American Greed new season kicks off on Saturday

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BeachPerson
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American Greed new season kicks off on Saturday

Post by BeachPerson »

The CNBC show American Greed kicks off a new season on Saturday, January 21 at 10:00. Four years ago, I became hooked on the show. Often on the weekends and late night during the week, reruns of the other episodes would are shown. I became hooked. A learning experience of the bad people and scams out there.
From Jack Brennan's "Straight Talk on Investing", page 23 "Living below your means is the ultimate financial strategy"
Biffer
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Re: American Greed new season kicks off on Saturday

Post by Biffer »

...and Stacy Keach is back as Narrator. Awesome.
asif408
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Re: American Greed new season kicks off on Saturday

Post by asif408 »

Thanks for the heads up. Great show. Always learn new way scammers and shysters can screw people out of money.
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Re: American Greed new season kicks off on Saturday

Post by LadyGeek »

This thread is now in the Personal Consumer Issues forum (TV show).
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criticalmass
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Re: American Greed new season kicks off on Saturday

Post by criticalmass »

This is a good show, but gets repetitive. Most of the scams highlighted are ponzi schemes. It is like watching Gilligan's Island with a new cast every week. Every episode retains the same plot, with some variations and a new set of scammers/victims. A friendly and likeable person attracts investment money from friends, neighbors, business partners, church members, etc with promises of good returns. Eventually something happens that makes a bunch of people want their money out, the money can't be found, and when the schemer can't delay any longer the scheme collapses. Everyone loses, except the scammer until the scammer ends up in jail or flees the country without remorse. The FBI gets involved, gathers evidence and assists the attorney general/DA/prosecutor to prosecute the scammer. The slim amount of money that can be found is returned to the victims. Assets (if any) are sold, with proceeds going to the victims. Even so, the victims lose their shirts. Sometimes the scammer already blew the money on services and intangible assets, so the victims get even less.

Once in a while, there are alternative stories, like drug scams, but they could put Ponzi scheme in the show's title.

Moral of the story is do not be greedy and look for high returns from friendly folks. Buy Vanguard Total Stock Market index instead, and wait until the long term.
Last edited by criticalmass on Tue Jan 24, 2017 12:22 am, edited 1 time in total.
BW1985
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Re: American Greed new season kicks off on Saturday

Post by BW1985 »

criticalmass wrote:This is a good show, but gets repetitive. Most of the scams highlighted are ponzi schemes. It is like watching Gilligan's Island with a new cast every week. Every episode retains the same plot, with some variations and a new set of scammers/victims. A friendly and likeable person attracts investment money from friends, neighbors, business partners, church members, etc with promises of good returns. Eventually something happens that makes a bunch of people want their money out, the money can't be found, and when the schemer can't delay any longer the scheme collapses. Everyone loses, except the scammer until the scammer ends up in jail. The FBI gets involved, gathers evidence and assists the attorney general/DA/prosecutor to prosecute the scammer. The slim amount of money that can be found is returned to the victims. Assets (if any) are sold, with proceeds going to the victims. Even so, the victims lose their shirts. Sometimes the scammer already blew the money on services and intangible assets, so the victims get even less.

Once in a while, there are alternative stories, like drug scams, but they could put Ponzi scheme in the show's title.

Moral of the story is do not be greedy and look for high returns from friendly folks. Buy Vanguard Total Stock Market index instead, and wait until the long term.
It's true, many of the shows are the same type of scam. I watch them on-demand and search for an interesting story line before I pick one to watch.
Chase the good life my whole life long, look back on my life and my life gone...where did I go wrong?
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Abe
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Re: American Greed new season kicks off on Saturday

Post by Abe »

criticalmass wrote: Moral of the story is do not be greedy and look for high returns from friendly folks. Buy Vanguard Total Stock Market index instead, and wait until the long term.
Every once in a while, the thought occurs to me: Could Vanguard be a ponzie scheme? Seriously though, the show makes me more aware of all the scams out there. I see these people getting scammed and the first thing I think is that would never happen to me. But then I think, maybe it could. It's best to be vigilant and not take anything for granted.
Slow and steady wins the race.
mickroark
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Re: American Greed new season kicks off on Saturday

