tag:blogger.com,1999:blog-1001156153899984046.post3833642917112216367..comments2024-03-28T13:46:02.547-04:00Comments on Jungle Red Writers: The Secrets to the SchemeJungle Red Writershttp://www.blogger.com/profile/16646429819267618412noreply@blogger.comBlogger30125tag:blogger.com,1999:blog-1001156153899984046.post-13882775945465808042018-02-09T09:39:32.179-05:002018-02-09T09:39:32.179-05:00They say a sucker is born every minute, and I fear...They say a sucker is born every minute, and I fear this is true enough that the con artists will always be waiting in the wings with their get rich quick schemes. Even if the scheme is dripping with appropriate legal terminology and backed by US regulations, it doesn't mean it's not a con. So, to answer your question, no we have not learned our lesson. Sasscer Hillhttps://www.blogger.com/profile/05855348330942561488noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-15972811628333705872018-02-09T08:36:53.599-05:002018-02-09T08:36:53.599-05:00Wow! I'm glad they were convicted! Score one f...Wow! I'm glad they were convicted! Score one for the good guys. Lisa Blackhttps://www.blogger.com/profile/02544124715559107533noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-73048531423421871462018-02-08T21:54:17.733-05:002018-02-08T21:54:17.733-05:00Lisa, I MUST read this book! For most of my workin...Lisa, I MUST read this book! For most of my working life I've worked in real estate-areas. I have personal knowledge of some of the situations you mentioned. One of the nicest people I ever met was convicted of one of the practices you mentioned, and one of the sleaziest people I ever met pretty much said "they'll never be able to prove I did it."<br /><br />One of my relatives worked for a developer that she claimed was involved in a type of mortgage fraud. She even left her job because she said she was convinced he was a crook. Since she tended to be dramatic I didn't believe her, and I said that what she described would have had to involve more than one person. She said she was pretty sure she knew who the other person was. To make a long story short, her boss --and the person that she said was his accomplice--were arrested, convicted, sent to prison.<br /><br />DebRo Deb Romanohttps://www.blogger.com/profile/01650858888197217258noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-15016941200970592882018-02-08T20:30:24.666-05:002018-02-08T20:30:24.666-05:00BRAVO to you! Such an important topic.BRAVO to you! Such an important topic.Denise Annhttps://www.blogger.com/profile/02790883493798517829noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-52058895041233370042018-02-08T14:27:30.345-05:002018-02-08T14:27:30.345-05:00The book begins with the brutal murder in a very e...The book begins with the brutal murder in a very expensive home, where the killer seems to have gotten in and floated back out without leaving any trail. Maggie and Jack get a crash course in financing when they investigate the woman's cutthroat employees, disgruntled customers and frustrated regulators. Lisa Blackhttps://www.blogger.com/profile/02544124715559107533noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-28797562210630146002018-02-08T13:51:24.525-05:002018-02-08T13:51:24.525-05:00Lisa, the book sounds fascinating!! I haven't ...Lisa, the book sounds fascinating!! I haven't seen The Big Short but it and Perish are going on my list. Can you tell us a little more about the book?Deborah Crombiehttps://www.blogger.com/profile/16988750789088153601noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-83111820029987682462018-02-08T13:41:09.119-05:002018-02-08T13:41:09.119-05:00That worries me too, when I see articles about the...That worries me too, when I see articles about the goings-on in Washington and read that so-and-so wants to 'scale back' the banking restrictions put in place after the crisis...WHAT? Do you even hear what you're saying? Lisa Blackhttps://www.blogger.com/profile/02544124715559107533noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-29619749149925529782018-02-08T13:37:26.116-05:002018-02-08T13:37:26.116-05:00That is amazing!That is amazing!Lisa Blackhttps://www.blogger.com/profile/02544124715559107533noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-22030469335640008552018-02-08T13:27:15.873-05:002018-02-08T13:27:15.873-05:00Lisa, I think PERISH sounds fabulous!
