Bling is the thing!
I guess not.
Must suck to be facing significant jailtime at his age, all because of greed. Must suck to be one of the millions of mortgage fraudsters, corrupt realtors and shady appraisers wondering every night if the FBI is gonna come get them too.
And it must suck to be Hillary Clinton, George Bush or Chuck Schumer, when they eventually realize that they destroyed their own political careers and legacies by trying (and failing) to use government resources to bail out mortgage fraudsters like David Crisp.
Fake it until you make it: A housing flipper saga
When David Crisp was only 25 years old, the Bakersfield, Calif., real estate star tooled around town in a $560,000 Mercedes-Benz McLaren sports car, along with a cohort of "black-suited bodyguards." He sported a $50,000 Chanel watch and Armani suits. His company, Crisp & Cole, leased Gulfstream jets to fly prospective investors into Bakersfield and Las Vegas and fronted money to its team of agents so they could sport their own luxury cars and designer clothes.
On Monday, Crisp's mansion was put up for auction with a starting bid of $1.8 million. Nobody bit, and the home was repossessed by the lender. According to the Bakersfield Californian, more than 100 defaulted and foreclosed-upon properties can be traced to associates of Crisp & Cole.
But what does it all mean? How many other David Crisps ran wild in the great housing boom of the early 21st century? How many of the collateralized debt obligations made out of repackaged subprime mortgage securities were built from loans made to similar scammers?