September 13, 2007

HP follow-up.... Nice to see the FBI raid on little boy David Crisp and Crisp & Cole


Bakersfield Bubble has been all over this story from the start. The little shoe-shine boy who got banks to loan him millions, then allegedly committed mortgage fraud all over California.

(Anyone remember ZZZZbest and Barry Minkow? Got some deja-vu)


Little boy Crisp was the American Dream (and crash), on a much bigger scale than Casey Serin. I really liked the articles that fawned all over the kid for his expensive suits and private jets. But of course, it was done on debt, you fricking MSM idiots. And when the Ponzi Scheme ended, fruitcake pretend businessmen like this are the first to fry.

From waiter to flashy real estate developer to Convict #275820

Here's how he was described by the clueless Realtor.org idiots in 2005:

Bling is the thing: Crisp insists that his salespeople wear professional attire and be well-groomed. He buys luxury automobiles for his salespeople and has flown clients in private jets to view properties. “Image is key in this market, he says. “Clients want to feel important and be with a real estate professional who’s successful.”

And here's how David Crisp is being written about today:


Crisp & Cole's businesses & homes raided by FBI

The FBI is saying little about the raids at the homes and businesses of the once prominent real estate duo Crisp & Cole.

Today's raids come as the California Department of Real Estate has a number of serious accusations against the once, high profile Bakersfield real estate team, Crisp & Cole. The DRE says it was an investigation, quote, "several months" in the making. The realtors could have their licenses suspended or even revoked.

37 comments:

Anonymous said...

.
.
.
.
But is he really happy?

Marky Mark

Anonymous said...

He's gonna have a tough time as someone's girlfriend in jail

Anonymous said...

Now they need to bust trump's little bitch kendra. Sure she's got baggage in her closet too.

Anonymous said...

This quote is from a Bakersfield newspaper (written by Misty Williams. Does it ever stop?).

"He's also building a mansion worth more than $5 million in Seven Oaks, complete with an escalator and NBA-size basketball court. It's perfect for hosting clients, charity events and Bible studies, he said."

The punk likely could write the whole thing off his taxes as a business expense.

Bible studies and charity events. F-cking hillarious. And cocaine goes good with all of this.

kendra todd said...

I hope the POS rots in a 6*10 cell and takes it 3 times a day from earl.

These clowns probably don't have a pot to piss in.Mansions in bakersfield, give me a break.All I ever see is rednecks in 4*4 trucks cruising buck owens highway.

FORECLOSUREBOY said...

4sale: numerous luggshury veehicles and ferrarees. need quick cash!

Anonymous said...

Check this one from Drudge Report.

Former Federal Reserve Chairman Alan Greenspan admits he "didn't really get it" that the subprime lending trend was significant enough to hurt the economy until very late 2005, but still defends his lowering of interest rates from 2001 until 2004 that critics say caused the crisis in the first place. Greenspan, who led the U.S. Federal Reserve Bank through 18 years and four presidents, speaks to Lesley Stahl in his first major interview, to be broadcast on 60 MINUTES Sunday, Sept. 16 (7:00-8:00 PM, ET/PT) on the CBS Television Network.

Greenspan says he knew about the questionable subprime lending tactics that gave loans to homebuyers and investors with low adjustable interest rates that could rise precipitously, but not the severe economic consequences they posed. "While I was aware a lot of these practices were going on, I had no notion of how significant they had become until very late," he tells Stahl. "I really didn't get it until very late in 2005 and 2006."

Even though one of the Federal Reserve governors raised a red flag on those lending practices, Greenspan says there was little he could do. "Well, it was nothing to look into particularly because we knew there was a number of such practices going on, but it's very difficult for banking regulators to deal with that," says Greenspan.

Anonymous said...

He has a cute butt not a good asset class to have in jail

Anonymous said...

there is a god

Bubba said...

Crisp & Hole, you dropped somethin'.

Anonymous said...

This sounds more like political pandering by the govt. to give the illusion that they are "looking out for the public" by lowering the smack on the criminals.

Housing and people who profited from the scam are things that impact people at home in the USA; something they see and hear daily.

Meanwhile, in Iraq and Afghanistan govt. contractors are stealing billions from the taxpayer while providing contaminated drinking water and junked trucks for the troops. Instead of investigations and criminal charges being filed for fraud they get renewals on their deals each year.

Again, I have no sympathy for people who tried to buy into this scam and profit from it. This guy just managed to make more money doing no real work than the speculators planned on doing. Why is that a crime?

Anonymous said...

Bakersfeild at the right price is a livable hellhole

Anonymous said...

Shades of the Dot Com bubble burst. The first to feel it were arrogant college grad "millionaires" who lost their shirts, big houses and expensive cars.

Man, some people never learn from the past.

Anonymous said...

Greenspan: I didn't grasp subprime threat

Former Federal Reserve Chairman says he didn't see early on
the damage that lending to those with questionable credit could
do to the economy.

9-13-07

Anonymous said...

This guy kind of looks like the NBA player Gheorghe Muresan.

http://tinyurl.com/wpxcv

Vandal said...

"could have their licenses suspended or even revoked."

You mean these bastards are still licensed by NAR after all the crap they pulled?

Just when you think realtor ethics can't get much lower.

ace said...

what a SOTE this guy is
SCUM OF THE EARTH.

Sounds A lot like a realtor in Orange County named
Mike Brown / Remax ,,, Maybe he will be next....

Trump's days are also numbered
Have you seen his second condo tower in Vegas..The sales don't look to good.

borkafatty said...

Don't get to excited,,this kid made millions, and thats a bad thing.?..if anything he was the smartest guy in the room...while the rest of us were sitting there talking the ponzi scheme he made deal. Shady deals yes..and he may get a slap on the wrist, as his money stays warm in a nice offshore bank waiting for his arrival back into society...so really who is the fool here? Us for being conservative or him laughing all the way to the bank...