I worked in...Lisa, I think PERISH sounds fabulous!<br /><br />I worked in banking for more than a decade, so I understand the issues pretty well. But it's still hard for me to understand how the checks and balances got so eroded as to make these issues possible. <br /><br />The closest thing I have to a personal story is that during the housing bubble, I had a guy on the phone trying to sell me on refinancing to a variable rate mortgage. I said absolutely no way, and when he asked why, I told him I was old enough to remember mortgage rates around 17%. He said to me, "You don't actually believe rates will ever go into the double digits again, do you?" I just sat there agape, marveling at the hubris and cluelessness. Finally I said, "Yes. I do. Or at least, I think it is well enough within the realm of possibility that it is a chance I will never take." Needless to say, we weren't on the phone long after that.Susanhttps://www.blogger.com/profile/08292993485984273172noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-41043729737284253882018-02-08T13:19:37.978-05:002018-02-08T13:19:37.978-05:00I know exactly what you mean. I was in college and...I know exactly what you mean. I was in college and was all "Yay, I can buy stuff!"<br /><br />Then the bill arrived. Sheesh.<br /><br />Mary/LizLiz Millironhttps://www.blogger.com/profile/04919409969263609919noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-26988523579828030082018-02-08T13:04:01.728-05:002018-02-08T13:04:01.728-05:00Thanks!Thanks!Lisa Blackhttps://www.blogger.com/profile/02544124715559107533noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-66430843217553523682018-02-08T12:57:12.257-05:002018-02-08T12:57:12.257-05:00Lisa, I have a feeling with all of the deregulatio...Lisa, I have a feeling with all of the deregulation happening that you're actually on point with this book. I am fascinated by the unchecked greed many in the financial world seem to have - so of course, I am really looking forward to reading PERISH. Congrats on your release! Jenn McKinlayhttps://www.blogger.com/profile/03214926031147370862noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-58404277219690130792018-02-08T11:35:39.553-05:002018-02-08T11:35:39.553-05:00Oh, watch The Big Short! It explains derivatives ...Oh, watch The Big Short! It explains derivatives so perfectly--think: fish soup. (Now are you intrigued?)<br /><br />Did you worry, when you wrote the book, about making sure all your financial facts were correct? I remember being terrified to write about mortgage lending--I was always checking and re-checking with real bankers about whether my scam would have/could have worked.Hank Phillippi Ryanhttps://www.blogger.com/profile/07630366214207785339noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-57496657373899964592018-02-08T11:27:07.871-05:002018-02-08T11:27:07.871-05:00I had read Too Big to Fail long before I thought a...I had read Too Big to Fail long before I thought about writing the book. I really wanted to write about the 2008 financial crash step-by-step, but that was impossible to transport to 2017 Cleveland, so I wound up writing more about predatory lending. Maybe someday I'll write a standalone about the crash. It did help me understand a lot about what happened, and what I saw on the news, but I still don't consider myself an 'expert.' I still can't wrap my head around what a derivative is! (Though I'm comforted by popular wisdom that says a lot of people who work on Wall Street don't understand them either!)<br />I don't really know anyone personally crushed by predatory lending, though I saw the wave of foreclosures every day in both Cape Coral and Cleveland. Lisa Blackhttps://www.blogger.com/profile/02544124715559107533noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-12167614804887182412018-02-08T11:17:18.095-05:002018-02-08T11:17:18.095-05:00It is frightening how many greedy, amoral people a...It is frightening how many greedy, amoral people are out there. As long as they come out ahead they don't care who is hurt. Maybe the judges need to determine prison sentences based on the number of victims.Pat Dhttps://www.blogger.com/profile/12732230586783432052noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-16850056715792542362018-02-08T11:13:54.450-05:002018-02-08T11:13:54.450-05:00It