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TOPIC: 50 billion gone up in smoke?

50 billion gone up in smoke? 16 Dec 2008 15:28 #30546

  • Mike
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Even as we become numb to all the bailouts and abuses and false billings the staggering fakery of Madeoff and his completely phony 50 billions is unbelieveable. If you point a gun at someone and steal a Iphone from them you'll do 10 years. What do you do to people who conspire to steal tens of hundreds of millions from people. If a few more were publicly executed against a wall I think the national culture of corruption might slow down a bit. Just mho. :S
Michael Hurley
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Re:50 billion gone up in smoke? 16 Dec 2008 15:48 #30548

  • bob1007
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I agree with your reasoning. Bernard Madoff will be brought to justice. And at the age of 70, if found guilty, he more more than likely will spend his last days in prison. The problem then becomes how do you even begin to remunerate the victims?

Another issue to consider is that of governmetal regulation. Do we need that type of governmental overseeing to protect our interests? Does deregulation work? Look at what has happened with the airlines, phone companies, and utility companies after deregulation.
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Re:50 billion gone up in smoke? 16 Dec 2008 19:53 #30552

  • Mike
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I think that people who are making tens of millions a year should be regulated until they squeal.
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Re:50 billion gone up in smoke? 16 Dec 2008 20:33 #30554

  • muviebuf
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A "Ponzi Scheme" is by definition one where the money is not put aside and invested for future returns but rather one in which new money coming in is immediately paid out to pay off the promised return to already existing participants.

In other words..... Social Security is just one giant Ponzi scheme.
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Re:50 billion gone up in smoke? 17 Dec 2008 16:10 #30557

  • Mike
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Geez. Are you telling me that military pensions are a "ponzi" scheme? :) I don't think so. I think there is a great difference between a ss system that's been working well since the 30's and a criminal endeavor. Call me a silly boy but I cans ee the difference.
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