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The lure of multi-level marketing
I constantly marvel at how multi-level marketing (MLM) can continue to lure in millions of people a year, who collectively pump billions of dollars into these losers. Time and again, industry experts calculate a failure rate of 99% (failure = losing money on the deal) … And still consumers line up to sign up for [...]
Continue reading...The UFF Money Merge Account money shuffle explained
29 Sep 2008
Guest post by Joe Taxpayer As I looked at multiple United First Financial agents’ sites, I found the common thread was the claim that one simply can’t do this on their own, that the shifting of funds from a checking account, to a HELOC, and then to a primary mortgage somehow needed such a [...]
Continue reading...Mark Cuban’s idea on a private bailout of the financial sector
26 Sep 2008
Mark Cuban has an idea: Let’s scrap this government bailout of the financial sector and instead make it private. Create an Exchange Traded Fund (ETF) that buys the distressed securities these companies want to get rid of, as well as all warrants and shares of stock in the companies themselves. Investors choose whether or not [...]
Continue reading...Somebody please check Henry Paulson
24 Sep 2008
This whole “bailout” of the financial sector bothers me. It bothers me that as a taxpayer, I will be on the hook for a nice chunk of the $500 billion to $1 trillion that this will cost. (And the way things are looking, the cost may be closer to $2 trillion.) It bothers me that executives [...]
Continue reading...Bailout to include consumer debt?
24 Sep 2008
The Wall Street bailout, publicly estimated to cost taxpayers somewhere between $700 billion and $1 trillion or more, could end up to be bigger than we ever imagined. Now added to the bailout plan: student loans, auto loans, credit card debt, and other “troubled” debt. The Washington Times reports:
Continue reading...Dissolve MPS? Yes, please!
20 Sep 2008
Late this past week, the Milwaukee Public Schools board voted 6 to 3 in favor of “examining” the possibility of dissolving the district. This would be a sort of bankruptcy situation, and basically that is where the district is headed eventually. The teachers are so grossly overpaid and the administration is so excessively wasteful with [...]
Continue reading...Wauwatosa teachers doing less because they got a raise
14 Sep 2008
You read that correctly. Wauwatosa, WI teachers are upset that they got an across the board 3.8% increase, so they’re doing less around the schools. Did you get a raise this year? How much was it? I’d put money on it that it was something less than 3.8%, but the teachers are still crying.
Continue reading...You are not being constitutional!
13 Sep 2008
This email I received does not really need any commentary from me: Info-Sequence, We have found that your shoptoearn blog operator is erasing 90% of all positive information in defense of Shoptoearn supporters. Their is a large group of people who belive in Shoptoearn and they recently were exposed to your business practices. We are asking for a email [...]
Continue reading...Amway executives make Top 5 Scam Artists list
11 Sep 2008
Published by Vue Weekly, a news source in Edmonton, the Top 5 Scam Artists list included Amway (Quixtar): Dick DeVos and Steve Van Andel are the inheritors of Quixtar, the company left to them by their billionaire fathers. Call it a pyramid scheme, call it multi-level marketing, or, better yet, call it by its original brand [...]
Continue reading...Selling the Money Merge Acount from UFF
06 Sep 2008
One of our readers posted this, and it’s brilliant. It is the simplest possible way to break down what United First Financial is selling with its Money Merge Account. Question for the consumer: Would you rather pay $0 to save $110,000, or would you like to pay $3500 to save $100,000? It gets to the truth of what [...]
Continue reading...- Mary Kay Cosmetics: Destroying half a million women a year
- A new pyramid scheme: United First Financial
- Ufirst Money Merge Account: Resistance is futile
- Vendor talks, Usana squawks
- The Sarah Palin pregnancy cover-up that wasn't (updated)
- $3,500 wasted with United First Financial, per Dave Ramsey
- What does Dave Ramsey think about United First Financial
- Why can't I pee on my neighbor's lawn?
- United First Financial agent compensation plan
- Searching for Shop to Earn scam
- Tracy Coenen: Roger - What exactly does MMA do if not encourage a user to pay...
- Roger Carman: Tracy, It is my opinion that you don’t know much of the...
- JoeTaxpayer: Roger, what it seems to do is use confusing terms (such as...
- marcy: Roger, I love that you are painting the UFF group as self sacrificing...
- Craig: For someone critical of the research capabilities of others, you seem...
- Tracy Coenen: What it really does is cause homeowners to waste $3,500 on an...
- Roger Carman: Craig, It would really impress me if you took your research...
- Craig: Hello Roger, or should I say UFirst Agent No. 864081? How is your...
- Craig: In fact, Quicken and MS Money are far better quality products, and...
- Tracy Coenen: The sad thing is that the quality of the $200 product will be...
- United First Financial broker numbers and earnings
- No Surprise: The “bailout bill” is falling apart
- More gifts from the government for the financially irresponsible
- Credit card company bailout next?
- Election fraud and the future of America
- Why audits are near worthless (yes, internal audit too)
- Bailout head Neel Kashkari wants transparency (except when he doesn’t)
- Overstock.com executives subject to clawback provision in Sarbanes-Oxley?
- Milwauke Public Schools: Obscene property tax increase
- But there’s no evidence of voter fraud!
About the Author
Tracy Coenen is a forensic accountant and fraud examiner who investigates white collar crimes, including cases of financial statement fraud, embezzlement, tax fraud, and insurance fraud. She is the author of Essentials of Corporate Fraud and more than 100 articles on fraud featured in industry publications.
30 Sep 2008
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