tag:blogger.com,1999:blog-1573015459789360915.post3579247584632359033..comments2024-01-02T23:22:21.430-05:00Comments on The Guild Review: Ponzi Schemes and Social SecurityAaron Lindermanhttp://www.blogger.com/profile/15992073027586818751noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-1573015459789360915.post-25352243820470181662009-04-11T11:08:00.000-04:002009-04-11T11:08:00.000-04:00I just found an article that explains the one esse...I just found an article that explains the one essential difference between Social Security and Ponzi schemes as coercion. Madoff couldn't force people to give him their money, whereas the government can force us to pay taxes into Social Security.<BR/><BR/>http://www.businessinsider.com/henry-blodget-whats-the-difference-between-madoff-and-social-security-2009-4Stephenhttps://www.blogger.com/profile/10825489013036249581noreply@blogger.comtag:blogger.com,1999:blog-1573015459789360915.post-4033995388943295302009-01-07T17:08:00.000-05:002009-01-07T17:08:00.000-05:00Another way that Madoff avoided detection for so l...Another way that Madoff avoided detection for so long was that there was a group of enablers who profited from the scheme and had no incentive to report him. It's possible that these people didn't technically "know" what Madoff was doing, but they certainly didn't investigate their suspicions.<BR/><BR/>Here's a good article explaining that point about willful blindness:<BR/><BR/>http://online.wsj.com/article/SB123128761903059219.html?mod=rss_opinion_mainStephenhttps://www.blogger.com/profile/10825489013036249581noreply@blogger.comtag:blogger.com,1999:blog-1573015459789360915.post-68412544850723054632009-01-06T14:25:00.000-05:002009-01-06T14:25:00.000-05:00What an obstute observation. I tend, in my fairly ...What an obstute observation. I tend, in my fairly ignorant opinion, to agree with you. I guess the most obvious difference, however, is that a Ponzi scheme is deception - it tells you the money is coming from somewhere it isn't. With Social Security we can see whats going on- if we stop listening to everything to government tells us.Caitlinhttps://www.blogger.com/profile/10574296000884377853noreply@blogger.com