My New Blog

Ponzi

   I am not ashamed to admit that I had to Google "Ponzi." I completely understand that Bernie Madoff lost a lot of people a lot of money, but I had never heard the term "Ponzi Scheme" before. For others out there like myself, I have prepared a brief description of Ponzi Scheme. 
    A Ponzi scheme is an operation where investors are paid returns from there own investments rather than from profit. The name Ponzi comes from Charles Ponzi, an Italian who immigrated to America in 1903. Though his name became associated with the scheme, he was not the one to invent it. Charles Dickens referenced the scheme in his 1844 book Martin Chuzzlewitt.
    Isn't Google grand?