Clark recently discussed how he was furious over kangaroo court arbitrations in the corporate world. Many banks force customers into these joke arbitrations that are worthy of a banana republic. Of course, the financial institutions routinely select arbitrators that rule in their favor.

Days after his initial comments, The Wall Street Journal did a story about nursing homes that harm or kill people through negligence. Surviving family members have no recourse because they signed mandatory arbitration clauses when they were admitting their loved ones. It's getting to the point that nursing homes have no incentive to not kill people; there's nothing families can do after the fact.

The Wall Street Journal is not exactly a bleeding heart liberal publication, but they're very angry over this. So what can you do to protect yourself before you put a loved one in a nursing home? They suggest you carefully vet the admission contract and see if you can opt out of the mandatory arbitration clause. If you can't avoid it, try writing the following next to the clause: "I'm signing this because I was told that I have to." That creates the possibility that you can potentially get out of mandatory arbitration in the event your loved one is harmed or killed while in their care. The thing with the banks was bad enough, but it's a whole different story if they kill your mama.

Last year, Clark told you that nursing homes were using multiple holding companies behind the scenes to limit their liability. There are a lot of things going on in this industry that are unacceptable in a decent society, according to Clark. Interestingly, the demand for beds in nursing homes has been far lower than what demographers anticipated. That's because more families are choosing in-home care options for their elders. You need to feel confident about who's caring for your senior loved ones.

RIP-OFF ALERT: There's a new breed of scam popping up all over the country that's targeting our elders. It's called equity stripping or foreclosure rescue, and what it boils down to is people trying to steal your home without a gun. It all starts when you get a flyer or a visitor at your door talking about how they can help you stay in your home and give you money. People desperately want to believe these kinds of lines. They're asked to sign a contract and in doing so sign over ownership of the house.

One criminal ring was recently indicted for stealing over 100 houses in this way. Meanwhile, the FBI has received 60K complaints about equity stripping scams. If you have aging parents, Clark wants you to be nosy and make sure they're not falling for this ploy. You don't want to get a phone call one day and learn your folks are renting or staying with a friend because they lost their home.

RIP-OFF ALERT: Whenever Clark delivers a speech to seniors, he's always approached by those interested in doing reverse mortgages. Reverse mortgages offer a way for retired folks who are running out of cash to be able to remain in their home and get a check each month by borrowing against the value of the property. This can be a good option if you don't want a family member to inherit the house. Historically, however, the fees on reverse mortgages have been about 300%-500% higher than those associated with a regular mortgage.

Clark knows that most insurance salespeople are decent. But then there are those awful ones looking to perpetrate an equity stripping scam. They gain the confidence of an elder; strip the equity out of their home as a lump sum (instead of a monthly payout); and put it into piece-of-trash annuities, which net massive commissions for the salesperson.

If you have aging parents or other elderly loved ones, Clark wants you to put the warning out for them. Only a small sliver of insurance agents are this sleazy. But the sad thing is that if they're caught, they may only have to give the money back. How is that supposed to discourage them from doing it again? States need to pass criminal sanctions that will allow for hard time for equity strippers.

One final note: There's only one type of annuity that's absolutely fine for seniors -- immediate payout annuities, also called life annuities. The irony is that you won't hear about these from most insurance salespeople because they have tiny commissions.

RIP-OFF ALERT: In times of economic uncertainty, you're more likely to be taken in investment scams. With CDs, treasuries and stocks all hurting, people are desperately searching for a safe and profitable place to stash their money. Even Schwab is being sued over its YieldPlus Fund…and that's a legitimate company that made an honest mistake.

In a separate instance, The Los Angeles Times recently reported on a duo selling private investments in public equities (PIPEs) with the promise of returns of about 40% a year! The duo stands accused of conning more than $40 million out of everyone from retirees to sophisticated investors. One of alleged cons bought 2 multi-million dollar homes in Nevada, jewelry, clothing, cars and more. People trusted them and they were able to exploit that trust.

Meanwhile, Clark was recently approached by someone at the studio asking him about foreign CDs promising a "guaranteed" return of 18% a year. Anyone promising a number beyond 4% or 5% annually for a "safe" investment is suspect. "Safe returns" and "decent returns" are mutually exclusive. People just have to get used to the idea that right now you can't keep up with inflation. For long-term investors, Clark's advice is to get past your fear of the stock market and diversify your portfolio -- that's the key to creating wealth in the long run.

