Anonymous
Post 07/12/2018 20:28     Subject: Kavanaugh's finances
Does his wife come from money?
Anonymous
Post 07/12/2018 20:26     Subject: Kavanaugh's finances
If more assets are held in his wife’s name, does he have to disclose?
Anonymous
Post 07/12/2018 20:18     Subject: Kavanaugh's finances
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:They are probably members at Columbia CC too. Private school, 800,000 mortgage, expensive renovation etc. It all adds up. Lots of “wealthy” people live paycheck to paycheck here.

Their mortgage is insane at their income level. Especially since he should have been able buy before prices rose sky high. I’m guessing the home is like an [b]atm.


This. Said he has refinanced twice. You know that means he probably took cash out.



The interest rates dropped quite a bit between 2000 and present. Tons of people refinanced then, He probably took advantage as he should. That probably reset the term of the loan so he was back to paying a lot of the initial interest.


Between 2006 and present., I meant.
Anonymous
Post 07/12/2018 20:17     Subject: Kavanaugh's finances
Anonymous wrote:
Anonymous wrote:They are probably members at Columbia CC too. Private school, 800,000 mortgage, expensive renovation etc. It all adds up. Lots of “wealthy” people live paycheck to paycheck here.

Their mortgage is insane at their income level. Especially since he should have been able buy before prices rose sky high. I’m guessing the home is like an [b]atm.


This. Said he has refinanced twice. You know that means he probably took cash out.



The interest rates dropped quite a bit between 2000 and present. Tons of people refinanced then, He probably took advantage as he should. That probably reset the term of the loan so he was back to paying a lot of the initial interest.
Anonymous
Post 07/12/2018 17:11     Subject: Re:Kavanaugh's finances
Anonymous wrote:Everyone in this thread is so dumb that it is not funny.

As an immigrant, what this man has done is nothing but admirable. He went to Yale for BA and JD and he could have made boat load of money but he rather devotes his life to public service.

My company CEO graduated with BA and JD from Harvard and his total compensation was 4.5M last year and has been 4M+ for the past five years.

With Kavanaugh's pedigree and connection from his days working in the white house, I am sure he will make at least 4M/year if he chooses to but yet you do not define success by wealth. He definitely gets my respect.

You also know that his wife was a personal assistant to former President Bush for many years. If she wanted to, she could have a very cushy job making at least 1M just from that connection but they chose not to. Even more respect to them both.


A federal judgeship is hugely prestigious and desireable. Not really a sacrifice. He's not working in the public defender's office.
Anonymous
Post 07/12/2018 17:08     Subject: Kavanaugh's finances
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:With his track record, he could very quickly start earning $$$ in the private sector if he chose to do so. I'm not sure how worried I'd be about my finances if I had that kind of outside option.


+1

If he really needed money, he could go to the private sector and instantly double, or triple(?), his income overnight. If he socked away the difference, he would be all caught up in a few years based on DCUM standards.

Plus, he could ask his wife to get a better paying job and she could easily double or triple her income. Some people want to enjoy life as they go through it. Looks like he's made some choices that allow his family to do that - good for him.


Are you sure about this?? He has CREDIT CARD debt or did. Seems stressful.


Or he just uses credit cards for living expenses or a large debt people paid him back for. There's no evidence that he has sustained large credit card debt. He had a large credit card balance at some point. I have $15k on credit cards right now and zero credit card debt that will carry over the month



Is this really how credit reporting works for credit cards? I thought it was only reported if it’s a balance past 30 days. In other words if I charge $100 today it doesn’t show up on my credit report until I receive a bill and don’t pay the $100 in full and start paying interest for it.



No, it’s all reported. Doesn’t need to be 30+ days. It should show the most recent billing statement balance, typically. A balance showing on a credit report absolutely does not mean a carried balance that person is paying interest on.

https://www.experian.com/blogs/ask-experian/how-long-it-takes-for-0-balance-to-show-in-your-report/
Anonymous
Post 07/12/2018 16:48     Subject: Kavanaugh's finances
Anonymous wrote:They are probably members at Columbia CC too. Private school, 800,000 mortgage, expensive renovation etc. It all adds up. Lots of “wealthy” people live paycheck to paycheck here.

Their mortgage is insane at their income level. Especially since he should have been able buy before prices rose sky high. I’m guessing the home is like an [b]atm.


This. Said he has refinanced twice. You know that means he probably took cash out.

Anonymous
Post 07/12/2018 16:46     Subject: Kavanaugh's finances
They are probably members at Columbia CC too. Private school, 800,000 mortgage, expensive renovation etc. It all adds up. Lots of “wealthy” people live paycheck to paycheck here.

