Tag: scam

Stop Cashing In On Low-Income Students

Posted by – 25/02/2011

[via change.org]

Here’s how the Washington Post Company makes billions of dollars:

Veterans, single moms, and working parents are lured in by admissions counselors at Kaplan University Online (a for-profit college owned by the Post). Students use federal loans to sign up for classes that can be 14 times more expensive than a comparable community college class.

It’s basically a scam. Sixty-nine percent of students drop out. A third of students default on their loans, meaning taxpayers are stuck with the bill and the students have their credit destroyed — while Kaplan keeps all the money.

The fake communist party scam that fooled Mao Zedong

Posted by – 13/03/2010

[via guardian.co.uk]

A 76-year-old retired Dutch maths teacher described yesterday how for more than 25 years he was feted by communist leaders around the world as the inspired head of a radical Marxist-Leninist party that never, in fact, existed.

As Chris Petersen, head of the supposedly 600-member Marxist-Leninist party of the Netherlands, Pieter Boevé travelled to Beijing more than two dozen times and met Mao Zedong. He was also welcomed with open arms in Albania by Enver Hoxha, and in the eastern bloc capitals of Europe.

Oh Snap: NY AG Sues EX-Bank Of America CEO For Fraud

Posted by – 05/02/2010

[via consumerist.com]

Andrew Cuomo has announced a lawsuit against Bank of America’s former CEO Kenneth D. Lewis, its former CFO Joseph L. Price, and the company itself, for “duping shareholders and the federal government in order to complete a merger with Merrill Lynch.” Uh oh!

According to the lawsuit, the AG alleges that Bank of America intentionally didn’t disclose massive losses at Merrill Lynch so that its shareholders would approve the merger. Once it was approved, the lawsuit alleges that the management tricked the government into “saving the deal with billions in taxpayer funds by falsely claiming that they would back out of the deal without bailout funds.”

America’s Biggest Rip-offs

Posted by – 05/02/2010

[via cnn.com]

Are you infuriated every time you open your cell phone bill? Livid when you buy a snack at the movies? These are nine of the rawest deals around.

Text messages – 6,500% markup

Text messages are short, quick and cheap to transmit. So why are they adding so much to your wireless bill?

The messages are such a tiny piece of data that they cost carriers only about one-third of a cent to deliver, according to computer scientist Srinivasan Keshav, who testified before U.S. senators on the issue last summer.

US forces Haiti to pay for aid

Posted by – 05/02/2010

[via fromtheold.com]

Obama pledged $100 million dollars in aid to Haiti when the stricken countryi has $500 million debt to America. How does that make sense?

Haiti’s long troubled history actually started out as a accomplishment the world can be proud of. In 1825 Haiti was the first country to free themselves from slavery. But it came at a cost, they had to pay back the French slavers $21 billion and slowly it crippled the country. Yes, they are people overtaken by witchcraft and strange beliefs, but they were one of the richest islands of the time. With their successful sugar and rice cropsm they had always had the means to come out of poverty if the debt would’ve been dropped. But it was only a hundred years later that this happened, and by that time their economy had taken a serious knock.

The Debtor Debt Collectors Hate To Call

Posted by – 26/01/2010

[via consumerist.com]

Craig Cunningham has made $20,000 from 18 lawsuits he’s filed against debt collectors for violating the Fair Debt Collection Practices Act (FDCPA). In fact, it’s something a part-time job/hobby for him. To ensnare his first FDCPA-violating collector, with voice recorder running, he called back the number they left on his answering machine, and asked:

“Can you garnish my wages if I don’t pay?”
“Yes,” said the debt collection rep.
“Can you put a lien on my house?”
“Yes,” they said.

Another Reason To Avoid Giant Megapixel Point-And-Shoot Cameras

Posted by – 23/01/2010

[via consumerist.com]

Photo by usblsb

By now you hopefully know that more megapixels don’t necessarily make a better camera. For one thing, you can almost double the megapixels of a camera while only gaining about a 40% increase in resolution. For another thing, it takes a lot more than just sheer number of pixels to produce a decent image. Nevertheless, point-and-shoot cameras with ginormous megapixel stats (now topping 12 MP) continue to hit the market. But Ross at Petavoxel says there’s another reason to avoid huge MP point-and-shoot cameras: something called the Airy disk.

Congressman Demands FTC Probe Of Cash4Gold

Posted by – 20/01/2010

[via nytimes.com]

Representative Anthony D. Weiner denounced what he called the predatory practices of Cash4Gold in New York’s diamond district on Tuesday.

The flashy ads have become a staple on late-night television, sometimes featuring figures like the late Ed McMahon or M.C. Hammer, trumpeting promises of quick dollars in exchange for bits of old gold jewelry.

The company behind the ads is called — plainly enough — Cash4Gold, but on Tuesday afternoon, Representative Anthony D. Weiner said that the company’s business practices were not always straightforward.

The ‘false’ pandemic: Drug firms cashed in on scare over swine flu, claims Euro health chief

Posted by – 11/01/2010

[via dailymail.co.uk]

The swine flu outbreak was a ‘false pandemic’ driven by drug companies that stood to make billions of pounds from a worldwide scare, a leading health expert has claimed.

Wolfgang Wodarg, head of health at the Council of Europe, accused the makers of flu drugs and vaccines of influencing the World Health Organisation’s decision to declare a pandemic.

This led to the pharmaceutical firms ensuring ‘enormous gains’, while countries, including the UK, ‘squandered’ their meagre health budgets, with millions being vaccinated against a relatively mild disease.

Verizon Tried A TV Service Bait-And-Switch On My Parents

Posted by – 06/01/2010

[via consumerist.com]

Photo by Felix Pomerantz

Corey, who is trying to help his Brooklyn parents improve their TV setup, feels his folks were baited and switched by Verizon, displaying a cheap deal on its site that went away after he entered his parents’ address.

He writes:

Verizon just wired my parents’ apartment building in Brooklyn with FIOS and they were looking to switch from Cablevision because FIOS seemingly offers more channels at a similar price and plus my mom is really angry with Cablevision because of the Food Network dispute.
So I figured I would help them out with setting up FIOS, since they do not use the internet and I figured they had a better offer online. I went to the FIOS website and clicked over to the “FIOS TV Plans” page, which can be found here.