The lure of multi-level marketing
I constantly marvel at how multi-level marketing (MLM) can continue to lure in millions of people a year, who collectively pump billions of dollars into these losers. Time and again, industry experts calculate a failure rate of 99% (failure = losing money on the deal) … And still consumers line up to sign up for [...]
The UFF Money Merge Account money shuffle explained
Guest post by Joe Taxpayer
As I looked at multiple United First Financial agents’ sites, I found the common thread was the claim that one simply can’t do this on their own, that the shifting of funds from a checking account, to a HELOC, and then to a primary mortgage somehow needed such a [...]
Carnival of Fraud – September 29, 2008
Welcome to the September 29, 2008 edition of carnival of fraud. We’re a little skinny on submissions this week, as I messed up the posting dates…
Allen in Fort Worth presents Have you paid off your Subprime Mortgages? posted at The Whited Sepulchre, saying, “why are taxpayers having to co-sign for fraudulent mortgages?”
Sara Goldstein presents Bargain [...]
Mark Cuban’s idea on a private bailout of the financial sector
Mark Cuban has an idea: Let’s scrap this government bailout of the financial sector and instead make it private. Create an Exchange Traded Fund (ETF) that buys the distressed securities these companies want to get rid of, as well as all warrants and shares of stock in the companies themselves. Investors choose whether or not [...]
Somebody please check Henry Paulson
This whole “bailout” of the financial sector bothers me. It bothers me that as a taxpayer, I will be on the hook for a nice chunk of the $500 billion to $1 trillion that this will cost. (And the way things are looking, the cost may be closer to $2 trillion.)
It bothers me that executives [...]
Bailout to include consumer debt?
The Wall Street bailout, publicly estimated to cost taxpayers somewhere between $700 billion and $1 trillion or more, could end up to be bigger than we ever imagined. Now added to the bailout plan: student loans, auto loans, credit card debt, and other “troubled” debt.
The Washington Times reports:
