Judge orders that $1 million be returned to dancer

[helosailor]

$65,000/year is upper C and lower B team money. A team money at the really high end clubs make WELL in to 6 figures. Obviously a lot of them are strung out, but those aren't as common in the classier places.

Yeah, I should have clarified. $65k/yr AFTER bills. In Cali, that would have to mean that she was well into 6-figure territory.

[Big A]

$65,000/year is upper C and lower B team money. A team money at the really high end clubs make WELL in to 6 figures. Obviously a lot of them are strung out, but those aren't as common in the classier places.

I think that it's plausible that she's earned enough to have saved a million of it, but she's a very rare bird to not have squandered a lot of it on extravagant living. I also think that anyone with that kind of money sense wouldn't be in that particular business, and if they were they would not be hoarding it all in cash, considering the undesirables that they are in constant contact with, that would take off with the cash in a heartbeat.

That aside, LEO has no grounds to keep any of it without proof of it's illegal origin.

[bcoop]

I think that it's plausible that she's earned enough to have saved a million of it, but she's a very rare bird to not have squandered a lot of it on extravagant living.

No argument there. I know a stripper that stacks it up and saves the bank she makes, but she's definitely the exception, and not the rule.


I'm getting from her name that she may possibly be Middle Eastern, and they can be some cheap bastards. Stereotypes exist for a reason.

[quikag]

Okay, I give up. Why don't you go look at their financials and let me know what you find? I'm sure I have that billion dollar funding deficit confused with something else.

Slow99, their outstanding investment managers will make up that deficit with investment gains no problem. Don't worry about it. Everything will be fine.


So, somewhat related question. You're in a long-term tax-free municipal bond fund and it's already taken a roughly 6% hit. Don't need the money anytime soon. Ride it out or is rising interest rates and probably other Detroits make it prudent to go ahead and get out and cut your losses?

[Nash B.]

Yeah, but he called me stupid.

Evidently breathtakingly stupid, stupid.

[snacksnack]

Who can save that much and still account for living expenses?

.

A single hot chick can, shes a stripper and knows how to use it and can get everything paid for by sugar daddys. Ive seen it done just not to this extent but hey its at least possible.

[Treybiz]

It isn't the norm i would guess but I do know a friend of an ex that lives in a nice paid for house in DFW, Drives a nice car, doesn't drink/ do drugs, lives simply, and saves her ass off. She did some internet nudes in addition to workin the pole and has a nice life to show for it.

(Doesn't hurt that she is/was hot as shit.. I tried very unsuccessfully for a 3-some on a few occasions).

[Machx2]

My old friends ex-wife was a stripper. She wasn't that great looking and would pull 800-1k a night. She also had a poor attendance for work and did drugs. She also slept with her "clientele" when they would invite her to parties. I wonder why that marriage didn't work.

[helosailor]

No argument there. I know a stripper that stacks it up and saves the bank she makes, but she's definitely the exception, and not the rule.


I'm getting from her name that she may possibly be Middle Eastern, and they can be some cheap bastards. Stereotypes exist for a reason.

Everyone I found with the same name was of Indian (call-center, not casino) heritage. But yeah, they tend to be pretty frugal too.

[Vertnut]

In another life, a long time ago ('79/'80), a couple of "nice dancing girls" lived down the hall from me. They were making $200-$250 a night in cash, when I was making about $400 a week. I don't know what strippers make now, but they were living a helluva lot better than I was.

[bcoop]

A single hot chick can, shes a stripper and knows how to use it and can get everything paid for by sugar daddys. Ive seen it done just not to this extent but hey its at least possible.

Exactly. Most of those strippers don't pay for a damn thing themselves. Rent, car, etc is all paid for by a regular or regulars.

[slow99]

Slow99, their outstanding investment managers will make up that deficit with investment gains no problem. Don't worry about it. Everything will be fine.


So, somewhat related question. You're in a long-term tax-free municipal bond fund and it's already taken a roughly 6% hit. Don't need the money anytime soon. Ride it out or is rising interest rates and probably other Detroits make it prudent to go ahead and get out and cut your losses?

I'd get out, just my opinion. I am pitching right now for us to reduce our muni exposure across the board in all portfolios. The muni markets didn't react that negatively to Detroit and I think there are a lot more shoes to drop. If the series of rulings progress and judges declare that GO payments are no longer "guaranteed" by law, yield spreads will spike to reflect that.

[quikag]

I'd get out, just my opinion. I am pitching right now for us to reduce our muni exposure across the board in all portfolios. The muni markets didn't react that negatively to Detroit and I think there are a lot more shoes to drop. If the series of rulings progress and judges declare that GO payments are no longer "guaranteed" by law, yield spreads will spike to reflect that.

Yep, that makes sense, but I guess the reason I haven't dumped my long muni exposure is I think based on how Detroit goes, other municipalities that are at risk (ton of CA cities, Chicago, etc.) with massive unfunded obligations will be able to negotiate deals with the different unions and employee groups to reduce some of the risk. My current strategy is to continue to dollar cost average weekly into the long tax-free bond fund and start lowering my average cost basis in the hopes it comes back up in the next several years.

However, it's stressing me out a little bit because I have little faith in how many local and state governments are run (not to mention our federal govt) and the long-term stability of muni bonds are probably more questionable now. Then, factor in eventual rising interest rates and bleh....Problem is, where I would put the cash is in a nearly zero yield money market. Better than losing money, but not exciting at all either as purchasing power is being lost.

So, I would either be screwed by staying in and riding it down big time or a genius in several years when I make a killing when the values go back up and I've been collecting tax-free current income throughout it all.

Maybe the fact I'm worrying about it all means I should just dump it. I'm not down that much in absolute dollars so far.

[Forever_frost]

Explain this to the IRS....


Oh, and for all of you people out there that can't see past your hood.......

So this was a "lifetime savings"?

How long did it take her to amass this money? Twenty to thirty years? Again let us look at the cash. Was was the denominations? We all know that 20's have a limited life span. Was the bills dated from the 80's to present? That would show an accumulation. If all the bills were from the early 2000's to present, that might shoot a hole in her theory.....

Jus sayin'....

Were any of these officers IRS agents? If not, they had no right to touch her money. I'm sure you'd be okay with State Troopers confiscating your property because it had "drug residue" on it and making you fight them in court to get it back, right?

[Forever_frost]

Actually it's looking pretty good, thanks for asking.

So far if there were no changes and I left with my current contribution status, I'd be earning over $76,000/year retired! Chooooo chooooooo!!!!

Eh, less than me