Ever watch American Greed on TV?

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Abe
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Ever watch American Greed on TV?

Post by Abe » Sat Mar 09, 2013 5:23 pm

I've been watching it lately and it is just amazing to me how many people turn over their life savings to scammers and lose all their money. Most of them are pyramid schemes.

http://www.investopedia.com/articles/04 ... z2N5ERlMYE

Also amazing to me is how many scammers there are out there.
Slow and steady wins the race.

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Dale_G
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Re: Ever watch American Greed on TV?

Post by Dale_G » Sat Mar 09, 2013 6:07 pm

I don't boss my wife around much, but I strongly suggest that she we watch each and every episode.

As long as she keeps repeating, "That's too good to be true", I feel pretty safe.

Dale
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Toons
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Re: Ever watch American Greed on TV?

Post by Toons » Sat Mar 09, 2013 6:32 pm

Watch It All the time :happy
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market timer
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Re: Ever watch American Greed on TV?

Post by market timer » Sat Mar 09, 2013 7:03 pm

It's my favorite show.

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cheese_breath
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Re: Ever watch American Greed on TV?

Post by cheese_breath » Sat Mar 09, 2013 7:22 pm

Toons wrote:Watch It All the time :happy
Me too.
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save-early-often
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Re: Ever watch American Greed on TV?

Post by save-early-often » Sat Mar 09, 2013 7:37 pm

I politely 'ask' my daughter to watch them with me. Should be required viewing for High School students.

SammyG
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Re: Ever watch American Greed on TV?

Post by SammyG » Sat Mar 09, 2013 7:49 pm

I've been hooked for about 6 months. Great show.

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Re: Ever watch American Greed on TV?

Post by LadyGeek » Sat Mar 09, 2013 8:11 pm

This thread is now in the Personal Consumer Issues forum (TV show).

A related thread: Money Lessons From 'Downton Abbey'
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scrabbler1
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Re: Ever watch American Greed on TV?

Post by scrabbler1 » Sat Mar 09, 2013 10:07 pm

While it is not a must-see TV show, I do watch it from time to time if it is a good one and there is nothing else as good on TV at the time. I share with the others here the amazement that so many people get dupes by scams. But sometimes, the victims did nothing wrong and were at the wrong end of identity theft or some other criminal activity.

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Re: Ever watch American Greed on TV?

Post by jginseattle » Sat Mar 09, 2013 10:12 pm

Yes. It's entertaining and scary.

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norookie
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Re: Ever watch American Greed on TV?

Post by norookie » Sat Mar 09, 2013 11:02 pm

Read "The Vigilant investor", by Huddleson. Its a great read. 8-).
Last edited by norookie on Sun Mar 10, 2013 1:32 pm, edited 1 time in total.
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rec7
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Re: Ever watch American Greed on TV?

Post by rec7 » Sun Mar 10, 2013 9:34 am

This is my favorite one http://www.cnbc.com/id/100000105

Valuethinker
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Re: Ever watch American Greed on TV?

Post by Valuethinker » Sun Mar 10, 2013 11:54 am

Abe wrote:I've been watching it lately and it is just amazing to me how many people turn over their life savings to scammers and lose all their money. Most of them are pyramid schemes.

http://www.investopedia.com/articles/04 ... z2N5ERlMYE

Also amazing to me is how many scammers there are out there.
Be careful of Schaudenfreude-- the taking of pleasure in the misfortunes of others.

It suits a narrative that others are foolish and reckless, and we are not. That may well be true of money, but we all have a dark side:

'let he who is without sin, cast the first stone'

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Abe
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Re: Ever watch American Greed on TV?

Post by Abe » Sun Mar 10, 2013 1:21 pm

Valuethinker wrote:
Abe wrote:I've been watching it lately and it is just amazing to me how many people turn over their life savings to scammers and lose all their money. Most of them are pyramid schemes.

http://www.investopedia.com/articles/04 ... z2N5ERlMYE

Also amazing to me is how many scammers there are out there.
Be careful of Schaudenfreude-- the taking of pleasure in the misfortunes of others.

It suits a narrative that others are foolish and reckless, and we are not. That may well be true of money, but we all have a dark side:

'let he who is without sin, cast the first stone'
I don't know where you get the idea that I am taking pleasure in these victims misfortune. It actually makes me sad to watch it. People work all their lives, and then some scammer takes all their money. No, I do not take any pleasure in that. The reason I watch is so that I will be more aware of what's going on out there. After watching it a few times, I wonder if maybe someone might be doing it to me. That is the effect of the show.
Slow and steady wins the race.

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Abe
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Re: Ever watch American Greed on TV?

Post by Abe » Sun Mar 10, 2013 4:21 pm

I was watching the show recently when I realized that I recognized one of the victims. It was Lonny Scruggs. Lonnie is a well known real estate guru on the speaking circuit who has written several books and teaches seminars about how to create paper with mobile homes. The scammers name was Troy Titus, a lawyer. Lonnie lost half a million dollars in Titus's ponzi scheme. I have a couple of Lonnies books. I couldn't believe that someone as knowledgeable as Lonnie could get scammed like that, but he did. It's scary. It can happen to anyone.
Slow and steady wins the race.

fareastwarriors
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Re: Ever watch American Greed on TV?

Post by fareastwarriors » Mon Mar 11, 2013 7:37 pm

I sometimes catch it when it is on. Sad for those people but help viewers learn.

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Re: Ever watch American Greed on TV?

Post by davebo » Tue Mar 12, 2013 10:38 am

I love that show, but haven't watched it in a few years. There was a couple really cool episodes a few years back....one with a computer hacker named Max (somethng). Another one with a dude in LA that was making counterfeit money on a regular printer in his house. He used a special hairspray that reacts the same as a real $100 bill when you mark it with the special pen.

It's always interesting how they got caught. In his case, they narrowed it down because he was using the same serial number all all the money...and the serial number helped them pin down the location.

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Jerilynn
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Re: Ever watch American Greed on TV?

Post by Jerilynn » Sun Mar 17, 2013 11:34 am

I love it, one of my most favorite shows.

One theme that keeps recurring.....be vary wary of ANYONE if they are affiliated with your 'church'. Evidently con artists know that people will trust other folks that they see 'in church'. Very very sad.
Cordially, Jeri . . . 100% all natural asset allocation. (no supernatural methods used)

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Re: Ever watch American Greed on TV?

Post by Alex Frakt » Sun Mar 17, 2013 11:41 am

Locked. Topics on this subforum must be personal (see http://www.bogleheads.org/forum/viewtop ... 3&t=112988 for more details). Also off topic is "discussions of the crimes, shortcomings or stupidity of other people, whether they be political figures, celebrities, CEOs, Fed chairmen, subprime mortgage borrowers, lottery winners, federal "bailout" recipients, poor people, rich people, etc. Of course, you are welcome to talk about the stupid financial things you have done."

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