Clark is getting calls about a new kind of tax ID theft, plus a WTMJ listener recently told him her own disturbing story. The latest scam involves someone using your Social Security number to provide false tax info and apply for a refund as if they're you. Then when you go to file your taxes, you're told that you can't file twice. The ways people get our Social Security numbers are myriad, and there's not enough attention paid to this area. Another scam listeners are telling us about involves getting a notice from the IRS saying you owe money because you did not report all income for a prior tax year. What actually happens is that someone working illegally files a W-4 in your name and that income gets reported by the employer.

Clark has a somewhat radical suggestion that's a twofer: It deals with tax ID fraud and would eliminate the hiring of illegals. Clark recently joined the trusted traveler program and agreed to have his eyes and fingerprints scanned. This allows him to speed through security at select airports. Now Clark thinks it's reasonable -- in an era where nobody seems to know who we are anymore -- to be fingerprinted upon accepting employment or filing a tax return. Does this idea creep you out? Tell us by voting in our poll!

RIP-OFF ALERT: The Berkeley Center for Law and Technology analyzed corporate America to see which companies have the highest incidence of ID theft. The No. 1 company? Bank of America. BoA is the nation's second largest bank. (If you look at the numbers based on total customer base, BoA then actually comes in second behind HSBC). AT&T occupies the second slot, followed by Sprint (No. 3), JPMorgan Chase (No. 4) and Capital One (No. 5). Think about it: 3 of the first 5 are banks, which is understandable. But why are two phone companies way up there? The reason is because they do a credit check when you apply for phone service, and open yourself up as a potential target when they get your info. In the No. 6 spot, we have Citibank. As the nation's largest bank, Citibank has one-third less incidences of ID theft than the smaller BoA! Verizon, American Express, Washington Mutual and Wells-Fargo all round out the top ten. View the complete list online at the Berkeley site.

Now the inevitable question: Why do these institutions have high rates of ID theft? Clark speculates that it must have to do with the way they internally handle your information. Interestingly, the bank with the lowest incidence of ID theft is ING Direct. You would think they'd be up at the top of the list since they're Internet only. But being a newer bank, they've been dealing with outsmarting ID thieves since they launched. It's much tougher for a legacy financial institution to retroactively patch good protection into systems that were built decades ago. ID theft has not grown significantly -- it still happens to about 10 million people a year -- but it's still a major issue. Finally, from the "no they didn't!" category, the New York City Department of Finance sent tax forms to 1000s that showed people's Social Security numbers through the envelope. C'mon people, this is 2008! Get with the program.

RIP-OFF ALERT: Clark's wife recently received a letter about inclusion in a "who's who" organization. The pitch proudly proclaimed how there's no cost to be recognized in her given field for outstanding contributions. In reality, there isn't any cost; this is more of a classic rip-off than a crafty scam. Here's the scoop: There are a number of vanity organizations that send out these query letters. There is no cost to reply and have your name included in their listings. But once you respond, they try to sell you framed pictures, books, plaques and more to turn a profit.

When Clark was in college, his mom got taken in a similar rip-off. Clark was supposedly "selected" as one of the nation's top college students. Yet there was no selection process other than his mom filling out the form and sending it back in. So for his birthday, she gave Clark a plaque and a book that she ordered. The book featured Clark listed with all the other kids who had parents that also gotten taken!

Here's what you need to know: If you get a letter like this, Clark wants you to buy a frame at the dollar store and hang the letter on your wall. Don't respond and don't buy any extras goodies from the vanity organization itself!

RIP-OFF ALERT: Clark gets very steamed whenever he hears about children or seniors getting ripped off. Here's a scenario that affects the latter group: Clark has been getting a lot of reverse mortgage questions. Reverse mortgages offer a way for retired folks who are running out of cash to be able to remain in their home and get a check each month by borrowing against the value of the property. This can be a good option if you don't want a family member to inherit the house, but historically the fees on reverse mortgages have been too high. Now Kiplinger's reports that insurance salesmen and women are convincing seniors to do reverse mortgages, cash out the value of their homes and…you guessed it…buy variable annuities. AARP finds that 1 in 10 people doing reverse mortgages were conned into doing so with the promise of such pseudo-investments.

This is unconscionable. Clark doesn't know what goes on in the minds of the banks, brokerage houses and insurance companies who push these modified reverse mortgages. The variable annuity shtick is bad enough, but it's really infuriating that they're pouring salt into a wound by stripping the equity from a home. Clark believes it's not enough to fine people who push this stuff; the only way to stop this is to send them to prison. The fines that can be levied are never enough and just reinforce that idea that crime pays. So you must be the cop on the beat for your elderly relatives. Be nosy and find out what's going in their lives. Hopefully they were there for you as a young person, so try returning the favor by being there for them in a time of need.

