A new Bernie Madoff in the Lakes Region?

[Greene's Basin Girl]

Originally Posted by fatlazyless

Talking about clawbacks, according to this here list of political contributions http://www.city-data.com/elec2/elec-MEREDITH-NH.html that I found on google, the principal at Financial Resources Management, Scott Farah, made a $250 contribution to the National Republican Congressional Commttee back in 2001. Hopefully, the Republicans will not have to return the money because those Republicans seem to be needing all the help they can get for right now at least.

I wonder how you voted in the last election? I hoped your pleased with all the stimulus. Maybe some of that should help pay back the people that were robbed by Farah. Why not? There is plenty of pork to go around.

[fatlazyless]

Originally Posted by Green's Basin Girl

I wonder how you voted in the last election? I hoped your pleased with all the stimulus. Maybe some of that should help pay back the people that were robbed by Farah. Why not? There is plenty of pork to go around.

In the January 6, 2008 NH presidential primary, I voted Mitt Romney. In August 2008, I switched from going with McCain to Obama, and voted Obama on November 4, 2008. Having a president on the lake up in Wolfeboro would have been really something!

One big difference between the bailed out banks and investing with Financial Resources Mgmt is that bank depositors have bank failure insurance with the FDIC.

For a much safer investment the FMR investors could have bought McDonald's stock which also has no insurance other than the power of their hamburger & french fries. You know, the Meredith McDonald's is actually located just about 100 yards downhill, through the woods, from the Financial Resources Mgmt building. Probably, some of those who lost big money with FRM probably stopped at McDonald's enroute to FRM, like maybe at their take-out window. Hindsight is 20/20, but to think they could have invested in MCD which pays a 3% div & stock price appreciation or loss. How many people eat at McDonald's every day? Who you gonna trust?


And, is there a personal story out there about one's money lost with Financial Management Resources, and how it has effected you financially, and what it has done to your life?

[trfour]

Bankruptcy trustee asks for 3 months to sort things out...

http://citizen.com/apps/pbcs.dll/art...918/-1/CITIZEN

[fatlazyless]

While the US Bankruptcy Court in Manchester freezes for three months the pending lawsuits between a number of investors and Financial Resources Mortgage of Meredith, it looks like we'll get to see a face-off out on center ice between the NH Bureau of Securities and the NH Banking Department.
........

"I have reason to believe that the Bank Department failed to fulfill its regulatory duties and that is why we are asking for the records as well as to confirm that this is not a state securities matter."

Mark Connolly, director of the N.H. Bureau of Securities Regulation
.......

"This is a securities matter."

Peter Hildreth, N.H. Bank Commissioner
.......

www.laconiadailysun.com, Dec 18, starting on the front page, article by Michael Kitch

.......

"When the firms closed officials found what several have called a Ponzi scheme costing more than 500 investors as much as $100-million."

[no-engine]

For years, I have known people to say that cell phone towers and cell phone next to one's ear will cause many issues to us all!

[Sue Doe-Nym]

Amazing now that the "you know what" has hit the fan, how fast every regulatory body around claims that the FRM mess was someone else's responsibility. From what I've read, it appears that they were all caught with their pants down.

[angela4design]

I think maybe Pastor Farah will be changing his Prius' vanity license plates soon, so no one recognizes the car by the "FARAH" plates! (I think I would!)

[Meredith Resident]

Is there any update on the two state regulator agencies and the "blame game" they have been playing?