Were there is money; there will be fraud and scams. So it should not come as a surprise that there will be financial scams galore following the Obama Administration’s stimulus plan. Grifters and con-artist will be the highest growing employment opportunity in this country as they try to scam innocent people out of their money. We as a nation and as a people need to be vigilant to avoid becoming a statistic. No one should ever give out personal or financial information to anyone, especially people we do not know. If you think I am crazy, remember all the fraud, scams, and embezzlement that happened in the rebuilding effort of New Orleans after Katrina. People scammed innocent bystanders out of their stimulus checks last year and nothing will change this year or in the future. Con-artists will pose as financial advisors, IRS employees, creditors, politicians, or as anyone to trick us into giving them our personal information.
Unfortunately, the Obama Administration has not factored monies lost to scams and fraud into his stimulus plan. Yes, he is being naïve if he does not think his plan will lose any money to scams. We never learn our lesson and place little oversight in legislation to avoid becoming a victim of a scams. Scams can happen on a small or large scale. The federal government is currently investigating several large cases of stimulus fraud in the recent Troubled Asset Relief Program (TARP). The cases include mortgage fraud, tax evasion, insider trading as well as on potential bank “cooking their books” to qualify for TARP relief. Nobody should be surprised by these actions of people and large institutions. Fraud goes wherever there is large federal government spending. Doctors cost the government billions every year in fraudulent Medicaid and Medicare claims. Doctors routinely will put down a higher paying ailment for patients to pad their income. Fraud and scams follow every large federal government social program such as welfare. This is nothing new. People are “licking their chops” to get a piece of the trillions that Obama is flooding into our economy. I bet these con-artists cannot wait for that next trillion in government spending for “universal health coverage”.
Blog Site: http://patrickbohan.blogtownhall.com/
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