RIP-OFF ALERT: Presidents' Day weekend is the biggest sales time for mattresses. But beware because the bedding business has historically been filled with snakes. When you're looking at their colorful inserts and TV ads, know that they are listing promotional price bedding. Manufacturers make a tiny percent of their production runs to be used for this purpose. When you lay down on a promo mattress in a store, you'll probably think the floor would be more comfortable. This is done on purpose so the salesperson can then steer you to a more expensive mattress. It's the old bait-and-switch. They also make comparison shopping difficult because they never use the same model number. You can look at the same mattress at several stores, but you'll never know it because it's been given a different model number each time.

ConsumerAffairs.com recently reported on the worst places around the country to do your mattress shopping. But Clark wants you to know there are people in the business who play it straight and aren't rodents. You can tell when they don't start with the bait-and-switch and instead actually offer a comfortable bed for a good price. Even still, take a picture of the tag on the mattress to show the model number of what you're buying. This prevents them from later trying a reverse switch and delivering something other than what you purchased. And always remember to pay with a credit card so you're protected from delivery problems or phony additional charges.

Clark also recommends mattresses from the warehouse clubs because they have little markup. He wants to commend Sam's Club for having pullout mattresses available for you to check out. That way you don't have to pull a mattress off the wall. When you do try a mattress out, get a book and chill for a while to thoroughly vet it before buying.

Longtime listeners know that Clark despises the gift card market. The only exception to this rule is when you get more than what you pay for from a retailer or merchant. Examples of this include getting a $125 gift card for $100 or getting bonus services thrown in during the purchase. Business Week recently ran a story that reinforced why retailers push gift cards so hard. It's like stealing money without a gun; they know a large percent of the cards won't ever be redeemed. You may have heard that Home Depot holds more than $100 million in unredeemed gift cards. But now Business Week has discovered that Best Buy is sitting on a whopping $500 million in outstanding gift card revenue!

States are now wising up and enacting laws that require retailers to turn over unredeemed gift card money after a certain period of time. If people go to redeem the card, they'll have to get their money back from the state. Clark recently was in Austin, Texas, visiting his affiliate station KLBJ-AM. There he spoke to a member of the state legislature who told him Texas enacted its own law after hearing one of Clark's gift card rants. The worst kinds of gift cards are the ones issued by banks, which come with a ton of fees. The federal regulators have not put any rules on the banks as of yet. That alone tells you who they work for -- and it's not you and me.

There are a lot of pseudo health insurance companies out there selling fake plans to employers and individuals. The Wall Street Journal reports that some 200,000 businesses have been taken in these kinds of rip-offs. Small businesses crushed by high premiums are very susceptible to the lure of cheaper health care. But when somebody gets sick, the insurance card comes back as a fake and all the bills go unpaid. This has been happening in state after state. Insurance is regulated by the states, not the feds, so the rip-off artists can just bounce around from state to state pulling their scams. What do you need to know to stay safe? First off, be wary if you get a pitch for a great deal with drastically lower premiums. But don't let your skepticism stop there. Contact your state insurance department and ask if a prospective company is licensed to do business in your state. Make sure the name matches exactly because sometimes the rip-off artists will use a name that's very similar to that of a legitimate business. Seniors also have to be especially careful of fake prescription plans. Once again, call your state insurance department to verify if a health insurance salesperson represents a legitimately licensed company. Preventative steps are the best medicine for your wallet.

There is an unpatriotic segment of the population that has been thriving by ripping off members of our military with usurious loans. Clark thinks it's disgusting that the soldiers who lay their lives on the line for our freedom are being taken advantage of by scum. This issue directly impacts our national security when military personnel can't deploy because they're burdened by mountains of debt and can't get security clearance. Some of these locust payday lenders have been stationing themselves outside of military posts and making loans with interest rates beginning at 390 percent! Many military recruits have fallen for this because they're young and not sophisticated in the ways of finance. Congress previously outlawed these sickening loan practices, but only now has the Pentagon formalized rules to protect the young men and women in our military. It is now a federal crime for a payday lender to rip off a soldier. The rules also extend to loans offered to the spouses of soldiers. Other provisions of the new rules ensure that soldiers will soon have access on their posts to financial advice 24/7 and extra low-cost loans.

