HEDGE FUNDS are PYRAMID SCHEME - OFFICIAl

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	HEDGE FUNDS are PYRAMID SCHEME - OFFICIAl

jerry23w

12-13-2008 8:38 AM

243 views

tags:

economy, pyramid scheme

jerry23w says:

The writing has been on the wall for a while but there is no denying it now.. the trouble is its not just hedge funds but any economy that relies on indefinite growth that is effectively a pyramid scheme, with an expanding population and natural resources filling in the bottom level~ until the natural resources run out... coming to a world near you SOON...............

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/ddc92506-d123-4aff-9af3-490b3497eeb7/26EAE730-E058-49D0-B6BC-6FA7639F0499/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://news.bbc.co.uk/2/hi/business/7781086.stm" href="http://news.bbc.co.uk/2/hi/business/7781086.stm" style="font-size: 11px;">news.bbc.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7781086.stm"><P class="first"><B>Worried investors are rushing to assess the extent of potential losses after the alleged $50bn (£33.5bn) fraud by the ex-head of the Nasdaq stock market.</B>
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According to the US Attorney's criminal complaint filed in court, Mr Madoff told at least three employees on Wednesday that the hedge fund business - which served up to 25 clients and had $17.1bn under management - was a fraud and had been insolvent for years, losing at least $50bn.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7781086.stm"><P>He said he was "finished", that he had "absolutely nothing" and that "it's all just one big lie", and that it was "basically, a giant Ponzi scheme", the complaint said.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://news.bbc.co.uk/2/hi/business/7781086.stm"><P>Under a Ponzi scheme, also known as a pyramid scheme, investors are promised very high returns on their investment, while in reality early investors are paid with money collected from later investors.
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