A ponzi a day keeps the doctor away

The Madoff scandal put the phrase ‘ponzi scheme’ back on the tips of everyone’s tongues, and the concept of stealing/losing/burning gargantuan sums of money in everyone’s mind. Since that time we’ve seen…

  • A Florida-based money manager who travels in ‘elite’ circles disappear, leaving only a note and a Subaru – monies in the sum of an estimated $350 million vanished along with him;
  • A hedge fund manager jump out of a moving plane (that seconds before he was piloting) to avoid capture for possible theft of his clients’ money – he’s busted after ditching his second internal combustion powered machine, a bright red motorcycle;
  • And now a guy supposedly syndicating ‘bridge loans’ is busted for mail fraud – his name is Cosmo and his company is Agape World (which sounds more like a fruit stand you’d find off US-1 in Homestead).

    • Who cares about the fraud, the deceit, the disappearing millions billions trillions. If anyone was really concerned about that, all they’d have to do is check out the latest bailout plan. Or better yet, take a gander at their annual Social Security statement. I mean the [taxpayer] money given to banks, to keep them from falling face first into some supposed abyss, is being managed prudently as ever – they’re buying $50 million corporate jets with it.

    It’s all good. So sit back, relax, and enjoy the show.

    January 27, 2009

    In Office

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