Monday, December 15, 2008

$50 billion hole in a pyramid scheme

I'm speechless.

what to say about $50 billion hole in a pyramid scheme?

when we analyze this economic crisis, we can be blame people who work in financial companies.. they earn TONS of money but creates nothing except disaster... many people lost their live savings.

it is worst than zero sum game

but nothing compares to $50 billion hole in pyramid scheme arranged by Bernard Madoff ex NASDAQ chairman...

on second thought, pension system in some countries is actually a legalized pyramid scheme...

On further note, many investors who invest in Bernard L. Madoff Investment Securities LLC KNEW Bernie had to be cheating, because the returns he was generating were impossibly good. But they thought it was insider trading, not a Ponzi scheme.

What the hell is the regulators & the auditors were doing???

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