No end to Ponzi schemes: What's next?

Tuesday, December 16, 2008

Illegal Glacier investment: From Mish

Here's the deal: Spork invested 95% of his hedge fund in Icelandic glaciers, a private venture in which he held a significant interest. Furthermore he posted a 159% return without earnings, income or recorded values. To top it off he allegedly loaned himself money based on future performance fees.

Hey why not? The fine's only $1 million and he has already booked $3 million in fees.
Only in Canada you say, pity.  Himalayan glaciers anyone, going fast, get 'em before they're gone - Lee
Miami Herald: Ongoing Coverage of Mortgage Fraud:  From The Big Picture
Just read this and be astonished - Lee 
Rogue Nation:   From Jesse
Jesse argues that the entire financial system in the United States is a giant ponzi extension does that mean global?  Cataclysmic but fun to read..agree or not - Lee

Which brings us to the cartoon frenzy:  from various blogs (click image to enlarge)

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