Politics and Poniz Schemes

[saden1]

Here's an amazing story about one of the greats Ponzi Schemes of all time. This thing reads like a screenplay starting DeCaprio. It's a long read but well wroth it. The greed, the lies, the banks, the hedge funds, the politicians, the churches, the hucksters, the forger, the auditors, the love affair....goodness, there's so many interesting piece on the board and to pull it all off as long as he did? Wow!

An Entrepreneur, A Born-Again Ex-Con, And The Pols Who Championed Them: The Untold Story Of A $36 Billion Swindle | The New Republic

[GMScud]

Never could stand those damn Poniz.

[Lotus]

Is a "poniz scheme" when a girl conspires to obtain little horses?

[Alvin Walton]

Poniz was one of the cops from CHIPS.

[SmootSmack]

This would be more interesting to read I suppose if I had a subscription so I could read the whole article

[saden1]

Hmmm....I read it using the link above without needing a subscription.

Here's it is from another site:
The Turnaround Men | Corporate Accountability | The Investigative Fund

[SmootSmack]

Better. Will read it later today

[NC_Skins]

I think they should expand the death penalty for people like this. People look at murder as being a heinous crime, but economic devastation is much worse than murder. With murder, it's fast and the person doesn't suffer. With economic devastation, the people suffer greatly and for long periods. (lifetime even) People lose their homes, their jobs.



Also, I hope you can see why I'm so adamant about corporate money being out of politician hands. Why isn't Bachmann having to give that money back? So if some bank robber gave me 100,000 after he robbed a bank, he doesn't have to give it back? You see why I'm angry at my government? The corruption.


They should also take the right, for Presidents to pardon people, away from that position. I was pissed off when Clinton pardoned that guy after his family dropped a huge sum of money into his library. It's sickening.

[Lotus]

Originally Posted by NC_Skins

I think they should expand the death penalty for people like this. People look at murder as being a heinous crime, but economic devastation is much worse than murder. With murder, it's fast and the person doesn't suffer. With economic devastation, the people suffer greatly and for long periods. (lifetime even) People lose their homes, their jobs.



Also, I hope you can see why I'm so adamant about corporate money being out of politician hands. Why isn't Bachmann having to give that money back? So if some bank robber gave me 100,000 after he robbed a bank, he doesn't have to give it back? You see why I'm angry at my government? The corruption.


They should also take the right, for Presidents to pardon people, away from that position. I was pissed off when Clinton pardoned that guy after his family dropped a huge sum of money into his library. It's sickening.

Actually the death penalty is a form of economic devastation. Contrary to the beliefs of many, it is much cheaper to give someone a life sentence than it is to put someone to death. So, for example, New Jersey was able to balance its budget in part because it abolished the death penalty. A study done in Florida showed that the state could save $51 million a year by abolishing the death penalty.

[NC_Skins]

Originally Posted by Lotus

Actually the death penalty is a form of economic devastation. Contrary to the beliefs of many, it is much cheaper to give someone a life sentence than it is to put someone to death. So, for example, New Jersey was able to balance its budget in part because it abolished the death penalty. A study done in Florida showed that the state could save $51 million a year by abolishing the death penalty.

Not if you use one of these.




I'm all for public executions as well. So much for me being a liberal. :cheeky-sm


I knew that fact by the way, still doesn't change anything. There is no reason why it should cost that much to carry out a death sentence.

[Lotus]

Originally Posted by NC_Skins

Not if you use one of these.




I'm all for public executions as well. So much for me being a liberal. :cheeky-sm


I knew that fact by the way, still doesn't change anything. There is no reason why it should cost that much to carry out a death sentence.

The reason why the death penalty is more expensive has little to do with the method of execution. It has to do with the fact that you have to be sure to be right before issuing a death sentence. We can't be putting innocent people to death (although we sometimes still do). This means expensive trials and inevitable appeals. So one study showed that each death penalty court case costs between $3 million and $4 million. The price to keep someone in maximum security prison for life costs about $750,000. So the death penalty is 4 to 5 times more expensive per case.

[MTK]

Originally Posted by Lotus

Actually the death penalty is a form of economic devastation. Contrary to the beliefs of many, it is much cheaper to give someone a life sentence than it is to put someone to death. So, for example, New Jersey was able to balance its budget in part because it abolished the death penalty. A study done in Florida showed that the state could save $51 million a year by abolishing the death penalty.

Plus it's just barbaric and the ultimate in hypocrisy.

[NC_Skins]

Originally Posted by Mattyk

Plus it's just barbaric and the ultimate in hypocrisy.

I've stated this before. I don't respond to bullies well. You kill a person because you were trying to rob him, or you plan the murder because you want their money or don't want to be married to them anymore. You die. It's a simple "eye for a eye" retribution. You call it barbaric or hypocrisy, I call it justice and retribution. I believe in protecting my own through whatever means necessary.


Guys that create this type of economic devastation also deserve to die. (add Wall Street bankers in there as well)

[Lotus]

Originally Posted by Mattyk

Plus it's just barbaric and the ultimate in hypocrisy.

Right on as always Matty.

[firstdown]

Originally Posted by Mattyk

Plus it's just barbaric and the ultimate in hypocrisy.

No its not.