Needing Cash, Veterans Sign Over Pensions

NY Times ^ | December 29, 2004 | DIANA B. HENRIQUES

[writer33]

This is almost like those car title loans where they jack the interest up because you need money.

[E. Pluribus Unum]

The implied subtext of all New York Times' stories about the military is: "It's all Bush's fault."

The NYT didn't publish stories like this when The Rapist was President.

[Khurkris]

Vet bump

[The Loan Arranger]

IT IS NOT A PENSION!!!! It is Military Retirement Retainer Pay! Just goes to show you that the NYT reporter doesn't know $hit from shinola.

[jackbill]

"If the sale of these assets is improper, why is it that the United States allows them to advertise on the Internet and in the military newspapers?" Mr. Grazi said.

The Army Times is not a military newspaper. It is a private, for profit newspaper.

[Feiny]

Exactly...and it is owned by leftists.

[LibertarianInExile]

Could someone please explain to me just one thing:

Why can't this guy or any other soldier do what the hell he wants with his money?

If I win the lottery and I want to take a lump sum instead of a yearly payout, I can. Surely it would be fair to allow any soldier to do the same. Heck, I would gladly take an advance check right now in exchange for a FULL release of all my future Social Security payments after I retire.

[Former Military Chick]

car loan is an understatement, this is down right sleazy.

[Hot Tabasco]

These practices and the people who perpetrate them are sickening.

The individuals who sign these contracts knowing full well what it is going to cost them deserve what they get. Kinda like me signing a $1500 per month mortgage note knowing that after about a year and a half i wont be able to make payments anymore. Or the gold brick who buys a new Cadillac and after a year defaults on the payments and continues to drive it until the repo man catches up with him...............

I also have absolutely no tolerance with our liberal bankruptsy laws that allow individuals to purchase half million dollar homes, buy new cars every 2 years and live the life of Riley until their debt catches up with them.. Meanwhile i'm still driving a 9 year old car, making my house payments and living the life Riley's poor neighbor.........

[Hot Tabasco]

"Retired Veteran" is nothing more than a sympathy garnering catch phrase. The financial status of a retired vet is nothing better or worse than the retirees from my plant with the exception of the better health care benefits that the vets have over my retirees.

Buyer Beware!

[dljordan]

"Meanwhile i'm still driving a 9 year old car, making my house payments and living the life Riley's poor neighbor........."

I know how you feel. I drive a 95' Jeep and pay off the credit card bill every month. We finally bought my wife a new car but paid cash and got a really good deal. I keep bitching about the mortgage so my wife printed out a credit report for our area. The average family here has $8000 in credit card debt and owes $200,000 on their home. I don't feel so bad now. Guess I'll just keep being a cheapskate.

[writer33]

It is sleazy. Unfortunately, these kinds of things always manage to slip through the cracks. One should know that signing away any future pension benefits is a bad thing. Period. Needing money or not.

[cooldown3]

May I presume you have not had the pleasure of "space available" health services yet then??
LOL boy oh boy, you got a surprise coming.

[Hildy]

I agree. First the government is telling us that we should be able to do what we want with our Social Security, because we're smart enough to know. So they don't think this kind of thing will ever happen. It's called FREE CHOICE.

[groanup]

"The individuals who sign these contracts knowing full well what it is going to cost them deserve what they get."

No they don't. Fraud is being committed.

[groanup]

"car loan is an understatement, this is down right sleazy."

It's fraud.

[groanup]

"IT IS NOT A PENSION!!!! It is Military Retirement Retainer Pay! Just goes to show you that the NYT reporter doesn't know $hit from shinola."

What's the difference.

[VNam68]

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