What Punishment Should Be Given to the Old Black Lady in New Orleans Who Abused Her Welfare Checks?
Question by : What punishment should be given to the Old Black Lady in New Orleans who abused her welfare checks?
to finance a drug deal?
She used her $ 1000.00 Welfare Check to Leverage a loan of and additional $ 75,000.00 to buy drugs which didn’t really exist.
She then packaged the imaginary drugs into something called DBS (Drug Backed Securities) which she sold to Greedy White People seeking higher yields.
Then she and a group of Black Panthers repackaged the DBS into something called CDO (Collateralized Dope Obligations) which were AAA rated by both the Bloods and Crips Rating Agencies.
She then purchased Credit Default Swaps in the amount of $ 72,000,000.00 against the Bonds and CDO knowing that they would fail because no Dope existed in the first place.
When the counter parties to these Credit Default Swaps could not pay, she asked for and received a Bailout, $ 72,000,000.00 in Tax Payer Money based on the assumption that the drug industry in New Orleans would collapse leaving thousands of DEA Agents unemployed.
She has since moved to Manhatten, working as an Adviser to Bank of America.
Best answer:
Answer by Lost
Maybe you could look up the laws concerning Welfare Fraud?
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