US Financial Quagmire Bringing Out the Scammers

Posted by timothy on Thursday October 9, 2008 @01:22PM from the brother-where-is-your-empathy? dept.

coondoggie contributes this snippet from NetworkWorld: "You could probably see this one coming. With all of the confusion and money involved you knew there would be cyber-vultures out there looking to cash in. Well the Federal Trade Commission today issued a warning that indeed such increased phishing activities are taking place. Specifically the FTC said it was urging user caution regarding e-mails that look as if they come from a financial institution that recently acquired a consumer's bank, savings and loan, or mortgage. In many case such emails are only looking to obtain personal information — account numbers, passwords, Social Security numbers — to run up bills or commit other crimes in a consumer's name, the FTC stated."

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Of course, it was caused by scammers. by jcr · 2008-10-09 14:22 · Score: 0, Flamebait

As long as we put up with fiat currency, this kind of thing is bound to happen over and over.
-jcr

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The only title of honor that a tyrant can grant is "Enemy of the State."
Re:That has nothing to do with the problem. by Mesa+MIke · 2008-10-09 15:42 · Score: 0, Flamebait

Seems more like it's too much regulation that's caused the problem.
Banks were basically forced by regulation to lend money to people who wouldn't qualify, absent the coercion.
Re:well ... by terbo · 2008-10-09 17:59 · Score: 0, Flamebait

Isn't that how they initially became Americans in the first place? (ducks)

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If you're interested in facts I'll tell you what they are and I'll give you sources - Chomsky on The Big Idea