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Joined 1 year ago
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Cake day: August 20th, 2023

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  • Doctors are paid more, but still a small slice of healthcare costs. Doctors in the US working entirely for free would barely make a dent. All administrative costs, including doctors and nurses salaries, but also our bloated health care administration, add up to 8%. A lot of the extra administration costs are also things like all the staff needed just to interface with the giant mess of different payers including multiple private and government programs, all with different documentation and billing requirements.

    The insurance companies, pharmaceutical companies, medical device and equipment companies, and private equity owners of hospitals and practices who are all reaping windfall profits at the expense of patients love to direct the blame to doctors though.






  • Creditors aren’t dumb, no way they’re going to accept this as a collateral. Even if they did have the ability to sell if needed (they don’t, it’s illiquid at the moment), unwinding $450 million in shares is going to take some time, and the sale itself is large enough it would affect the stock price itself. There’d be no good way of knowing how much stock you’d have to hold in the account to ensure that $450 million in cash could be extracted from it if needed.

    This isn’t just some small personal account with a line of credit that the creditor can make a maintenance/margin call on to ensure a certain collateral balance is maintained. This is a substantial percentage of the market cap of one single company with an extremely volatile stock based on near zero fundamentals, in a position that likely can’t be unwound without tanking its own value.

    Most likely thing Trump does in reality is work with a bank (who will accept real estate as collateral, unlike the bond companies) to get a letter of credit from a bank, and then bring the letter of credit to the bond company. This whole dog and pony show of “I can’t pay” is probably fake to try and see if he can convince the courts to delay his payment. Unless he truly does have no real equity in his properties like some people say. Or banks really are done with him. Will be interesting to hear what the independent court appointed monitor thinks about all of this. I wouldn’t be surprised though if Monday just before seizures could start Trump’s lawyers are like, jk we put these properties up as collateral like we could have done at any time in actuality, for a letter of credit, and used that to secure a bond. Rather than let NY state take control of them. I hope they do get seized by New York though.


  • What’s actually being traded right now is a small portion of the actual shares that will make up the new merged company. This dollar amount assumes that trump would be able to sell 60% of all stock in the company (which is much more than is available to trading right now), without sending the stock price right into the ground. That’s just not going to happen.

    This lockup period prevents him from selling for 6 months to prevent the share price from tanking just after the merger from insider selling, but the board could decide to remove that restriction so he could start offloading shares. Even if they don’t, when we get closer to lockup expiration I’m guessing the shares will likely begin tanking in anticipation of Trump doing this. He’d be dumb not to try and offload shares, the company is insanely overvalued.




  • It would delay things further unfortunately, but this is so egregiously wrong and in such a long list of mistakes and/or illegitimate moves meant to provide cover for Trump, I don’t think there’s any recourse but for Jack Smith to move to have her taken off the case. Even more when you consider her involvement prior to these charges when she got improperly involved with the search warrant bussiness before a higher court told her off and dismissed the whole thing. Shame she’s the one assigned to the strongest and least legally controversial criminal case against him.




  • The supreme court said no to the universal plan. The reasoning they cited was that congress did not intend for him to have the power to do that. Dubious reasoning or not, trying the same blanket loan forgiveness again is not going to work. And they were literally before the supreme court, do you honestly think they made “one argument?” There are hundreds of pages of arguments spanning multiple filings, not to mention the oral arguments. Get to reading:

    https://www.scotusblog.com/case-files/cases/biden-v-nebraska-2/

    And yes it is misinformation to pretend this was the one and only thing the Biden admin has done or attempted to do for student loans and ignore everything else that has been done. It’s misinformation to say there’s been “one executive order,” demonstrably very false.

    What the Biden admin is doing right now is exactly what you’re suggesting, seeing what kinds of forgiveness they might be able to get squeaked past the courts since the broad powers in the heroes act have been cut off by the court. The rules aren’t finalized so it’s not clear exactly how broad that new plan will be or what the criteria is. If they re-attempted the same thing with the same terms there’s no way it would stand with the court. If you just want hollow regulations passed that will never actually be implemented to pay lip service before a court strikes them down again, fine. I’d prefer things that will actually get through and have a chance to help people.

    And try and save at least a drop of vitriol for the Republicans who were the ones who stopped the plan in the first place.