The GTL? Sunday Guest Column ? ?Ponzi Scheme Politics? By Christopher L. Do
2009-07-27 05:08:00 GTL? Sunday Guest Columnist: Author And Moderately-Right-Of-Center Political Pundit, Christopher L. Doster Describes The Huge Difference Between Legimate Marketing And Network Marketing Models And Ponzi Schemes… ?Ponzi Scheme Politics? ?We have the greatest business opportunity known to man,... This is only a comment summary. Visit http://guntotingliberal.com to view the lastest content complete with some of the most outrageous original photoshops in the political blogosphere!
Judge allows money manager Madoff to remain free
2009-01-12 19:58:00 Judge allows money manager Madoff to remain free NEW YORK (AP) - A judge allowed disgraced money manager Bernard Madoff to remain free on bail Monday, rejecting an attempt by prosecutors to send him to jail for mailing more than $1 million in jewelry to family and friends over the holidays. The decision is sure to ...
By: TexasFred's
Team Obama Posts ?Help Wanted? Sign For [Self?] Vacated Secretary Of Commer
2009-01-05 06:50:00 Weary Of The FBI’s Frivolous “Pay To Play” Probe Into [Psst... "alleged"] Wrongdoings By New Mexico Governor Bill Richardson, Patriotic Leader Steps Down For The Best Of His Country, President-Elect Obama, And His Party According to MSNBC, President-Elect Barry “Steve”... This is only a comment summary. Visit http://guntotingliberal.com to view the lastest content complete with some of the most outrageous original photoshops in the political blogosphere!
The GTL?s NFL Picks ? Week 16, 2008
2008-12-18 07:05:00 Last Year: 176-90 Last Week: 8-8 This Year: 135-86-1 Throughout The Weeks, Months & Years ? Click HERE? Wow, what an impressive outing last week for MOI (and yep — you guessed it: part French and unapologetic)… NOT. 8-8. Very un-GTL-like. I offer my sincerest apologies to... This is only a comment summary. Visit http://guntotingliberal.com to view the lastest content complete with some of the most outrageous original photoshops in the political blogosphere!
Madoff Ponzi Scheme and Structured Settlements. Any Exposure?
2008-12-15 18:54:00 As the extent of the fallout from the massive Madoff Ponzi scheme continues to unfold, the breadth of investors and firms affected is already staggering. According to reports several Israel insurers, European Banks, the owners of the Mets, the IRA of the Chief Economist for Market Watch, numerous charitable foundations (some of whom have been forced to close) and the North-Shore-LIJ Health System. As if the financial services community needed another confidence sapper, the New York Post reports that international losses alone could exceed $8 billion!While Mr. Madoff appears destined to meet his maker in jail (unless he does a Ken Lay), the reporting of the fraud in the financial press is likely to cause some confusion. Therefore 4structures.com, LLC has conducted a brief structured settlement survey of the primary structured settlement annuity issuers for official statements on their Madoff exposure, if any. As the responses come in they will be posted here.Stuctured Annuity I...
This is what the end of a Ponzi Scheme looks like. And these are the housi
2008-04-25 14:00:00 Destroyed housing gamblers.Failed flippers.Exposed mortgage fraudsters.Homes as lottery tickets.The vast majority of people "losing their homes" are not the innocents portrayed in the media or by Hillary Clinton, taken advantage of by "predatory lenders". They're just your typical losers, chain smoking at the casino, hoping against hope for 'the big score' that never came. They're gambers who bet and lost. They're people who committed mortgage fraud, yet won't see a day in jail.AND THEY ARE NOT DESERVING OF ANY KIND OF TAXPAYER BAILOUT. GOT THAT OBAMA? GOT THAT HILLARY? GOT THAT MCCAIN? GOT THAT PELOSI, REID, SCHUMER, DODD AND BUSH?Thanks Seth for the link... Great series on the crash at the Minn. StarTribune. Read 'em all, and you'll be especially enraged with the rampant illegal cash-back schemes that were out there. Crime paid HP'ers, even for the gamblers going into foreclosure. Why? They got to keep the cash, and mortgage fraud isn't a crime anymore in the United ...