Whenever the economy hiccups, it seems like there are more and more scams being pushed on people. Has someone recently tried to offer "the business opportunity of a lifetime" to you? The Arizona Republic reports that the Better Business Bureau and Federal Trade Commission are getting increased complaints about these bogus business opportunities. Last year the FTC even initiated a program called Project FAL$E HOPE$ to help protect unwitting investors from such scams. The pitches that people are getting are very convincing. They're often delivered in hotel ballrooms, but also can come by word of mouth from someone you know. What these kinds of scammers are offering is great wealth -- if you buy their secret system or investment strategy.

Clark wants to warn people that there is no "insta-business." We all want to earn extra income, so the subconscious desire to believe these pitches is tremendous. The pitches can get so intense that Clark describes them as part church revival, part pep rally and all baloney. If you do get pitched, do some third-party research by talking to the BBB, or going to eBay and seeing if others are doing a protest sale. You'll know it's a protest sale if someone is offering a product or strategy that could cost you thousands of dollars for some ridiculously low price like $1.99. Chances are this person already paid money and got burned, so now they want to warn others. You can always buy what they're selling for a couple of bucks and investigate its legitimacy rather than paying full price to a scam artist.

Have you been approached by a representative from a company called either Metro Dream Homes, POS Dream Homes or Metropolitan Grapevine promising to help you pay off your mortgage in about seven years? This offer is yet another scam that's come to Clark's attention. All you have to do is pay $5,000 and agree to give up 15 percent of your home equity! Metro then says they'll invest your money in credit card machines, ATMs and other "revenue-generating devices" and use the profits to pay off your mortgage in five to seven years. Once the mortgage is paid, you then have to give Metro half of the new equity in the home. The state of Virginia recently crunched the numbers and found that they are mathematically impossible. Meanwhile, The Washington Post reports that Virginia and Maryland are seeking temporary injunctions and cease-and-desist orders against Metro. Don't buy into the pipedream being pushed by the company.

Last spring just around tax time, Clark started hearing about a lot of people who received an e-mail scam that appeared to be from the IRS. Now the same scam has resurfaced. Here's how it works: You get an e-mail that appears to be from the IRS saying they owe you small refund usually around $139.50. The e-mail is branded with the IRS logo and looks legit. It originates from an address that ends in .us, which most people think is a sign of authenticity. A .us domain name, however, is the same as a .com. The real IRS website is a .gov, since it's a government organization. The bogus e-mail explains that the money will be deposited into your account -- provided that you send your account number and secret access code. If you comply, your account will be cleaned out by cyber criminals. Know that the IRS will never ask you for your banking info in an e-mail. Meanwhile, there's a similar scam circulating that appears to be coming from Coca-Cola. This one isn't legit either, so watch out!

Job seekers who entered their information in the Monster.com database may be at risk of identity theft following a massive security breach at the company. Identity thieves managed to steal the names, addresses, phone numbers and e-mail addresses of 1.3 million people. So beware if someone claiming to be an employer calls or e-mails asking to screen you as a potential employee. If they're an identity thief targeting you, they may ask you to divulge your social security number, mother's maiden name or place of birth. These are some of the remaining key pieces of info they'd need to steal your identity. If you think you've already been targeted or may be in the future, you're best option is to do a credit freeze. Consumersunion.org offers a comprehensive list of states that have credit freeze laws on the books. If you're already a victim, it's free to do a credit freeze. But you may have to pay some nuisance fees if you just want to do a freeze as a preventative measure. Right now 10 million people have their identity stolen each year. So why is there no national credit freeze law? The problem is that Congress is in cahoots with bank lobbyists who want to repel all freeze laws -- even those on the state level. We'll keep you posted...

Clark owns a mortgage that he collects payments on much like a bank would. Recently he's noticed that he is getting mail and phone calls from note buyers. These are people who are involved in the latest dare to be rich scheme. They've heard a pitch in a hotel ballroom somewhere about how you can score quick cash by approaching someone who owns a mortgage and offering to buy their note right now. They typically ask the note holder to sell his or her interest for anywhere between 70-90 cents on the dollar. Clark admits there is a very, very small legitimate business opportunity here. But most of these note-buying schemes are rip-offs.

