Failed abortion transaction

by philg

Four different readers asked me for comments on “Hedge Funder Offered $75,000 to His Girlfriend for Abortion” (Yahoo! Style) or an underlying NY Post article: “My hedge-fund boyfriend tried to bribe me to get an abortion: suit”.

My response: Given that New York family law provides for a fixed 17 percent of her defendant’s pre-tax income in child support revenue, mostly this is just some added color for Elmira Naymark’s lawsuit. If her 29-year-old defendant earns more than $360,000/year, the profitability of the child beyond $61,200/year (tax-free; $1.285 million over 21 years) will depend to some extent on judicial discretion, so highlighting the failed abortion transaction may yet have some practical significance.

Why did this transaction fail? When we interviewed lawyers for Real World Divorce we found that abortion negotiations are commonly handled by attorneys, not by a “friend” and and the mom as in this case. As with taking pills to ensure pregnancy following a one-night encounter, abortion sales tend to occur in states where collecting child support is potentially more lucrative than going to college and working at the median college graduate wage. The friend’s purported offer of “50k-75,000+” is not consistent with attorney-handled transactions, which more typically are completed at roughly 50 percent of the net present value of the child support cashflow (21 years in New York), plus the potential plaintiff’s legal fees.

[Note that the net present value of obtaining custody of the 29-year-old defendant’s biological child would be totally different in various jurisdictions around the U.S. and the world. The plaintiff would receive a maximum of about $5,000 per year in Germany, $8,000 per year in Denmark, $13,000 per year for 18 years in Nevada, and just over $20,000 per year for 18 years in Minnesota or Texas. The child’s schedule would be completely different among these jurisdictions as well, ranging from about 17 percent of the time with the loser parent in New York to a statutory 50/50 schedule in Nevada or Arizona.]

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7 thoughts on “Failed abortion transaction”

  1. Lovin’ the 3000 comments at Yahoo

    Master Rater
    How can a Hedge Funder be so bad at math? $75,000?? She will get so much more from the the child support he will be paying.

    fuskiegirl2
    I would have taken the $75,000, kept the baby and sued the asshat.

    JennJenn
    … “waiting for him to accept his responsibility.” A baby is just as much the mother’s responsibility financially as it is the father’s. If she could not afford to have a child she probably should have taken steps to ensure she didn’t have one.

    Valerie
    Why doesnt she work?? Just a question

    la-di-da
    she chose to be a single mother… why don’t these women just order a vial from a sperm bank ?

    Yahoo Reader
    She is smiling because she hit the jackpot, she’ll be mooching for the rest of her life.

    Pinehawker
    LOL! Rolled by a probable golddigger. Schmuck.

    Yahoo Reader
    Why take $75K when she can sue him for a lifetime of support?

    Lisa
    she knew what she was doing!!! 75,000 now or 75,000 a month. how so many women “trap” men!

    Bundy
    So basically she’s using her baby as a lottery ticket. Got it!

    Randy
    Here’s another great example, guys, of how ten careless minutes with a cute predator can mean millions in losses down the road. Don’t screw these chicks!!!
    Turn and walk away. No woman is worth an unwanted baby.

    J
    Once again, a woman uses her reproductive organs as a golden ticket to 18 years of tax-free income. Women are EVIL.

    Timothye
    Gee I wonder why he wanted her to have an abortion??? The kid is barely born, and she is suing for child support. What a C-U-Next-Tuesday!
    Tough lesson for this guy to learn, but when you have money you don’t drop seed anywhere buddy.

    Victor
    The answer is not to have an abortion but to set child support levels at a much more reasonable level which would not encourage women to hit the child support lotto. Woman are immoral whores to ask men to pay ridiculously high child support.

    wanderr
    Why isn’t the title of this article “Gold digger traps another rich guy into supporting her” ?

