened on the last day of the reporting period and paid the next day from the group funds.

Not the same amount but I once put about $25k on a card for a group (had all cash in hand) but it had had to be paid with a card and I was the only one with the limit.   I guess I had a spending problem.

jlcnuke

  • Pencil Stache
  • ****
  • Posts: 789
well, if the guy has big CC debts, he needs the Supreme court pension. Oh wait, he already has a federal judgeship pension coming his way.  that means he gets to do stuff like this.

Except he doesn't have big CC debts, he had large balances for a short period of time (after large purchases for a group of people who reimbursed him for the expenditures over time) then paid them off. He currently has hardly any debt (pretty much just his mortgage) and around 6-figures in total assets by current estimates, plus a $200k+ salary. Sure, he could be saving a lot more if he wanted to FIRE, but with his pretty much guaranteed pension for life of 100% of his salary, retirement savings isn't really necessary if he's not planning on retiring early. If I had no desire to retire early I can tell you I wouldn't be saving at such a high rate.

swampwiz

  • Bristles
  • ***
  • Posts: 451
Not a big deal at the face value. Could seem to come down to the timing of when he is required to file the reports as well. Season tickets for the Nationals ran anywhere from $15-$320 per game in 2015 (one of the years reported). Not too hard to fathom having to pay over $60k for season tickets when you are buying a group of tickets. Particularly if it is for a full season.

And how many here would take advantage of a 0% introductory rate for home improvements?

There is a whole lot more to be concerned about than this.

Will he have time to do his day job while going to all those games?

Adam Zapple

  • Bristles
  • ***
  • Posts: 265
Golly and what about those big bats and didn't the players used to use steroids?  Something something what kind of judgement something something?

Lmoot

  • Pencil Stache
  • ****
  • Posts: 633
    • Journal
FWIW and for those that don't know, large consumer debt is one of the major red flags when you are applying for clearance. Big debts open the door for corruption. I actually had a coworker who couldn't get clearance because his debt ratio was too high.

While it likely won't make a difference to his appointment, it is perfectly normal that it is coming up. I've seen a lot of people saying that Dems are just trying to dig dirt but if I had to submit all my financial records to do government work (and I'm an absolute nobody) then I'm very glad that lifetime appointments to the highest court in the land are also scrutinized.

I'd imagine large consumer debt to only be a red flag if the net worth isn't enough to easily cover it. What's a couple hundred thou in debt if you're worth millions? That would be a silly thing to red-flag. I don't know this gentleman's financial background, but then again we don't have the facts. I say I'll reserve my judgement and let the people who are paid to find out the dirt, do the digging. There are enough people with access to all the facts, who want there to be red flags, to pull something up if they find it.

BobMueller

  • 5 O'Clock Shadow
  • *
  • Posts: 16
I predict the truth will come out that he was buying tickets for other people to get credit card rewards.

One

  • Stubble
  • **
  • Posts: 163
Not a fan but in his defense, maybe better to be in debt and cash poor rather than rich and bribed.

talltexan

  • Handlebar Stache
  • *****
  • Posts: 1954
The real scandal here is that--with the best pitching in baseball and their talented lineup--the Nationals couldn't even break .600 during the 2017 season. They should have been contending for a championship and barely won 97 games.