American Greed and How to Prevent the Next Bernie Madoff



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    avatarCindy Beuoy
    Keymaster

    Ponzi Schemes have been around since man first exchanged money for services (reference). There are hundreds of Ponzi Schemes going on as we speak. There are over 50 that are exposed each year, with over 150 exposed in the wake of the Great Recession. Some are pure scams, while others are somewhat market dependent. Some start out in legitimate fashion, but because of bad bets, bad markets turn into Ponzi Schemes to hide bad decisions. By the way, it is never theft according to the perpetrator, it is just “borrowing the money”. They “always intended to put it back”. To them, this nuance make it OK. Others are…    (Click here to read the story)

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