by David LaPlantz ·
Let’s put the face with the name Ponzi Schemes. This is Charles Ponzi, the Boston businessman/swindler who garnered millions of dollars from investors between 1919 and 1920. Is it possible that the recent, risky trading in mortgage-backed securities deserves the description of a Ponzi Scheme? And, why haven’t the perpetrators of this world wide, catastrophic Ponzi Scheme not been made to be accountable? The reason could be (the usual), perhaps friends in high places or well placed cash in the pockets of un-named officials or both…….
And the taxpayers continue to pay out, again and again – bailout after bailout – as bonuses continue to reward the crimes. Better the taxpayers toss ‘em some bones rather than bonuses!