By: Housing PANIC
> Reliance Power-Another Ponzi Scheme?
2008-04-04 05:45:00 Reliance Power Ltd-Banking On SPVs? Apart from a reasonably successful IPO of Reliance Power and the Bonus issue that has ensued, there still remain a number of questions about the viability and future of this entity. -First, Reliance Power has been promoted by Reliance Energy and ...
> Reliance Power-Another Ponzi Scheme?
2008-04-04 05:45:00 Reliance Power Ltd-Banking On SPVs? Apart from a reasonably successful IPO of Reliance Power and the Bonus issue that has ensued, there still remain a number of questions about the viability and future of this entity. -First, Reliance Power has been promoted by Reliance Energy and ...
Washington Post cartoon on the leveraged Ponzi Scheme mortgage meltdown - "
2008-04-02 05:52:00 Thanks to MC at the Post for sending this along. Click for a bigger viewOh, it all seems so obvious now doesn't it?Bottom line: Leverage sucks on the way down. Really, really sucks.
By: Housing PANIC
UK jury convicts Filipino woman in ponzi scheme
2008-03-22 01:58:00 MANILA, Philippines - A jury in South Devon, England has convicted a 57-year-old Filipino woman in connection with a 350,000 British pound (P28.8 million) Philippine-based international investment scam. A jury at Exeter Crown Court reached a 10.2 majority verdict for Belen Aquino-Gower on two regulatory charges relating to carrying on business as an unauthorized broker for ...
How do you say "Ponzi Scheme" or "holy crap I just got killed in real estat
2008-02-28 14:41:00 Ah, ya gotta love the wide-eyed "rents don't matter" second home property investors who are getting slaughtered all around the world now - Miami, Spain, Bulgaria, Ireland, Latvia, Lithuania and now even Turkey. Bloody idiots. The biggest problem isn't the Brits and the Californians who started it. Nope, it's the locals who got sucked along into the Ponzi Scheme just like the sheeple in Phoenix, Vegas and Tampa, who got in right when the out-of-state or out-of-country speculators were getting out. They're the real bag holders in this mess now as the investors flee or walk away.Thanks Mark for the link.Turkish Daily News - Summer house prices upside downReal estate prices in Turkey's major tourist areas have dropped by 15 percent to 40 percent, an industry executive said Saturday.Spurred on by a 1-point reduction in mortgage rates, Antalya's real estate sector experienced a boom toward the end of 2004 and at the beginning of 2005, Sa?lam said. The effect was strongly felt in...
By: Housing PANIC
The UK housing ponzi scheme finally makes it onto the BBC
2008-02-14 02:49:00 It's nice to be out of the UK for a bit - I swear every bloody program on TV there is "housing ladder" and "flip this house" and assorted other housing porn.Late last year, you could feel the panic. Panic to get on the "housing ladder" or forever be priced out of the market. Stories about kids and strangers teaming up to buy, four to a flat. Stories about 125% loan-to-value loans. Stories about 5-times income lending. Stories about couples who had no money left over after paying their mortgages.And I think we all know what's coming next for the Brits - A historic real estate crash that will make the US's housing crash seem like a Sunday tea party.The UK housing crash of 2008 - 2015 will be one of the largest financial collapses in recorded human history. And it won't stop at the UK's borders - with property-mad Brit spreading their housing ponzi scheme cancer throughout the EU, this crash will take us so many places you'll be amazed. Spain, Bulgaria, Lithuania, Portugal, Slov...
By: Housing PANIC
Annuit Coeptis LLC (Gabriel Joseph) Real Estate Ponzi Scheme or Legitimate
2008-01-21 00:21:00 I’m hoping that if I post my story about investing with Gabe Joseph and Annuit Coeptis, LLC that others will come forward as well. If you are looking for information about Annuit Coeptis the all seeing eye on the back of the one dollar bill, you have came to the wrong place, this is about a company that has defrauded my family and many others out of money.The first time I met Gabe was in his office at Franklin Squires, he seemed nice but you could tell he was a salesman. He told us about Rick Koerber and how he was such an “honorable” man. He told the story of how Rick’s company National Business Solutions went under at the end of the .com era and how Rick paid back all of his creditors in full with interest. He told us how the money was invested in Founders Capital and very briefly told us about the “Equity Mill" TM. What Gabe never went over is the questions that you have to ask to satisfy the SEC.The first time we caught “The Invisible Hand” of capitalism and his as...
