by newera_212 » Mon Apr 24, 2023 9:15 pm
I love how you referred to the Merchant Cash Advance business as "that cash advance business where they rip off restaurants" lmao.
Perfect. Really doesn't get any more succinct than that. That shit should be illegal.
It's arguably more predatory than any financial services product ever offered before it - and it's legality is a huge stain on our society, laws, and financial system as a whole. I can't wait until that whole industry is history and everyone involved, including the little brokers, are taken down and either crippled by asset forfeiture and settlements, or locked up.
Not a big surprise that the bit players who were working the phones back in the early 90s bucket shop days are into the MCA thing. If they managed to stay out of prison in the early/mid 2000s they were doing Subprime Mortgages as well . Lots of overlap between all 3 of those "industries" lot, and lots of involvement by NY/NJ as a whole more than most think (usually people think Florida, etc. when they think of the Subprime Mortgage days). There were so many dirty little brokerages out on Long Island and in Jersey.
I think Synergy Capital is "connected" - the owner is a Staten Island by way of Brooklyn guy in his early 50s who ... IIRC ... was around some Colombos back in the day. Lock his ass up.
MCA's should be outlawed.
I love how you referred to the Merchant Cash Advance business as "that cash advance business where they rip off restaurants" lmao.
Perfect. Really doesn't get any more succinct than that. That shit should be illegal.
It's arguably more predatory than any financial services product ever offered before it - and it's legality is a huge stain on our society, laws, and financial system as a whole. I can't wait until that whole industry is history and everyone involved, including the little brokers, are taken down and either crippled by asset forfeiture and settlements, or locked up.
Not a big surprise that the bit players who were working the phones back in the early 90s bucket shop days are into the MCA thing. If they managed to stay out of prison in the early/mid 2000s they were doing Subprime Mortgages as well . Lots of overlap between all 3 of those "industries" lot, and lots of involvement by NY/NJ as a whole more than most think (usually people think Florida, etc. when they think of the Subprime Mortgage days). There were so many dirty little brokerages out on Long Island and in Jersey.
I think Synergy Capital is "connected" - the owner is a Staten Island by way of Brooklyn guy in his early 50s who ... IIRC ... was around some Colombos back in the day. Lock his ass up.
MCA's should be outlawed.