Post by mickroark »

John Elway of the Denver Broncos got scammed out of mucho cash from one of these type of scammers. So its good to know very smart people can be scammed too. Never let your guard down.

ps! Scammer either committed suicide, or is in prison I can't remember.
SouthernCPA
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Re: American Greed new season kicks off on Saturday

Post by SouthernCPA »

This is one of my favorite shows. The auditor inside of me likes to think how I would identify the fraud while I'm watching the show...
sco
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Re: American Greed new season kicks off on Saturday

Post by sco »

mickroark wrote:John Elway of the Denver Broncos got scammed out of mucho cash from one of these type of scammers. So its good to know very smart people can be scammed too. Never let your guard down.

ps! Scammer either committed suicide, or is in prison I can't remember.

I'm interested in what makes John Elway a very smart person?
Pacific
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Re: American Greed new season kicks off on Saturday

Post by Pacific »

sco wrote:
mickroark wrote:John Elway of the Denver Broncos got scammed out of mucho cash from one of these type of scammers. So its good to know very smart people can be scammed too. Never let your guard down.

ps! Scammer either committed suicide, or is in prison I can't remember.

I'm interested in what makes John Elway a very smart person?
Oh, not meeting the ridiculous salary demands of one Brock Osweiler is one thing.
crozbee
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Re: American Greed new season kicks off on Saturday

Post by crozbee »

sco wrote:
mickroark wrote:John Elway of the Denver Broncos got scammed out of mucho cash from one of these type of scammers. So its good to know very smart people can be scammed too. Never let your guard down.

ps! Scammer either committed suicide, or is in prison I can't remember.

I'm interested in what makes John Elway a very smart person?
He does hold an economics degree from Stanford.
sco
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Re: American Greed new season kicks off on Saturday

Post by sco »

crozbee wrote:
sco wrote:
mickroark wrote:John Elway of the Denver Broncos got scammed out of mucho cash from one of these type of scammers. So its good to know very smart people can be scammed too. Never let your guard down.

ps! Scammer either committed suicide, or is in prison I can't remember.

I'm interested in what makes John Elway a very smart person?
He does hold an economics degree from Stanford.
Didn't realize that..
TravelGeek
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Re: American Greed new season kicks off on Saturday

Post by TravelGeek »

Is there a way to stream it for free? Neither Amazon Prime video nor Netflix seem to have it (even old seasons). And the CNBC website wants me to use the iPad app, which in turn wants me to log into my cable provider account (which I don't have as a cord cutter). Never understood why many channels don't just stream it with commercials.
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cookymonster
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Re: American Greed new season kicks off on Saturday

Post by cookymonster »

TravelGeek wrote:Is there a way to stream it for free? Neither Amazon Prime video nor Netflix seem to have it (even old seasons). And the CNBC website wants me to use the iPad app, which in turn wants me to log into my cable provider account (which I don't have as a cord cutter). Never understood why many channels don't just stream it with commercials.
This doesn't really answer your question, but I watch old seasons over the antenna on a channel called Escape.

http://www.escapetv.com/show/american-greed/
TravelGeek
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Re: American Greed new season kicks off on Saturday

Post by TravelGeek »

Thanks. That network doesn't seem to be available in my neck of the backwoods, but your post reminded me that it's probably time to rescan for new antenna channels.
vkolli
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Re: American Greed new season kicks off on Saturday

Post by vkolli »

Check youtube. Most episodes are available to stream.
CedarWaxWing
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Re: American Greed new season kicks off on Saturday

Post by CedarWaxWing »

mickroark wrote: Mon Jan 23, 2017 5:09 pm John Elway of the Denver Broncos got scammed out of mucho cash from one of these type of scammers. So its good to know very smart people can be scammed too. Never let your guard down.

ps! Scammer either committed suicide, or is in prison I can't remember.
Elway had a degree in economics, and got scammed? So is he really "very smart" ?
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