Crush Madoff's Head

Aaron

#1 – 1:38 PM July 17, 2009

They should make a version of FDR, founder of the world's biggest ponzi scheme, Social Security.

Stefing

#2 – 12:44 AM July 19, 2009

"Aaron" - Social Security is about the more capable helping the less capable ("From Each According to His Means, To Each According to His Needs"), Madoff and Ponzi schemes are the exact opposite.

Aaron

#3 – 12:04 PM July 19, 2009

When did FDR quote Karl Marx's "from each" dictum?

No, it's about the government collecting from me for 26 years so far (probably at least another 26 years to go, too) and the current government spending it as it receives it and the boomers slightly older than me sucking it dry before there's anyone to pay for mine.

Trust me, the retired on SocSec have MUCH more discretionary income than I do.

A Ponzi Scheme is where the current contributors are paying the earlier entrants. It falls apart when there are insufficient new contributors [aka suckers].

dculberson

#4 – 6:37 AM July 20, 2009

"Trust me, the retired on SocSec have MUCH more discretionary income than I do."

[citation needed]