On a related note, the median home price in the United States -- the level at which half of all homes are more expensive and half are less -- has declined this year for the first time since the feds started keeping records in 1950. Home prices are expected to get lower still in 2008 and even lower in 2009. There are some markets like Portland, Seattle and Charlotte, N.C., that are still increasing. But bubble markets such as Phoenix, Las Vegas, lots of California, lots of Florida, the Washington D.C. metro area and Boston are hurting. The only bubble market that hasn't burst yet is the New York metro area. Expect the average price of a home to decline about 1-2 percent per year for the foreseeable future. Just remember that you have nothing to fear if you're in a home and have no intention to move or sell. That being said, two million families will still be put out on the street this year alone. The only silver lining here is that the bulk of the foreclosures are not owner-occupied. They instead belong to speculative owners who may never have seen the properties they're losing. This housing "correction" is actually healthy because it will allow the country to get back to a place where home prices are more affordable to the average person. Finally, Clark denies that the media has caused the housing slump. The market is slumping because it was built on irrational loans that stretched people too far and too many houses going up on spec.

Do you need yet another reason to dump the three monopoly phone companies -- Verizon, AT&T and Qwest -- and their outdated landlines? Well, here it is: Verizon is playing dirty pool by getting into the AT&T game of charging customers a fee for long distance even if you don't use long distance. The Verizon fee is a couple of bucks a month, but AT&T had been charging people between three and five dollars to not use long distance! So unless you absolutely need a landline, why not liberate yourself? Here's the problem the phone companies are facing: They fought very hard to be able to sell long distance, but then people started using their cell phones, pre-paid cards, the Internet and/or cable phone companies to make their long distance calls. In fact, the cable companies usually offer unlimited long distance. So now the monopoly phone companies are fighting a losing battle.

Clark advises anyone who has older parents to go through their phone bill and see if you can save them money by enrolling them in Lifeline, which is a much more affordable tariff-rated service that seniors can get. Also be aware that if your parents have been in same residence since the early '80s, they may be paying a lease for telephones they had back then. Those fees could cumulatively amount to thousands of dollars, so be on the lookout on your folks' behalf. Finally, one last tip for saving money when it comes to your landline: If you pay for an unlisted number, why not just change it to a listed number and make up the name in the listing? Clark doesn't care if you call yourself Abraham Lincoln, the point is just to stop paying extra and unnecessary fees!

Clark doesn't do rebates. He believes that you shouldn't buy something just because it offers a rebate. After all, you may never see that money! The Wall Street Journal recently sent five people out to buy five different items at five different retailers. All the products purchased came with rebates. All five people correctly filled out the necessary paperwork to get the rebates. Yet only one person actually got money back. That's a mere 20 percent! And that was with all the rebates being processed properly by the consumer. Now, think about how often you lose the rebate paperwork or fill it out incorrectly. Rebates are like a legal con game, according to Clark. His executive producer, Christa, recently tried to get a rebate from her phone company when she got high-speed internet bundled with other services. She still hasn't received any money back. Even worse, she was eligible for three separate rebates when she bundled three services together. But she hasn't yet seen a single penny in rebate funds from her phone company. Meanwhile, Clark likes that OfficeMax has eliminated rebates and instead lowered prices. Staples, meanwhile, offers very easy online rebates similar to wholesalers like Costco and BJ's. That's a good start, but why don't they just go the OfficeMax route? Perhaps because they know that most people don't even bother applying for rebates. The moral of the story here is that you shouldn't buy something just because it offers a great rebate deal unless you are sure you are going to use the product.

Many Americans are behind on home mortgages and millions are now facing foreclosure in the next year or so. That situation creates the opportunity for a scam called "equity stripping." Have you ever seen those signs on the side of the road that say something along these lines: "In trouble with your home? Avoid foreclosure! Call now!!!" With equity stripping, you essentially sell your house to a company or individual who then pays the mortgage. They'll often let you stay in your house until you can get back in financial shape. You also sign a contract stating that you'll later be allowed to buy back your home for a nominal fee -- sometimes as low as $5,000. Here's where the real scam begins. The person or company who was "rescuing" you from foreclosure turns around and borrows up to the full amount of hard-earned equity that you put into your home. Then they disappear with the cash in their pocket and an eviction notice goes up on your door.

So if you are behind on your mortgage payments, you can't rely on anyone other than yourself. Keeping an open line of communication with your lender and wisely juggling your financial commitments are the keys to avoiding foreclosure. Go back to your lender and work out a payment plan that allows you to keep your home. If you've already approached your lender once and been turned down, get in touch with them again. Stay in constant contact. Finally, you have to re-prioritize your bills. Your mortgage should be at the top of your list for paying every month -- even if that means putting other commitments like your credit card on hold until later.

