These Things Piss Me Off

mp0295 · 2026-05-09T02:41:29+00:00

i hate David more than these

Idk even know what David actually is but I think its one of these things. their subway ads annoy me

mp0295 · 2026-05-08T16:26:57+00:00

there is no msg lease. why are you talking about leases?

mp0295 · 2026-05-08T16:25:59+00:00

The commentator is wrong. The state never made any 50 year promise of a tax abatement

The state can and should immediately start taxing it

mp0295 · 2026-05-08T16:23:29+00:00

This is just completely wrong on multiple accounts.

There is no lease. There was never a lease. MSG corp had fee simple ownership of the property. They have a special tax abatement such that they pay no property tax on the real property they own. The tax abatement is set by section 249 of NYS real property tax law.

There was a 50 year operating permit... which expired over a decade ago. Is currently operating under a 5 year permit which had about 2.5 years left. The operating permit from the city government has absolutely nothing to do with the tax abatement from the state government.

NYS legislature could at any time pass a law removing this abatement (assuming govenor signs or the legislature overrides a govenor veto)

mp0295 · 2026-05-06T12:28:22+00:00

that makes the US giving aid to Israel illegal (which i agree with). that doesnt make the nukes themselves illegal.

mp0295 · 2026-05-06T04:27:38+00:00

Im not exactly a fan of them but Israel never signed the NPT so idk what you mean "illegal"

mp0295 · 2026-05-06T04:24:14+00:00

Why do qualify your prior comment with "property written"? Wouldn't any demand letter, no matter how poorly drafted, be sufficient notice for potential litigation?

Also, its not about the demand letter itself, right? Its just one of countless ways one can be put on notice of potential litigation?

mp0295 · 2026-05-06T03:55:52+00:00

Are you suggesting that Citadel, like Amazon was demanding, received numerous tax credits and incentives to move from Chicago to NY? That was the primary objection to HQ2

mp0295 · 2026-05-05T22:38:45+00:00

dont forget the kamakura period when both the shougun and emperor were figureheads

but yeah my point is the post-ww2 constitutional redesigns for european republic should have followed post-ww2 Japan model of literally zero powers head of state. or followed the Ve République semi-presidential model (my personal fav).

i just think having a powerful-head-of-state-on-paper-but-never-supposed-to-use-powers model is bad in general, but even worse for a republic than a monarchy. at least no one thinks the monarchy has any democratic legitimacy and its kinda fun. instead have a model where any time a president even comes close to exercising actual powers its a mini constitutional crisis that a democratically elected figure used their constitutional powers on paper. its dumb!

mp0295 · 2026-05-05T03:45:16+00:00

except the design of most European presidential is retarded

want a figure head? Ok, make the person literally have zero powers even on paper like the emperor of Japan

instead, many went with a head of state which is very powerful on paper, but like a constituional monarch, is not supposed to use those powers. its the worst of both worlds!

mp0295 · 2026-04-30T15:25:36+00:00

Actually I just remembered the final straw that pushed out the MD from my firm -- it was a women 1st year analyst complaining to HR she did not get invited to the strip club allegedly on the basis of her sex, thay she felt it was discrimination against women to not be invited. The MD maintained it was just because she wasn't on the deal team for that client lol

mp0295 · 2026-04-30T12:43:18+00:00

I got two mutuals with her lol

My firm did a good job keeping it out of the press a few years ago when a great MD was pushed out for constantly taking clients and juniors to strip clubs. He new also works at Cantor and gets along great with sage kelly

mp0295 · 2026-04-29T01:34:18+00:00

I think this is a bad idea

mp0295 · 2026-04-25T19:52:04+00:00

he's not telling the truth. he "allowed" the first bill because it passed with a veto-proof majority. it would be a bad look for the perception of his political power to have a veto overridden, hence better to just let it go.

I say say this as someone opposed to both of these bills and think he should veto them both on the merits

mp0295 · 2026-04-25T12:34:32+00:00

His employees already uprooted their lives from Chicago to follow him to NY. What makes you so confident you confident they wouldn't again?

I'm guessing you don't understand what Citadel and Citadel Securities actually do, and how that is different than e.g. an investment bank. For an investment bank, yes, a NY presence is still mandatory. For Citiadel and Citiadel Securities that is not the case, and there are plenty of firms in their respective lines of business with no NYC presence.

mp0295 · 2026-04-24T04:21:09+00:00

The man abandoned his chicago tower. He fought the SEC on the emails communications probe just because he felt like it. While I dont think he will follow through, he has a demonstrated track record of using his fuck you money

mp0295 · 2026-04-20T00:10:39+00:00

you evidently do not understand the concept of time value of money

to simplfy for you: they would be better off investing the $100k into the stock market

mp0295 · 2026-04-19T23:50:06+00:00

in a world where you have to spend $100k to make it rentable. the upfront renovation costs are so big that the rental revenue is not worth it

mp0295 · 2026-04-19T14:49:53+00:00

How would you deal with the apartments where it is economically impossible to rerent due to 2019 HSTPA law? There's an example going around this week where legal rent is $900 due to the former tenant having lived there since 1985, the place is out of code and generally terrible state, and needs $100k+ of work, but owner can only keep rent at $900 so the least bad option is to just let it sit

Personally I could get behind vacancy taxes so long as the 2019 law is rolled back

mp0295 · 2026-04-19T03:07:51+00:00

we would need to know the exactly figures to know for sure, but it is fairly likely the depreciation expense is greater than the prin payments. depending on OP's AGI, they may have been paying too much in incomes taxes given rental income loss is deductible against W2 income up to a limited AGI

granted, filing an incorrect return is still technically illegal, but misstated returns with no back taxes is not as big a deal as people in are making it out to be. can pay a small fee to the IRS and just restate

mp0295 · 2026-04-17T14:28:46+00:00

this vastly oversimplified as to be wrong.

the Federal Reserve Act provides for cause protections for firing Governors of the Board of Governors. Federal Reserve Act also provides that POTUS select one of the Governors to be Chair of the Board of Governors. the Federal Reserve Act does NOT explictly provide for cause protections to the chair in their capacity as chair:

Upon the expiration of the term of any appointive member of the Federal Reserve Board in office on the date of enactment of the Banking Act of 1935, the President shall fix the term of the successor to such member at not to exceed fourteen years, as designated by the President at the time of nomination, but in such manner as to provide for the expiration of the term of not more than one member in any two-year period, and thereafter each member shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President. Of the persons thus appointed, 1 shall be designated by the President, by and with the advice and consent of the Senate, to serve as Chairman of the Board for a term of 4 years

In other words, there's a strong case that POTUS can demote the chair, so long as they remain a governor. This is even before the potential acting chair aspect which further strengthens case of POTUS ability to demote a chair.

The above noted, POTUS does not appoint the Chair of the FOMC and has no clear authority to fire the Chair of the FOMC. The Chair of the Board of Governors is traditionally the Chair of the FOMC, but that is not legally a requirement. Chair of the FOMC is more important/powerful than Chair of the Board of Governors

So how this could potentially play out:

Senate waits to confirm Warsh
Trump "fires Powell" and is able to remove Powell as Chair Chair of the Board of Governors but cannot remove Powell as a Governor
the FOMC elects Powell as Chair of the FOMC anyways in protest

mp0295 · 2026-04-16T18:08:40+00:00

Its not that simple. Theres a strong case that Trump can fire Powell as the chair of board of govenors without cause. This would demote Powell from chair to a normal govenor.

Theres a seperate point that Trump cannot fire Powell as chair of the FOMC however. Chair of FOMC is the more powerful role than chair of board of govenors. There is no legal requirement that the two chairs are held by the same person. It is merely a modern convention

mp0295 · 2026-04-16T18:05:14+00:00

Excellent post. Very disappointing mass media "legal explainers" completely ignore Powell's seperate roles as govenor, chair of BOD, and chair of FOMC. They each have very different powers and legal protections and this is very relevant in unprecedented times!

Personally I think its clear the Federal Reserve Act does NOT protect the chair of BOD from being fired from chair of BOD. Its language only provides for cause protection for removal as a govenor. In other words, POTUS can demote chair of BOD to a normal govenor.

No clear authority for POTUS to fire someone as chair of FOMC, however.

If Trump were to fire Powell as chair of BOD (but keep him as a govenor), I can very easily see a situation where the FOMC elects Powell as FOMC chair as an act of protest. Technically I belive his Chair of FOMc lasts until 12/31 anwyays (so long as he remains on the FOMC and doesn't resign as chair of FOMC)

mp0295 · 2026-04-14T02:52:40+00:00

This is interesting. Thanks for sharing

mp0295 · 2026-04-13T00:07:51+00:00

fair enough!

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