the staff of the Ridgewood blog
Ridgewood NJ, we have noticed and increase in the velocity of dissent to the lowest common denominator in the Village lately . Is it really the case in the Village that grown adults do not know how a simple debit card works? (REALLY) And these people can afford to pay taxes and live in Ridgewood ? (REALLY) . And some think the new Estate Card will eliminate or should eliminate all your property taxes? (REALLY).
We know a group of Paul Aronsohn crusaders , who are simply in love all things Paul Aronsohn and are still alive and active in the village , and we know this self interested group of people are trying to undermine the current mayor , but folks the disrespect and stupidity is getting a bit out of hand .
Its no wonder scammers continue to target Ridgewood as a place of easy pickings for the latest con job .
The following is a letter we pulled off of Facebook :
An open letter to Matt Rogers and Bob Rooney, respectively General Counsel and CFO of the Village of Ridgewood, concerning the Ridgewood Estate Card:
Dear Mr. Rogers and Mr. Rooney:
I am very concerned about the letter sent out by Mayor Knudsen endorsing the Ridgewood Estate Card. Has the letter been vetted by someone with a financial understanding of the working of credit/debit cards?
The letter is so cheerful, chirpy and positive, it makes it sound like “money for old rope.” Admittedly, the Mayor asks the recipients to read the “Cardholder Agreement and Membership Agreement’” a nice disclaimer, but how understandable are these agreements to the layman? I have three degrees from two top U.S. universities, and I can hardly go past the third line of such agreements. I looked up the website and the fees presented are beyond comprehension or comparison.
Reading comments on FB and trying my best to understand the economics, it appears one has to deposit $800 monthly to start earning the 0.25% offset to real estate taxes. At spending of $10,000 per year, this means a contribution of $25. Is that really worth it? There might be additional savings on purchases but based on what? And what charges are incurred if the card owner does not use $800 in purchases?
For the record, I am not an expert in this field, but I can’t but believe the card is not as good as it appears. If I am wrong, please correct me.
Again, has this been vetted by our CFO or the FAC? Wouldn’t that be something they should have looked at?
I honestly worry that the Village is exposing itself to trouble as I think the letter is not complete in all the information it should provide. Some people will feel misled.
Could someone please inform Mr Halaby that the FAC has been shut down and that the FAC failed to follow even the most traditional and mundane generally accepted financial practice standards ,leaving the Village open to massive liability law suits .The FAC over time proved to be nothing more than a bunch of political hacks looking to promote the failed agenda of former mayor Paul Aronsohn.
While Mr. Halably claims to have,” three degrees from two top U.S. universities ” I guess none of the degrees involved book keeping , and basic math .By the way in 3rd Grade we all learn (in America) that you should read things before you sign it . If there is something you don’t understand you can “Google” it or even call the toll free number and ask. I know its simply brilliant.
Look we know Mr. Halaby is smarter than this . Our suggestion would be to focus on issues , like Ridgewood Water or the over development of CBD and the lack of infrastructure to support it or even the crazy high taxes , oh but wait those issues are what pushed Aronsohn and his wanabe fan club out of political power to begin .