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3 Bumps

Bernard 'Bernie' Madoff was quoted....

as saying that the U.S. government is just one bit ponzi scheme.... do you agree or disagree?

Answer Question
 
Skipo510

Asked by Skipo510 at 9:43 PM on Apr. 5, 2011 in Politics & Current Events

Level 12 (666 Credits)
Answers (12)
  • He would know. He wrote the Ponzi Scheme for Dummies book!
    meooma

    Answer by meooma at 9:44 PM on Apr. 5, 2011

  • SS always has been a ponzi scheme. There are actually many ponzi schemes, including state workers pensions, federal workers pensions in the government. The government doesn't nor has it ever " made" any money.
    jewjewbee

    Answer by jewjewbee at 9:46 PM on Apr. 5, 2011

  • It made money over the bailouts , apparently . i don't know about US federal pension schemes but some of the private sector ones are as they are unfunded . Just ask the employees of Enron and Northern Telecom who relied on their pension schemes and found they were victims of fraud and executive greed .
    janet116

    Answer by janet116 at 9:55 PM on Apr. 5, 2011

  • Just ask the employees of Enron
    --
    you mean like us??
    the money was made, and it was there. Enron made money, they just spent it all and inflated the stock price.Madoff never made money, nor does the government.
    jewjewbee

    Answer by jewjewbee at 10:01 PM on Apr. 5, 2011

  • I think the alliteration was meant more to the fact that as a Ponzi Scheme can never get smaller. It constantly gets bigger and bigger and the moment it stops growing is the begining of its failure. So with people talking about needing to downsize the government and cut government spending are we at risk for more than just a bunch of overeducated idiots hurling insults and making excuses that make less and less sense?
    Skipo510

    Comment by Skipo510 (original poster) at 10:07 PM on Apr. 5, 2011

  • Enron was a victim of failure to fully disclose to the public and errors in "make to market" accounting and not a ponzi scheme.
    grlygrlz2

    Answer by grlygrlz2 at 10:08 PM on Apr. 5, 2011

  • Madoff never made money, nor does the government.

    ^this^
    grlygrlz2

    Answer by grlygrlz2 at 10:09 PM on Apr. 5, 2011

  • he money was made, and it was there. Enron made money, they just spent it all and inflated the stock price.Madoff never made money, nor does the government.
    ____________________
    Enron lost huge amounts of money! Their money was the same kind of money Madoff made...fake. I wouldn't take anything Madoff said seriously...he is a liar and con.
    stacymomof2

    Answer by stacymomof2 at 10:18 PM on Apr. 5, 2011

  • Enron lost huge amounts of money
    --
    no, they never really lost money.
    they said they had money when it wasn't there.
    they inflated stock prices and had a shady CPA firm that was willing to cook the books.
    My portfolio with Enron at one time said 85K, it was never worth that it was more like 15K.
    Through time and the legal process we got our money, the real money that was actually there, not the fake overinflated amounts previously stated. Money was never lost, because it was never there to begin with.
    jewjewbee

    Answer by jewjewbee at 10:57 PM on Apr. 5, 2011

  • Agree
    vbruno

    Answer by vbruno at 11:12 PM on Apr. 5, 2011

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