Wikinvest Wire

60 Minutes on Ponzi schemes

Monday, February 15, 2010

From 60 Minutes yesterday comes more insight as to why Ponzi schemes will probably always be with us, that is, as long as human nature is what it is.

That's a new approach to ads for embeddable videos - first a 60-second introduction and then a 60-second commercial, a length that really pushes the limits to what people will stick around for. Fortunately, this clip is worth the wait.

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Dan said...

We wouldn't want to live in a world where we couldn't be conned, because in effect, we would then be living in a world where we mistrusted, or refuse to trust, anyone. This is the price we pay.

I agree. However, I don't think we should want to sanction or otherwise tolerate certain fraud i.e. Fractional Reserve Lending. Perhaps it is our trust that keeps us from realizing certain fraud over other fraud?

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