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Dirty Money on Netflix

7,301 Views | 61 Replies | Last: 6 yr ago by SACR
tsuag10
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AG
Pretty interesting.

1st episode was about the Volkswagen "clean diesel" scam.
2nd episode was about payday loans.
I'm on 3 now.

Anyone else watched it yet?
HustlerAggie
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I haven't seen it, but I will check it out now. Is it like an undercover expose' type of a show?
John Maplethorpe
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AG
Documentary style. I've seen all the first season.

One episode is basically about Trump sucking at business and ripping people off in Atlantic City, Trump university etc.
Donald Trump is a protectionist like many other politicians, save that he unfurls his vast economic ignorance more fully and more proudly than do more seasoned politicians.
tsuag10
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AG
Documentary style "look back" at past events.
administrative errors
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This series is fascinating.

Makes me paranoid.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Ryan34
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AG
How similar is this to American Greed?
MEag02
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AG
Solid series and very interesting
akaggie05
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AG
Very good! Watched the VW and Valeant episodes last night. Was familiar with both cases already but still learned a lot from the show.
always gig em
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AG
Watching the payday loan one now.

Love how these are put together.
JDCAG (NOT Colin)
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AG
Just wrapping up the Valeant one. They've all been great so far.
txag2008
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AG
The Maple Syrup one was boring as all get out. YMMV
Aggie09Derek
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AG
txag2008 said:

The Maple Syrup one was boring as all get out. YMMV


Thought the same thing. Interesting story but not enough to make an episode on for this series on the first season.
administrative errors
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Dirty money + fed up = major frustrations for me. Would recommend both.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
brownbrick
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AG
I'd love to understand from Aggie druggist why some of these 40 year old drugs don't have generics in production. I understand they are orphan drugs with low patient numbers, but it seems impossible to me another company hasn't made these just to kill off valient.

I'm a huge free market guy, but that third episode is completely sick. I can understand why Trump wants legislation to address some of these things.
cgh1999
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AG
The HSBC one was shocking to me. Particularly in comparison to the level of punishment handed out to Wells Fargo recently. WFC opened fake accounts and cost customers a hundred million. HSBC laundered BILLIONS for drug dealers with a small slap on the wrist.
administrative errors
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cgh1999 said:

The HSBC one was shocking to me. Particularly in comparison to the level of punishment handed out to Wells Fargo recently. WFC opened fake accounts and cost customers a hundred million. HSBC laundered BILLIONS for drug dealers with a small slap on the wrist.
the rich get richer, pay off the politicians, allow money laundering, and when caught, get a minor flick on the forehead from the authorities (who've been paid off, or assume too big to fail).

The rich get richer, consolidate power and wealth, continue to bribe their way to favorable legislation, resulting in less competition, creating more consolidation.

I love the incentives we have in this world to allow this behaviour to lead the market, as if it were healthy.

I look forward to our AI overlords, humans can't handle power without corruption.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
helloag99
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John Maplethorpe said:

Documentary style. I've seen all the first season.

One episode is basically about Trump sucking at business and ripping people off in Atlantic City, Trump university etc.
I'd love to be a billionaire that sucks at business

you idiot trolls are relentless
helloag99
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nimrodag99 said:

John Maplethorpe said:

Documentary style. I've seen all the first season.

One episode is basically about Trump sucking at business and ripping people off in Atlantic City, Trump university etc.
I'd love to be a billionaire that sucks at business

you idiot trolls are relentless
That fat **** for the last few minutes is a POS
SACR
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AG

I watched it and enjoyed it, but it made me wonder if I should invest in HSBC. If a money laundering scandal only costs them 5 weeks of profit, what incentive do they have to change their behavior? They're basically bulletproof as a business.

