Groupon has always been a scam..but the brokers pushing it and the PR people in the media talking it up, and the pension fund managers and insurance fund managers and bank investment fund managers ..all got commission paid out of using other peoples money to buy into the scam..( remind anyone of how sub prime played out ? )..and they will all claim that they couldn't know and didn't know and it isn't their fault that your money is gone..that will be lies.. (..many of us have been saying the truth here and elsewhere, about Groupon and other "pie in the sky dot coms",) and we were not the "paid to know about such things", we were not the so called "experts"..
And we were giving the same warnings years before the "crash of 2007/8" about the sub prime market etc ,and "credit booms" as being a sure fire way to financial catastrophe..anyone could see it coming, and would have said so..unless they were getting commissions on the various finance deals and credit arrangements and loans ..from the affiliates right up to the CEO's of the banks and the ratings agencies..they all kept quiet and ran with the money..knowing it would crash..but they never got sanctioned ..and most even got bailed out..
They are still living "high"..and the people they robbed once, and who were made to bail them out with their taxes ( robbed a second time ) are now being told that is the already twice robbed and bitten victims who should tighten their belts..( robbed a third time..and pay for some else's crime ) while the thieves and the crooks and the scam artists and politicians, that were in power at the time the crime happened, and committed the crimes and scams and facilitated them, just keep on partying..
Any bankers and or their politician friends from the 2007/8 fiasco gone to jail for 10 years or more, any of them lose their jobs and find themselves on the streets ? ..nope..they are now the ones trying to blame the current mess that they made on those who came after them and whom they left to clean up..
Until white collar crime always results in long hard time in jail..this will continue..and the occasional sacrificial goat like madoff being put on trial.. is only to appease the guy in the street, ( who winds up paying for all of it twice over ), so as to pick their pockets all the better next time
So the white collar criminals don't care..and will do it again with the next scam..