And the Great Housing Ponzi Scheme ends. Get ready for the carnage.
2007-12-23 10:12:00 Another GREAT housing crash expose in the New York Times. Nice to have good writers out there doing their jobs (hint hint Catherine Reagor).You wonder how this kind of information can be out there, and the NAR and realtors are still out there lying and spinning. It's over folks. It's all over. And with the crash of housing comes the crash of everything. Get ready.This Is the Sound of a Bubble BurstingSouthwestern Florida is in the midst of this gathering storm. It was here that housing prices multiplied first and most exuberantly, and here that the deterioration has unfolded most rapidly. As troubles spill from real estate and construction into other areas of life, this region offers what may be a foretaste of the economic pain awaiting other parts of the country.National home builders poured in, along with construction workers, roofers and electricians. But as a kingdom of real estate materialized, growth ultimately exceeded demand: investors were selling to one another, inf...
By: Housing PANIC
BMW - the Ponzi scheme (again)
2007-11-30 04:19:00 BMW is in trouble. They took out an ad in the Wall Street Journal to announce it. They didn’t exactly put it in those words, but the net effect is the same. BMW will pay you to buy one of their used cars. They will give you half-price financing and two months free, if you will please, please take a used BMW off their hands. Not a good sign. The Ponzi scheme is coming home to roost. Ponzi, for those that are unfamiliar with the concept, sold investments that promised a high return, and paid that return from those who invested. Such schemes are, of course, doomed by their own success. So, too, with BMW. Using the high resale value of the brand, they’ve flooded the market with new cars leased at low prices based on the expectation that the resale value will be historically high. So, now, they have to support that resale value to keep the scam going. Don’t bet on it. BMWs are f...
The worldwide housing Ponzi Scheme is over as overheated property markets c
2007-10-21 22:55:00 Ah, ya gotta love the first truly worldwide Ponzi Scheme. Who'd have thunk that Irish people would be losing their shirts in Spain or that Brits would be getting slaughtered in Latvia.The worldwide credit bubble is over. And people around the globe have seen what's happened in Phoenix and Miami and Boston and San Diego and more and they're pulling out of the scam as fast as they can, at any price.It's over. Ding dong the Global Housing Ponzi Scheme is over.Thanks to HP'er Christophe in France for the linkForeign property dreams crash - Irish investors face meltdown as real estate prices plummet throughout Europe and USTens of thousands of Irish homeowners may be facing financial meltdown as hugely hyped overseas property investments turn sour.Lured by unrealistic promises of extraordinary returns, Irish investors borrowed heavily to pick up cheap buy-to-let apartments abroad. But property prices in these so called "hotspots" have begun to plummet in recent months.Along with...
By: Housing PANIC
When a Ponzi Scheme ends, the easy money goes away, and the con men, promot
2007-10-13 23:46:00 ?Kelly Markham earned $200,000 in commission in 2005 as a loan officer at an Irvine mortgage brokerage. When commissions dried up, she began looking for another job to support her six-month-old baby and hang on to her $600,000 home.???I?ve signed up for work at a temp agency, but all I?ve gotten is five hours of work in the past four weeks stuffing envelopes in some office,? said Markham, as she perused Starbucks job listings online one recent afternoon.?
By: Housing PANIC
Welcome To Ponzi Scheme 101
2007-09-19 00:11:00 We all know what Ponzi Schemes are. Now apply this scheme to world economics. When I posted "Sub Prime Mess or another Golden Rule Lesson", I had no way of knowing that someone would post with the specifics of CDO's...
