Tag Archives | Scam

Medicare Scam: Billions went to powered wheelchairs, but how many claims were legitimate?

Pride Jazzy Select power chair by  Stephen B Calvert Clariosophic (Wikimedia Commons)

Pride Jazzy Select power chair by Stephen B Calvert Clariosophic (Wikimedia Commons)

via The Washington Post:

LOS ANGELES — In the little office where they ran the scam, a cellphone would ring on Sonia Bonilla’s desk. That was the sound of good news: Somebody had found them a patient.

When Bonilla answered the phone, one of the scam’s professional “patient recruiters” would read off the personal data of a senior citizen. Name. DOB. Medicare ID number. Bonilla would hang up and call Medicare, the enormous federal health-insurance program for those over 65.

She asked a single question: Had the government ever bought this patient a power wheelchair?

No? Then the scam was off and running.

“If they did not have one, they would be taken to the doctor, so the doctor could prescribe a chair for them,” Bonilla recalled. On a log sheet, Bonilla would make a note that the recruiter was owed an $800 finder’s fee.

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The Mantra on Wall Street Is ‘Don’t Fight the Fed’, but Do You Know What the Fed Is Doing? And Where Did Belgium Get $141 Billion to Purchase U.S. Treasury Bonds?

via chycho

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The main mantra on Wall Street is ‘Don’t Fight the Fed’, implying that if monetary policy is geared towards easing – lowering of interest rates – then riskier markets are the game in town, and if monetary policy is geared towards tightening – rising interest rates – then volatile markets are to be avoided. But do we know what the Fed is up to?

I. DOW, S&P 500, QE, and Tapering

Both the DOW and S&P 500 are sitting at all-time highs. Since bottoming out in early March 2009 (DOW, S&P 500), the DOW is up approximately 150% and the S&P 500 approximately 180%. Astronomical returns no matter what period you compare this to.

It’s no secret that the only reason the markets have been soaring is because of unlimited quantitative easing [QE], i.e., stimulus, stimulus, and indefinite-stimulus – “fundamentally a regressive redistribution program that has been boosting wealth for those already engaged in the financial sector or those who already own homes, but passing little along to the rest of the economy.”

By December 2012, funds were being pumped into the markets to the tune of $85 billion a month – a last resort, desperate measure that the FOMC began so that their ‘growth’ targets could be met.

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The 2005 Bankruptcy Bill: Knowing a Financial Crisis Was Imminent, Banks Lobbied Government to Pass Laws to Preserve Their Wealth

via chycho

bankruptcy

Our government representatives would like us to believe that the subprime mortgage crisis (2, 3, 4, 5) could not have been predicted. The truth is, the collapse was expected and authorities were well aware that crimes were being committed.


I. Introduction

It is said that if you want to find the corrupt, follow the money. This catchphrase, however, cannot be used as a preventative measure; it can only be used in retrospect to punish perpetrators of a crime. It does very little to protect us from predators. This is unfortunate when applied to our current crony capitalistic system; a wrong decision in our personal finances can mean the difference between living a life of debt servitude or one of freedom.

In our current centralized economic system, the best way to avoid pitfalls and preserve wealth, improving lifestyle, is to pay close attention to changes in laws and be mindful of their implications.… Read the rest

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