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Keyword: ponzischeme

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  • GUEST COLUMN: The real story of teachers' walk-ins and outs ( Colorado: NEA unions )

    04/27/2018 5:40:23 AM PDT · by george76 · 18 replies
    Gazette ^ | April 26, 2018 | Kim Monson
    What do the three pictured flags have in common? The first is the flag of the USSR (Union of Soviet Socialist Republics). Estimates are that 40,000,000 to 60,000,000 people lost their lives under the rule of Stalin's iron fist. The third is the Chinese flag. Everyday hard-working people did not fare well in Mao's China either. Anywhere from 49,000,000 to 78,000,000 died under Mao's communist society. In the middle is the flyer that teachers' unions distributed to Colorado teachers with their Walk-Ins tool-kit encouraging Englewood's teachers to protest and walk out of class recently. Additionally, the teachers' unions are organizing...
  • California Running Ponzi Scheme with Unclaimed Property Program

    04/22/2018 9:27:47 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | April 22, 2018 | Bruce Bialosky
    Bernie Madoff became an infamous individual a decade ago for running what appears to be the largest Ponzi scheme in United States (and possibly world) history. At some point his investment program stopped operating as a normal investment vehicle and just took the funds from new investors and paid returns to the old investors. It all ended when the market crashed in 2008 and no new suckers were drawn into his web of deceit. California (and most likely your home state) is running its own Ponzi scheme with their Unclaimed Property program. The question is when will their merry-go-round stop...
  • It’s Time to Abandon Earth Day

    04/22/2018 8:40:10 AM PDT · by rktman · 38 replies
    townhall.com ^ | 4/22/2018 | Edward Hudgins
    We all want to live in a world conducive to human health and safety. The good news is things have been improving for years. Starting with the big picture, some five decades ago, 45 percent of the world’s population was living in extreme poverty. Today, that number is less than 10 percent. Back then, global life expectancy was 60 years old. It is now around 72, in developed countries, it’s more than 80. Even in Africa, the most impoverished region of the world, average lifespan has climbed from 47 to 60. The annual death rate of children under five years...
  • Social Security's Death Knell Is Ringing. Can You Hear It?

    01/21/2018 9:46:42 AM PST · by Kaslin · 107 replies
    American Thinker.com ^ | January 21, 2018 | William Sullivan
    Social Security is, barring an immediate and massive overhaul in how benefits are paid to the back-end of the Baby Boomer generation and beyond, on its deathbed. There can be no mistaking that fact. Veronique de Rugy explains at Reason: Since 2010, [Social Security] has been running at a cash-flow deficit – meaning that the Social Security payroll taxes the government collects aren't enough to cover the benefits it's obliged to pay out. That should have been a signal that the time had come to look at reform. Instead, we've spent the last seven years ignoring the problem. To get...
  • Blockchain Tech Is Transforming The Energy Industry

    01/10/2018 4:30:19 PM PST · by bananaman22 · 18 replies
    Oilprice.com ^ | 01-10-2017 | Haley
    Blockchain is more than just a buzzword. It truly has the potential to turn entire industries on their heads. In many ways, the energy sector has been slow to adopt this new tech, but things are finally beginning to change. As ‘Big Energy’ begins to catch up, many market leaders and investors are looking towards blockchain for a more transparent and efficient energy future. Just one of these capabilities would be to enable the energy industry to adopt a peer-to-peer trading model, completely revolutionizing the way energy is bought and sold.
  • The creator of $17 billion cryptocurrency litecoin has sold his entire stake

    12/20/2017 5:23:41 AM PST · by a fool in paradise · 37 replies
    Business Insider ^ | 12-20-2017 | Oscar Williams-Grut
    - Litecoin founder Charlie Lee said in Reddit post he has sold his entire holding of the cryptocurrency. - Lee pins his decision on criticism that his Twitter posts about the currency were attempts at personal enrichment. - Lee says he will remain involved in litecoin and cryptocurrencies more broadly. LONDON — The creator of one of the largest alternative cryptocurrencies has exited his entire stake in the digital currency, citing a "conflict of interest." Charlie Lee announced in a Reddit post on Wednesday that he had "sold and donated" all of his litecoin holdings over recent days. He said...
  • Stanford Regulators Admit Not Pursuing '03 Fraud Claim

    08/19/2009 3:55:15 PM PDT · by CutePuppy · 5 replies · 794+ views
    CNBC ^ | August 17, 2009 | Scott Cohn
    The industry self-regulatory organization that was supposed to police the brokers at the Stanford Financial Group acknowledges that a Stanford employee alleged in 2003 that the company was running a Ponzi scheme, but the organization did not follow up on the claim based of its own policy, which has since been changed. The disclosure comes in testimony from Daniel Sibears, Executive Vice President of the Financial Industry Regulatory Authority, FINRA, prepared for a Senate Banking Committee hearing on Monday. In 2003, Stanford advisor Leyla Wydler alleged in an arbitration case that the company was "engaged in a Ponzi scheme to...
  • Social Security unfunded liabilities rise to $12.5 trillion, according to trustees report

