Bernard Madoff and his Ponzi scheme has dominated the news coverage this week. The hardest part to watch has been the middle class individuals who were fooled into investing with Mr. Madoff. What was even worse are the pensioners who trusted the experts who invested their money for them. What a disgrace!
Millions of Americans are rightly outraged at Madoff’s greed and unscrupulousness. I don’t blame them and I feel bad for his victims. He belongs in jail.
But where is the outrage over the Ponzi scheme known as Social Security and Medicare? Do you think there is any difference between that and what Madoff did? If so, I have ocean front property in Arizona to sell you!
Think about it! What is the difference? Both schemes depend on new investors to dump their money in to pay for the old investors. Eventually, as the case of Bernard Madoff proves, things catch up. So why are so many of us outraged over Bernie Madoff but we fail to condemn our own government for running a much larger Ponzi scheme?
Nobody was forced to invest money with Bernard Madoff. Every American is forced into the Ponzi scheme known as Social Security and Medicare. Where are our choices? Where is our outrage? Bernard Madoff is just another distraction to take our minds off what our government is taking from us.
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Great point, LC.
And we should keep in mind that over the years Congress spent money in the fund for their pet projects to stay in power. Anyone ever cover that story?
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Madoff’s Ponzi scheme is being called “the Biggest hoax in American history” I guess they haven’t heard about Obama’s campaign promises, the bailout $trillion, or the current spending bill. Madoff is a piker, only small potatoes.
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