When running a Ponzi scheme, how does one avoid enormous, unexpected withdrawals - runs on the bank, so to speak - that would pull back the curtain and reveal a little man blowing smoke? One way would be to attract a core of investors who could be counted on to never withdraw more than a small percentage of principal each year.
No Ponzi schemer tells anyone exactly how it works. The purpose of a Ponzi scheme is to trick people, to take the money and run. - Mitchell Zuckoff
No Ponzi schemer tells anyone exactly how it works. The purpose of a Ponzi scheme is to trick people, to take the money and run.
- Mitchell Zuckoff
Sending a book out into the world is a lot like sending your child to the first day of kindergarten. You hope the other kids play nice and that she m… - Mitchell Zuckoff
Sending a book out into the world is a lot like sending your child to the first day of kindergarten. You hope the other kids play nice and that she m…
Bob Altman got nothing from the TV series 'M*A*S*H,' and the royalties for the theme song went to his oldest son, Michael, who wrote it as a 15-year-… - Mitchell Zuckoff
Bob Altman got nothing from the TV series 'M*A*S*H,' and the royalties for the theme song went to his oldest son, Michael, who wrote it as a 15-year-…
We've suffered a "Ponzification" of the economy in recent years, as bubbles have built up and then burst, and each time we act as though it's the fir… - Mitchell Zuckoff
We've suffered a "Ponzification" of the economy in recent years, as bubbles have built up and then burst, and each time we act as though it's the fir…
My favorite pre-Ponzi schemer was known as '520 Percent Miller' because he promised 10 percent returns a week, or 520 percent a year. Of course he wa… - Mitchell Zuckoff
My favorite pre-Ponzi schemer was known as '520 Percent Miller' because he promised 10 percent returns a week, or 520 percent a year. Of course he wa…
Fear is something i don't you experience unless you have a choice. If you have a choice, you're liable to be afraid. But without a choice, what is th… - Mitchell Zuckoff
Fear is something i don't you experience unless you have a choice. If you have a choice, you're liable to be afraid. But without a choice, what is th…
Nathaniel Philbrick's 'In the Heart of the Sea' has rightfully taken its place as a classic for its literary merits. It has a special place in the ca… - Mitchell Zuckoff
Nathaniel Philbrick's 'In the Heart of the Sea' has rightfully taken its place as a classic for its literary merits. It has a special place in the ca…
I was researching a different World War II story when I came across an article in the 'Chicago Tribune' from June 1945 that knocked me for a loop. Th… - Mitchell Zuckoff
I was researching a different World War II story when I came across an article in the 'Chicago Tribune' from June 1945 that knocked me for a loop. Th…
I know that plenty of folks have issues with Social Security, but I'd urge them to confront it on its own terms. Calling it a Ponzi scheme is mislead… - Mitchell Zuckoff
I know that plenty of folks have issues with Social Security, but I'd urge them to confront it on its own terms. Calling it a Ponzi scheme is mislead…
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