November 17, 2007

We should have thought of this one sooner. Forget burning down the house - watch desperate homedebtors and unemployed REIC torch their cars now

Falling behind on that toxic mortgage and massive auto lease (like a lot of folks in Scottsdale)? Ex-mortgage broker or realtor with no work? What to do? Hell, just torch your car! This $90k Mercedes ain't looking too good. But why is a $90k Mercedes parked in an apartment lot in the first place I'd have to ask... Ah, ya gotta love the end of a massive credit bubble. It all falls apart now.

Thanks to dirtyscottsdale for this gem, and for all the $30,000 millionaire lampoonings you'd ever want in one place

The vehicle in question used to be a Mercedes-Benz G-Class; aka a $90,000 Jeep Liberty.

My complex is full of $30k Milli’s and this happened. Apparently I am not the only one who has connected the dots since Scottsdale PD won’t let anyone move it until they are done with their investigation.

As a service to us all, please spread the word that any d-bag feeling overwhelmed by the 30k Milli lifestyle who wants to torch their car for insurance $$$ should do so way out in the desert and report it stolen.


Peter T said...

I hope the catch the fraudster and punish him or her heavily, to give a public lesson in what not to do.

Anonymous said...

Ala 1991.

Veronica Lodge said...

RE: As a service to us all, please spread the word that any d-bag feeling overwhelmed by the 30k Milli lifestyle who wants to torch their car for insurance $$$ should do so way out in the desert and report it stolen.

And be sure that there is gap insurance on the car loan. Without this provision, insurance will pay only what the car is worth.

On an expensive car that has been delivered with little or no down payment, the difference between the value of the car and the amount owed can be many thousands of dollars.

Was gap insurance included at the time of purchase? If not, adding this benefit will be as difficult as trying to refinance an underwater house.


Happy Homedebtor said...

KEITH! They're persecuting Ron Paul's supporters!

Fight the power!

Anonymous said...

This looks like something George Bush would do. Just like the willies and wilmas who burned their own homes and neighborhood down in LA after the King beating.

Cause and Effect? I don't think so.

I have an idea, It could make us rich if we can sell it to the sheeple. NO, No, it's not an illegitamate war with strangers.

I propose we teach people how to live at or below their means, recover their dignity via work, promotion and being industrious and rediscover respecting ourselves and each other by telling the truth and living with a good heart towards others. You can have anything you want if you help enough people get what they want - instead of F#$ck everyone else but me, drive a MB and live in a shitty apt.

WOW, Sorry, it must have been a drug flashback or a bad dream.

Parents: continue to ignore your kids, feed them junk and let them watch unlimited TV and video games. The result (pictured) speak for themselves. Better yet, fill the tub and drown them now. They will not be a burden later.

You're Welcome. Just trying to help.

Welcome to the Depression of 2008-2009.

Anonymous said...

In Northeast D.C right off South Dakota ave theres a through st thats serves as an unofficial car burning street. As you drive along you see those black patches of soot where the cars used to be every 100 feet or so.

There was even an old fiberglass boat hull dumped there a few months ago.

teapartier said...

wasn't it an Al Qaeda hit? isn't it anti-american to say that "americans destroy property?"

Cow_tipping said...

"Everybody wants to burn their cars here" ... no ???

Anonymous said...

Makes me wish I was still an auto claims adjuster. The recorded statements on these total fires would be a riot! Boy do I miss making people who obviously are committing fraud squirm!

Anonymous said...

As a service to us all, please spread the word that any d-bag feeling overwhelmed by the 30k Milli lifestyle who wants to torch their car for insurance $$$ should do so way out in the desert and report it stolen.


If the car owner cannot supply all keys made for the car, then the insurance co. might seak fraud charges also....

Anonymous said...

Economic woes continue.

I noticed that in a week where the markets are not making the big headlines (other than in the financial press) the FED has quietly injected another 47.25 billion dollars into the US banking system to "ease tight liquidity".

This is (yet again) the largest such operation since September 2001.

Notice that the "expiration of other operations" is renewed and maintained and a net increase is reported. I take this as proof positive that the problems with credit liquidity that reached crisis proportions in August are far from over and have simply slipped from the top headlines. Expect some key event caused by the repercussions to take the general public by "surprise" sometime soon.