    07/14/2017 5:15:22 AM PDT · by george76 · 31 replies
    Washington Examiner ^ | Jul 13, 2017 | Joseph Lawler
    Social Security's unfunded liabilities total $12.5 trillion in present-dollar terms over a 75-year timeframe, the administration's trustees reported Thursday, an increase of $1.2 trillion from last year's estimate. The trustees report showed that Social Security's combined trust fund can only pay scheduled benefits through 2034, a projected date that is unchanged from a year ago. Medicare's trust fund, though, is in better shape than previously estimated and will run out a year later than previously anticipated, in 2029. At those dates, beneficiaries would face the prospect of an immediate cut in benefits unless policy were changed in some way to...
  • Social Security Is Not A Benefit. It Is A Right That One Has Paid For!

    06/30/2017 9:36:27 AM PDT · by davikkm · 106 replies
    IWB ^ | Pamela Williams
    Senator Alan Simpson (R-Wyoming) needs to get his facts straight about social security. You pay 6.5% as an employee, Your employer pays 6.5%. You pay 1.5% to Medicare, Total 14.5%. If you are self-employed you must pay the 14.5% yourself. How could he say, because senior citizens expect their social security and medicare benefits when they retire, they are greedy? “Alan Simpson, Senator from Wyoming, Co-Chair of Obama’s deficit commission, calls senior citizens the Greediest Generation as he compared “Social Security” to a Milk Cow with 310 million teats.”
  • Those Damn Millennials

    05/12/2017 5:14:22 AM PDT · by Kaslin · 20 replies
    Townhall.com ^ | May 12, 2017 | Bill Tatro
    Pension plans continue to blame poor market performance for their continuing dire straits of massive underfunding. Irrespective of all time market highs, their actuarial assumption of 8% has been impossible to achieve and continues to be way out of reach. Municipalities around the country are entering the summer season with expectations of violence not seen in several decades. Yet many are cutting back on police and fireman, for lack of money, just at the moment they seem to need them the most. Finally, the repairing of roads and bridges, popularly known as infrastructure, continues to be postponed by the “City...
  • Berkshire is accused in NY lawsuit of workers' comp 'siphoning'

    09/12/2016 2:22:11 PM PDT · by george76 · 4 replies
    Reuters ^ | Sep 12, 2016 | Jonathan Stempel
    Berkshire Hathaway Inc has been sued by a New York bicycle courier company over an alleged illegal scheme to cheat employers buying workers' compensation policies. The complaint, filed late Friday by Breakaway Courier Systems, came as Berkshire's Applied Underwriters unit faces scrutiny over its workers' compensation policies, including some that have been banned by California, Vermont and Wisconsin. Breakaway, with about 300 employees, accused Berkshire and Applied of "siphoning" premiums through a web of illegal shell companies, with diverted premiums going to unlicensed out-of-state insurers. The plan amounted to a "reverse Ponzi scheme" where unsuspecting employers expecting to buy affordable...
  • 'Innovation Center' tries to reinvent Medicare

    04/18/2016 8:42:12 AM PDT · by Olog-hai · 6 replies
    Associated Press ^ | Apr 18, 2016 4:08 AM EDT | Ricardo Alonso-Zaldivar
    They work for the government and even their closest relatives have no idea what they do. It’s not because they’re spies or nuclear scientists, but because their jobs are so arcane: trying to reinvent Medicare to improve it, and maybe save taxpayers money. In a sprawling, nondescript office park near Baltimore, some 360 people at the Center for Medicare & Medicaid Innovation are trying to change the health care system, using the government’s premier insurance program as leverage. If they prevail, the U.S. may no longer have the worst of both worlds: unsustainable spending and unenviable results. […] Because the...
  • Highway construction dollars, local police protection clash

    03/29/2016 11:09:58 PM PDT · by Tolerance Sucks Rocks · 28 replies
    The Carlisle Sentinel ^ | March 13, 2016 | Marc Levy (AP)
    Call it Pennsylvania’s highway robbery. A pot of money from a huge increase in fuel taxes and motorist fees under a 2013 law designed to shore up Pennsylvania’s highways and bridges is not so huge anymore, as a growing amount is getting diverted to the Pennsylvania State Police. Now, alarmed transportation planners, construction firms and engineers are looking at 12-year Department of Transportation projections that show a fattening state police budget consuming more dollars for construction projects. Lawmakers are taking notice, too.
  • Healthy People Needed to Make Obamacare Ponzi Scheme a Success

