Comments on: The 10 Nastiest Ponzi Schemes Ever

By: Bill G.

Bill G. — Thu, 01 Oct 2009 02:02:12 +0000

Ted,
Social Security is a retirement account. You can access it at any time plus go on site and see your account balance; or use an on-line investment calculator. Do that with a Pozi Scheme.

By: Commonwealth Club

Commonwealth Club — Wed, 26 Aug 2009 22:59:47 +0000

Though you might enjoy Mr. Frank’s expert take on this: Ken Fisher at the Commonwealth Club of California (8/11/09) Enjoy!

http://www.youtube.com/watch?v=V10CbPoAL9k

By: Bill G.

Bill G. — Mon, 17 Aug 2009 03:33:41 +0000

This is why one should read and study the field of trading instead of joining the band-wagoning to the slaughter. Any investor letting someone else invest his/her money is foolish. The trained and educated Technical Investor will never get caught up in a Ponzi scheme because “charts don’t lie” and people in the field of making money always lie (to get your money). Fundamental traders are ripe and dependent on what some crook says in the news, a.k.a Mad Money’s Jim Cramer.

When the news was reported on Entertainment Tonight about Bernie Madoff announcement of a major investment opportunity and only the “A-List need apply” (invited to participate). I nearly laughed my head off at the hook thrown out to sucker the ignorant so call “A-Listers” in. I was right.

My advice to all of you fundamental traders is to read and study technical trading and the Ponzi Schemers will disappear off the market by attrition, because no one will fall for it.

By: w.victory

w.victory — Mon, 13 Jul 2009 18:41:27 +0000

wait folks , how about mutual benefits corp. ? 30,000 thats right sir, 30,000 investors partook of the pie wherby a viators given 1/2 cash for his/her life insurance policy only to leave the investors who were promised a minimum of 12% per year to learn the drs. who performed the ha..life expectancy figures [what the term of the investment was based on]were in total cahoots w/thats right the good ol boys @ mbc thru a conspiracy[from day one]as they told the drs. well lets put this persons LE @ 36mos. this one @ 48 mos. etc etc.
all crapola.
lost a total of $2billion and NEVER a mention of it in media /tv or for that matter on-line.
ponzi scheme started in 94 w/sole intent on frauding the elderly !! bastards!! all in jail ,so what, does us no good . I say force them to work to repay every cent .
we are so weak to criminals that rip us off w/white shirts and ties on vs a gun in our faces, ludicrous!!and frauding those that put up the $$ so they could enjoy their last time on earth w/no financial worry leaving only the investors out in the cold w/nothing to show .
now in receivership and along the way . we are basically forced to make premium payments to maintain the policies our monies are tied to regardless of the fact this duty was what the co. MBC was paid to do.
I can only dream of the day when the viator passes away now . a direct different thought process I had when investing . thought I was helping the elderly ,so the conspirators turn us all against the viators in order to recover the have to die. so the insurance co. travelers etc will not give us the names of our viators for fear we do something to hasten their departure from this earth so we get paid.
we are NOT criminals as the schemers are but would like to get the real picture of how old ,what med cond. our viator is in .
by law the ins. co. has to make visits to check the status of the viators but have yet to inform us about this.
we sit waiting /no knowledge of how long while our wonderful gov looks out fro all the lawyers involved but not the principals they just say they doubt there will be any monies for the investors. makes a lot of sense doesn’t t? whata country where the crooks keep the $$ while only the attys . keep getting paid since they need the money so desperately..

By: George

George — Sun, 28 Jun 2009 03:25:42 +0000

Let’s face it. The main reason that these schemes were so successful is that people are GREEDY. I do not feel sorry for someone who is stupid enough to think that they can get enormous returns on their money when traditional sources are only paying small fractions of that amount. Also that ones who scream about losing millions never talk about the millions that they may have already made from these schemes when they got in at the start.
The so called brokerage house could be grouped into the same category. they often promise returns that they know are never going to occur.

By: Bernard

Bernard — Tue, 02 Jun 2009 18:42:07 +0000

@Lester Hunt – I think many, if not most participants in Ponzi schemes realize exactly what they’re getting into. Everybody knew Madoff was cheating – and they still wanted in. SS is like 401ks, the very definition of a Ponzi scheme – promises of returns that are impossible without new suckers – or willing participants – being drawn in.

By: Bernard

Bernard — Tue, 02 Jun 2009 18:33:57 +0000

How about 401k plans? Think about it. The only way your money can grow at the promised 7-10% per year, since the US GDP historically grows at 3-4%, is to continuously lure in fresh suckers. It’s the very definition of a Ponzi scheme.

By: Anthony Shaw

Anthony Shaw — Tue, 02 Jun 2009 18:23:24 +0000

Social Security is coercive and larcenous–spare me. Anybody ever heard of Wall Street? Banks credit card practices? Sorry but those are real criminal enterprises.

By: da scam

da scam — Tue, 02 Jun 2009 18:23:00 +0000

Here’s a scam for you to see. Investors were clueless as the employees.

http://www.sec.gov/litigation/admin/33-7672.txt

http://www.accessmylibrary.com/coms2/summary_0286-5658560_ITM

http://eastbay.bizjournals.com/eastbay/stories/2002/01/14/tidbits.html

By: Lester Hunt

Lester Hunt — Wed, 17 Dec 2008 15:11:38 +0000

Ted,

Social Security is not a Ponzi scheme. Yes, it is ethically problematic, but for a different reason that Ponzi schemes. After all SS “clients” know from the beginning that they are gaining at the expense of newer “clients.” The problem is that it is coercive and larcenous, not that it is fraudulent.