World’s Biggest Financial Fraud. For Now.

The Hairy Armpit Gang (HAG) works for their own best interests. Don’t get blinded by their alleged pedigree — education, supposed knowledge, or white collar persona. The Hairy Armpit Gang is made up of crooks. They are predators. You need to protect yourself to not become a next victim. You must take a leaf from their operating philosophy and work for your own best interests.

The HAG is another reason why you want to learn more about money. Why you must understand more, ask questions until you understand the issue, and feel confident enough to take care of your money. Then you can begin to trust. And verify (the information received, your account balance) often. No one will do it for you.

Financial Fraud Is UnAmerican

Financial fraud is bad. It hurts people and screws up our economy. The fraudsters do not care who gets caught in their trap. Financial fraud is fundamental disrespect for all of us.

If the fallout of the $700 Billion financial bailout package has not been made clear to you, let me share my thoughts. My mini rant. Listen up.

We are bailing out people and corporations who knowingly traded worthless securities around the globe. They HAD to know the value of packaged sub-prime securities was decreasing, and would continue to do so. They HAD to know the significant risk inherent in this class of securities. They HAD to know that some banks, investment houses and others would be left holding a bag of worthless paper.

What’s UP with that? How do you deliberately make decisions that will hurt the economy in your own country? What manner of privilege allows one to think he or she has the right to screw the people and the country? I don’t get it. Maybe I can’t get it because I’m not a member of this privileged American minority group. However, this reminds me of the insensitive arrogance of the corporate boards of directors that decided outsourcing American jobs was a viable way to grow their businesses. Whose best interests were they maximizing? What were they thinking?

What makes us think we can trust a bunch of self-serving, highly-privileged guys without regulatory oversight of their actions? What victim mentality allows us to delude ourselves into believing our monies are safe with these people? What naive part of us would have assumed they would “do the right thing?” Puhleese.

As the economy weakens, the unmasking of financial fraudsters will grow. There will be more like Bernard Madoff, “The Most Hated Man in New York.” Madoff was charged with one count of fraud last week, having confessed to creating a huge Ponzi scheme with estimated losses of $50 billion.

My Mom always said, “God bless the child that’s got her own.” I add, God bless the woman who knows how to manage her own.