MetaFilter posts tagged with Ponzi

We are all Madoffs

mareli — Tue, 01 Sep 2009 07:12:22 -0800

David P. Barash argues that our addiction to economic growth is a Madoff/Ponzi scheme.

So, how would I go about laundering money?

wallstreet1929 — Sat, 17 Jan 2009 07:09:05 -0800

If the Government is running a larger than usual Ponzi scheme, then developing your own abilities to launder money cannot be far behind. So, how would I go about laundering money?

Madoff Securities: Quality Executions and Service Through Innovative Technology

445supermag — Fri, 12 Dec 2008 20:50:02 -0800

Wall Street legend Bernard Madoff arrested over '$50 billion Ponzi scheme'. His company's website has a court announcement on the front page, but you can still find the old promises inside.

Ponzi Scheme, Credit Default Swaps in 2004 vs. 2008

Rafaelloello — Tue, 23 Sep 2008 03:46:05 -0800

"As no rational agent would be willing to take part in the last round in a finite economy, it is difficult to design Ponzi schemes that are certain to explode. This paper argues that if agents correctly believe in the possibility of a partial bailout when a gigantic Ponzi scheme collapses, and they recognize that a bailout is tantamount to a redistribution of wealth from non-participants to participants, it may be rational for agents to participate, even if they know that it is the last round. We model a political economy where an unscrupulous profit-maximizing promoter can design gigantic Ponzi schemes to cynically exploit this "too big to fail" doctrine." Sounds like something written this month in New York? Nope. The correct answer would be Bloomington, Indianna in 2003 Utpal Bhattacharya wrote On the Possibility of Ponzi Schemes in Transition Economies in 2001, but the above quote is from The Optimal Design of Ponzi Schemes in Finite Economies in 2003. Bhattacharya's proof works only where more than half the population takes part (hmm... How many people own homes?) Despite the Enron collapse and the published works of scholars like Bhattacharya, The $3.5 Trillion CDS market was still viewed this way in 2004. The current (collapsing) $64 Trillion CDS market is viewed a little differently in 2008. BTW, as of Yesterday, New York is going to try to regulate the CDS market. Good Luck NY.

Lou Pearlman's Ponzi Scheme

billysumday — Tue, 17 Apr 2007 08:31:25 -0800

Would you trust this man with your life's savings? Successful entrepeneur and president of Trans Continental Airlines cum boy band svengali, Lou Pearlman was the guiding hand behind N'Sync, the Backstreet Boys, and O-Town. Now, however, he's on the lam, wanted by the FBI for swindling old folks out of $317 million. Pearlman was last seen in Berlin on February 1st; as he sat in a crowded theater watching his latest creation, the German boy band US5, win an international pop award, FBI investigators were already combing through his Florida home and offices.

bkdelong — Thu, 11 Apr 2002 06:08:09 -0800

Herbalife to be bought for $685M. Does anyone else find this disturbing given the information revealed in this previous thread?

kfury — Wed, 27 Mar 2002 16:22:27 -0800

Earthlink founding investor Reed Slatkin to plead guilty of defrauding over 800 people out of $254 million in a Ponzi scheme. Several of the victims were members of the Church of Scientology, where he was a minister. Oh, and he filed for bankruptcy too so there's no chance for reparations... I don't know how to feel!