Elizabeth Barrette (ysabetwordsmith) wrote,
Elizabeth Barrette

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Ponzi Nation

Yes: ponzi crime, ponzi economy, ponzi politicians, ponzi executives, ponzi society.  It all ends the same way.

Ponzi Nation: How Get-Rich-Quick Crime Came to Define an Era
Andy Kroll, TomDispatch.com: "Every great American boom and bust makes and breaks its share of crooks. The past decade - call it the Ponzi Era - has been no different, except for the gargantuan scale of white-collar crime. A vast wave of financial fraud swelled in the first years of the new century. Then, in 2008, with the subprime mortgage collapse, it crashed on the shore as a full-scale global economic meltdown. As that wave receded, it left hundreds of Ponzi and pyramid schemes, as well as other get-rich-quick rackets that helped fuel our recent economic frenzy, flopping on the beach."
Tags: economics, news

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