FTC Charges Online Marketers with Scamming Consumers out of Hundreds of Millions

[eVandals]

 

[makethatgreen]

He naturally looks shady. (oh wait, which one am I talking about?)

 

[Rusky]

The original owner of Enzyte got 25 years in prison and paid 500 mil for his big penis rebills. The company still operates with rebills, but its cancellation process is quick and easy. Probably a good case study for people trying to go more legit.

Exec behind male supplement Enzyte gets 25 years for fraud - USATODAY.com

I think things will get really choppy for a least a couple people.

 

[papajohn56]

Like I keep repeating...rebills can be done right. Not all rebills are shitty. Future rebills will learn well from this.

 

[Moxie]

That's because the government caused the subprime crisis you jackass, the government made laws forcing banks to lend to unqualified and less qualified borrowers so they could get a mortgage and own a home. Bush called that mess out in 2003 and was subsequently ignored.

New Agency Proposed to Oversee Freddie Mac and Fannie Mae - The New York Times


''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''


Hurr durr. The banks were given lemons by the Feds, and subsequently not long after, found a way to make lemonade with mortgage securities. Banks were not happy about the lending rule at first.

Subprime mortgage crisis - Wikipedia, the free encyclopedia

That suggests it was a lot more complicated.

And according to this :

The Community Reinvestment Act was passed in 1977. The CRA was weakened in the 2000s, yet subprime lending intensified. Mortgage companies beyond the reach of the CRA were doing most of the subprime lending.


"It's telling that, amid all the recent recriminations, even lenders have not fingered CRA. That's because CRA didn't bring about the reckless lending at the heart of the crisis. Just as sub-prime lending was exploding, CRA was losing force and relevance. And the worst offenders, the independent mortgage companies, were never subject to CRA -- or any federal regulator. Law didn't make them lend. The profit motive did."

 

[cziffra]

That suggests it was a lot more complicated.

It was, but it had nothing to do with a lack of regulations. All of the factors that went into causing this were related to government interference in the economy. Of course, if you look at this issue superficially, it looks like regulation would have solved everything. The proposed regulations would have only attempted to solve a problem the government created in the first place. Government regulation is like playing whack-a-mole. A regulation that supposedly solves a particular problem always creates more problems, which then leads to more regulation.

It's been a while since I watched this video, but I think it gives a pretty comprehensive overview of what went into causing this:

[ame=http://www.youtube.com/watch?v=jj8rMwdQf6k]YouTube - ‪Peter Schiff Mortgage Bankers Speech Nov/13/06‬‏[/ame]

 

[johnjassa]

Mkrongel predicted this shit in tupacalypse.

 

[xmcp123]

Who else sighs and remembers Wu-Yi tea everytime they see the name "Jesse Willms"?
Rebills were in such a simpler time back then. Hell, for a bit there Wu-YiSource even existed in the pre-flog days of affiiate marketing. Wu-Yi Tea? THATS FIVE STARS MOTHER FUCKER

 

[secretagentdad]

Congratulations, your necromancy skill has increased.