Article

2011-07-23 Home Front: Politix

Rep. Alan Grayson Loses $38 Million In Ponzi Scheme

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Joger Oppressor of the Lichtensteiners9577 2011-07-23 06:45|| E-Mail|| Front Page|| [11126 views ] Top

#1 He only lost $3m out of pocket. The rest was profits he thought he was due from the get rich quick scheme. Pity he didn't go the typical gambler route and double down.

Posted by Anonymoose 2011-07-23 09:13|| 2011-07-23 09:13|| Front Page Top

Redacted by moderator. Comments may be redacted for trolling, violation of standards of good manners, or plain stupidity. Please correct the condition that applies and try again. Contents may be viewed in the sinktrap. Further violations may result in banning.

Posted by dan 2011-07-23 09:40|| 2011-07-23 09:40|| Front Page Top

#3 What is a no-count, bottom-feeding, scum-sucking congressturd--but I repeat myself--doing with $3 mill in the first place?
It's like in the Army when you discover your mess sergeant has five overweight kids. Not on his...pay.

Posted by Richard Aubrey 2011-07-23 10:10|| 2011-07-23 10:10|| Front Page Top

#4 Grayson asked: "What could go wrong? After all, the continuing Social Security Ponzi scheme has worked so well to bilk the taxpayers."

Posted by JohnQC 2011-07-23 10:34|| 2011-07-23 10:34|| Front Page Top

#5 Ummmmmm...did anyone actually read the item? Note the date on this.

Posted by tu3031 2011-07-23 11:14|| 2011-07-23 11:14|| Front Page Top

#6 thanks tu, buzzkill...

If he lost $3M/ month it wouldn't be fast enough. Cro-Magnon Man is running again next year

Posted by Frank G 2011-07-23 11:20|| 2011-07-23 11:20|| Front Page Top

#7 I believe about two weeks ago that he 'threw his hat into the ring' to go after the congressional seat he lost last election. Good luck with that!!/sarc
I think he wants his old title back as "Florida Congressloon of the Year" from Debbie W Schultz!

Posted by Tom-Pa 2011-07-23 12:49|| 2011-07-23 12:49|| Front Page Top

#8 Between 2000 and 2005, Grayson was the most frequent participant in Deriviums 90-percent stock-loan program, transferring about $29 million in stocks to Derivium

Were not talking "chump change" here--or maybe we are.

Grayson was ranked as the 11th-wealthiest member of Congress in 2010, based on financial disclosure forms with a minimum net worth of $31.41 million, according to Roll Call.

Sounds like he lost most of his money and then some. I read an internet article where it was claimed he made a bundle of money suing military contractors. That's the problem with jumping into Madoff-like Ponzi schemes.

Posted by JohnQC 2011-07-23 18:37|| 2011-07-23 18:37|| Front Page Top

23:59 Penguin
23:56 JosephMendiola
23:55 Glusort Hitler1574
23:23 Frank G
23:16 Capsu78
23:06 Free Radical
22:27 de Medici
22:18 Pollyandrew
22:14 Pollyandrew
22:09 tu3031
22:05 badanov
22:00 Pollyandrew
21:52 tu3031
21:49 Ricky bin Ricardo (Abu Babaloo)
21:46 Pollyandrew
21:46 Steve White
21:26 Eohippus Phater7165
20:44 Frank G
20:42 Dale
20:32 JohnQC
20:31 Capsu78
20:04 Phager the Rash2607
20:04 JohnQC
19:58 Charles
Merry-Go-Blog