27 Apr

More Milwaukee Public Schools Budget Nonsense

flush1The clowns running Milwaukee Public Schools never fail to provide ample fodder for articles at the Fraud Files. I have written several articles here on how taxpayers are being cheated out of their hard earned money. We’ve made it too easy for MPS to do this to us.

We’ve been led to believe “it’s for the children.” No, it’s not. It’s for the employees, both unionized employees and administration. We’ve been fed the lie that more money equals better education. MPS has clearly demonstrated that’s not the case, wasting more than $14,000 per child per school year and still having a large percentage of children who can’t read or do math. Read More

26 Apr

Evidence of Naked Short Selling? Hardly.

Drunk Patrick ByrneThe tinfoil hat-wearing crew over at Deep Capture thinks they’ve finally demonstrated an actual case of Naked Short Selling damaging a company.  (They’ve been asked repeatedly to prove that naked short selling has ever severely damaged a company, and have yet to produce proof that any such thing has happened.)

What they’ve instead demonstrated is what an utter moron Patrick Byrne, the incompetent CEO of Overstock.com (NASDAQ:OSTK) is.  Maybe this most recent article written by Byrne is definitive proof of why Overstock.com cannot turn a profit and has to resort to fraudulent financial frolicking to make it seem like they’re doing something right. Read More

21 Apr

MLM Scheme, Mannatech, Pays Millions to Victims for Making False Claims of Cures and Health Benefits

News from Pyramid Scheme Alert:

Mannatech, a long time MLM company, member of the Direct Selling Association and publicly traded on the New York Stock Exchange, has agreed to pay millions of dollars to consumers who were deceived by its false health claims about its products. The state of Texas, where the scheme is based, charged that Mannatech falsely claimed that its food supplements cured Down syndrome, cystic fibrosis, cancer and other serious diseases. Read More

21 Apr

Why I Hate Intuit and Quickbooks

I hate Intuit, the makers of Quickbooks and Quicken software. The reason is simple: Instead of relying on value to sell their products, they use trickery, deceit, and strongarm tactics.

Any accounting professional who uses Quickbooks in their work knows what I’m going to say without even saying it. Each year, Quickbooks comes out with a new product. This year’s edition is cleverly named “Quickbooks 2009.” Read More

13 Apr

What’s Wrong With the U.S. Healthcare System?

The problem with healthcare is not the “uninsured” or that people aren’t getting the care that they need. On the contrary, people are getting care whether they’re insured or not. They are getting some of the best care in the world.

But our system has evolved in a way that hurts us all. It’s evolved in a way that causes consumers to be careless users of the system. And that careless use costs us all money.  Pair that up with the widespread belief that healthcare should be “free” for all, and you’ve got a recipe for disaster. Free care isn’t free at all. Someone has to pay for it, and everyone would prefer that someone to be someone else.

Then of course, there is government involvement. Please show me an example of government intervention that isn’t costly and inefficient. Our government is ineffective at almost everything it does, so it’s no wonder that when our government gets involved and starts making all sorts of mandates about health care and insurance, the result is horrible. (Ususally higher costs, lower efficiency, and less effectiveness.) Read More

06 Apr

Distributor Failure Rates in Amway (Quixtar)

Former high level Amway distributor Eric Scheibeler, author of Merchants of Deception, offers this perspective on the Amway “business” and whether it can really be considered a good opportunity:

Amway Global: Fact, Fiction or Business Opportunity Fraud?
Perhaps you have seen the television commercials for Amway global promoting that Amway operates in “50 different countries and helps put over 3 million people into business for themselves… we are a company of opportunity.”  Do the “Independent Business Owners (IBO’s) actually own an independent “business”? Read More