Who would want to be associated with a debt collector, especially one that bends the law and makes headlines with consumer complaints? Apparently,
Mayor Joe Riley. Check out this description of
Sherman Financial Group, big buddy of Mayor Riley, who encouraged the City Council to spend $5 million purchasing land for
Meeting Street Academy's new campus sponsored by this bottom feeder [see
Dreaming High in Thursday's paper]:
"Charleston, S.C.-based Sherman generated revenues of $1.05 billion in 2006, according to MGIC’s 2006 annual report filing with the SEC. Sherman contributed nearly $122 million to MGIC’s pretax income last year, Michael Zimmerman, MGIC’s vice president of investor relations, told insideARM.com earlier this month.
"1.05 Billion? How many consumers did they rip off to get that? The scale of this is unbelievable. How many times have they violated the FDCPA, the FCRA & the FACTA to get this amount ?
"Let’s see, mortgages, insurance, credit, debt collection, New York offices, three paper corporations in Delaware, banks in Las Vegas, Brazil and Mexico. The CT Corporation system that they use as Registered Agents has offices in Reno, Nevada and is headquartered in Chicago. They report forgiven debts on 1009-C forms to the IRS, when they have only paid pennies on the dollars; how do they report the profits? Structured to shield the higher ups form law enforcement. Harrasment, illegal debt collection practices, extortion. If this was the 1950’s, I’d say it was the Mob." [Mortage Servicing Fraud Forum]
See also Ripoff Report on Sherman Financial
Let's hope Riley hasn't made a Faustian bargain.
Who would want to be associated with a debt collector, especially one that bends the law and makes headlines with consumer complaints? Apparently, Mayor Joe Riley. Check out this description of Sherman Financial Group, big buddy of Mayor Riley, who encouraged the City Council to spend $5 million purchasing land for Meeting Street Academy's new campus sponsored by this bottom feeder [see Dreaming High in Thursday's paper]:
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3 comments:
What's the deal here? This outfit starts and supports a school for children that are not being well served by CCSD. Their 1st year test scores show greater improvement than even the school sponsors were hoping for. There is no way they can be accused of skimming the cream, since they are taking only poor black kids (I visited the school last spring and saw nary a white or brown face looking up from the floor).
As I recall, the last time this school showed up here it was with undisguised glee that Joe Riley was supporting something that was not CCSD. Now the support is characterized as bottom feeder. I guess you can't win with the Newsless Courier. Why don't you dump of Geoffrey Canada and the Harlem Children's Zone next? I think they are one of the models for the Meeting St. Academy.
I was under the impression that this site was interested mainly in promoting ways that education could be more effectively delivered in Charleston County. That's why I look at it. If it's really all about slamming politicians who have nothing directly to do with education (like mayors), then I guess I can spend my time more productively elsewhere.
Your memory is faulty. I hope the school continues to do well, for certainly it's needed in this school district. But why do the taxpayers of Charleston have to pay for land for a private school, especially given the bottomless pockets of Sherman Financial?
"If it's really about slamming politicians who have nothing directly to do with education (like mayors),..." HUH? Do you REALLY think our mayor has NOTHING DIRECTLY TO DO with education?
How long have you lived here? Call him tomorrow and ask him how many times a week (or better yet, a day) he talks to our Superintendent Dr. McGinley.
I don't know anything about Meeting Street Academy. It sounds like a good thing to me...anything that helps educate our children better than CCSD can't be all bad. But when it comes to our mayor and the state of our city schools, I say, SLAM AWAY. Good grief.
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