I knew a guy in the Navy that would sometimes resort to what he called "creative financing". When his money ran out before payday, he'd go to the Food Lion and cash a check for $10 (which he spent on a Subway Cold-Cut-Combo and a twelve-pack of beer) and keep the money. Then next day, he'd go to Albertson's and cash a check for $20, put $10 in his pocket (which he spent on a Subway Cold-Cut-Combo and a twelve-pack of beer) and deposit $10 in his account to cover the original check to Food Lion. The next day, he'd be back at Food Lion, writing a check for $30 - $10 for him (which he spent on a Subway Cold-Cut-Combo and a twelve-pack of beer) and $20 to put in the bank to cover the check to Albertson's.
It was insane, but it worked. All he had to do was keep cashing larger and larger checks until payday, when a new wave of cash would largely get swallowed by his short-term debt. Meanwhile, he had sandwich and beer money that he wouldn't otherwise have. After reading this article I kind of wonder if my friend wasn't a Burlington County Republican. Click on through to the other side.
"With inflation at its highest rate in 17 years, gas prices hovering near $4 per gallon, unemployment rising and a recession looming, or already here, why would these 20 individuals personally guarantee up to $30,000 in loans to the Burlington County GOP? The answer is because the dividends are enormous and the unsuspecting taxpayers of Burlington County are financing this scheme."
That's Rick Perr talking. In case you missed it - here's the video:
