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Why is Madoff's Ponzi scheme illegal, when the current meltdown

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leftofthedial Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-15-08 03:07 PM
Original message
Why is Madoff's Ponzi scheme illegal, when the current meltdown
proves that all capitalism operates basically the same way?
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-15-08 03:09 PM
Response to Original message
1. Madoff was exceptionally brazen about it
and kept two sets of books.
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leftofthedial Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-15-08 08:05 PM
Response to Reply #1
5. style
not substance
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Robbien Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-15-08 03:12 PM
Response to Original message
2. Because Madoff said out loud the words "I am running a Ponzi scheme"
The other crooks out there are claiming they are good businessmen running good businesses. CNBC, the WSJ, the government, and Chamber of Commerce types all agree, Madoff and only Madoff is a ponzi schemer.

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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-15-08 03:14 PM
Response to Original message
3. And what the FDIC and the government are now doing to the currency
makes Madoff's Ponzi scheme look like child's play.
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clarence swinney Donating Member (673 posts) Send PM | Profile | Ignore Mon Dec-15-08 05:28 PM
Response to Original message
4. NOTHING NEW
JUST STUPID

RUSSIA BUYING BULL SPERM IN TENN. FOR BIG PRICE.

LOCAL SELLING STOCK WITH--GUARANTEE 14% RETURN.

MANY PALS SUCKERED.

BEST SALES PERSONS WERE INITIAL INVESTORS WHO GOT 14% FOR TWO YEARS. THEN NOTHING.

PALS JUMPED ON IT.

I WARNED IT WAS PONZI FOR IF INVESTMENT WAS WANTED THEY COULD SELL ALL THEY NEEDED IN TENN. WITH SUCH A GUARANTEE.THEY COULD BORROW LOW INTEREST MONEY THEMSELVES.

ONE YEAR LATER. "HE WARNED US"

IF IS TOO GOOD IT IS NOT GOOD

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