Ive posted briefly on this subject before but let me elaborate.
We are all getting down on Mr Madoff for his apparent fraud of 50 billion. But as I said before our entire economy is based on Mr Ponzis system whether we like it or not.
Lets take stocks. Last ones in got burned. they do every time. Real estate. Same thing.
How bout government. Lets take social security, the biggest ponzi scheme ever devised on the face of the earth.
So before we get all upset with Mr Madoff lets look real close at the whole picture and understand that really everything financially connected that someone is to profit from is really a ponzi scheme and we are seeing a lot of the pain of this these days. But the legal ones are called unwinding or de leveraging. But really it means the last ones in loose everything just like a ponzi scheme.