Saturday, July 27, 2019

More Proof That Alexandria Ocasio-Cortez is Clueless as to What Happens When You Give Away Money

AOC thinking hard
On Monday, Equifax settled with the US Federal Trade Commission over its 2017 data breach, which affected 147 million Americans.

The settlement of up to $700 million includes as much as $425 million for individual compensation including $30 million for "Alternative Reimbursement Compensation."

So naturally, AOC sent out this absurd tweet:

 Alexandria Ocasio-Cortez
Everyone: go get your check from Equifax!
$125 is a nice chunk of change.
Get that money and pay off a bill, sock it away, take a day off, treat yourself, whatever you’d like - but cash 👏🏿 that 👏🏽 check! 👏🏻
💸 It takes one minute. Do it here 💸: (link: …
Of course, anyone whose brain isn't made out of fried coprolite would realize that Equifax isn't going to send out $125 to 147 million people. That would be $18.4 billion. The net worth of the company is only $7 billion.

Try squeezing $18.4 billion out of $7 billion and call me when you are done.

Here is what the settlement really says:
 [Y]ou may file a claim for Alternative Reimbursement Compensation for up to $125. To claim Alternative Reimbursement Compensation you must certify that you have some form of credit monitoring or protection services on the date you submit your claim form and that you will keep those services for a minimum of six (6) months...If there are more than $31 million claims for Alternative Reimbursement Compensation, all payments for Alternative Reimbursement Compensation will be lowered and distributed on a proportional basis.
 The Alternative Reimbursement Compensation is an alternative to 10 years of free credit monitoring services from Equifax.

But the real key to the alternative reimbursement is that the cash payments are capped at $31 million and dispersed on a proportional basis. Thus, if all 147 million people file for their portion of the settlement via this alternative, they each get a check for 21 cents.

So much for the financial acumen of the socialist genius and her nutty thinking that there is a $125 give away to 147 million Americans.

Someone must have eventually clued her in. She later tweeted:
Alexandria Ocasio-Cortez
Okay everyone UPDATE on Equifax: for most people the better deal is 10 years of free credit monitoring.
There’s apparently a run on settlements so there’s anxiety people are going to get 16 cent checks. But if you choose 10 years of credit monitoring, Equifax *must* cover it.
Duh! A run on free money, something a socialist would never spot.



  1. “$125 is a nice chunk of change”!
    It is?

  2. AOC grew up in a world where everything was given to her. So naturally she believes in the Money Tree.

  3. We gave over $4.5T to Wall Street, the Tweeter in Chief says there is no inflation. Fire up the helicopters and deliver to Main Street.

    Let's make QE a fundamental right.

  4. Sandy majored in economics at Boston University even bragging about her degree. Considering how economics are taught these days it is understandable how often she is wrong on economic issues but, with how heavy the curricula is on math you would think she could have figured out the Equifax settlement with some simple calculations before shooting off her mouth.