MovieChat Forums > Vinyl (2016) Discussion > Get a loan from the mob boss instead of ...

Get a loan from the mob boss instead of mortgaging/selling their homes?

posted 9 years ago by Daisydee521
32 replies | jump to latest

Richie lives in a beautiful house in Connecticut plus he has a beautiful apartment in NYC. Zak offered to mortgage his house but Richie wouldn't allow it.. What is wrong with that? Why couldn't both of them mortgage their homes plus sell the apartment? Or Richie can sell his house in Connecticut (of course, he'd have to work things out with Devon)

Instead they sign with the mob boss which is like dealing with the devil. Maury told Richie the last guy who didn't pay the mob guy was murdered. Doesn't make sense and seems a little contrived.

[–] drsuess88x 9 years ago

Only desperate people who have nowhere to turn for financing usually turn to the mob for money. That's one of the biggest moneymakers for the mob. Desperate people who have nowhere else to turn. That's Richie. It would make no sense to someone like you or me who deals with their problems in a rational manner. I knew a band the manager in upstate New York who ruined himself by doing the exact same thing.

[–] DreamsAgain 9 years ago

As Daisy said:

...."Instead they sign with the mob boss which is like dealing with the devil"....

I agree, Daisy.
I could not believe that Richie went to the MOD for that loan!
Nothing but trouble will come from that!
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[–] churchr-1 9 years ago

This is slim, but there may be a hidden benefit for Ritchie. The bad news of course is that Galasso didn't do this deal for the 5 points, he did it to own Ritchie and now he does. The possible good news is that now Ritchie is worth a lot to Galasso while Corso is on his bad side. The cops know what happened and the only way Ritchie avoids prison time is to give up Corso which he can't do or they'll kill him. Unless Galasso tells him to. That way Galasso gets rid of Corso and keeps his investment out of prison.

[–] lrsk 9 years ago

Or Richie uses the Mob to get rid of Corso. Corso might cut a deal with the Prosecutors.

[–] feckyerlife 9 years ago

I thought the 5pts was way to high , specially coming from one of the 5 Dons

[–] Greatornot 9 years ago

Are you kidding? 5 points from the mob is actually low, even nowadays. Back in the early 70's , savings accounts were getting 5% and mortgages were about 14%. You could not be more wrong.

[–] churchr-1 9 years ago

"I agree, Daisy.
I could not believe that Richie went to the MOD for that loan!
Nothing but trouble will come from that! "

And this is after watching what happened to Gold.

[–] CarrieBradshaw434 9 years ago

They foreshadowed his involvement with the loan earlier in the season. I saw this one coming down Fifth Avenue!

"The past is never dead. It's not even past."
William Faulkner

[–] cdz6969 9 years ago

Google what Interest rates were back in 1973.. The Prime Rate was 10.2%, imagine what banks where lending at .. probably close to 15%.

Maybe the Mob rates were actually better.

Jesus would support Universal Health Care

[–] Daisydee521 9 years ago

yes, the Mob rates were better but they also wanted your blood and your soul.

I am surprised that Zak didn't keep insisting on mortgaging his house. I thought he had better sense than Richie, I mean he's a devoted family man who must realize this may endanger he and his family. The whole storyline seems unnecessary but maybe this did happen back then, I don't know.

[–] DreamsAgain 9 years ago

Daisy, Did you see that scene in which that guy described what was done to that other guy who did not pay the Mafia back? Ugh! (....He was "strangled to death until he turned blue", as was described). That was a warning to Richie that if he does not pay back the $$ money, then he could be strangled too! Yieks!
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[–] mudpole 9 years ago

But with the mob, 5 points would probably get charged weekly. Not monthly like a bank would charge you.

[–] assaf-951-746347 9 years ago

5 points per week

[–] feckyerlife 9 years ago

mob rates are always better, they were then, they are way better now. but 5 pts means 50% which is ridiculous for that amount of money. specially coming from a boss

[–] BlackiesDad 9 years ago

mob rates are always better, they were then, they are way better now. but 5 pts means 50% which is ridiculous for that amount of money. specially coming from a boss

This post is so incoherent that it's hard to know where to start...so I won't.