Hmm?

smitty said...

too bad you didn't put suzanne in that photo doing you know what! while the guy smiles, of course!

Anonymous said...

http://a1135.g.akamai.net/f/1135/18227/1h/cchannel.download.akamai.com/18227/podcast/DENVER-CO/KHOW-AM/9-12%20Tom%2011am.mp3?CPROG=PCAST&MARKET=DENVER-CO&NG_FORMAT=talk&SITE_ID=636&STATION_ID=KHOW-AM&PCAST_AUTHOR=Tom_Martino&PCAST_CAT=Spoken_Word&PCAST_TITLE=Troubleshooter_Unleashed

appraiser admits to over valuing property of elderly

ace said...

This is posted on Barry Minkow's website .. in 2005 I guess it takes a thief to know a thief.
I am sure he was talking about the Orangeman


Ten Questions for Barry Minkow
(continued)

9. Why is there so much investment fraud?
"What we have is a perfect fraud storm. In places across the country with an appreciating housing market, low interest rates, and consumers dissatisfied with Wall Street returns, you'll find people ripe for [perpetrators]."

HauspocalypseNow said...

Didnt this guy fund the movie 'red line' that was a bomb and that black comedian WRECKD his enzo ferrari which is like 1.5 million dollar car?

MUWHAHAHA

Jambu said...

“Image is key in this market,” he says. “Clients want to feel important and be with a real estate professional who’s successful.”

That goes for any business and he was absolutely right about it.

Anonymous said...

don't drop the soap

borkafatty said...

OT: For one moment:

Excuse me as a citizen and tax payer of these United States..Who is it I call and request that this President be arrested and removed from office???

Reason being, I am reading more and more Propaganda even hearing it on the MSM , Iran this Iran that than any month previous...I really think the Son of a Bitch is going to do it...Colon Powell would have had this man removed from office...I believe that.

Drink Anyone???

BitterRenter said...

Well, that is just what our system rewards. Dishonest people are lauded and revered as long as they make lots of money.

It's the new republican America.

This guy will not only get off with a slap on the wrist, he'll probably be asked to share his secret for getting rich at the next RNC convention or one of those traveling "You Can Be a Rich A-Hole" seminars on the same bill with Trump and Colin Powelll.

You people voted for this kind of society. It's all about the perverted capitalistic idea of "harnessing greed" as the basis for a culture.

Anonymous said...

borkafatty: I think you're crazy if you think the feds will let him keep a dime of that money. Creditors and investor lawsuits will eat him alive. His life is effectively ruined.

Smartest guy in the room was a WAITER ie. not even the smartest retard on the short bus.

pwnd

Edgar said...

His only crime was that he didn't steal enough to bribe the politicos. Bad move. If you're going to steal, steal alot. Ask Raines, ask Mozilo.

Keyser Soze said...

I've always found the people of Bakersfield to be nice folks...I hope this crook pays for his deeds.

The Baglady said...

LOL, I remember all the glowing articles about him, like realtor of the year, etc etc. Not surprised by his dramatic downfall either.

Anonymous said...

look at the silent partners playing the field sneha mohammadi, finally those are coming out of the closet... living low to high in months of becoming employed to the crisp & cole company than buying homes, fraud, flipping, straw buyer and who knows what else Live up pretty now in that seven oaks model, because what are you going to do when they come for you bad boys what cha gonna do when they come for you!!!!!

Anonymous said...

DemoRats want to bail out viictims like this. I wonder if it has anything to do with the tens of millions they got from Wall Street.

Greed and selfishness is the way of the DemoRats and their supporters. notice how the biggest bubble areas are DemoRat areas like SF, SoFla, SoCal and Boston. Now they want taxpayers to subsidize their greed.

borkafatty said...

borkafatty: I think you're crazy if you think the feds will let him keep a dime of that money. Creditors and investor lawsuits will eat him alive. His life is effectively ruined.

----------

Kind of hard to find something that is not there...you know what I mean Anonymous..wink wink!

BitterRenter said...

"DemoRats" have been out of power for much of the last 30 years, their liberal ideas taking a back seat to the "greed is good" republican savagery. The only "demoRats elected were those who towed the republican line. Sure, there were a few liberals from SF, but they were marginalized and ignored, even by President Clinton.

No, this housing debacle, like the dotcom bust and the S&L bailout, has republican fingerprints all over it.

I hope the people rise up and wipe them out this time instead of simply removing them from office.

Anonymous said...

.




HA HA!

Nelson Muntz, from the Simpsons

Anonymous said...

Jambu, the problem with image is that it is just that and it does not take that much to see that it is bullshit. I just hope you know it when you see it.

kitchenstove said...

borkafatty said...

"Don't get to excited,,this kid made millions, and thats a bad thing.?..if anything he was the smartest guy in the room...while the rest of us were sitting there talking the ponzi scheme he made deal. Shady deals yes..and he may get a slap on the wrist, as his money stays warm in a nice offshore bank waiting for his arrival back into society...so really who is the fool here? Us for being conservative or him laughing all the way to the bank...

Hmm?"

Isn't this like the same thing you said about him last time? This guy has no offshore accounts, he has no "hidden" money, he doesn't have squat. This guy has nada, nothing, he is kaput, finished. This is not a Matt Damon, Harrison Ford, or Samuel L. Jackson movie, there is no big twist at the end or secret stash of billions. This guy Crisp is a "DOPES", and he has officially had his ass handed to him. I hope he learns from this and that whatever woodmaking or soap whittling business he creates when he gets out of jail is conducted honestly, reasonably, and sincerely.