Dave Ramsey lawsuit

[Josh]

Dave Ramsey lawsuit = the Thread that will Never Die

Reminds me of the zero premium life insurance thread

 

[Allen Trent]

I don't really care for Ramsey and don't watch him but the one I'd like to meet is Dr. Phil.

Just put me in the room with him and I'll guarantee you I'll be wearing an ankle bracelet.

sounds kind of kinky. But who am I to judge your crushes & kinks

 

[PrivClientSG]

There's a complete absence of facts here on several issues here. Did he own a piece of the charged company? What was form and fashion, structure, etc., of his compensation? Disclosed? Conflict of interest? And so on. Who knows, there could be criminal charges here as well. More needs to be known. Once the dam cracks and breaks on something like this, you never know where it could go and how far it could go.

At this point, is widely, generally accepted and agreed that he has a serious problem here -- potentially very serious. The only interest I have is intellectual and legal curiosity, as well as the most recent example of the entire "financial media" landscape.

 

[PrivClientSG]

Part of these financial media personality types business model is to be somewhat contrarian, extreme, heretic, or whatever you want to call it. I listened to a few minutes of his radio show once, because a friend of mine sent me a link to specific segment. I heard him speak (excerpts) as part of some other presentation. Again, this guy is not counselling family offices, HNW/ultra wealthy individuals and families, or talking about tax and estate planning. He's a jack or hack of all trades, talking to the middle class masses, giving one size fits all advice. I have my own opinion as to people who would take advice from a talk show host -- no matter who it is. Sonny Bloch was another one, Suze Orman, although she has not "gotten into trouble" -- look, even Tony Robbins was incorporating financial advice into his seminars, programs, etc. -- and I think (not sure) he had some issues as a result of it.

I want to see the guilty side of this. I want to see the charges/indictments, the complaints, etc. -- because to me that is all the more reason than to show the foolishness and fallacy of where people get "advice" from. Plus, legally, I am intellectually curious, LOL.

 

[sman]

Those timeshare presentations are hilarious.

I got roped into one years ago and the agent was doing her whole pitch with the numbers on a piece of paper. I said, "this looks like the cost of the timeshare alone is 20%+ in interest, not counting the ongoing fees". She said, "oh, you know math" lol. The presentation was over almost immediately.

I don't throw the word "scam" around lightly but timeshares prey on people who can't process even rudimentary financial numbers.

They're a scam.

I got roped into a presentation many years ago when I was much younger and didn't know any better. They got me into the presentation by promising something free. Of course we didn't purchase anything. And ever since that day whenever I'm on vacation and they ask if we'd like to go to a "presentation" and get something free, I smile and politely say no thank you.

I know people who have timeshares and in the beginning they think they did something great. Within a few years they regret their decision.

 

[Travis Price]

Did he own a piece of the charged company

He doesn't have to own the company to be liable for misleading statements he makes as a paid spokesman. The FTC is very clear about this.

"Money back guarantee" was definitely a misleading statement. Furthermore, he must know that the statements were misleading at the time they were made.

He continued to promote the company despite the Washington AG alleged that customers had a difficult time obtaining refunds and denied refunds after years of failure in resolving cases.

A year later Dave Ramsey noted he stopped endorsing them after "they could not afford the fee." A couple of months later, the company settled.

Dave will be settling this case.

I want to see the charges/indictments, the complaints, etc

There are no charges/indictments in a civil case. The complaint is the who, what, and desired remedy of a lawsuit.

 

[Newby]

Listen, I can't stand his personality, but he does not suggest living modestly. He clearly talks about living within means, living like no one else so that you can later live like no one else when you can pay cash for luxury items. Living modestly & living within means are entirely different. He has the means, so he can pay cash for luxury items.

Would I want to hang out with him, no. I think he is abrasive & egotistical.......so,maybe he can be President as our last 2 have very similar personalities, but I don't think Ramsey has any sex scandals or rape/assault accusations like our last few Presidents

Yes! It would be fun to watch him be president for a term or two and focus completely on cutting out wasteful spending and getting us out of debt.
I would likely vote for him no matter what kind of an azzwhole he is. Lol

 

[somarco]

DR built a real estate empire in Nashville before the market crashed. He lost just about everything and filed BK.

At some point Dave found Jesus and John Cumutta and it changed his life. I don't know which he found first . . .

Cumutta was selling a course titled Debt Free & Prosperous Living, a book plus training tapes. John sold his course through an MLM operation he founded. John has continuously remade himself over the years selling the "secrets of creating wealth and living debt free".

Dave needed to make money so he started selling books and tapes from the trunk of his car about the debt free living style. He turned his financial life around by teaching others the principles of living debt free.

He is certainly not a financial guru but has made a lot of money over the years as a motivational speaker and developing multiple streams of income through endorsements.

 

[toolbelt]

so he started selling books and tapes from the trunk of his car about the debt free living style.

DR is nothing more than a shovel salesman during the gold rush, who suggests thar's money in them hills while profiting from their loses.

 

[KRobby]

His investing advice is kind of fun to laugh at as well. He basically suggests researching past performance of funds to find ones that beat the market.