Submitted by letsgetitdone on Fri, 09/16/2011 - 11:29pm
Rick Perry's loose talk about Social Security being a ponzi scheme, is generating a lot of contrary ink, or electronic bits as the case may be. Cullen Roche has provided an excellent analysis, accompanied by a great discussion which begins this way.
”First of all, let’s get the definition of a ponzi scheme right. According to the SEC, a ponzi scheme is “an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.” Quite simply, a ponzi scheme involves the promise of future payments that current returns do not justify.”
So, a ponzi scheme is:
-- an investment opportunity Read below the fold...
Submitted by Sarah on Thu, 10/01/2009 - 4:25pm
Submitted by Sarah on Thu, 04/16/2009 - 5:07pm
Submitted by DCblogger on Tue, 01/06/2009 - 10:37pm