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Poor Akers and some former Eagles players

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  • Poor Akers and some former Eagles players

    49ers K David Akers lost $3.7 million in ponzi scheme

    Man, I feel bad for the guy. Kickers don't make that much money so losing this huge amount sure put a dent in his saving and screwed up his life. NFL players need to diversify and not put everything on one nest egg. Lesson learned I hope.

    http://www.thepostgame.com/blog/dish...n-ponzi-scheme

  • #2
    I can't feel bad for stupidity, even if it's in the case of a nice guy like Akers.

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    • #3
      Originally posted by Susquehanna Birder View Post
      I can't feel bad for stupidity, even if it's in the case of a nice guy like Akers.
      Why do people always blame the victim? By most accounts this was a legitimate looking financial services firm who was engaged in massive fraud.

      A core part of fraud is deception.

      If you were a member of a union who invested their pension fund money in some of those AAA rated but actually completely shitty mortgage funds does that make you stupid?

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      • #4
        If fraud was so easy to spot, there wouldn't be so many victims out there! I don't think you can go through life without getting scammed once. The trick is, don't let the scam ruin your life or make the damage so bad, it takes years of your life to repair it.

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        • #5
          eh?

          Most people blame NFL players for just wasting their money. Now a guy seeks financial advice, gets hosed by a liar, and you blame him?

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          • #6
            Koy and Ty Detmer were the ones who introduced him to the guy. Apparently they lost money too.

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            • #7
              Why is this "news"? Just because the case is finally going to court? This was first reported years ago. ( ... and I was like 3 days "late"?! JEEEEEZ!)

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              • #8
                Savvy people who do their homework normally aren't swindled by ponzi schemes. People who suckered into unrealistic returns for their money are swindled by ponzi schemes.

                Akers is a great guy. But it's pretty clear that he didn't do his homework, and he unwisely trusted others with his (significant amount of) money.

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                • #9
                  There are so many victims out there because:

                  A. There are many greedy people out there with unrealistic expectations
                  B. There are so many lazy people out there who don't want to understand finance
                  C. Both A and B

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                  • #10
                    I don't think its fair to say falling for an investment scam = stupidity, a lot of smart experienced investors have fallen for similar scams. But it is hard to feel that bad for someone when these type of investments usually promise unrealistic returns, and you shouldn't invest more into one company than you can afford to lose.
                    Last edited by common wealth; 08-17-2011, 03:51 PM.

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                    • #11
                      [QUOTE=Susquehanna Birder;1575579]Savvy people who do their homework normally aren't swindled by ponzi schemes. People who suckered into unrealistic returns for their money are swindled by ponzi schemes.


                      Don't shoot the messinger here: but I assume you pay into social security?

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                      • #12
                        Do I have a choice?

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                        • #13
                          Originally posted by Susquehanna Birder View Post
                          Do I have a choice?
                          So we are in agreement that it is a "forced" ponzi scheme.

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                          • #14
                            I understand where you're going, but I really don't want to go there. Have a nice trip.

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                            • #15
                              Originally posted by Susquehanna Birder View Post
                              I understand where you're going, but I really don't want to go there. Have a nice trip.
                              No problem, I wasn't going to elaborate.

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