Lake Erie Conservative

thoughtful discussion(s) about issue(s)

Posts Tagged ‘law of unintended consequences’

… Maybe those Idiots Will Learn [#San Francisco bookstore closing]…

Posted by paulfromwloh on Wednesday,November 16th,2016

.. considering that it is Fantasyland by the Bay , I wonder ..

.. San Fran ‘ s very popular [and well known] Borderland Books is a symbol of small businesses in the Bay Area . The voters raised the minimum wage [yet again] , without thinking of the possible consequences to other people , including business and industry . They do no realize that it could really be a cost to jacking up the wage that high , that it will impact other people . Unfortunately , the voters did not do so …

.. [h/t — LegalInsurrection.com]..
.. [link] to the blog story // video clips …

.. Borderland has announced that it is closing , this year . The owner announced his closing and departure while he and his business are still popular and profitable . Hopefully , he will be able to get some [maybe even all] of his investment in his business back . Unfortunately , probably not …

.. sooner or later , the voters have to realize that there is a difference [ yet , a cost] to their votes , to their policy choices . Then , maybe they will think twice before making stupid choices like jacking up the minimum wage so high that it drives out business and industry from a metro area and / or a region …

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… Anyone wonder Why ?!?! [#His Lordship][#Economic Illiteracy]…

Posted by paulfromwloh on Wednesday,October 26th,2016

.. why POTUS is such a disaster as a so – called ” leader of the free world . ”

.. believe you me , that dunce cap on his head is very well earned …

branco cartoon (potus economic illiteracy)

.. [h/t — ComicallyIncorrect.com]..
.. [link] to the cartoon …

.. I wonder what grades Obama got in economics in college , or , whether he even took economics at all …

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… California and the Drought [#jerry brown]…

Posted by paulfromwloh on Tuesday,August 30th,2016

.. what must Gov. Moonbeam be thinking ?? ..

.. his idea of a solution is a drastic one : a mandatory 25% cut in water use by everyone statewide . Does he really think that such a drastic move is going to work ? .. I doubt it …

.. there are several elements of California ‘ s situation , ones that I will cover soon in other writings . But I will tell you this : What Jerry Brown is proposing is insane , and will not work ..

.. [h/t — HotAir.com]..
.. [link] to the blog article …

.. people will resist such draconian measures . So will businesses , other government agencies , and farms [agriculture] . Why ? …

.. unless you motivate them to change , it is simple : it is simple human nature to resist change …

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… Be Careeful What You Wish For [#$15 minimum wage]…

Posted by paulfromwloh on Monday,July 25th,2016

.. you might actually get it …

.. lest we forget , people tend to forget the Law of Unintended Consequences..

branco cartoon ($15 min wage)

.. [h/t — ComicallyIncorrect.com]..
.. [link] to the cartoon …

.. the activist want a raise . Well , they get it . So , the raise backfires in their face …

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… I have Heard of Cover Your Butts [#americans overseas]…

Posted by paulfromwloh on Thursday,April 7th,2016

.. but [pun intended] , does it mean putting a target on every American [at home , AND overseas] ‘ s butt ?!?! …

fernandez cartoon (CYA)

.. [h/t — tomfernandez28.com]..
.. [link] to the cartoon ..

.. this was not what any sane person would have in mind …

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… The Daily Signal whiffed on This One [#ObamaCrapCare]…

Posted by paulfromwloh on Wednesday,January 7th,2015

.. well , they did ..

.. now , the employer mandate finally takes effect ..

.. it will make carrying health insurance for employees a colossal and royal pain in the neck …

.. [h/t — DailySignal.com]..
.. [link] to the news article …

.. then , there is the expansion of the individual mandate …. that is , presuming , a 6 to 3 majority does not rip the [bleep] out of the heart of it in June when King v Burwell is decided by the US Supreme Court ….

.. if that happens , then POTUS is going to have to come to Congresss in order to get a ObamaCrapCare repair bill passed . as a result , Congress will have a strong bargaining position in order to get substantial changes to the whole damn mess if His Lordship wants to get a bill passed …

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… This is Only the Beginning [#exec amnesty fallout]…

Posted by paulfromwloh on Tuesday,November 25th,2014

.. in this clip , this illegal immigrant has just recently crossed over the border from Mexico into the U.S.A. ..

