#economy
Consumerism, Sex, Advertising, and Evolutionary Psychology
Here’s yet another form of hidden bailout the federal government doles out to our big banks, without the public having much of a clue.
This is from the WSJ this morning:
Some of the biggest names on Wall Street are lining up to become landlords to cash-strapped Americans by bidding on pools of foreclosed properties being sold by Fannie Mae…
While the current approach of selling homes one-by-one has its own high costs and is sometimes inefficient, selling properties in bulk to large investors could require Fannie Mae to sell at a big discount, leading to larger initial costs.
In con artistry parlance, they call this the “reload.” That’s when you hit the same mark twice – typically with a second scam designed to “fix” the damage caused by the first scam. Someone robs your house, then comes by the next day and sells you a fancy alarm system, that’s the reload.
In this case, banks pumped up the real estate market by creating huge volumes of subprime loans, then dumped a lot of them on, among others, Fannie and Freddie, the ever-ready enthusiastic state customer. Now the loans have crashed in value, yet the GSEs (Government Sponsored Enterprises) are still out there feeding the banks money through two continuous bailouts.
Congratulations, America, your quasi-governmental housing entity is about to subcontract out mass-landlording/slumlording jobs to the likes of John Paulson and Warren Buffett…
twice now, i have been called by scammers pretending to be bankers telling me i’d been scammed by someone else, and that they, the scammer/banker, would cancel the fraudulent transactions made in my name as soon as i gave them a bit of information to confirm my identity.
the second guy called me from my local bank branch’s number and told me “someone in another city is attempting to make purchases with your debit card information” and after i expressed obvious distress he told me “don’t worry, this is what i’m here for. we’re going to get your cards/accounts cancelled/closed and then we’ll all i need you to do is verify the 6-digit code that i’ve sent to your phone”
that 6-digit code was the code to reset my online banking password which i didn’t realize at the time. he then got into my online banking account and e-transferred himself $2,800. my bank reclaimed the money but i had to close my bank accounts, then open new bank accounts, cancel my debit and credit cards, get new debit and credit cards, alert two credit unions that i was a victim of fraud, change all my fucking passwords, etc etc
sorry if this shit is obvious to other people but it was not to me so:
if someone calls you, claiming to be from your bank telling you that there are suspicious charges on your account, hang up on themandcall the number on the back of your debit card. worst case scenario, you hung up on someone and called a different person back but at least now you know you’re talking to someone from the bank. best case scenario, you just hung up on a scammer and are already on the line with someone to report it.
keep your head on a fucking swivel out there
oh that is awful. i actually just had training at my job about how to spot a scam and unfortunately the incidence of phone scams has gone up MASSIVELY over the last several years.
op, i am so, so sorry you went through that and i hope that your funds get recovered. <3 that is a terrible thing to go through.
for other folks who may not know what to look for, here are some things to keep in mind to try to avoid a scam:
is an institution contacting you out of the blue?
even if it’s a company or agency you trust, it’s generally unusual to be contacted if you aren’t expecting a call. and like in the op’s case, scammers will often pretend to be from an institution you likely already know and trust. she is absolutely right to recommend that you hang up and call a verified number. any legitimate agency should already have your personal information on file and should not ask you for it by phone, text, or email out of the blue.
scammers can easily spoof the number they call from and the name on the caller id, and will sometimes even create a soundscape in the background to make it more convincing.
are they creating some kind of pressure to act?
this can come in the form of either a carrotor a stick. in some cases, they’ll offer some kind of prize in exchange for your help, like claiming abandoned money or getting access to lottery winnings. in others, they need you to help them with a problem, like claiming that they’re trying to help a relative but can’t do in their own.
are they creating a sense of urgency?
the pressure of a deadline makes it more difficult to stop and think about whether the call is trustworthy–the exact kind of thing that would prevent them from stealing your shit. often, they’ll try to ramp up the tension of the situation by putting pressure on you.
i’ve even heard of cases where they correctly spoof caller id information from a relative of the person they’re calling (like a grandchild) and claim that the relative was in a car accident and they won’t call 911 unless you send them money.
are they telling you to send money using a specific method?
this doesn’t really apply to op’s situation, but often, scammers will ask you to send them money using a particular method like gift cards or money transfers. similarly, don’t ever deposit a check and send money “back” to somebody–it may end up bouncing and then you are out whatever you sent them.
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final tips:
it may help to run through some scenarios in your head or read about examples of common scams BEFORE you’re on the phone with someone trying to steal your shit, and try to take some time to really think about how you will respond if you get a phone call like that.
and lastly, if it does happen to you, it is not your fault. these people are professional bastards and they make it their work to find vulnerabilities and exploit them.
there’s nothing wrong with you for assuming that strangers aren’t going to violate your trust. this shit istraumatic, and it may be worth looking into professional supports like therapy if that’s something you think will help.
if you have been scammed or think you saw a scam, report it to the FTC if you’re in the US (folks in other countries, feel free to add your relevant reporting agency). they can’t always recover your funds, but scammers can’t be stopped if they don’t get reported.
<3
In terms of scams involving Law Enforcement:
First and foremost, a LEGITIMATE call would go something like:
“I’m Officer/Deputy/Detective/Investigator LastName from Department. I am calling you concerning x.”
Request their badge number, if they have not provided it yet.
If they ask for any of the following, fucking HANG UP.
- Money
- Banking/Financial information
- Your Social Security Number
When in doubt, inform the officer that you are going to call their department back to verify their identity. This is ROUTINE, especially by businesses that deal with secure information like Banks and Insurance.
If they claim that there is a major Fine or warrants or whatever out for you, inform them that you are going to call the Court directly about it and/or that you want to meet in person at the Department to sort things out.
Any sort of legal paperwork MUST be served to you IN PERSON. There’s no handling a Warrant or Summons or other court paperwork over the phone. Personal Service is required, so anyone trying to get you to do anything over the phone OTHER than arrange a meeting for Service is scamming you.
Fines are handled through the court, so an Officer is never going to attempt to collect.
Anyone telling you that they need a code NOW to handle fradulent claims is a liar. The wheels of paperwork turn slow and always need a few days to be processed fully. If anyone is trying to make you give up something, anything, now, hang up immediately and call the institution itself to report fraud.
“The Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power, pure power.”
Post link
Overview:
This is a 自媒体 talk show abouteconomy and politics. I really enjoy the format of the videos and Wong Kim speaks very clearly and methodically that his videos keep you interested.
Access the resource:
https://www.youtube.com/channel/UC8UCbiPrm2zN9nZHKdTevZA
Whats good about it?
- Updated twice daily, videos are 1 hour long, the news analysis section is about 30 minutes
- Some videos include subtitlesthat you can select in either English or Chinese
- The format of each video is the same, discussion of a topic and then an analysis of the news and then discussion with viewers at the end. Once you listen to a few videos you’ll become familiar with the format
- Keep up to date with current events as well as improving Chinese.
On a side note:
Whenever you watch news, of course every media outlet has their own stance/position so I encourage everyone to listen widely to differing opinions to really understand Chinese culture/politics (a journey I am currently on too!). Remember the majority of opinions ‘inside the wall’ will be different to those ‘outside’. I will try to share both types of resources. I also will try to share western media that has Chinese news outlets as well as in my recent journey of studying Chinese economy and politics I think listening to all differing voices is very important to form your own understanding!