Quiznos suit alleges ?Ponzi scheme? actions
2007-08-22 15:48:00 Blue MauMau: Justin M. Klein, lead attorney for the U.S. class-action suit against the Quiznos sandwich chain, has stated in the complaint that franchise-agreement terms are “extremely one-sided in favor of Quiznos.” If a location cannot be secured, Quiznos then threatens termination due to the franchisee’s failure to open a store within the time period. ...
Major mortgage lenders, big homebuilders or the chief ponzi scheme enablers
2007-08-19 19:34:00 Who goes bankrupt first:1) Countrywide2) IndyMac3) Toll Brothers4) KB Home5) Fannie Mae6) The US GovernmentMake your bets!(I'm short CFC, FNM and IMB, should be short KBH, TOL and US$)
By: Housing PANIC
And then the Great Housing Ponzi Scheme ended for all to see, and the blood
2007-08-03 17:09:00 Remember "Discredit" from Manias, Panics and Crashes. Then go pick up a Wall Street Journal, and it will all become clear my friends. It hath been foretold. Credit Woes Hit Stocks AgainA host of housing and mortgage-related stocks have seen punishing selloffs in recent sessions as investors moved to flee at the first whiff of trouble.Countrywide, Accredited Home Lenders and Beazer Homes are among those who have endured precipitous drops, regardless of whether the problem was more imagined than real.Bear Stearns was getting crushed after Standard & Poor's cut its rating outlook for the broker to negative from stable. Earlier this week, the company said it is facing losses in a third mortgage-related fund. Bear Stearns, which has lost 19% over the last month, was down another 7.5% to $106.90.
By: Housing PANIC
New York AG files suit in flipping/Ponzi scheme allegations
2007-06-19 20:38:00 In the following press release New York Attorney General Andrew M. Cuomo announced the area’s first major house flipping lawsuit against an investment company that used a Ponzi scheme that increased urban blight in Buffalo neighborhoods. The Attorney General’s suit accuses East Coast Capital (ECC), LLC and others of defrauding unknowing investors through an elaborate Ponzi scheme involving over 50 properties throughout Buffalo. In the scheme, high returns are paid to investors with money paid from other investors instead of actual profits from the real estate venture. ECC duped investors by promising high returns if they invested in distressed real estate by providing mortgages that – also unknown to the investors – grossly exceeded the market value. In a Ponzi scheme, an infinite number of investors are needed to provide the high returns to the other investors. Therefore, Ponzi schemes inevitably “implode,” leaving many investors with significant...
Indictment in alleged real estate ponzi scheme
2007-06-19 00:28:00 In the following press release MICHAEL J. GARCIA, the United States Attorney for the Southern District of New York, and MARK J. MERSHON, the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced the arrest today of WILSON JAMES BASTON, JR., a/k/a “Wil James,” a/k/a “Will James,” the President and Founder of Will James Equity Partners, Inc., on charges that BASTON defrauded investors of over $16 million. According to the two-count Complaint filed in Manhattan federal court.In 2002, BASTON created Will James Equity Partners, Inc., which purported to be a real estate investment program which purchased distressed properties in the New York City area, as investment vehicles for long and short-term investors. A marketing/promotional brochure for Will James Equity Partners, Inc., described the enterprise as a “for-profit corporation whose purpose is to identify real estate properties which are...
Red, Green and Blue: Ethanol: Fuel of the Future or Ponzi Scheme?
2007-06-14 19:23:00 Photo courtesy of FreeFoto.comShirley: Color me cynical, but when giant agribusinesses fall over one another in a rush to board the corn ethanol train, I tend to view the situation with something other than rose-colored glasses. Outside of the juicy profits awaiting corporations like ADM thanks to the combination of U.S. farm subsidies and $60-plus-per-barrel sweet light crude, the ethanol frenzy offers more questions than answers. First, there is the questionable energy payback: some studies say ethanol yields more energy than it requires to produce ("The Energy Balance of Corn Ethanol: An Update"), while others say it's a net negative energy source ("Ethanol Fuel from Corn Faulted as 'Unsustainable Subsidized Food Burning'"). There are other concerns as well: more fuel-crop fields mean fewer forests, grasslands and natural ecosystems, higher agricultural water demands, higher food-and feed-crop prices, and more intensive monocropping on already...
