I think The Legacy is hitting all the nails on the head all by himself.
Promising everyone wealth, hot chicks and being pimp on the boards only works for so long. The part timers drop off from a lack of sales (yay!) and the full time webmasters can smell the bullshit from a mile away and steer clear of the program.
I'm not going to name names, but IMHO some of the bigger players have given affiliates reason to question the credibility of their program through their actions. People are starting to think twice before sending their precious traffic on to programs.
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