2nd largest fraud behind Enron uncovered: Bernard Madoff arrested over alleged $50 billion fraud

[kreactor]

maybe if some rockerfeller soro tycoon or senator types (or their relatives) net worth implodes, we'll see some noise and get some hearings
instead of these baseball steroid hearings just a year ago

 

[Jhhnn]

you can't scam an honest man.

Heh. Of course you can- happens all the time, particularly in the home improvement racket... used car racket... mortgage racket...

And, uhh, if that's true, how did GWB get elected, twice?

 

[Zebo]

The whole stock market is basically a ponzi scheme facilitated when Reagan authorized 401K for unsavvy workers, the insane P/E ratios that it brought, and the lack of dividends paid over the last 20 years. That house of cards, once baby boomers start pulling, will make this look like petty thievery.

 

[LegendKiller]

Originally posted by: Zebo
The whole stock market is basically a ponzi scheme facilitated when Reagan authorized 401K for unsavvy workers, the insane P/E ratios that it brought, and the lack of dividends paid over the last 20 years. That house of cards, once baby boomers start pulling, will make this look like petty thievery.

A ponzi scheme? Are you kidding me? If you call that a ponzi scheme then anything that's an appreciating asset is a ponzi scheme. 401k, long term, is a great investment. Dividends have been paid by repurchasing stock.

So, what exactly is going to happen to the money they "pull"? It won't go to paying for goods and services that'll feed back into the economy?

 

[Zebo]

Originally posted by: Brigandier

Originally posted by: alchemize

Originally posted by: LegendKiller
Gotta love how hedge funds are pretty much completely unregulated, yet, in this "free market" they still scam the shit out of people. You don't hear about this type of stuff with Fidelity.

You can't scam an honest man.

Honest people are the easiest to scam.

Exactly why two bit scam artists go after elderly.

 

[Zebo]

Originally posted by: LegendKiller

Originally posted by: Zebo
The whole stock market is basically a ponzi scheme facilitated when Reagan authorized 401K for unsavvy workers, the insane P/E ratios that it brought, and the lack of dividends paid over the last 20 years. That house of cards, once baby boomers start pulling, will make this look like petty thievery.

A ponzi scheme? Are you kidding me? If you call that a ponzi scheme then anything that's an appreciating asset is a ponzi scheme. 401k, long term, is a great investment. Dividends have been paid by repurchasing stock.

So, what exactly is going to happen to the money they "pull"? It won't go to paying for goods and services that'll feed back into the economy?

That money will not go back into our economy but overseas to our bankers and for trinkets not helping us one bit. As eligible withdrawals become available I think as strapped as Americans have become there will be more of a run than an proper annuity schedule crashing the markets. I don't disagree it's been a great long term investment but then again the larger the ponzi scheme is and the more adherents it can claim the longer it takes to collapse. Call it a century long ponzi scheme if you want. Adding new suckers every year via 401K, then 403B's then SS they hope ....but make no mistake it will collapse. http://blogs.salon.com/0002007/2004/05/07.html#a723

 

[Dari]

If it was all just a Ponzi scheme and he didn't actually invest, where did all the money go?