Thursday links are refreshing

By Felix Salmon
April 30, 2009

Who’s Who of Financial Bloggers

Fiji water’s invite-mockery marketing strategy: Justin Fox on the age-old question of how and why Fiji Water exists as a product. I have another question, though: why is domestic sparkling water so hard to find?

Mighty Financier Ackman Defers to Mother-in-Law, Lists Majestic Co-op for $10 M.; Wanted $12 M: Check out the acid-green bedroom!

Comments
4 comments so far

Fiji-Water??? I think I just had a Brain-Interrupt here. I still don’t know what Fiji-Water is, or refers to, or has anything to do with economic matters. Is that what Felix Salmon is being touted about so highly on every Reuters’ article page?
It appears Reuters has let loose Mr. Salmon [That your real name, Sir?] on us to create a cheap version of The New York Post’s gossip page. They would have done better to merely hire Cindy Adams —”Only in New York, kids … Only in New York!”

Posted by Jeffrey B. | Report as abusive

One of the ways that Met Life looses money is by writing life insurance for the un-insurable.

At least one Armenian agent in it’s Glendale California Office simply pay an Armenian lab technician $500, to “switch” blood samples from the unhealthy applicants for life policies, with healthy persons.

This kind of moronic criminality in the DNA age is not remarkable. What is remarkable is Met’s response. Simply fire the agent in charge of the scam. And refuse to investigate, after a notice which clearly pinpoints a case of blood switching on a multi-million dollar policy.

Met failed to re-check all of the blood samples from all of this agent’s insurance sales, and failed to prosecute the agent, and in some cases, the living insured for Insurance fraud.

What is particularly amazing, is that a lab person would participate in this long running conspiracy for only $500 a policy.

For most people, it would seem like good business to pay for a $99 DNA test before paying out $2 Million in insurance death benefits, but not for Met Life.

The issue presented is: How far up the management ladder do the payoffs go?
If Feliz e-mails me personally, I will give him the names of the agents, and enough information to identify a blood-switching policy.

Arthur Doyle J.D.

Posted by Arthur Doyle, J.D. | Report as abusive

Several years ago, a number of employees at the Los Angeles office of the California Department of Real Estate figured out how to cash-in on the booming California mortgage market.

These rogue employees, some of whom may actually have been Deputy California Real Estate Commissioners decided to offer “Secret Special Qualification” for Brokers and Salesman’s licenses.

All one had to do was to put either $5,000 cash for a Brokers License, or $2,500 cash for a salesman’s license into a white envelope, and to visit the DRE employee after hours.

Several hundred Brokers licenses are believed to have been sold this way.

This way one would automatically either have their test grade changed to passing, or they would not even have to pass a test at all. None of the recipients were required to take any of the required classes.

The California Attorney general’s office and DRE Commissioner Jeff Davie have known about this for several years, but Mr. Davie believes that it would be more damaging for public confidence in the DRE to investigate which employees paid off their credit cards, bought real estate, and generally lived beyond their means than protecting the public.

A deputy DRE Commissioner in the LA DRE office decided to allow a broker “Hildegard Merrill” who admitted to stealing $50,000 from her disabled client, and who also admitted to a conspiracy to commit Bank Fraud, (a federal felony punishable with a maximum penalty of a $1,000,000 fine and 30 years in Federal Prison) to keep a brokers’ license, and to additionally continue to operate a Mortgage Company making Federally Insured Home Loans, in violation of federal law.

So if you pay enough, you can get absolution for violating federal laws form the all powerful California real estate Commissioner Jeff Davie.

You can read about Hildegard Merrill in the California Court of Appeal: Warren v. Merrill.

The issue presented is: How much do you have to bribe a DRE Deputy Commissioner to keep your brokers’ license after admitting that you conspired to commit bank fraud?

The DRE ought to publish a bribe schedule, because the public wants to know!

Why did DRE Commissioner Jeff Davie refuse to comply with my previous California Public Records act Requests?

Apparently the culture of criminality goes right to the top at the California DRE.

The DRE’s criminality allowed a number of members of LA Street gangs to expand their money laundering activities by using street gang real estate brokers.

Will the California citizens who lost their homes because of predatory DRE Brokers who bribed DRE employees to get licensed; be successful in having the state’s real estate recovery fund pick-up their entire loss, thereby creating another financial crisis for one of the states with the worst financial management history on earth?

Will the Terminator terminate his good buddy Jeff Davie, or will he participate in the cover-up?

Consider that the combined mortgage fraud of these specially licensed “Jeff Davie Special Brokers” likely caused more direct monetary damage to the United States that Osama Bin Laden did when he blew-up the world trade center.

Arthur Doyle, J.D.

Posted by Arthur Doyle, J.D. | Report as abusive

A number of years ago, the California court of appeal decided a case in which a father sued his son for slander for saying that the father had “engaged in the “pimpitorial arts”.

The court concluded that because the statement was true; because the father had been a pimp some 30 years ago, there could be no slander.

And the US Supreme Court considers these public figures and public corporation as held to the standard of NY Times v. Sullivan.

My allegations would be easily provable after my first wave of discovery if either party was foolhardy enough to sue me for libel.

Arthur Doyle, J.D.

Posted by Arthur Doyle, J.D. | Report as abusive
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