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Pastimes : G&K Investing for Curmudgeons
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To: sand wedge who wrote (519)1/12/2000 7:57:00 PM
From: LindyBill  Read Replies (2) of 22706
 
to the Ponzer scheme

His name was Ponzi, Sand. He was an Italian immigrant who opened up a bank in NY in the '20's. He paid such high interest that he got all of the other Italians in NY to give him their money. He was robbing Peter to pay Paul, of course. The Government caught up with him, put him in jail, and stole his idea. They call it Social Security.
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