.. even though , technically , His Lordship ‘ s action would not apply to her …

.. [h/t — m.NationalReview.com]..
.. [link] to the blog news // video clip …

.. as I said before , this will be only the beginning . This abuse of power by POTUS will inspire others to come . They will believe that they will be covered by a future amnesty . Given our country ‘ s recent history , they would likely be proven right …

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… A New York City Tragedy [#eric garner]…

Posted by paulfromwloh on Friday,September 5th,2014

.. this was a needless death .

.. what was the N.Y.P.D. harassing a guy over untaxed cigarettes , especially with N.Y.C. ‘ s obscene level of cigarette taxation …

.. [h/t — NYDailyNews.com]..
.. [link] to the video ..

.. New York state ‘ s rate of cigarette taxes is bad enough . Then New York City loads it on on top of the state ‘ s very obscene cigarette tax rates . So , what did they expect to happen ? Nothing ? Duh ! …

.. haven’t those idiots studied economics , especially the Laws of Supply & Demand , of Human Nature , and the Law of Unintended Consequences . Those idiots have one rip – roaring black market going , and the N.Y.P.D. has more important things to do than attacking citizens over untaxed ciggies and what are known as ” loosies . ”

.. contrary to popular opinion and talking heads , the worst that I think that these folks are going to get is a manslaughter rap . Murder ?? No ! ….

.. no , I am not excusing the cop ‘ s misconduct . He used an unprofessional act [the chokehold ] . The use of the chokehold has been banned , and the cops participating should have damn well known better . They could have ” tased ” the guy to subdue him if they needed to …

… I have been tased , and trust me , it is not fun . I did it as a test when I was considering actually buying one . I wanted to understand what it was to be on the receiving end . If I was going to possess one of those things , then I felt the responsibility to the public to understand what I was doing ….

.. I obviously would not want to be shot in order to learn how to use a gun . But , before purchasing one , I will go to a gun range so that I know what it is to hold a weapon , to holster it , to care for it , and to shoot it . I think that it would be a common – sense maneuver before buying a gun …

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… the Wave may be Starting [#insurance rates]…

Posted by paulfromwloh on Friday,August 1st,2014

.. nice going , ObamaCrapCare …

.. and , amazingly , this is New York .

.. Guess what might be happening elsewhere …

.. [h/t — TruthRevolt]..
.. [link] to the blog news …

.. the dumb bells do not understand market economics . No matter how much they try to rig the market , the law of unintended consequences is coming back to give them a swift kick in the rear end …

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… Not a Big Shock [Employers dropping Health Insurance] …

Posted by paulfromwloh on Sunday,May 25th,2014

.. well , you can thank ObamaCrapCare for this .

.. not all of it , though .

.. with medical inflation still galloping along (contrary to the claims of the ObamaCraps and His Lordship) , employers have to do something . They are going to have to put with ObamaCrapCare for now , so , what happens …

.. [h/t — hotair]..
.. [link] to the blog post …

.. simple economics ! …

.. cost of providing health insurance , less …
.. OCC fine for employers ($2000 (oops)) , equals
.. bye – bye , health insurance …

.. hey , great , the employee gets a temporary boost in pay . The employer though , gets more cost certainty , because they and the employee know where that boost is going for , and why . Another dandy : That boost is taxable to the employee .

.. when the employer buys health insurance , they get to use before – tax dollars . It means that the cost of the insurance comes off of the employer ‘ s taxes as a cost of doing business . Not so for the employee . The employee has to use after – tax dollars …. Bummer ! …

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… These Cities should try Studying Constitutional Law [Richmond , CA ]

Posted by paulfromwloh on Thursday,September 12th,2013

.. it is abundantly obvious that by their actions , the city fathers of Richmond , California , have not . They have chosen to completely ignore California ‘ s constitution , as well as the U.S. Constitution .