As for the Valeant one, my only question was how Fahmi Quadir is still holding her shorts on VRX. She must not truly be shorting the stock, she must just be buying puts and rolling them over every time they expire.
---------------------------------------------------
"Now you're suggesting uncleanliness during a viral outbreak? What other great ideas you got Typhoid Mary[?]"

jamey, 3/13/20

-------------------------------------------------

"They log into each other's accounts and post. They probably are two different people but that doesn't matter much when you log into other peoples accounts."
Bocephus
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AG
Great show! Amazing that HSBC who contributed to 100,000 deaths gets the same fine as a payday loan guy, and the payday loan guy was the one who ended up with jail time.
Aggie09Derek
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AG
Loan guy while pretty despicable got screwed on the fine + that long of a jail sentence.
Diggity
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AG
SACR said:

As for the Valeant one, my only question was how Fahmi Quadir is still holding her shorts on VRX. She must not truly be shorting the stock, she must just be buying puts and rolling them over every time they expire.
had the same question. Also wanted to know if she was single.
CS78
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Diggity said:

Also wanted to know if she was single.
BARF!!! Man Jaws!
administrative errors
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I respect the thought from a "gains" perspective. But how can you throw money at something so clearly flaunting the laws/standards that the rest of us are forced at gunpoint to follow?
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
Bocephus
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AG
I don't think the shows producers voted for Trump
RangerRick9211
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AG
Aggie09Derek said:

Loan guy while pretty despicable got screwed on the fine + that long of a jail sentence.


I'm watching this right now.

I'm pretty frustrated for the guy. Appeals to morality and accusing this guy of being responsible for people's situations.

People who sought these loans were already in bad situations. They needed help, he supplied the product. They agreed to the terms. If the terms are confusing, that's on you to either have someone clarify or don't sign them.

As for laundering through the reservation. Lol, the GC and EPC world is wrought with HUB companies in name only. Nothing illegal, yet. Just playing the game.
Aggie09Derek
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AG
Quote:

If the terms are confusing, that's on you to either have someone clarify or don't sign them.
This is where we probably disagree...to me the terms were clearly misleading. The court should have stepped in and made them change the terms after so many complaints and maybe given some penalty, but jailtime was ridiculous.
RangerRick9211
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AG
I don't think we disagree. Yes, confusing and terrible terms.

No one was forced to agree to them is my point.
Aggie09Derek
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AG
Making it seem one way but the fine print which is hard to understand essentially screwing people.

They agreed to what they thought was the deal.

Even smart people could get screwed on these type of things and for sure the people taking out the payday loans did.

His punishment was ridiculous as was the fine (3x what they said he made). Should have been a $50 million dollar fine and no jail time or something.
SACR
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AG
RangerRick9211 said:

Aggie09Derek said:

Loan guy while pretty despicable got screwed on the fine + that long of a jail sentence.


I'm watching this right now.

I'm pretty frustrated for the guy. Appeals to morality and accusing this guy of being responsible for people's situations.

People who sought these loans were already in bad situations. They needed help, he supplied the product. They agreed to the terms. If the terms are confusing, that's on you to either have someone clarify or don't sign them.

As for laundering through the reservation. Lol, the GC and EPC world is wrought with HUB companies in name only. Nothing illegal, yet. Just playing the game.
It seems that a lot of these people had never used a payday loan before, or didn't understand what a payday loan entails. If you don't pay it off in two weeks time (hence: payday), the loan is rolled over and you get hit with significant fees. These 'fees' are what create the 500% APR for these loans.

It is interesting to me that these people found his payday loan services online, but never bothered to do any research into the business they were getting a loan or how payday loans work. It is one more Google search!!

A few years ago, my then-GF's older daughter wanted to go shopping for a t-shirt at a local store. She was 17 at the time. Near the store in the strip center was a Cash Store. I decided to teach her how these businesses work, and went into the store. I pointed out the sign that showed the 500%+ APR and talked to the employees there, but I could see 17YO was bored and more interested in going next door to the shoe store. We go to the shoe store to 'browse', and she immediately falls in love with this pair of shoes she just has to have that costs $40. She begs me to buy them for her, and when I refuse, asks to borrow $40 from me. I refuse to loan her money, and we drive home. As we're driving home, I decided to give her a real world example. I said, "You want to borrow $40? Okay, but what if I loan you $40 on the condition that if you can't pay me back the $40 in two weeks, I'm going to charge you a fee of $1 on every $5 you borrowed from me? So if you can't pay me back my $40, you have to pay me $8 to roll it over for another two weeks. That comes out to $16 a month, so at the end of the year, you will have paid me $192, but you still owe me $40."

