Posted on 12/16/2014 6:35:16 AM PST by SeekAndFind
Too bad the hoax didn’t last a few more days or the young ‘’genius’’ would have been given a multi-million-dollar job at a Wall Street hedge fund.
for later
Yep... or they would have gone to prison for not paying their taxes....
You need at least a couple of elements to make a hoax like this into a media sensation. First, you need media people who don’t know much of anything about finance—the outlets mentioned are most likely staffed with people who have little knowledge of basic business, trading, or economics. I doubt any of them know how a trade is made.
Second, you need a culture of sensationalism—this is a core element of most media outlets.
Voila! You have a HS student who trades his way to $72M. Nobody with basic knowledge of investments and trading would have been fooled by this story. It takes a special degree of ignorance.
Thoughts:
A. My guess is the IRS had already started investigating him, with mixed thoughts.. They hunger for the tax to be collected but hate to take it from a privileged minority.
B. I wouldn’t hold my breath waiting for a reporter, or any liberal for that matter, to feel shame. Just newsfodder to keep people from thinking about the monster debt, the illegals coming in with their hands out and their diseases spreading..
The media has been propagandizing for so long now they’re suseptible to other liars. They don’t know the truth, they hide the truth.
Apparently the reporter hasn’t tried to set up a brokerage account lately. Let me tell you, it isn’t as easy as signing a piece of paper. They want to know all sorts of information, including age, SS#, past trading experience, NET WORTH, bank account info, etc.
And you must provide documentation of some of this information, including a official PICTURE IDENTIFICATION such as a Drivers License, passport, etc.
Assuming this teen had a official picture ID, I don’t think he would have looked of age to set up an account to start with.
“Mo Islam”? Surely no one saw this as a joke????
Who needs Mo Islam? Not me.....
Tomorrow’s Headline:
“Prince Albert is in a can!”
His name s “Mohammed Islam?”...sheesh...people are soooo gullible
There is no need for the IRS to do any investigation. Brokerage houses report all trades on a 1099, and after 2011 that includes the cost basis as well. If you ‘forget’, a computer will send you an automated bill.
“There is no need for the IRS to do any investigation”
My spider senses tell me, if the IRS heard about a guy making 77 million, they would probably have someone ‘take a quick peek’ at the guys file.
“Journalism” today is a pathetic joke. There are exceptions, but not many.
I said “I smell a rat” when I first heard of it. Now it’s a hoax. The media is crashing and burning at an incredible rate. I hope then all end up in ashes.
Does this guy look like he is 17 years old?
Even those eyeglasses look fake.
Mo and his co-conspirator have admitted it’s a hoax. By the way, Mo Islam looks like a giant frog waiting to croak.
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