>>I feel sorry for this "Low-Level" employee, because I suspect they are soon going to find out just how much of a price tag Apple puts on their trust and valued secrecy
Maybe there's no better way but this is a bad security policy. With thousands of employees with such access, odds are that one might do it, either because he can, bragging, ideology, $$ from competitor or NSA /FSB etc etc.
Punishment is a possibly but "I will not get caught" etc
someone has to raise their kids, support their families? Also there's a loss on taxes. BUT, on the "positive" side, they die early, no SS or medical expenses. An overdose and all is settled.
Debt is debt, you tried to make a profit and x% of borrowers cannot fully pay it (they might stop paying after 6 years for example, so not all is lost). The idea is to curtail this kind of debt.
In bankruptcy court they are protections, you cannot have $2 mil in the bank or a $250k salary and try to get out of paying $92k in student loans.
My solution: Make it dis-chargeable in bankruptcy. Since it's a for profit loan--albeit at lower rates, especially compared to 20+% a year credit cards--the lender took the risk. The next time, they'll price this in and think twice before approving every loan.
The borrower that took the loan--you signed it, right, and you were 18+ years old ? --makes a calculated decision on whether to file for bankruptcy or not. It has costs for the filer, at least for 7 years, and possibly for life (some jobs will ask if you ever filed for bankruptcy).
Other than that, who cares: you are a big bank...sometimes you win, sometimes you lose. You should treat a bank like it treats you, if you can get away with it, of course.
>>A significant portion of those would never even think about spending money at Gucci.
and a "significant" portion apparently do. This money thing is weird...at some point you realize that you actually can afford x, y, and z. So you start enjoying it.
>>Gucci is pure name. Their quality is better than average, but the price is nowhere reasonably higher than the average quality. Frankly, the money is wasted because someone stroked your ego with powerful psychology and manipulation.
Do you realize that USA alone has over 10 million millionaires? And maybe 100 million can afford (by sacrificing for a few months) one or a few things from Gucci. Why not buy something really cool? You might die tomorrow so why not enjoy a bit of your money today. And, no, items from Gucci, D&G or Coach aren't the sane as knockoffs.
On the other hand, you can buy used clothes for a few dollars or get them for free...
Maybe there's no better way but this is a bad security policy. With thousands of employees with such access, odds are that one might do it, either because he can, bragging, ideology, $$ from competitor or NSA /FSB etc etc.
Punishment is a possibly but "I will not get caught" etc