news.goldseek.com — As the multi-billion dollar Ponzi scheme orchestrated by Wall Street insider Bernard Madoff unravels in the media spotlight, the nation is being presented with a rare opportunity to understand the true nature of many of our most cherished financial structures. Hopefully we have the wisdom to connect the dots. Although the $50 billion...
Dec 18, 2008 View in Crawl 4
Closed AccountDec 18, 2008
"...It truly is amazing how faith in government is so pervasive that many can believe that politicians will succeed where private individuals fail, and that governments are somehow immune to the economic laws that govern the rest of society..."truer words were never spoken. in their eagerness to shed personal responsibility, many forget that politicians are not infallible. they make mistakes just like the rest of us.
morganmgheeDec 19, 2008
the difference is that that is exactly how the SS system was set up to operate, it's no secret. the people involved with madoff thought they were investing, that there money was intact and available to them at any time, and that the dividends they received were profits from that money.
morganmgheeDec 19, 2008
Oh, I never meant to imply it wasn't being messed around with or mishandled. But the basic bits of the ponzi scheme compared to the basic bits of the SS system as discussed in the article are what I was referring to. What you say is true.
stopthelieDec 19, 2008
Beautifully written - great article.