Here's another one of Clark's rip-off alerts! For years, AOL has made it difficult for people to get out of their contracts. To add financial insult to that injury, the internet service provider charges a whopping $24-$25 dollars for dialup. Who in the world would pay that when there is basic DSL available in many markets for $10-$15 dollars? Unfortunately, some 12 million people still do fork over their cash for dialup! Maybe it's because when you call up and try to drop AOL, the customer service representatives transfer you repeatedly and are argumentative. Then finally when you think you've gotten out of the contract, you're billed again next month. In fact, there was an internal conspiracy going on where financial incentives were given to employees to cheat the American people.

Now AOL has entered into a settlement where they've agreed to reform their business practices -- even though they didn't admit to any wrongdoing. Meanwhile, they're only paying a minimal fine and not one of their executives has been jailed for allowing the conspiracy to steal. If you're one of the people who has had money stolen by AOL after you cancelled the service, the settlement also allows you to get restitution from the company. Look for a link to the customer restitution form on Clarkhoward.com when AOL makes it available! Why is it that a big company can steal without any meaningful consequences? As Clark says, individuals who practice the kind of trickery AOL has for years would find themselves with some new jewelry -- handcuffs. Updating a related story, Sprint has recently been firing their customers for making too many customer service calls. Now New York State is trying to make Sprint waive the cancellation fee for those customers the carrier wants to drop. Clark fully believes the cancellation penalty should work both ways.

About 18 months ago, Clark issued a warning on the show about the damaged cars from Katrina and Rita that would soon be flooding the market – no pun intended. Well, it’s happening. Con artists are selling “flood cars” from Texas, Mississippi, Alabama and other states that were affected by the hurricanes. Several auto insurers are refusing to crush these cars because they knew it would make them more money. So, because of weak title laws in most states, criminals have been “washing” the titles of these cars and putting them back on the market as if they’d never been involved in a flood. Close to half a million may be on dealer lots today. Washing the title basically means a title that would have had “SALVAGE” written on it is given a clean title with very little effort because the laws are so slack. So, it’s more important than ever to have a used car inspected by a certified mechanic. Before you buy a car, make sure you have it checked out. Clark thinks all of these cars should be crushed and never sold again.

Have you ever gotten a solicitation in the mail to join the “Who’s Who” list of some organization? If so, Clark hopes you’ve thrown it away immediately. Sure, it may be flattering. But it’s a hoax. There are dozens of these outfits that claim you have been named to these exclusive lists. But, there is a publication deadline you must meet in order to be included. That’s the hook. It’s not a scam because you must respond, but it is certainly a ripoff. And, it’s not just the book anymore. Now, you can get a “Plaque of Achievement” impressive-looking frames, leather bound volumes and more. Don’t let your ego get the better of you with this one. Toss these mailers right away. It’s all about making money off of you.

Do you know what “reloading” is? It’s something that happens to people who’ve gotten scammed already and agree to pay money to someone else to help them get their money back. The criminal usually poses as a detective or police officer, so people have faith that it’s for real. But it’s not. They’ll tell you they need some “seed money” to get started looking for your money. If someone calls and says something similar to this, tell that person never to call again and hang up. You are being targeted for a reload scam.

If you own your own company, you may have seen some e-mails that look like invoices from the Yellow Pages or other advertising mediums. Really, these are solicitations, but people think they’re real and they pay them. One California firm ripped people off in 26 states by sending them checks. The gotcha was that once the checks were cashed, the person automatically signed up to advertise with a group called “Yellow Pages, Inc.” The good news is that the company was discovered and ordered to pay restitution. If you got ripped off by this outfit, you must respond within 60 days to get your money back. So, find your paperwork and do what you can to get your money back. Also, be aware that Chase Bank is doing something similar. So, if you’re a customer beware.

Clark never thought he’d be talking about Paris Hilton. But the hotel heiress recently got swindled into a stock scam that involved a phony movie and lots of angry investors, according to the New York Post. Apparently, Hilton hooked up with two men who wanted to cast her in a few movies. The first was “Pledge This” and the other was “Guest List Only.” Well, the movies were never going to happen. Instead, the men shot a few scenes with Hilton, showed them to potential investors and got those people to invest about $300 million. It turned out that both men were convicted con artists and Hilton was an innocent bystander. It just goes to show that investing in a “hot” tip can come back to bite you.

Have you heard the latest story regarding the IRS? It’s a doozy. The IRS issued a “rulemaking,” or junior law giving tax prep companies permission to sell your information to any anyone they please. The IRS claimed the rule was all about protecting your privacy, but that’s simply not true. The IRS is telling people that by signing a piece of paper you are protecting your information, but in actuality you’re signing away your rights. People aren’t even going to notice that they’re giving away protection of their personal information. But the truth is that the IRS never permitted this before so using the form as protection is bogus. According to digging done by the Washington Post, this is all about tax preparers wanting a new revenue stream. The IRS apparently figured they’d help these tax prep companies since they all do business together. But this is an inexcusable move on the part of the IRS. Clark will keep you informed on how it all plays out.

