Word: returns
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...named William Miller, who bilked investors out of $1 million - nearly $25 million in today's dollars - in 1899. After drumming up interest by claiming to have an inside window into the way profitable companies operated, Miller - who earned the nickname "520 percent" due to the astonishing rate of return he promised investors over the course of a year - salted his scam by paying out the first few investors. After his racket was exposed by a newspaper investigation, he was sentenced to 10 years in prison. According to Zuckoff, his creditors got just 28 cents back for every dollar they...
...coupons would cost $3.30 in Boston," where Ponzi was based. But there weren't enough coupons in circulation to make the plan workable. The ploy bore the hallmarks of both Miller's scheme and others to follow it: it trumpeted the possibility of massive gains (Ponzi promised a 50% return in just 90 days), parried questions about its legitimacy by paying out the first few investors, and collapsed when Ponzi couldn't rustle up enough fresh marks to keep up with the money going out the door...
...studies Anya Bernstein, only one person has concentrated in Social Studies after spending a full year studying off-campus. “I’ve watched people crash and burn trying to do it,” she says, referring to two students who ultimately changed concentrations after returning to campus.With the clock ticking, Peisker turned to the Department of Government, presenting her situation and her plan to spend a year abroad. “Are you still going to take me?” she asked. “They said ‘sure...
Acclaimed cyberlaw expert Lawrence Lessig will return to Cambridge next summer, extending Harvard Law School’s recent streak of poaching top-flight professors from rival schools. Lessig will re-assume a professorship at the Law School after nine years at Stanford, where he said he moved in 2000 to be closer to his wife, a native of California. In addition to being a law professor, Lessig will direct the Edmond J. Safra Foundation Center for Ethics. Calling Lessig “one of the most brilliant and important legal scholars of our time,” Law School...
...world's worst humanitarian disasters, Islamic terrorism and rampant human trafficking have all failed to draw the world's interest to Somalia. The return of piracy to the high seas, however, has. The Somali pirates have attacked more than 100 vessels in the waters leading to and from the Suez Canal this year, and earned tens of millions of dollars in ransom. Today they are holding 17 ships with around 300 crew members off the Somali coast. And at a weekend security conference organized by the International Institute for Strategic Studies in Bahrain, headquarters to the U.S. Navy...