May 12, 2009

Do the fakers drop out?


Michael Kenna, Night Walk, 2008

* Ponzi Schemes of the Carribbean. Good, long read. abstract:

"In several Caribbean states, unregulated investment schemes grew quickly in recent years by claiming unusually high monthly returns and through a system of referrals by existing members. These are features shared with traditional Ponzi schemes and pyramid schemes. This paper describes the growth of such schemes, their subsequent collapse, and the policy response of regulators, and presents key policy lessons. The analysis and recommendations draw on country experiences in the Caribbean, and in such diverse countries as the United States, Colombia, Lesotho, and Albania."

* Scenes from the Ninth Circle of Financial Bureaucracy.

* "I contend we are both atheists, I just believe in one fewer god than you do. When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours." -- Stephen F. Roberts

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