Clark has heard quite a bit from listeners recently about “deferred rebates.” With these rebates, you supposedly buy items from retailers for a higher price than they’re worth and down the road you get a full refund. Typically, it’s online sellers who jack up prices and they go bust before people get their money. The worst example was a woman who had spent $27,000 on overpriced products only to learn the company went bust. Now, there is a new twist on it that ensnares business owners. According to the Boston Globe, these deferred rebate companies have been going to retailers in New England and asking for a portion of their sales in exchange for refunds down the road. One of the companies was “Cash Back America,” and it hooked retailers by claiming they could boost their profits. So, if you are a retailer and you sell a customer an item for $1,000. The retailer then pays Cash Back America $135 or 13 percent in exchange for the promise that the customer will get a full refund three years from now. But there are all kinds of rules and requirements that ultimately invalidate your rebate. One of them is keeping an electronic calendar telling you when you get your refund. How ridiculous is that? Well, people buy in because they want a deal. If it sounds too good to be true, it usually is.

Most people have a great deal of gratitude for our soldiers, regardless of how they feel about the war. But apparently some people think it is okay to take advantage of our servicemen and women. A story in the LA Times details a travesty going on when soldiers return home and need to buy a car. They come back from war with a lot of combat pay and take that money to a dealership. Some dealerships charge them interest rates of 20 percent or more and charge two or three times the fair market value of the car. Granted, this has been happening to regular citizens for years, but no one is getting hit harder than soldiers these days. They are young and sometimes don’t know that they should read the contract, so salespeople take advantage of them. Clark thinks this is disgusting and he wants you to warn service people you know.

Have you heard of "World Marketing Direct Selling, Inc?" It’s a bogus company that was convincing people to invest a minimum of $26,000 in its scheme. The outfit claimed that people would get back 10 percent of their money right away. Then, every month for their rest of their lives, people would get $300 a month. People were so excited about the opportunity that they signed up in droves. One couple in Connecticut invested their life savings of more than $600,000 into the ploy. It turned out to be a total pyramid scheme. The company claimed to offer nutritional and dietary supplements. But organizers were really just paying original “investors” who then convinced others to join. And, as pyramids do, it quickly collapses. The money is nowhere to be found and the SEC hasn’t been able to figure it out. A legitimate multi-level marketing company actually sells a product. It’s not just a way to recruit new people. And, seriously, how legitimate does a company sound that guarantees you $300 for the rest of your life?

The mortgage business is so confusing these days that people wind up in risky or inappropriate mortgages just because someone told them to. Freddie Mac learned that roughly one in five people who ended up in high-cost loans had no business being there. They would have been perfectly suitable for prime mortgages, meaning mortgages that are at market rate. They either didn’t comparison shop at all or they were swindled by someone telling them they didn’t qualify for one. Don’t take one person’s quote on a loan. Get at least three. Another problem is that people sign up for mortgages with pre-payment penalties. Lenders slip these in at the last minute when you’re at the closing table. But you have the right to see your closing documents – also known as the HUD1 statement - the day before closing. So, be sure to ask for it 24 hours in advance so you know what’s going on. If everything doesn’t look right to you, walk away.

Are you familiar with Palm Beach County in Florida? If so, you know there is a lot of money in the area. Some convincing thieves figured they would try to tap into that money and recently set up an investment company in the area. They promised 125 percent on returns and convinced very wealthy people to invest tons of money in their company, known as the KL Group. According to the SEC, more than $200 million is already gone and it could go much higher. The fact that only 225 people invested means that each of those people gave more than $1 million each. Clearly it doesn’t matter what your position or educational background is. Greed is present in all levels of society. Schemes like this are known as “hedgefund ripoffs,” so watch out!

