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Thread: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

  1. #21
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    Re: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

    Quote Originally Posted by Deuce View Post
    That's your idea of corruption, eh? Loans. Loans at a good rate are corruption.
    I bet you'd say exactly the opposite if there was an (R) in the White House.
    Let's use simple math kids to see the corruption!!!

    54,000,000 at 3% interest rate = 1,620,000!

    54,000,000 at 1.5% interest rate = 810,000!

    And that's just a basic look see for ease. How it would all translate over the course of the loan is for those more interest rate inclined among us. I just pulled numbers out for example, since we don't know in this case. If the loan is at market rates then... well what do I know.

    And can they right off this project in their taxes? It is after all a "community project"


    But the point still stands, if the loan is at a lower rate then market, the Casino is saving potentially millions in interest rates at the expense of small towns across America and the US Tax Payer.

    But what do you care? The Senator in Question has a -D
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

    I went to a loan site, that allowed me to do a 30 year, 10,000,000 loan at 3%

    The payments came to, for jsut 50 million (for ease of MY math) $7,588,872

    For a 1.5% was 3,794,436.

    So that's like 3.9 MILLION saved over a 30 year loan.

    I guess when it's tax payer money, that doesn't count in your mind.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

    Quote Originally Posted by MrVicchio View Post
    I went to a loan site, that allowed me to do a 30 year, 10,000,000 loan at 3%

    The payments came to, for jsut 50 million (for ease of MY math) $7,588,872

    For a 1.5% was 3,794,436.

    So that's like 3.9 MILLION saved over a 30 year loan.

    I guess when it's tax payer money, that doesn't count in your mind.
    Stop and think for a minute

    Who is doing the lending, the government, who collects the interest the government. Provided the government can get the money at a cost lower then what it is lending it out at it is making money on the loan. Ergo the loan does not cost any taxpayer money. In fact it could make the taxpayer money, golly gee a good program that benifits the taxpayer rather then hurts them
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    Re: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

    Quote Originally Posted by Lord Tammerlain View Post
    Stop and think for a minute

    Who is doing the lending, the government, who collects the interest the government. Provided the government can get the money at a cost lower then what it is lending it out at it is making money on the loan. Ergo the loan does not cost any taxpayer money. In fact it could make the taxpayer money, golly gee a good program that benifits the taxpayer rather then hurts them


    Is that your final answer?



    Seriously, you think the Gov't giving loans out... is a good idea? And you don't see the problem with politicians have the power to "help" certain groups get these fantastic low cost loans?

    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

    Quote Originally Posted by MrVicchio View Post


    Is that your final answer?



    Seriously, you think the Gov't giving loans out... is a good idea? And you don't see the problem with politicians have the power to "help" certain groups get these fantastic low cost loans?

    Generally no, governments should not be in the banking industry.

    Which does not change the fact that the government could very well profit from this deal
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    Re: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

    Quote Originally Posted by Lord Tammerlain View Post
    Generally no, governments should not be in the banking industry.

    Which does not change the fact that the government could very well profit from this deal

    So that "makes it right"? And how much can they write off as a tax break? I'll bet ya money most of that interest.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

    Quote Originally Posted by Lord Tammerlain View Post
    Generally no, governments should not be in the banking industry.

    Which does not change the fact that the government could very well profit from this deal
    Oi!

    I'll be nice and just say that the SCOTUS has ruled in several ways - all confirming that Congress has been granted supremacy over money issues (Via the Constitution) and can operate it's own *bank* - and thus can make loans however it sees fit.

    That being said - I see routine lobbying going on with the Tribe - nothing new for Washington to give into and nothing new for people to be driving around in.

    I agree with Glinda - this raises serious curiosity about the Tribe's actual ability to run a damn business.
    Quote Originally Posted by Glinda
    Beyond this, can anyone explain to me how this tribe is "unable to obtain other credit at reasonable rates and terms and are unable to finance the proposed project from their own resources?"
    Last edited by Aunt Spiker; 06-28-10 at 12:46 AM.
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    Re: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

    Quote Originally Posted by MrVicchio View Post
    So that "makes it right"? And how much can they write off as a tax break? I'll bet ya money most of that interest.
    Doesnt make it wrong (as in corrupt) either.

    This should not end up costing the taxpayer anything, meaning you are out nothing by from this
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    Re: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

    Quote Originally Posted by Lord Tammerlain View Post
    Doesnt make it wrong (as in corrupt) either.

    This should not end up costing the taxpayer anything, meaning you are out nothing by from this
    And the towns that need that money and get told there is none... Oh what the hell do you care? The Gov't did something as a political payoff, but a liberal did it, so you don't care, you'll find ways to rationalize the stench of wrong doing because it fits your political idealogy. At least Glinda for example, sees this and goes "Bull****s alert"
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  10. #30
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    Re: Mohegan Sun Casino Owners Received $54 Million In Stimulus Money

    Quote Originally Posted by Glinda View Post
    My questions remain:

    Why do the Mohegans get this loan, when they do not constitute even a tiny portion of the whole of their community/town?

    Given their massive annual profits, why can't the Mohegans obtain credit at reasonable rates and terms through the usual channels? If no one will reasonably lend to them, it would seem to indicate a significant credit risk, wouldn't you think?

    Given their massive annual profits, why don't the Mohegans finance projects with their own resources? There are surely thousands of other communities that need more stimulus help than this very wealthy Indian tribe.

    Hinkey.
    many businesses can't get credit these days, or if they can, the rates are extremely high. banks don't really want to lend.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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