    11/30/2015 10:07:25 AM PST · by Kaslin · 31 replies
    Townhall.com ^ | November 30, 2015 | Devon Herrick
    The U.S. health care system is unsustainable but it could be dramatically improved with more efficient care of our sickest patients. Medical spending is rising at twice the rate of income growth. Medical prices are rising at three times the rate of consumer inflation. The Affordable Care Act (ACA) was sold to the American people as a means to fix those problems and make health care affordable. The vehicle to achieve this is, implausibly, a requirement that we all purchase overpriced health insurance. In addition to stipulating the benefit package Americans are allowed to have, ACA regulations also force insurers...
  • Another Government Ponzi Scheme Starts To Crack - Do You Depend On It?

    10/24/2015 5:32:28 PM PDT · by SeekAndFind · 25 replies
    Zero Hedge ^ | 10/24/2015 | Submitted by Nick Giamburino of International Man
    Another Government Ponzi Scheme Starts to Crack - Do You Depend on It?Government employees get to do a lot of things that would land an ordinary citizen in prison.For example, it’s legal for them to threaten and commit offensive, rather than defensive, violence. They can take property from others without their consent. They spy on anyone’s email and bank accounts whenever they please. They go into trillions of dollars in debt and then stick the unborn with the bill. They counterfeit the currency. They lie with misleading statistics and use accounting wizardry no business could get away. And this just...
  • Green Energy Execs Praised by Clinton Foundation Indicted for $54M Ponzi Scheme

    09/07/2015 6:06:03 AM PDT · by afraidfortherepublic · 13 replies
    The Washington Free Beacon ^ | 9-5-15 | Lachlan Markey
    Executives of a Pennsylvania green energy company singled out for praise by Bill Clinton were arrested on fraud charges on Thursday in connection with an alleged Ponzi scheme. The individuals are facing charges of wire fraud, securities fraud, and conspiracy over their roles in running a green energy company that authorities say was an elaborate $54 million Ponzi scheme, the Associated Press reported. Prosecutors said the trio lied to investors that their “biochar” technology and “carbon-negative” housing in Tennessee made millions, but they had almost no earnings and used the money to repay earlier investors and for themselves. The scam...
  • Trustees: Social Security Will Run $84 Billion Deficit in 2015

    09/05/2015 11:24:08 AM PDT · by Olog-hai · 55 replies
    Cybercast News Service ^ | September 1, 2015 | 5:17 PM EDT | Barbara Hollingsworth
    The Old-Age, Survivors, and Disability Insurance (OASDI) program commonly known as Social Security, which celebrated its 80th birthday on August 14, is projected to run an $84 billion deficit this year, according to the 2015 Annual Report of the Board of Trustees. […] During 2014, $646.2 billion in payroll taxes was collected from 166 million working Americans. But that was not enough to cover the $859 billion in Social Security benefits that were collected by 59 million people, including 42 million retired workers and their dependents, six million survivors of deceased workers, and 11 million disabled workers and their dependents....
  • Feds: Green Energy Ponzi Scheme Duped Consumers Out Of $54.5M

    09/03/2015 3:54:30 PM PDT · by SMGFan · 8 replies
    Consumerist ^ | September 3, 2015
    When someone makes a promise that seems too good to be true: like saying you’ll be “stinkin’, filthy rich” if you invest in their green energy technology, it’s a good idea to look into that proposition with a little more scrutiny. That kind of attractive, yet ultimately worthless deal cost consumers nearly $54.5 million, federal prosecutors say. The Department of Justice announced today that federal prosecutors filed fraud and conspiracy charges against the three co-founders of Pennsylvania-based Mantria Corporation for their part in bilking millions of dollars from unsuspecting consumers. Under the scheme, from 2005 to 2009 the group encouraged...
  • Jeb Bush: Social Security Means-Testing 'Ought to Be Considered'

    06/01/2015 2:49:39 PM PDT · by BradtotheBone · 105 replies
    CNS News ^ | June 1, 2015 | Susan Jones
    (CNSNews.com) - Jeb Bush says he would considering pushing back the Social Security retirement age by as many as five years and scaling back benefits for Americans who paid into the system but who also have accumulated wealth. "We need to look over the horizon and begin to phase in, over an extended period of time, going from (age) 65 to 68 or 70. And that by itself will help sustain the retirement system for anybody under the age of 40," Bush, a potential contender for the Republican presidential nomination, told CBS's "Face the Nation" on Sunday. Bush also wants...
  • The Biggest Ponzi Scheme in the History of the World "When She Blows It'll Be Krakatoa Redux"

    04/22/2015 2:11:51 PM PDT · by concernedcitizen76 · 73 replies
    April 22, 2015 | Self