Anonymous said...

I learned up close and personal about the economic woes this week. There is a nice little 95 subaru I want to buy. and its not even 4 thousand dollars....I went to Washington Mutual about it (MY bank) and was abruptly told that WaMu no longer does vehicle loans OR lines of credit

Anonymous said...

You can’t fail!
Bring your money, bring your stash
We’re in need of ready cash
Come to the great all-American sale!

Anonymous said...

The dollar could collapse if Opec officially admits considering changing the pricing of oil into alternative currencies such as the euro, the Saudi Arabian foreign minister has warned.

Prince Saud Al-Faisal was overheard ruling out a proposal from Iran and Venezuela to discuss pricing crude in a private meeting at the oil cartel's conference.

In an embarrassing blunder at the meeting in Riyadh, ministers' microphones were not cut off during a key closed meeting, and Prince Al-Faisal was heard saying: "My feeling is that the mere mention that the Opec countries are studying the issue of the dollar is itself going to have an impact that endangers the interests of the countries. "There will be journalists who will seize on this point and we don't want the dollar to collapse instead of doing something good for Opec."

Anonymous said...

hi the mail lady is here again. i told everyone that the repo's are out of control months ago, so what i have been saying about the mail being the first indicator of trouble is coming true. in the next few months you will be having some more surprises if what i believe about the mail is true, my job for the last five years at the good old po is to process return to sender first class mail, tons of it, thousands of pieces everyday this is mail that can not be worked on the machines because it can not be read by the machines so it must be worked by hand giving me plenty of time to read the COVER or envelope and not the mail it self in case you all are getting nervous someone may know that you are in trouble too, for the first time in my 5 YEARS there was a whole tray of bankruptcy mail to a well known bank maybe the #2 or #3 in USA that wasn't being RTS and this mail is worked 24/7 so I don't get it all so it must be horrendous for this particular bank and there is a mega collection agency (not the kind that is trying to collect from you for not paying your dentist 150 dollars, this is the kind that wants to know why didn't you pay your $20,000 cell phone bill, won't tell you how I know this) in one town that the other half of mail was for that was being RTS (if it is listed in bankruptcy it must be bad) A tray of mail holds perhaps 500 letters although there weren't that many the tray was full. The request for people to take a look at houses priced over 2 million has increased (now those are spectacular houses, they are on postcards, I don't really remember alot of that type of mail usually they don't advertise they can't sell) and the auction catalogs are getting to be magazines (we knew that)but the biggest shocker I say is that the forclosures are moving steadily away from spanish surnames to foreign names I can't pronounce but the majority of foreclosures are still spanish surnames. I work in one of the largest post offices in oh I hate to say but it's on the west coast and i see it all. as I said before people are not paying their bills and they are in a lot of trouble.
Oh by the way you"ll know which po I work at if you are on the freeway and you see a very busy repo man with the plates ubwakin on his black windowed, black tow truck. His business is so good he is on the freeway almost everyday with someones car bouncing around on the back of his tow truck. Think stealth tow. Alot of F-10's, company white and what's up with all the dodge and toyota van's hitched up to tow trucks. We are talking people are gonna be scared to drive because these people will follow you to the grocery store to take your car oops I mean the banks car. So we have used cars for sale lots on every corner and empty houses across the street, what exactly is this solving. Just asking.

Anonymous said...

Driving in downtown Austin today. To my surprise, there was a group of about forty Ron Paul supporters on the corner of the intersection waiving signs etc. Meanwhile, the NBC news van about a block away was setting up. Ron Paul signs everywhere downtown. Sure caught my attention.

Anonymous said...

Heck, just do like the Cubans down in Miami who sink their car in canals to avoid payment or commit insurance fraud. Oh, I forgot, Arizona is running out of water, just like NC, SC, TN, GA, NV.

However, Cubans prefer Medicare fraud to make a quick buck. Surprise, surprise, Cubans vote Republican.

Shakstir said...

Those F@kkers-Gawd

Malcolm said...

Many years ago, here in metro Detroit, we had a furniture vendor who had a similar plan.

It seems that every time he got into trouble with the IRS, another one of his buildings would burn down.

