The world’s fastest way to make money

The world’s fastest way to make money:

1) start a Ponzi scheme (pyramid scheme where new investors pay off old investors, basically a pyramid of fraud)

2) loan money to people who are not credit worthy and incorporate them into the Ponzi (guaranteed growth)

3) leverage up (gamble on the profits)

4) go to jail or get bailed out by your friends in the Congress or the Federal Reserve when the bubble pops (privatize the profits and socialize the loses)

Sound familiar?

Dr. William Black, chief prosecutor during the 1980’s S & L crisis, discusses the MBS/Derivatives fraud:

Banking and Securities Fraud 101

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