Winifred Jiau - former consultant for Primary Global Research was convicted of securities fraud and conspiracy. She befriended company insiders and persuaded them to give here confidential financial information, then passed that information along to hedge fund managers.
Surprise, surprise... hedge fund managers involved in yet another scandal. Well I would actually be surprised if hedge fund managers weren't involved in the whole scheme.
Estimates show that she received at least $200,000 for the information that she sold. Now Winifred faces 20 years for securiteies fraus and 5 years for conspiracy. And that makes her the Turkey of the Week!
Barrack Hussein Obamanation Why him again? Because he’s made almost every problem I know of worse. This is recognition for his incredibly stupid bailout plan for housing. All that it did was cost us a lot of money and make the downturn last longer. 1/3 of all the participants in the Home Affordable Mortgage Modification Program lapsed into default and more are on their way to default because they are late on their payments. The real estate market is getting clobbered again because of his stupid program making the problem even worse. By artificially prop up the market. And that makes Obama the turkey of the week!
The most glaring examples of Barrack Hussein Obamanation’s incredible economic stupidity is his program to bail out people that were having trouble making the payments on their houses. Most of those people were people who didn’t deserve to get the loans in the first place, so bailing them out was double stupid. One third of them have already defaulted and a whole bunch more are getting ready to default costing the tax payer hundreds of millions of dollars and getting almost no benefit. The only benefit was in fact, it caused the latest down turn in the real estate market because the program is going away and all it did was delay the inevitable downturn in the market instead of having it over with by now, it’s going to go on for a while.
If you want to get all the details, there’s a great article about it, here’s the link:
Greece is the turkey of the week.They’re going bankrupt. Their big socialist spending habits are killing them. Socialism does not work. Many socialist countries are in horrible financial states, and Obama is trying to send us down the same path.
Each year, Greece is in the hole 13% of GDP. It is going to take a really long and bad recession to get them out of the troubles they are in. Otherwise, the EU is going to have to continue feeding them bailouts each year, and I think that they will grow tired of giving them money. Greece needs to cut back the ridiculous social programs and get back to reality and the things they can actually afford.
Maybe someone should tell Obama about Greece, how spending more money on social programs that you really can’t afford can lead to bankrupting the country!
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On Thursday Barrack Hussein Obama announced that he is going to go after banks with new taxes. This is a particularly stupid idea because the banks will just pass the added costs onto customers like you and me. In other words, it is just another tax on all of us, no matter how much or little we make. Gee, thanks Obama; I don’t think this was the change the country was hoping for!
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Be sure to check out this month's edition of Bulletproof Your Financial Future -Newsletter. You can find it on our website HERE.
In this month's issue:
Real Estate: Keep Your Home Safe - Lyndi Reed
Mortgage Help: Don't Cannibalize Your Home's Equity -Michael Roberts
Legal: Death of a Spouse, Loose Your House? - Kirk W. Bennett