She said, "I pay $192, but still owe you the original $40?"

Me: "Yes."

Her: "But that's stupid!!"

Me: "That's payday lending."
---------------------------------------------------
"Now you're suggesting uncleanliness during a viral outbreak? What other great ideas you got Typhoid Mary[?]"

jamey, 3/13/20

-------------------------------------------------

"They log into each other's accounts and post. They probably are two different people but that doesn't matter much when you log into other peoples accounts."
SACR
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AG
administrative errors said:

I respect the thought from a "gains" perspective. But how can you throw money at something so clearly flaunting the laws/standards that the rest of us are forced at gunpoint to follow?
The same way I happily invest in tobacco companies even though I know their products cause cancer. Whether I buy Altria or refuse to buy them on some moralistic grounds, they're still going to sell their product and people are still going to buy it. Similarly, we can outlaw drugs everywhere, it doesn't stop people from buying it.


Remove emotion from the decision, remember your goal is to make money, and execute your plan.
---------------------------------------------------
"Now you're suggesting uncleanliness during a viral outbreak? What other great ideas you got Typhoid Mary[?]"

jamey, 3/13/20

-------------------------------------------------

"They log into each other's accounts and post. They probably are two different people but that doesn't matter much when you log into other peoples accounts."
RangerRick9211
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AG
Quote:

Making it seem one way but the fine print which is hard to understand essentially screwing people.
I wholly agree their terms were unethical: intentionally obfuscated and difficult. Just like Comcast's, Apple's, or AT&T's terms. All with buried information about rate expirations or Apple's 20,000+ T&Cs just to use the iTunes store.

Additionally, I think the doc. did an excellent job of hyping the emotions with no explanation of the facts. Payday loans have terrible APRs because of what APR is. $100 loan with a $110 payback in a week is a 3,650% APR. Because it's Annual Percentage Rate being applied to a very short term loan. I'm even frustrated that the Attorney's office in NY just quoted the percentage; excluding 'APR' in their judgement.

Quote:

The Racketeering Influenced Corrupt Organizations ("RICO") Crimes

From at least 1997 until 2013, TUCKER engaged in the business of making small, short-term, high-interest, unsecured loans, commonly referred to as "payday loans," through the Internet. TUCKER's lending enterprise, which had up to 1,500 employees based in Overland Park, Kansas, did business asAmeriloan, f/k/a Cash Advance; OneClickCash, f/k/a Preferred Cash Loans; United Cash Loans; US FastCash; 500 FastCash; Advantage Cash Services; and Star Cash Processing (the "Tucker Payday Lenders"). TUCKER, working with MUIR, the general counsel for TUCKER's payday lending businesses since 2006, routinely charged interest rates of 600% or 700%, and sometimes higher than 1,000%. These loans were issued to more than 4.5 million working people in all fifty states, including more than 250,000 people in New York, many of whom were struggling to pay basic living expenses. Many of these loans were issued in states, including New York, with laws that expressly forbid lending at the exorbitant interest rates TUCKER charged. Evidence at trial established that TUCKER and MUIR were fully aware of the illegal nature of the loans charged and in fact prepared scripts to be used by call center employees to deal with complaints by customers that their loans were illegal.
https://www.justice.gov/usao-sdny/pr/scott-tucker-and-timothy-muir-convicted-trial-35-billion-unlawful-internet-payday

I guess I didn't realize how libertarian I was until I watched this! I found myself agreeing with the racing coach. The dude absolutely hustled people - but for the most part, by the rule book. Again, it's really hard to play victim when you're a voluntary participant in a contract.
LRHF
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AG
Thanks OP for posting, these segments are great!
rgag12
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AG
Bocephus said:

I don't think the shows producers voted for Trump


Yea, I've watched only the HSBC one and almost every single guest had some Democratic Party affiliation or known sympathy. Probably a result of Democrats being in control at the time of the "deal" struck and the producers' ties.

I laughed out loud every time they cut to Elizabeth Warren to give her "expert" views.
dc509
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AG
"If the Sinaloa Cartel had agreed not to do any more drug smuggling, would you also defer prosecution in their case?"

One of the best question I've ever heard asked.
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