By: Green Options
The end of the housing Ponzi scheme: 63% of homes in SW Idaho up for sale a
2007-05-20 14:49:00 Investors get in - check.Investors get out - check.Locals left holding the bag - check.Repeat all around the world - check.Southwest Idaho has large jump in number of homes put up for saleExperts say investors trying to unload houses in highly populated southwestern Idaho have likely boosted the number of homes on the market.They say a recent drop in median home prices might have triggered the sales rush.Nearly 8,000 homes are for sale in the area.Financial experts say that many homes on the market will likely continue driving down home prices.Ada County saw a 1.3 percent drop in median home prices in March, the first decline in 10 months.The current situation is good for buyers, not so good for sellers.Heinrich Wiebe, co-founder of Genius Realty, says he doesn't see any recovery. He says about 63 percent of the homes in the region now up for sale are owned by investors
By: Housing PANIC
The IMF, not understanding that the housing ponzi scheme was global, says t
2007-04-05 10:31:00 I think someone needs to get a copy of "In Come the Waves" or "Manias, Panics and Crashes" over to the IMF, eh?Man, how can so many smart people be so dumb?World growth to 'resist US blip' The US is the world's largest economy and has shown signs of slowing as a weaker housing market has dampened consumer confidence and spending.However, the IMF said that the problems were US specific and should not spread.According to the IMF, the US economy will now grow by 2.6% in 2007 and by 3% in 2008.That is a slower rate of growth than the IMF predicted in September and reflects the increased problems in the US housing market.Since the turn of the year, problems with the sub-prime mortgage market have further fanned fears about a slump in house prices.Sub-prime lenders provide mortgages to people with poor or non-existent credit histories, and higher interest rates have pushed defaults to a record level.The worry for the IMF is that while the effects of these problems have been limited, sh...
By: Housing PANIC
Credit Economy a Ponzi Scheme?
2007-03-20 20:28:00 Check out this article by mainstream financial publication The Economist. Even the “normal” news and opinion folks are starting to see what we have been saying for a couple of years - our system is built on a mirage of credit and debt. The obligations are too large to be paid for ...
By: Ponderthis...
CYCLING PROGRAMS and PONZI SCHEMES
2007-03-14 06:00:00 CYCLING PROGRAMS and PONZI SCHEMES for the Investment Information on klickbuy.com
Beware Of The Ponzi Schemes
2007-02-11 23:29:00 Dear reader, today we are going to talk about the danger areas in the moneymaking world. So read carefully, it may save your bank account! THE BEGINNING OF PONZI SCHEMES Carlo Ponzi (1882-1949) emigrated to US from Italy in 1903. He came to Boston with less than $3. He quickly learned to read and write English. During his first decade in US (partially in Canada) he changed numerous jobs. He also perpetrated some small financial frauds and spent quite a few years in jail.Now comes the part that made our (anti) hero famousIn 1918 Ponzi found out about international postal reply coupons (IPRC). The basic idea behind it was to allow the sender to buy stamps in the foreign country for reply mail, instead of requiring the recipient to pay for them.For example, a lawyer could send a document to France for signing, including a coupon that would pay for English stamps to allow the recipient to send it back. The price of these coupons differed in some countries. Ponzi realized that he could...
What is a Ponzi Scheme?
2006-08-06 20:09:14 A Ponzi scheme is an illegal investment opportuntiy. New investors are enticed by promises of high returns in a short period of time. The most well-known example of a modern day Ponzi scheme was the autosurf site 12dailypro, which crashed in 2006 and has been investigated by the American government. This particular sites offered returns of 12% a day for 12 days, effecivley giving 44% profit in less than a fortnight. The scheme worked by taking money from new investors to pay out the older investors. In effect no money was actually invested - the money just went up the queue to people who had already put money into the scheme. Ponzi schemes always crash. As soon as the amount of money coming into the scheme drops, the program will not be able to pay out older investors. |
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