Mick Weinstein's  Instablog

The last thing I need is another crusade, but this one really boils my blood... I became more disgusted as I watched: testimonials from average-looking people (no doubt shills) claiming to make $400/day or $100,000/year (only in VERY fine print does it say that these results aren’t typical), former Cowboys coach Jimmy Johnson selling his soul pitching this scam, etc.

This is a blindingly obvious fraud and it must be victimizing A LOT of people to be running so many infomercials and Expos – and it’s operating in plain sight!  The infomercials are running regularly on CW11 and the “Financial Freedom Expos” are all over the country (see: www.bettertrades.com).  It’s also clear who the target of this scam is: not folks who perhaps could afford this useless scheme that will rapidly incinerate money (which is what happens to just about anyone who trades options), but folks who can’t.

Tilson's right of course. The program looks downright dangerous, preying on unsophisticated investors at a time when they can least afford bad financial advice (but of course, it's also a time when the demand for get rich quick schemes is highest). Here's how Tilson suggests we respond:

1) If you know anyone at the SEC, and consumer protection agency, or a state attorneys general office, forward this email or give me that person’s contact info.

2) If you’re in the media, start digging.  Write an article.  Show up with a camera crew at one of these Expos.  Call the SEC and ask why they haven’t shut this down.