[–] BlackiesDad 9 years ago

Maybe the Mob rates were actually better.

I guess you don't understand that "five points" means five percent PER WEEK.

[–] A_Man_of_Iron 9 years ago

Well, the main reason Richie didn't want Zak to mortgage his house was because the reason Zak wanted to do it in the first place was because he was feeling guilty about losing that $90,000, which actually Richie threw away gambling. Richie won't tell him the truth but he won't let him do something stupid like that out of guilt, which is why it was his idea to go to the mob.

[–] lrsk 9 years ago

Yah, bad mistake Richie did. I rather mortgate or sell my possessions or go bankrupt then let the Mob into the front door. Gallaso even called it an investment than a loan. And he pretty much is starting to get his hooks into the company by making sure Richie let's the other record company share office space...

[–] Daisydee521 9 years ago

Yah, bad mistake Richie did. I rather mortgate or sell my possessions or go bankrupt then let the Mob into the front door. Gallaso even called it an investment than a loan.

Exactly.

I also think the murder and mob story takes away from the stories about the music. You can find these mob stories anywhere on tv. I wonder if this is what HBO and Winter disagreed about.

[–] churchr-1 9 years ago

Ritchie does one of the worst things he could possibly do while letting Zak continue to blame himself for their predicament.
Damn.

[–] DreamsAgain 9 years ago

Church-1, so true:

...."Ritchie does one of the worst things he could possibly do, while letting Zak continue to blame himself for their predicament...."

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[–] lrsk 9 years ago

I doubt it... they want to make the story line as accurate as possible about the times. The Mob was involved in the music/recording industry from the 50's and on. Not anymore but back then they were... Tommy James and the Shondells for example were mobbed up. There are other examples but that one comes to mind because he wrote a biography about it. They were behind the scenes but they were there. Check out Tommy James book as well as Hit Men by Fredric Dannen. That also covers the mob's influence in the record industry since the 40's.

[–] DreamsAgain 9 years ago

Irsk:

..."Tommy James and the Shondells for example were mobbed up...."

Yieks, I did not know that!
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[–] lrsk 9 years ago

Yah, he was. They controlled his career. Don't remember how long but he wrote a book about those experiences...

[–] feckyerlife 9 years ago

Their still involved with music now. you just don't here about it as much. very famous rumor of the rap label cash money being started by a 10 mil mob loan

[–] DreamsAgain 9 years ago

Feckyerlife,
Interestingly ,I watched a super interesting Documentary on HBO a few years ago, about how the (mafia) MOB was involved in the Porn Industry (in New York) way back then (in the 1960's). Anyhow, that Documentary showed how the Mob infiltrated the porn industry, so it would not surprise me that they had their hands in the Music Industry too, along the way....somehow.
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[–] lrsk 9 years ago

We'll the porn industry is a given... since it's a very shady business especially back then. The Mob financed Deep Throat for example...

[–] lrsk 9 years ago

Not the Mob but gangbangers and drug traffickers stateside yes. Examples are Death Row Records and BMF... The Major labels became too big and too corporate nowadays for the Mob to infiltrate and control.

[–] feckyerlife 9 years ago

its the 70s in NY. no way you wouldn't have the Mob involved in that era and Winter hasn't done anything not Organized Crime related, so you should've figured that out before the first episode aired

[–] joewritesonasia 9 years ago

I'm sorry ... I thought this was a TV show, a work of fiction albeit based on actual characters and events ... a work of fiction where characters make mistakes to enhance the plot ... where characters make decisions whilst off their skulls or unbalanced through stress ... guess I got it wrong ... you'll be telling me next that Rick shoulda pissed off outta Casablanca when the Nazis took over ...

[–] dudekabob 9 years ago

Does it not occur to anyone on this threat that banks want documentation, lots of it, about finances, taxes, deeds, titles, borrowers history, etc? The mob? They'll finance anybody as long as they still have blood running through their veins. Any reputable bank would have slammed the door in their collective faces. Besides, banks, especially back then, were notorious slow. Their application for a second mortgage - if there was even such a thing as a first one - could have taken months just to move from one desk to another.

[–] drsuess88x 9 years ago

Excellent point! Never thought of that.