Word: ponzis
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...than the expected medical advances. There are today 3.4 wage-earning (and Social Security-contributing) American workers for every person over 65. In 2030 there will be only two workers for each of the elderly (which is why economist Hokenson, of DLJ, calls Social Security "the mother of all Ponzi schemes"). Those two are either going to have to work a lot harder to support all the old folks, or we will see a spectacle of misery unprecedented in the world's wealthiest nation. Two irrefutable facts, the size of the boomer generation and the tendency of the elderly...
...downtown New York City loft. Contrary to his pledge, Giacchetto began gambling on risky ventures, and a number of stars grew concerned over poorly organized or absent financial statements. According to a federal indictment, Giacchetto was drawing unauthorized checks from his clients' accounts to cover his expenses. In a Ponzi-like scheme, he would also allegedly loot the account of one customer to pay off another. Though he did reimburse some clients, others are out a bundle--and Giacchetto, who is free on a $1 million bond, may never eat lunch in any town again...
...lawsuits indicates that many new recruits wound up on syndicates that were heavily exposed to asbestos claims, allowing key insiders--including Murray Lawrence, a future chairman of Lloyd's, who would serve from 1988 to 1990--to quietly lay off their own risks. "It has been a classic Ponzi scheme, in my opinion," British investor John Finlay told a House of Commons committee...
...premise of this would-be son of Forrest Gump is an idealistic Ponzi scheme. The receiver of a good deed must do good deeds for three other people. They, in turn, must benefit a total of nine. Before long, millions are doing unto others, assuming Saddam Hussein and his like are kept out of the loop. It's an appealing idea but--sorry to be a meanie--seriously stunted. Hyde tells far more than she shows. A plodding love affair, tinny dialogue and awkward symbolism don't help. It's as if the novelist had ceded her imagination...
...will be, if regulators and prosecutors in states from Florida to California get their way. Late last summer a federal grand jury in Florida indicted Frederick Brandau and his company, Financial Federated Title & Trust, for allegedly defrauding thousands of viatical investors across the country in an elaborate, $115 million Ponzi scheme. Brandau's attorney denies the allegations. Just a month ago, two officers of Justus Viatical, a Pompano Beach, Fla., firm, were charged with selling investors $2 million worth of fraudulently obtained life-insurance policies. Their lawyer calls the indictment a farce. And insurance heavyweights like American General and John...