Malicious Compliance

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You need to know what I'm going to do with MY money? Ok... (self.maliciouscompliance)

submitted 1 year ago by gorillakitty to c/maliciouscompliance

15 comments fedilink hide all child comments

This is a story from my dad.

During a recession he applied for a small personal loan for a few thousand dollars from his bank. He had excellent credit, was a homeowner, stable job, yadda yadda. His loan approval should've sailed through easily.

But because of the recession, the bank was trying to be extra careful about loaning out money. A loan officer called him to review his paperwork, and asked him what he was going to spend the loan on.

Dad was pissed. He said it's a PERSONAL loan, and it's none of their business what he's going to do with it. It's personal.

The bank dude was really nice, he explained the situation and said he's just doing his job. He had to fill out paperwork, one of the spaces required that he writes what dad was going to do with the money.

Dad said, "Ok, when I get the money, I'm going to take it all out of the bank in cash, go home, open my window and throw it all outside."

He found out a few days later he was approved for the loan.

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[–] simplecyphers 16 points 1 year ago (1 children)

Inspiring haha.

I wonder what influence the stated reason had (if any) on the approval. What did he use it on?

[–] gorillakitty 52 points 1 year ago (1 children)

Glad you asked.

Short answer: gambling

Long answer: us kids were starting high school and he knew college was after that, so he needed to figure out how to come up with some money to help us. He was good at math, so someone suggested he play the stock market.

He started off investing "fake" money (just his own personal ledger) and did pretty good. So he invested small amounts and continued to do well. He finally decided to borrow money from the bank, which is how the story came about.

He actually did REALLY well; paid off the loan, got a bigger one, paid that off, etc, until he had enough of his own money to keep investing. He beat the S&P every year, he had a talent for it.

But he really didn't enjoy it, he said it was a lot of work to keep up with the markets and how they interacted with each other. He kept it up for a few years after we finished college until he had a comfortable nest egg and quit.

He only paid for half our college, as a matter of principle he wanted us to come up with the other half. I still have loans to pay off but it was a huge help.

Now he hates capitalism and doesn't do any investing at all. He used to have some safe mutual funds but he's jaded about the state of the world, he doesn't want any part of the system.

[–] [email protected] 8 points 1 year ago

Reminds me of Brad Pitt's character in The Big Short.