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Author Topic: U.S. Commerce Chief To Federal Workers: Get A Loan  (Read 2163 times)

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Offline edpc

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U.S. Commerce Chief To Federal Workers: Get A Loan
« on: January 24, 2019, 04:16:13 pm »
WASHINGTON (REUTERS) - Workers affected by the government shutdown should seek loans to pay their bills and financial institutions should make credit available, U.S. Commerce Secretary Wilbur Ross said on Thursday as employees were poised to miss their second paycheck.

In an interview on CNBC, Ross said it was "disappointing" that some federal workers were not showing up to work and that "there really is not a good excuse" for affected workers to not have money.

"The banks and the credit unions should be making credit available to them," said Ross, a billionaire investor. He noted the government had committed to give federal employees back pay, adding "there really is not a good excuse why there really should be a liquidity crisis."

https://money.usnews.com/investing/news/articles/2019-01-24/us-commerce-chief-says-banks-credit-unions-should-help-amid-shutdown-cnbc
« Last Edit: January 24, 2019, 04:17:50 pm by edpc »
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Offline edpc

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Re: U.S. Commerce Chief to Federal Workers: Get a Loan
« Reply #1 on: January 24, 2019, 04:17:10 pm »
"True, the people might have to pay a little bit of interest. But the idea that it's paycheck or zero is not a really valid idea," Ross said. "They are eventually going to be paid."


Lending institutions generally want to know how much for how long. Care to answer that, Wilbur?
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Offline dfwgator

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Re: U.S. Commerce Chief to Federal Workers: Get a Loan
« Reply #2 on: January 24, 2019, 04:20:28 pm »
Quote from: edpc on January 24, 2019, 04:17:10 pm
"True, the people might have to pay a little bit of interest. But the idea that it's paycheck or zero is not a really valid idea," Ross said. "They are eventually going to be paid."


Lending institutions generally want to know how much for how long. Care to answer that, Wilbur?



Got a Prison Record, we don't care.
Don't have a job, we don't care.

Don't expect to pay us,  THAT'S when we care!
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Offline skeeter

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #3 on: January 24, 2019, 04:21:07 pm »
I guess the alternative is just file for bankruptcy protection.
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Offline kevindavis007

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #4 on: January 24, 2019, 04:34:57 pm »
I'm pretty sure the payday loan sharks and the title loan sharks are making a killing.
« Last Edit: January 24, 2019, 04:43:55 pm by kevindavis »
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Offline edpc

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #5 on: January 24, 2019, 04:39:53 pm »
Quote from: kevindavis on January 24, 2019, 04:34:57 pm
I'm pretty sure the payday loan sharks and the tilte loan sharks are making a killing.


Most of these people are likely federal credit union members, but they have no idea how much to borrow, since there’s been no progress on negotiations. It’s kind of a tone deaf remark by Ross.
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Offline kevindavis007

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #6 on: January 24, 2019, 04:44:51 pm »
Quote from: edpc on January 24, 2019, 04:39:53 pm

Most of these people are likely federal credit union members, but they have no idea how much to borrow, since there’s been no progress on negotiations. It’s kind of a tone deaf remark by Ross.


It is a huge tone deaf remark by Ross.
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Offline edpc

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #7 on: January 24, 2019, 04:48:17 pm »
Quote from: kevindavis on January 24, 2019, 04:44:51 pm
It is a huge tone deaf remark by Ross.


Rudy is happy he’s not the only Trump representative out there saying dumb things.
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Offline kevindavis007

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #8 on: January 24, 2019, 04:53:56 pm »
Quote from: edpc on January 24, 2019, 04:48:17 pm

Rudy is happy he’s not the only Trump representative out there saying dumb things.


So far..
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Offline Restored

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #9 on: January 24, 2019, 05:03:35 pm »
Quote from: kevindavis on January 24, 2019, 04:44:51 pm

It is a huge tone deaf remark by Ross.

He wasn't rendering an opinion. He was stating a fact.
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Offline kevindavis007

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #10 on: January 24, 2019, 05:08:41 pm »
Quote from: Restored on January 24, 2019, 05:03:35 pm
He wasn't rendering an opinion. He was stating a fact.


