Forum Post: OK how nay of you think Madoff is in jail for trading stock?
Posted 13 years ago on Oct. 13, 2011, 10:19 p.m. EST by ThinMan2
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5 comments 2 years ago by agkaiser
Ponzi Scheme. Just floating other people's money around in a fake fund... and sending the investors bogus reports of their supposed 'earnings'. I used to do it to my Parents when I was a kid. I could triple my allowance that way.
Social Security anyone?
Ha! Exactly. Didn't Ron Paul call Social Security a "ponzi scheme" in one of the debates recently?
Not sure.... lots of people have made the comparison. It's true. The only difference is Madoff didn't use the power of the government to force the working class into buying into his scheme. He mostly only bilked the rich.
I'll accept that. I saw a 20/20 documentary that made a point to summarize the entire Madoff debacle: "When greed meets greed... bad things start to happen."
Just Checking so many off you don't know all 50 states and such