Who is Charles Ponzi?Posted: September 15, 2008
Maybe I shouldn’t look at the news this early when I can’t sleep. Then again, maybe I should read it more carefully. I don’t pretend to have a full understanding of the situation, but the current state of the US economy is starting to kinda freak me out. It’s like all of the major financial institutions were duped by some kind of elaborate Ponzi scheme. When viewed from a certain angle in the correct circumstances – e.g., economic collapse – the similarities between a Ponzi scheme and the stock market are striking.
Despite the numerous possibilities, I’m only posting this link (for posterity). Laziness? Perhaps. …but if you’ve opened any newspaper, gone to any news website, or otherwise tuned into any kind of news outlet in the past few months I think you know what I’m talking about. The thing I’m trying to figure out (as indicated by this post’s title): who benefits? The scheme really isn’t a good one if the “mastermind” doesn’t walk away with a ton of cash, right? So…who is Charles Ponzi here?