It was stupid. The workers shouldn't suffer cause the Great Negotiator couldn't get a wall that Mexico that was supposed to pay for.
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Offline edpc

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #11 on: January 24, 2019, 05:16:33 pm »
Quote from: Restored on January 24, 2019, 05:03:35 pm
He wasn't rendering an opinion. He was stating a fact.


Go to your lending institution. Tell them your boss is guaranteeing your back pay, but not paying you now, so you need a loan. When they ask you for how long, say you don’t know...my boss said maybe months or years. See if you aren’t laughed out of the building.
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Offline dfwgator

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #12 on: January 24, 2019, 05:21:47 pm »
Quote from: edpc on January 24, 2019, 05:16:33 pm

Go to your lending institution. Tell them your boss is guaranteeing your back pay, but not paying you now, so you need a loan. When they ask you for how long, say you don’t know...my boss said maybe months or years. See if you aren’t laughed out of the building.

As long as you're white, it's not a problem.....



"What a silly negro!"
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Offline skeeter

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #13 on: January 24, 2019, 05:23:57 pm »
Quote from: edpc on January 24, 2019, 05:16:33 pm

Go to your lending institution. Tell them your boss is guaranteeing your back pay, but not paying you now, so you need a loan. When they ask you for how long, say you don’t know...my boss said maybe months or years. See if you aren’t laughed out of the building.

Then go back in and tell them your boss is Uncle Sam.
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Offline Jazzhead

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #14 on: January 24, 2019, 05:24:09 pm »
Quote from: edpc on January 24, 2019, 04:48:17 pm

Rudy is happy he’s not the only Trump representative out there saying dumb things.

It's not a dumb thing to say.   It's common sense - get a loan before quitting your job in a fit of pique or unjustified fear.    The government has already committed to providing back pay when funding is restored.   Get a six-month loan and if the shutdown is settled before then,  pre-pay.   
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Online mystery-ak

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #15 on: January 24, 2019, 05:26:00 pm »
Quote from: kevindavis on January 24, 2019, 04:44:51 pm

It is a huge tone deaf remark by Ross.

Yeah he needs to STFU along with Rudy
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Offline montanajoe

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #16 on: January 24, 2019, 07:41:56 pm »
Another out of touch rich guy....

Probably the majority of his employees in the Census Bureau are intermittent employees who have no work and because they are intermittent will not receive back pay. Probably 70% of them are low income geezers and Vets trying to make a few bucks to supplement their SS and pay their medicare and out of pocket medical  and drug expenses...

For them getting a loan makes no sense...how are they going to pay it back... :shrug:
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Online mystery-ak

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #17 on: January 24, 2019, 08:11:27 pm »
Pelosi hammers Ross for ‘let them eat cake’ moment
https://thehill.com/homenews/house/426836-pelosi-hammers-ross-for-let-them-eat-cake-moment
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Offline edpc

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #18 on: January 24, 2019, 10:06:16 pm »
“While I feel sorry for the individuals that have hardship cases, 800,000 workers, if they never got their pay—which is not the case, they will eventually get it—if they never got it, you’re talking about a third of a percent in our GDP, which is not a gigantic number overall,” Ross told CNBC.


They’re going to get paid, but even if they didn’t, it wouldn’t be a big deal….. :thud:
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Offline Night Hides Not

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #19 on: January 25, 2019, 02:10:47 am »
Quote from: kevindavis on January 24, 2019, 04:44:51 pm

It is a huge tone deaf remark by Ross.

Wilbur will play Scrooge in the next iteration of “A Christmas Carol.”
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Online corbe

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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #20 on: January 25, 2019, 02:15:29 am »
   Look on the bright side, Trump didn't tweet something stupid about this, prolonging the agonizing of this incredibly insensitive statement.
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Re: U.S. Commerce Chief To Federal Workers: Get A Loan
« Reply #21 on: January 25, 2019, 02:20:57 am »
When the economy crashed in 2007 millions of people in the private sector lost their jobs nearly overnight.

The federal government and many state government workers partied on like nothing ever happened. No cuts for them. Much of the bail out money went to states like California to keep the state workers unhindered by what the rest of the people were going through.

Perhaps federal and state workers should feel a little of what goes on in the rest of the country from time to time.
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