Comments on: Bernard Madoff: How to Create your own Ponzi Scheme: Consumer Psychology, Behavioral Economics, and Believing in the Free Lunch. http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/ How I Learned to Love Southern California and Forget the Housing Bubble Thu, 09 Feb 2012 06:16:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ned Carey @ Baltimore investing http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/#comment-35657 Ned Carey @ Baltimore investing Fri, 17 Apr 2009 07:52:53 +0000 http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/#comment-35657 Great in depth article. I am sure this guy will get his due. I just hope all the others involved including the regulators that ignored the problem get theirs too. Great in depth article. I am sure this guy will get his due. I just hope all the others involved including the regulators that ignored the problem get theirs too.

]]> By: landed-gentry http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/#comment-30054 landed-gentry Sun, 28 Dec 2008 01:12:35 +0000 http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/#comment-30054 I have a few islands for sale currently used for target practice. But they are uninhabited. SS would be fiscally sound in a normal work to profit driven economy, but if you base your calculations on a failing/fiat economy SS will also fail. But so will a private system. I have a few islands for sale currently used for target practice.
But they are uninhabited.

SS would be fiscally sound in a normal work to profit driven economy, but if you base your calculations on a failing/fiat economy SS will also fail.

But so will a private system.

]]> By: Consumed http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/#comment-29452 Consumed Fri, 19 Dec 2008 23:13:01 +0000 http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/#comment-29452 Will someone at the SEC explain why this was brought to their attention and they ignored it? http://www.scribd.com/doc/9189285/Markopolos-Madoff-Complaint Will someone at the SEC explain why this was brought to their attention and they ignored it?

http://www.scribd.com/doc/9189285/Markopolos-Madoff-Complaint

]]> By: Consumer http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/#comment-29437 Consumer Fri, 19 Dec 2008 20:03:33 +0000 http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/#comment-29437 Let us not forget that it takes two to tango! A Ponzi scheme only works where there are people who are either stupid or greedy or both that think they can get something too good to be true. Equally at fault are the money mangers and investment professionals who put money in this scheme--the real victims are the recipients of charities and grants, that had no impute into where the chartable money was invested. But the people that invested the money should also find another line of work. Let us not forget that it takes two to tango! A Ponzi scheme only works where there are people who are either stupid or greedy or both that think they can get something too good to be true. Equally at fault are the money mangers and investment professionals who put money in this scheme–the real victims are the recipients of charities and grants, that had no impute into where the chartable money was invested. But the people that invested the money should also find another line of work.

]]> By: JOHN http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/#comment-29320 JOHN Thu, 18 Dec 2008 16:46:48 +0000 http://www.doctorhousingbubble.com/bernard-madoff-how-to-create-your-own-ponzi-scheme-consumer-psychology-behavioral-economics-and-believing-in-the-free-lunch/#comment-29320 there is nothing new under the sun- ask your grandparents about vibrant street life in NYC about 60 years ago: BIG CON: Any big-time confidence game in which a 'mark' is put on the send for his money as contrasted to the SHORT CON where the touch is limited to the amount the 'mark' has with him.There are three recognized big-con games:the Wire,the Pay-off and the Rag. 1.locating and investigating a well-to-do victim: putting the mark up 2.gaining the victim's confidence : playing the con for him 3.steering him to meet the insideman : roping the mark 4.permitting the insideman to show him how he can make a large amount of money dishonestly : telling him the tale 5.allowing the victim to make a substantial profit : giving him the convincer 6.determining exactly how much he will invest : giving him the breakdown 7.sending him home for this amount of money : putting him on the send 8.playing him against a big store and fleecing him : taking off the touch 9.getting him out ouf the way as quickly as possible : blowing him off 10.forestalling action by the law : putting in the fix one may add 'hedging the loss'-that is the very meaning of 'hedge': raking in 100% annual returns without wondering where this money comes from then demanding bailout money or suing the 'Big Store' when things go sour. there is nothing new under the sun-
ask your grandparents about vibrant street
life in NYC about 60 years ago:

BIG CON:

Any big-time confidence game in which a ‘mark’ is put on the send for his money as contrasted to the SHORT CON where the touch is limited to the amount the ‘mark’ has with him.There are three recognized big-con games:the Wire,the Pay-off and the Rag.

1.locating and investigating a well-to-do victim:
putting the mark up
2.gaining the victim’s confidence :
playing the con for him
3.steering him to meet the insideman :
roping the mark
4.permitting the insideman to show him how
he can make a large amount of money dishonestly :
telling him the tale
5.allowing the victim to make a substantial profit :
giving him the convincer
6.determining exactly how much he will invest :
giving him the breakdown
7.sending him home for this amount of money :
putting him on the send
8.playing him against a big store and fleecing him :
taking off the touch
9.getting him out ouf the way as quickly as possible :
blowing him off
10.forestalling action by the law :
putting in the fix

one may add ‘hedging the loss’-that is the very meaning of ‘hedge’:

raking in 100% annual returns without wondering where this money
comes from then demanding bailout money or suing the ‘Big Store’ when things go sour.

]]>