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Times Are Tough For Nigerian Scammers 232

The Narrative Fallacy writes "The Washington Post reports that online swindling takes dedication even in the best of times but succeeding in the midst of a worldwide economic meltdown takes patience, resolve, and hard work. 'We are working harder. The financial crisis is not making it easy for them over there,' said Banjo, 24, speaking about Americans, whose trust he has won and whose money he has fleeced, via his Dell laptop. 'They don't have money. And the money they don't have, we want.' US authorities say Americans — the easiest prey, according to Nigerian scammers — still lose hundreds of millions of dollars a year to cybercrimes, including a scheme known as the Nigerian 419 fraud, named for a section of the Nigerian criminal code. 419 is cemented in Nigerian popular culture. and the scammers, known as 'yahoo-yahoo boys,' are glorified in pop songs such as 'Yahoozee,' which gained even more fame after former secretary of state Colin L. Powell danced to it at a London festival last year."

Wells Fargo Bank Sues Itself Screenshot-sm 445

Extreme economic problems require extreme solutions, and Wells Fargo Bank has come up with a good one. They have decided to sue themselves. Wells Fargo holds the first and second mortgages on a condominium that is going into foreclosure. As holder of the first, they are suing all other lien holders, including the holder of the second, which is Wells Fargo. It gets better. The company has hired a lawyer to defend itself against its own lawsuit. The defense lawyer even filed this answer to the complaint, "Defendant admits that it is the owner and holder of a mortgage encumbering the subject real property. All other allegations of the complaint are denied." On the website The Consumer Warning Network, Angie Moreschi wrote: "We've apparently reached the perfect storm for complete and utter idiocy by some banks trying to foreclose on homes."

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