"OpposResidentLexusGuy - USE20, XF20, XU30 and Press Cars" (jakeauern)
04/10/2018 at 10:20 • Filed to: None
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"OpposResidentLexusGuy - USE20, XF20, XU30 and Press Cars" (jakeauern)
04/10/2018 at 10:20 • Filed to: None | 0
| 2 |
I actually feel bad for the guy... All three arms of the story did something ridiculous - Tuckers business, the people that borrowed the money, and the government. Here’s my quick thoughts.
While the Indian Tribe and Shell Company stuff seems very sketchy, that is actually quite normal, and was a good workaround of the system of states that don’t allow payday lending. The service charges were insanity but I wonder how much of that was in the original business pan, and how much was added later as the company got bigger. At a certain point you are so removed from what happens you may not know what is happening or to what extent things are happening near the bottom.
The customers I feel the most bad for, but people should know Payday borrowing is not cheap, and there are many times catches in which they should have been looking for. They also probably should have done a better job monitoring what was happening.
Then there is the government... RICO charges... Really??? Sending in FBI Agents to their houses at 7am in full tactical gear when there were children present and pointing shotguns at them... Really??? Trying to make a point of one guy.... Really??? Dragging those race cars up in the most careless manner possible... Really??? Then there is the FTC and their guilty until proven innocent ways of prosecuting... All this and then the next episode was about HSBC laundering money for Terrorist groups and Cartels... They got a slap on the wrist of a months revenue fine. Nice.
valsidalv, reminding you that infiniti is an option
> OpposResidentLexusGuy - USE20, XF20, XU30 and Press Cars
04/10/2018 at 11:12 |
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At a certain point you are so removed from what happens you may not know what is happening or to what extent things are happening near the bottom.
If you have 1000 employees and someone is running some kind of scam that benefits only them (like the plot of Ghost ) then I’ll agree with your statement. But this was nothing like that, at all. It was cleverly-written and obfuscated text that was the foundation of his lending business. The fact that the salespeople were instructed to obscure information from customers implicates management and leadership.
SPAMBot - Horse Doctor
> OpposResidentLexusGuy - USE20, XF20, XU30 and Press Cars
04/10/2018 at 11:38 |
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I have very similar takeaways from that episode. I’m not saying what he was doing wasn’t sketchy and he is a good person. But, the whole prosecution seemed like a vendetta / witch hunt. The HSBC episode right after really sealed my opinion on the Scott Tucker episode. This dude who
technically
did nothing illegal (sketchy yes) gets a bigger fine than a huge global bank that repeatedly broke Federal and international anti-laundering laws. As Kanye once said, that shit Cray.