It got to be that his name became slang for something sneaky.

Anonymous said...

OPEC is the biggest holder of the USD, so they would do anything to prevent it from happening.

Anonymous said...

That particular model doesn't even look good brand new. It looks like a bread box painted silver with the Mercedes marque slapped on it.
Mercedes are like fat rich people with Saks Fifth Avenue clothing. Not much substance and poor styling with a lot of flash to try to impress everyone.

Give me a cherry '69 Camaro.

Anonymous said...

Was gap insurance included at the time of purchase? If not, adding this benefit will be as difficult as trying to refinance an underwater house.



Once again the fools on HP display their lack of knowledge. I have gap insurance through my auto insurance. Cost is $35 per 6 months. Buying it at time of purchase costs way, way more. It is pure profit for the dealer.

Get a clue honey.

Anonymous said...

Miss Mail Spy: great info! we want more.

So, when you say "bankruptcy mail", do you mean, documentation about people's bankruptcy going to the bank---or do you mean the bankruptcy proceedings of the bank itself?

If it's the second, then we're really screwed! But I suspect they'd use legal couriers and not USPS.

I think the USPS is going to get a big increase in fees from certified legal mail.

PS, the screwed bank (west coast, let me think....)

1) BofA
2) Wells Fargo
3) Washington Mutual?
4) Countryfried

I'm guessing #3. #4 is too easy.

Alot of F-10's, company white and what's up with all the dodge and toyota van's hitched up to tow trucks.

I think you mean F150's. These sound like construction contractor's company trucks.

Anonymous said...

Pricing oil in dollars or euros has little effect, since euros and dollars are instantly changeable in huge---I mean truly huge quantities---on the FX market.

Daily FX market can easily take 20 million EUR/USD with a mouse click (traders do it all the time), and a "yard" (billion) takes a phone call or two and 10 minutes.

The quoting of oil does not matter.

What DOES matter is the desire for the petrostates to HOLD their big long-term reserves of financial investments, and that is surely what the prince is talking about.

What he's saying (and I'm not so sure this microphone was left on completely "accidentally") is really, "hey guys, hold on. Think for a second. We haven't sold yet. Don't act like a jibbering monkey like Chavez and that hairy Iranian. Shut your damn trap! Sell FIRST, *then* talk about it. "

Anonymous said...

Mail Lady,

Cheers, that was a very interesting rant.
Please, lets hear more from you.

Best, Matt C.

Anonymous said...


High dollar ugly!

. said...

I was in Scottsdale yesterday for a family gathering. There were several people there from NY, CA, Atlanta, and a few other places, all visiting Scottsdale for the first time, and nobody could understand why anyone would live there. The drivers are the worst in the world, the gestapo-style police are out of control, it's ugly and dusty, the people are grumpy, and there's nothing to do.

I just posted the full story:

Anonymous said...

Anyone here want to bet that Frank just drooled all over this thread?

Guess what, Frankie - this thread ain't about just Scottsdale. Got it? said...

Guess what, Frankie - this thread ain't about just Scottsdale. Got it?

Here's the difference: The other bubble markets have something going for them. Something. Scottsdale on the other hand has no draw, other than being a mecca for phonies who want to play the Scottsdale game and pretend to be big shots.

Scottsdale is Vegas without casinos and California without beaches. It has *nothing* going for it.

Anonymous said...

Well here's an anon that LOVES Frankie. A few years ago I went to a conference in Phoenix. I did a little shopping and went to a store that ended up being in Scottsdale. I didn't even realize I was in Scottsdale right away. I just noticed the numbnuts walking around and I was like WTF??? Those people exude fake and pretentious like a gallon of cheap french perfume. I think some of their inbred cousins are now living in Utah!
Keep posting Frankie!

Anonymous said...

RE: Scottsdale/Frankie - I agree, hate Scottsdale. I moved there in 2001 from NYC and lived there until last year. I hated every thing about it. The people are the most ignorant and selfish people in the country. The place has nothing to back it up. At least other bubble places have culture and water. Not Scottsdale. I love to hear stories and bloggers about how other people hate Scottsdale. I wish I would have known them when I lived there. I felt like an alien from another planet.