They really tore that guy up!

Funny how everyone told the young chap that he is going to prison.

Nothing could be further from the truth. Our justice system doesn’t have the resources or the time to even give this guy a second thought.

Funny how the general public thinks our justice system has the ability to prosecute the majority of criminals. Prosecuters target people who will be highly publicized; aside from that, many folks out there get away clean.

Have a lot of people done the same thing as this young’n? Absolutely! So much so that nothing will happen to the thousands of people who committed bank fraud by lying on their loan applications.

I’ve got to share my story with you. Yesterday in the office, a co-worker of mine who got a lay off notice (60 days), an was walking through the builing talking to people before her time is up. In any event, the woman is not too happy after working here for over 15 years. She seemed depressed and hopeless.

However, she stopped by my cubicle all pale looking telling me that she now knows that now she doesn’t think she’s in such a bad shape after she got back from the Tech group. Apparently, one of the IT techs was now openly complaining about not being able to sell his 2nd house (investment house in Temecula). Needless to say, he’s stressing eveyone else in the group, and he’s probably going to loose his own house in SD along with that. By the way, did I mention he’s purchased a new Truck a couple a months ago?……I’m guessing some HELOC…..

This is what happens when your IT tech guy becomes a INVESTOR-FLIPPER. Above all this, our SD builing could be closed down, so the IT guy is stressed that he could possibly loose his job too…..I wonder how many like this around?

I find it funny how he acknowledges that he’s in bad shape yet he still has the cajones to ask for someone to bail him out and give him a little cash on top. He obviously still feels like he’s entitled to make some money even at this stage. This is incredible. I’d rather wait and buy them from the bank at a discount.

Yeah, and it’s only starting to hit him NOW that maybe he should go back to work full-time. I understand that he needed lots of time to visit with the bankers and fix up the props… but now he’s just in “stew mode” and has no exit strategy.

His timing could not have been worse. He got started on his “real estate investment journey” in January of this year. I’ve always thought by the time you hear about get-rich-quick schemes, it’s probably too late. This certainly applies here.

There’s a gal on the Housing Bubble Blog that has tracked his purchases in Texas – she has also cached all of his web pages, just in case he takes them down later. Someone else on the HBB has already reported him to the AG in Texas. A few others have checked him pretty thoroughly and say he’s bona-fide… I think he’s bonehead-fide myself.