Their mortgage is insane at their income level. Especially since he should have been able buy before prices rose sky high. I’m guessing the home is like an atm.
Anonymous
Post 07/12/2018 16:45     Subject: Kavanaugh's finances
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Where are the reports that he tapped into his retirement fund to pay off his debts? I haven’t seen that anywhere.


The Washington post story for one.


Do you have any objective sources?


If the opposite was true and that he had an 820 credit score there wouldn't be a story about his financial responsibility. They are just throwing darts blindfolded to see if they can get something to stick.


That is a tsp loan. He likely borrowed in connection with the purchase of his house in 2006. Not to pay off debts.
Anonymous
Post 07/12/2018 16:45     Subject: Kavanaugh's finances
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Look, I very much dislike Kavanaugh's politics (as an aside let's please dispense with the notion that judges aren't political), but this kind of personal finance mismanagement (while personally embarrassing and really kind of pathetic) in no way affects his qualification or character to sit on the bench. The people talking about bar discipline for character & fitness or security clearances are a bit much.

That said, it is really pathetic for a 50+ year old with these incomes to have such poor finances. Funny that the conservative "old soul" (as I've seen him described in the press) is really stretched so thin on credit card debt and very little savings.


I know this is a generalization but All of the conservatives that I know in real life are stressed financially and stretched thin. Many of them have great jobs but they just “have” to have a certain car, a certain type of house, just generally a higher standard of living than what they can actually afford. Then they get really frustrated about taxes. It is a definite pattern that I have noticed.


Please - what a silly generalization.


Show me a very wealthy person and the chances that they are a conservative is much greater than the population as a whole.



Not really. There are a lot of wealthy liberals. What I am saying is that of the people I know who are unwisely stretching themselves financially for no real reason (I.e. no medical debt etc.) almost across the board are conservative. There may well be tons of wealthy conservatives- both can be true.
Anonymous
Post 07/12/2018 16:25     Subject: Kavanaugh's finances
Anonymous wrote:
Anonymous wrote:Where are the reports that he tapped into his retirement fund to pay off his debts? I haven’t seen that anywhere.


The Washington post story for one.


Do you have any objective sources?


If the opposite was true and that he had an 820 credit score there wouldn't be a story about his financial responsibility. They are just throwing darts blindfolded to see if they can get something to stick.
Anonymous
Post 07/12/2018 16:22     Subject: Kavanaugh's finances
Anonymous wrote:
Anonymous wrote:Look, I very much dislike Kavanaugh's politics (as an aside let's please dispense with the notion that judges aren't political), but this kind of personal finance mismanagement (while personally embarrassing and really kind of pathetic) in no way affects his qualification or character to sit on the bench. The people talking about bar discipline for character & fitness or security clearances are a bit much.

That said, it is really pathetic for a 50+ year old with these incomes to have such poor finances. Funny that the conservative "old soul" (as I've seen him described in the press) is really stretched so thin on credit card debt and very little savings.


I know this is a generalization but All of the conservatives that I know in real life are stressed financially and stretched thin. Many of them have great jobs but they just “have” to have a certain car, a certain type of house, just generally a higher standard of living than what they can actually afford. Then they get really frustrated about taxes. It is a definite pattern that I have noticed.


Please - what a silly generalization.


Show me a very wealthy person and the chances that they are a conservative is much greater than the population as a whole.

Anonymous
Post 07/12/2018 16:11     Subject: Re:Kavanaugh's finances
Anonymous wrote:Everyone in this thread is so dumb that it is not funny.

As an immigrant, what this man has done is nothing but admirable. He went to Yale for BA and JD and he could have made boat load of money but he rather devotes his life to public service.

My company CEO graduated with BA and JD from Harvard and his total compensation was 4.5M last year and has been 4M+ for the past five years.

With Kavanaugh's pedigree and connection from his days working in the white house, I am sure he will make at least 4M/year if he chooses to but yet you do not define success by wealth. He definitely gets my respect.

You also know that his wife was a personal assistant to former President Bush for many years. If she wanted to, she could have a very cushy job making at least 1M just from that connection but they chose not to. Even more respect to them both.


What does your immigration status have to do with anything?
Anonymous
Post 07/12/2018 16:10     Subject: Kavanaugh's finances
It’s reallt not surprising at all. Almost all of his friends and people he considers his peers are making seven figure salaries at law firms. Just to be able to hang out in the same circles as them, he’s got to be spending what he makes. And really, it’s hard to say that’s a bad idea—it’s those connections that have now helped push him to the very top of his field.
Anonymous
Post 07/12/2018 16:07     Subject: Kavanaugh's finances
If the tsp loan has been there since 2006, it was likely in connection with his home purchase. They can be paid over 1-15 years.

We don’t know how he would have done in private practice had he stayed and we don’t know that his wife was all that marketable even though she worked for President Bush. He is no martyr for th public good.

I am not a fan of the judge, and absolutely detest our current President, but this character attack is ridiculous.