Have you heard of “debt buyers?” Clark likes to refer to them as scavenger collectors because what they do is wrong. These people go to a credit card company or bank and buy that organization’s outstanding debt. They then contact people who owe the debt and threaten people to pay it back. Some even steal the money directly from your bank account. It’s unbelievable criminal behavior and it’s going on everywhere. According to the FTC, complaints about these unsavory debt collectors have jumped from 13,000 to 60,000 this year. It’s the No. 1 consumer complaint to the FTC right now. They tell people that they owe money on debts that aren’t really theirs. They seek out people with the same name as the actual person who owes the money and scare them into paying money they don’t owe. Another tactic is to contact relatives of the deceased who owed money. They claim it’s your responsibility to pay the debt, which is not true. It’s obviously an industry that is out of control. When you get a call from these people, remember that you do not have to pay the debt. They are not allowed to threaten you verbally or physically, and they can’t use underhanded tactics to get money out of you. It’s illegal. Collectors operate under the law of the jungle and you have to reign them in. You must tell these people that they can’t contact you unless you allow it. But you have to put it in writing. And when they call you, record the message. That is the proof you need to show they have broken the law. And, never ever give a collector your bank account numbers or credit card numbers. It’s time for the federal government go after the scavenger collectors who have infested the collection industry. But until that happens, it’s up to you to put them in their place. Get a copy of Clark's drop dead letter here.

The newest scam these days involves ripoffs on currency exchanges. Clark had only heard about this a few times, so he didn’t think it was that bad. But according to the Dow Jones News Wires, these scams are growing out of control. They are set up as traditional boiler room cons, where scam artists are using telephones to cold call you. They claim that, due to rapid movements in currencies, there are billions to be made. They also say their proprietary software to help you make moves on the spread. But the only thing they can do successfully is help you lose your money. The average person getting conned loses $15,000. And they don’t have to get too many people to agree to it before they’re making big bucks. Hundreds of millions of dollars have been stolen in this scam, but the amount per person is so high that it’s not registering as widespread. It’s a tricky game, nonetheless. If you hear a pitch for currency or livestock or oil, basically any commodities trading, run away! And if you don’t understand a pitch, don’t get involved.

Every week, it seems Clark shares a story about the latest Ponzi scheme. The most popular kinds are Ponzi schemes and affinity scams. Churches and doctors are often targets of these schemes. And the latest newsworthy scam is unbelievable. One man conned $253 million out of about 7,000 people by getting them to believe a lie. Larry Osaki somehow convinced people that they would get 20 percent returns on the money they gave him every 90 days. So, what would they make money on? Latex gloves. It’s not a joke. People thought the next big break was in latex gloves. If your stocks are doing great, you’re going to earn 7 to 10 percent on your money each year at the most. That’s over the course of a year. One consolation is that Osaki is headed to prison, according to the Orlando Sentinel. Whenever someone promises you more than the normal return on your money, run the other way.

One in seven people move every year, and most have some kind of horror story to tell. Unfortunately, the moving industry is being infiltrated by organized crime. There are two types of moves: state-to-state moves, and local moves (regulated specifically by the state or not at all). There is a loophole allowing criminal activity in the laws written by Congress for state-to-state moves. They either try to extort money from you, steal your possessions, or a combination of the two. The New York Times reported that two consumers who were scammed set up a group, Citimove, to help people learn about moving scams. The scams (both state-to-state and local) work by the movers quoting an original price, picking your things up, and then calling weeks later with a ransom to get your possessions back. Clark stresses that moving preparations need extreme care and caution. Movingscam.com is a good website to learn to protect yourself. Moving.org will help choose a certified mover for a state-to-state move. Purchase insurance coverage from your movers because they are not responsible for anything stolen or lost without insurance.

The TV is full of ads for debt management companies these days. And one of the companies that is notorious for ripping people off is Ameridebt, which had constant ads on television about “helping people.” Well, it turns out that the founder stole $70 million from people who were in repayment plans with creditors. He used the money to live a very elegant lifestyle, to support his wife and girlfriend and to buy all kinds of lavish toys. Included in the gifts were a $15,000 mattress and $8,000 sheets for his girlfriend. All the while, he was using the money of people in desperate financial trouble who were trying to pay off their bills. If you’re really in trouble, please don’t go to one of these organizations. They are criminals. You want to talk to legitimate credit counseling services that are a part of the National Foundation for Credit Counseling. Check out your local service at nfcc.org.

About six weeks ago, Clark got a call from a listener who was very upset about the application she had to fill out at Blockbuster video to get a membership. Clark understood why the company would want enough information on customers in case something hinky happened with its movies. But what if there is a questionable employee who gets a hold of that information? That is exactly what happened. An employee took a bunch of applications and opened fraudulent accounts with 65 customers’ names. He bought electronics, clothes and even a Mercedes. He’s been indicted by a grand jury, but it makes one wonder why Blockbuster applications require social security numbers and other financial information. The company had very little to say about the matter, and Cla