    DsrtC
    Women, kids last men often don’t. Most of our friends are now divorced and while they regret being with the man, never do they regret having their kids. She is 32 so needed to get her family planning in, and he is worth millions I read in another article. Don’t have sex men if you don’t want a future. Women are learning they aren’t going to be your personal sperm bank, not unless there’s a future involved. She got smart after 2.5 years and put her goals first.
    The judge is going to rip him a new one.

    Tomas2
    They’re both evil. He only wanted sex and she only wanted to be rich.

  2. Few more:

    Eric
    When a woman spreads her legs to get paid is prostitution. Her throwing the kid in order to have all of her expenses paid is the long game of prostitution.

    Ross
    How much did Planned Parenthood offer her?

    Lester
    How is this news when the liberals claim it is the right of every woman to abort their babies, and encourage them to do so.?

    Dill Pickle
    Typical pro choice liberal thug. It’s ugly when a man is pro choice.

    Gabriel
    What’s funny if she did not want the child after she gives birth she can abandon the child at any public institution no questions asked no legal obligation yet will preach to men about being responsible.

    sfirx
    She would be a fool to take 75k when she could probably make 20 times that amount over the course of her child’s childhood.

    sjd
    Wow, did this chick time transport in from about 150 years ago? “His responsibility?” I wonder how many Walmart cashier guys she’s dated. No, that’s not a question – I know the answer. Zero. She’s a gold digger with a nugget in her mine shaft, for sure.

    Q
    Sounds like a gold digger that intentionally got herself knocked up because her monthly payment is 75k. Funny, if a woman doesn’t want a baby and a man does, it’s okay to kill it but if the situation is reversed, the man is still somehow responsible to pay the gold digger.

    Mike
    The only one who wins in this is the “Single Mother”. The child loses his father before he can even understand what a father is. The father loses by paying child support and staying out of the kids life because of the mother. And the mother WINS 18 YEARS OF CHILD SUPPORT (216 checks total).

    Adnorh
    ATTENTION MEN: PREGNANCY CAN BE THE BEST RETIREMENT JOB! GET A VASECTOMY!!

    Jack
    Why take 75k when you can get child support for 18 years right? Its probably something he taught her – long term investment instead of short term gain!!!!

    HeyHombre
    Money meets unwanted baby. Baby mother sees goldmine.

    Simon E
    She spread her legs and now sticking her hand out to him? She has just as much responsibility as he does.
    This poor kid was brought into this world as a means for this greedy freeloader to Get a free ride for the next 18 years.

    Not O
    Trying to pay off a gold digger so you aren’t tied to her for the rest of your life doesn’t sound unreasonable, though obviously he should have protected himself and used a glove.

    rbtrage
    This guy has it backwards. When you are rich and don’t want kids, get it snipped and just tell the women how much you want kid. You’ll get more tail than you can shake a stick at. Women like this are dying for you to get them pregnant.

    Luna
    She gave birth to a golden egg

  3. Marilyn
    don’t judge him, you have no idea if shes had abortions in the past, especially with poor men’s babies.

    Me
    Not a bad deal, but she decided to play it for more money.

  4. LMAO: One thing that I find interesting about the comments you’ve selected is how many people are misinformed about the duration of child support profits in New York. People seem to assume that the cash flows for 18 years when in fact it is 21 years (more than in many states, but less than the 23-year period of Massachusetts or the even longer potential up in Canada).

  6. 32 year old models are just about has-beens in that profession. Many of them never even finished high school before beginning modeling at age 14. Her career options post-modeling are limited – store clerk, perhaps. If marriage, followed by divorce when the middle-aged still-beautiful her succumbs to the charms of another gentleman for an extra-marital affair, is not in the offing, $75000 per year after taxes for two decades is more than she would likely earn otherwise. Of course, she would/should intentionally “forget” her birth control pills if he has not proposed to her and set a wedding date in a reasonable time frame. No wonder she is smiling and pleased when plumply pregnant.

  7. These people phil highlights with regard to child-support and alimony always seem quite disgusting. I’d be fine with both of these horrible people getting thrown in jail on fornication charges or something.

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