.. These numbskulls want to intervene in a private proceeding : that being between a homeowner and their mortgage banker . The mortgage in question is what is called “underwater,” or that the value of the home is less than that of the relevant mortgage . What the city wants to do is seize it , take it away from the bank [forcing it to take a loss] , and work through another private party (with political connections , of course) to issue the homeowner a new mortgage at a reduced value , thus placing the mortgage possibly “above water.” The issuer would be the new holder , and would make a killing from the added interest , plus the added fees . nice stunt .

.. No , not so nice . These mortgages would not be “insured” into the secondary market , so that the issuer could get money to try to repeat the stunt . The city of Richmond obviously does not have the scratch , and is being used for its use of its eminent domain power . How gross of an abuse of power do you all think that this is ?

.. Big time . The banks are not all that popular , I will grant you that . That is for sure . They are considered people , and their investors are most certainly people . These folks have rights , and their constitutional rights have been damaged . The courts are real lunatic out there in CA , but they are not that loonie , at least that I would think . Also , the U.S. Supreme Court would come down on them , and hard . There is no way in hell that this action would stand .

.. from Bloomberg News …

Richmond Eminent Domain Plan Goes to Court Showdown

            By Karen Gullo –             Sep 12, 2013

BlackRock Inc. (BLK), Pacific Investment Management Co., DoubleLine Capital LP and other bondholders are asking a court to block a proposal by Richmond, California, to seize underwater mortgages through eminent domain.

With this week’s vote by Richmond’s city council to press ahead with an effort its mayor claims will help homeowners avoid foreclosure and fend off blight, the dispute between the northern California oil refinery town and Wall Street moved today to the federal courthouse in San Francisco.

U.S. District Judge Charles Breyer is hearing arguments from both sides on whether to order the city to halt efforts to use eminent domain to take over loans. He will also consider the city’s request to find that the bondholders went to court prematurely and dismiss their claims because the city council hasn’t approved the plan.

A ruling favoring bondholders, who sued the city through their bank trustees, would dissuade other cities from following in Richmond’s footsteps, said Dan Schechter, a law professor at Loyola Law School, Los Angeles. A decision for Richmond won’t encourage other municipalities to follow suit because it wouldn’t deal directly with the merits of bondholders’ claims that the Richmond plan is unconstitutional, he said.

“The court will hold that no injunctive relief is available at this time. That doesn’t mean the bondholders are without remedy,” Schechter said by phone. “If no injunction is issued, it would preserve the status quo.”

Troubled Mortgages

The city council voted at about 2 a.m. yesterday to move forward with a program to reduce the principal on troubled mortgages. Under the plan proposed by Steven Gluckstern’s Mortgage Resolution Partners LLC, the city would seize the loans and refinance them, providing borrowers with built-in equity, to avert foreclosures.

San Francisco-based Mortgage Resolution Partners would provide services and arrange for private investment funds that would profit by buying the loans for less than property values.

The company is shopping around the plan to several communities; Richmond is the only one to pursue the plan, City Manager Bill Lindsay told the council Sept. 10.

The city’s plan violates constitutional protections for private contracts, interstate commerce and the taking of private property for public use without just compensation, according to complaints filed by Wells Fargo & Co. (WFC), Deutsche Bank AG and Bank of New York Mellon Corp. (BK) on behalf of investors that hold bonds backed by the Richmond mortgages.

Banks’ Attorney

“If Richmond is allowed to proceed, other local governments would likely follow suit, with the result that losses across residential mortgage backed securities trusts and their investors would exceed billions of dollars,” Rocky Tsai, an attorney for the banks, said in a court filing.

The Wells Fargo lawsuit is “harassment,” and an injunction should be rejected because the city council hasn’t voted to use eminent domain, and even if it did, the banks could fight back in the court that will decide matters in the seizure proceeding, Scott Kronland, an attorney for the city, said in court filings.

“The parade of horribles the banks invoke are unfounded,”he said.

The cases are Wells Fargo Bank v. City of Richmond, 13-3663, and Bank of New York Mellon v. City of Richmond, 13-3664, U.S. District Court, Northern District of California (San Francisco).

To contact the reporter on this story: Karen Gullo in San Francisco at kgullo@bloomberg.net

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net

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