Opting Out of the Big Bank Fiasco and Moving Toward Self Sufficiency
The Rolling Stone March 2009 issue had an article by Matt Taibbi called Wall Street’s Bailout Hustle in which he likens the financial crisis bailout to a street con and makes a very good case of it, taking us step by step through the [...]
Posts Tagged ‘Ponzi scheme’
The Wall Street Hustle
Opting Out of Serfdom
Day to Day Living in the New Paradigm
In my last two blogs I talked at length about predatory lending and the debt economy getting us into trouble as a nation and as individuals.
We need to step out of the culture of easy money and magical thinking that allowed Ponzi schemes like Bernie Madoff- but not [...]
Madoff as Teacher not Devil
Madoff’s Lesson For Us
My friends, Matt and Geneen, lost all their retirement savings in the Bernie Madoff Ponzi scheme. Instead of being victims, they have used the experience in very constructive ways for themselves. I am not talking out of school here, because they have each publicized their plight in their own ways: together as [...]