Posts in "ponzi"

Creating something out of nothing

Dec 23, 2008 at 3:31 AM

Obama announces a new "job creation" target of 3 million jobs. For his next trick, he's going to pull a rabbit out of a hat and power the Whitehouse's electricity needs using a perpetual motion device. On that note, do read Lew Rockwell's latest piece for the von Mises institute: Madoff as Metaphor.

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Hospital losses millions from Ponzi scheme collapse

Dec 16, 2008 at 10:04 PM

By Zachary Kurtz

The North Shore-LIJ Hospital system's bone marrow donation center relied on donations from investors involved in Bernie Madoff's Ponzi scheme and is now down and out $1.8 million. I expect similar stories from other charities that rely on private donations now that the cash flow is starting to stem. Is this a case for government interventionism? No...