What Should Be Done About the Little Old Lady in New Orleans Who Used to Welfare Check to Get Rich in The?
Question by : What should be done about the Little Old Lady in New Orleans who used to welfare check to get rich in the?
Drug Business?
In 2006, Golda Saxon of the Lower 9th Ward in New Orleans did the following and is under investigation from the DEA, The Securities and Exchange Commission and local authorities.
Ms. Saxon, a welfare recipient, parlayed her $ 900.00 government check into a $ 72,000,000.00 bailout under the TARP Program.
Golda Sax sold debt securities called DBS (Dope Backed Securities) to hundreds of investors seeking higher yields.
The value of the securities was based on her Nephew’s stated value of his Crack and Meth Holdings through an investment firm she ran out of her Section 8 House on Toulouse St.
The DBS seemed a solid investment opportunity as they securities had been rated AAA by both the Crips and Bloods Rating Agency.
Golda then used her welfare checks to purchase Credit Default Swaps against the Dope Backed Securities and waited for them to fail.
By the time the DBS went South, Golda had managed to purchase, through leverage, $ 72,000,00.00 worth of Credit Default Swaps.
When the Counter Parties to the CDS were unable to pay, Golda applied for a bailout for her Investment Firm, Mile High Investments, under the TARP Program.
The DEA is closing its portion of the investigation since the Dope on which the Securites were backed never existed, her Nephew not even being a Dope Dealer but a Broker at Morgan Stanley who coached her through the process.
Golda has since moved to Manhatten and is working for Bank Of America as a Consultant until the investigation is finished at which time she will be heading up the OTC (Over The Counter) Derivitives Desk there.
Best answer:
Answer by josh
LMAO She used a socialist system and got rich through capitalist methods. God bless America!! A hybrid of Socialism and Capitalism
Know better? Leave your own answer in the comments!
From Twitter:
Mother claims use of antidepressant drug during pregnancy caused birth defects: NEW ORLEANS – A Tangipahoa Paris… http://t.co/KeHsyD5P – by louisianarecord (The Louisiana Record)
From Twitter:
Mother claims use of antidepressant drug during pregnancy caused birth defects: NEW ORLEANS – A Tangipahoa Paris… http://t.co/b4zBaqoV – by louisianarecord (The Louisiana Record)