American Greed

7 Replies

After watching a numerous episodes of American Greed on CNBC, one thing that is made clear to me is people should trust but verify, verify, verify. So many of the con artists from the show have ruin lives promising questionable returns to innocent people in exchange of their hard earn money. American Greed has opened my eyes evening more and unfortunately made me more cynical of people. People ought to invest the time to find something they are interested in and find a way to make it profitable for themselves. It all starts with a having a dream, then a goal, then taking action. What are your thoughts?

Master Key to Riches by Napoleon Hill

Never seen or heard of the show till now but my first thoughts are the disclaimer in many of the 'Investor' infomercials in tiny fine print that warns most ppl who follow our method we are selling make little or no money anyways.

My 2nd thought as to American Greed would involve the bigger picture of currently occupying, bombing up, and colonizing much of the world over and also having been to only nation to resort to nuking another. =(

The show is pretty entertaining but it is getting slightly stale. Every episode is pretty similar, almost always about a ponzi scheme.

I watched the show and still got scammed. I thought that searching the internet and meeting the person face to face was enough. I did not learn about skip tracing tools until after I got screwed. Most of the times when people say do your due diligence they do not cover these tools and how they can benefit you. Plus a lot of times when you see that someone has a position in their local REIA and a minister of the gospel you figure this is a good person. I did not realize until later that people pay for recommendations. Also some people do not con everybody just those who they feel they can get away with it. This is what makes it tough.

@Lelith Walker thanks for sharing. I ask for referrals and make sure I do some background check on the referrals and/or past customers/clients.

I enjoy the show. Very educational.

The one that breaks my heart is on a 1031 intermediary, who skipped town with all their clients money. In cases like this, there's no precaution anyone can take. One lady wanted to 1031 one property to another, getting ready for retirement, and now have to spend her retirement years working, with a lifetime of savings destroyed in one scoop.

I looked into using 1031 intermediaries a while back, and never realized these folks are not bonded.

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