was unsettling and I felt as if I betrayed the ...It was unsettling and I felt as if I betrayed the house. The practice was rampant at the time. We asked the buyer if he was buying to flip. Wouldn’t have sold to him if he had admitted it. He even made a big show of bringing his fiancée over. Worse, he tore out all the charming Midcentury modern features and “modernized” them. Ugh!Kaithttps://www.blogger.com/profile/07758348842858993203noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-71320209813136598632018-02-08T10:58:38.036-05:002018-02-08T10:58:38.036-05:00Congrats on the book, Lisa! Can you tell us a bit...Congrats on the book, Lisa! Can you tell us a bit more about the research you had to do? Did it make sense to you right away or was there a steep learning curve? Do you know people who've been personally impacted by this practice?Ingrid Thofthttps://www.blogger.com/profile/04063912686011336076noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-77662596751387885192018-02-08T10:56:50.311-05:002018-02-08T10:56:50.311-05:00Usually I, too, glaze right over with this kind of...Usually I, too, glaze right over with this kind of subject, but the blog is fascinating. And we have politicians pressing to deregulate what got fixed after the last disaster. it astonishes me how easy it is to repeat rotten history...<br /><br />Lisa, would love to hear a little more about the new book!Lucy Burdette aka Roberta Isleibhttps://www.blogger.com/profile/04660402177299546055noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-59614720564850458482018-02-08T10:38:01.969-05:002018-02-08T10:38:01.969-05:00 I remember my first credit card, yikes. It felt l... I remember my first credit card, yikes. It felt like free money, you know? Until the boom got lowered. :-)Hank Phillippi Ryanhttps://www.blogger.com/profile/07630366214207785339noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-42558777720269413652018-02-08T10:37:28.026-05:002018-02-08T10:37:28.026-05:00 Yes, I do too. But as an author, sometimes you ha... Yes, I do too. But as an author, sometimes you have to fight the battle of how… Inside they are, you know? Computers and phones and emails and files. Hank Phillippi Ryanhttps://www.blogger.com/profile/07630366214207785339noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-70734394152390058412018-02-08T10:33:25.669-05:002018-02-08T10:33:25.669-05:00Thanks!Thanks!Lisa Blackhttps://www.blogger.com/profile/02544124715559107533noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-20653950116425114102018-02-08T10:04:41.549-05:002018-02-08T10:04:41.549-05:00Kait— that’s kind of unsettling, isn’t it? How do ...Kait— that’s kind of unsettling, isn’t it? How do you feel about that? Hank Phillippi Ryanhttps://www.blogger.com/profile/07630366214207785339noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-48811578991998593272018-02-08T09:16:31.800-05:002018-02-08T09:16:31.800-05:00Yes, The Big Short was amazing, highly highly reco...Yes, The Big Short was amazing, highly highly recommended—and really a master class in making a difficult and complicated subject fascinating.<br />My book Truth Be Told has an understory about what really could be going on inside those empty foreclosured houses— and it’s a scheme that I really think could work in real life, too! Who knows, maybe it is…<br />And I devour the business pages in the newspaper… Do you?<br />Hank Phillippi Ryanhttps://www.blogger.com/profile/07630366214207785339noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-75179192714960313502018-02-08T09:15:30.293-05:002018-02-08T09:15:30.293-05:00I loved "The Big Short" and found it did...I loved "The Big Short" and found it did a great job of being entertaining AND highlighting a real problem.<br /><br />I'm afraid predatory lending (including how ridiculously easy it is to get a credit card) will never be dated.<br /><br />Mary/LizLiz Millironhttps://www.blogger.com/profile/04919409969263609919noreply@blogger.comtag:blogger.com,1999:blog-1001156153899984046.post-74871395710920212742018-02-08T09:12:16.681-05:002018-02-08T09:12:16.681-05:00This comment has been removed by the author.Hank Phillippi Ryanhttps://www.blogger.com/profile/07630366214207785339noreply@blogger.com