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Getbig Main Boards => Politics and Political Issues Board => Topic started by: paulsed1 on February 20, 2009, 08:46:11 PM
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or does it seem awfully coincidental that all these con artists and ponzi schemes just happen to be coming to light now during the financial crisis. Seems to me guys like Madoff and whoever else might be fall guys for whoever is really taking the money. Maybe not either, but it makes you wonder.
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:D
Good observation ;)
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Not only are more coming to light, ...but more & more of them are popping up each day.
That's why there is this thread: http://www.getbig.com/boards/index.php?topic=264882.0 (http://www.getbig.com/boards/index.php?topic=264882.0) to help people make sense of things, so hopefully they won't get sucked in by them, ...or worse yet, ...miss out on a wonderful, viable, legitimate opportunity that could truly help them. Proper knowledge put-to-use is power.
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or does it seem awfully coincidental that all these con artists and ponzi schemes just happen to be coming to light now during the financial crisis. Seems to me guys like Madoff and whoever else might be fall guys for whoever is really taking the money. Maybe not either, but it makes you wonder.
Not at all, when it just popped up a close family member of mine who make a living as an investment broker told me right away, he let it out now because he will be able to blame the crisis and get off with a light sentence.
With good enough lawyers he will be able to "prove" that it wasn't a ponzi scheme and it failed just because of the crisis.
Good timing on his behalf.
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or does it seem awfully coincidental that all these con artists and ponzi schemes just happen to be coming to light now during the financial crisis. Seems to me guys like Madoff and whoever else might be fall guys for whoever is really taking the money. Maybe not either, but it makes you wonder.
won't these type of schemes fall appart naturally on a big downturn. Dude was taking money from new investors and giving it to older investors who would in turn bring in new investors through how good he did for them. The well of new money could have been drying up, game over. the operation would be more and more vulnerable to downturns the larger it gets. He went through the dotcom bust like this but it was probably smaller and this is a bigger downturn for sure. I may totally be wrong because I don't know all the details to the case, haven't followed close. But it seems like a natural time for cons like this to hit a wall.
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won't these type of schemes fall appart naturally on a big downturn. Dude was taking money from new investors and giving it to older investors who would in turn bring in new investors through how good he did for them. The well of new money could have been drying up, game over. the operation would be more and more vulnerable to downturns the larger it gets. He went through the dotcom bust like this but it was probably smaller and this is a bigger downturn for sure. I may totally be wrong because I don't know all the details to the case, haven't followed close. But it seems like a natural time for cons like this to hit a wall.
Funny thing is that Madaoff didn't even give crazy returns, he gave something like 10% or less if I recall correctly.
And considering that his scheme is going on for YEARS , putting most of the money in regular bonds (older bonds have much higher intrest rates) + medicore and less management of the money would have yield that and much more.
Thus I believe that something isn't exactly as it seems, I think he is the front man and some more "evil" powers really ran that scheme.
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won't these type of schemes fall appart naturally on a big downturn. Dude was taking money from new investors and giving it to older investors who would in turn bring in new investors through how good he did for them. The well of new money could have been drying up, game over. the operation would be more and more vulnerable to downturns the larger it gets. He went through the dotcom bust like this but it was probably smaller and this is a bigger downturn for sure. I may totally be wrong because I don't know all the details to the case, haven't followed close. But it seems like a natural time for cons like this to hit a wall.
You're absolutely correct. ponzi schemes ALWAYS collapse leaving victims in their wake.
http://www.getbig.com/boards/index.php?topic=264882.msg3726070#msg3726070 (http://www.getbig.com/boards/index.php?topic=264882.msg3726070#msg3726070)
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You're absolutely correct. ponzi schemes ALWAYS collapse leaving victims in their wake.
http://www.getbig.com/boards/index.php?topic=264882.msg3726070#msg3726070 (http://www.getbig.com/boards/index.php?topic=264882.msg3726070#msg3726070)
The irony....the god damn irony....but I like how you try to be against that....talk about a double agent...damn....nice work.
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my only question/observation was, is it strange these scams would hit their wall in this kind of downturn?
Nope... it's to be expected. In this environment some things tank while others soar. It's cyclical.
There are forces that are bigger than us, ...that take place regardless of what they want, think or do.
These forces will either crush us, ...or they will push us into success.
All depends on whether we catch it on a downward trend or an upward trend.
Rather than rail against the coming storm, ...choose instead to dance in the rain.
Ponzi's should never be participated in... too many victims, ...and one victim is one too many.
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Your answer goes into other stuff. I just thought it would not be abnormal for Ponzi systems to hit their wall, especially advanced ones during this kind of down turn. I noted this as a reply to the thread subject. I'm not thinking of starting one lol..
I don't dance in the sun, why would I dance in the rain? actually I don't dance at all.
(http://www.jaguarenterprises.net/images/em/shocked.gif)
two left feet huh?
that's ok, ...just dance like no one's watching you. (and wear some ear plugs so you won't hear them laughing. :P)
Is it not customary in Canada to prepare for coming storms? It is where I'm from. People stock up. Not because they're railing against the storm, just because the storm might sock them inside for a long period. If this storm is coming that people are talking about, it might not be a bad idea. Sure some opportunists will come out on high ground but there is virtually zero chance of everyone coming out better off. Can't happen no matter how hard everyone tries. Reality dictates preparation as a base in case of the worst.
Yep... Stocking up isn't railing against the storm, ...it is preparing to dance in the rain.
Luck can often be defined as when preparation meets opportunity.
You should take women dancing in the rain. {pssst} Their T-shirts get wet. :P