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To: 10K a day who wrote (198113)10/17/2002 9:28:24 AM
From: stan_hughes  Respond to of 436258
 
Hey pristy - Is that some sort of variation on the "do gamblers win or do winners gamble" conundrum?



To: 10K a day who wrote (198113)10/17/2002 9:56:27 AM
From: orkrious  Respond to of 436258
 
one day it is all going to come out, and it's going to be very ugly



To: 10K a day who wrote (198113)10/17/2002 11:26:55 AM
From: GraceZ  Respond to of 436258
 
Dude, years ago a good friend of mine who is usually fairly reasonable attempted to talk me into an actual pyramid scheme. The way he got sucked in was thus. You go to these meetings where they pay off the early "investors" and as they pay them off they count out the money in cash out loud with everyone chanting along. The sight of all that cash being handed over is what sucks people into the game. Now they all are smart enough to understand the math and the exponential growth problem inherent in any pyramid game, but its that promise of free money that sucks them in.

I said no to him. I told him my decision had nothing to do with fear of not getting the pay out, it had to do with the idea that for everyone who gets a pay out it means that hundreds of people lose everything they put in and I have a moral objection to something designed to do that.

Needless to say my friend lost the whole 10k he put in and now I'm sworn to secrecy never to tell his fiscally conservative wife that he did something so completely stupid (she doesn't do web, so I'm safe talking about it here).

The dumbass things people will do to make money never ends.



To: 10K a day who wrote (198113)10/17/2002 12:12:34 PM
From: Les H  Read Replies (2) | Respond to of 436258
 
Pyramid scheme in action

thegenesisprogram.org

builder/seller gives money to 'charity'. 'charity' gives money to buyer. buyer purchasese home fom builder/seller. there are some out there with 10 percent downpayment grants.

wonder when the banks stopped requiring borrowers to provide the downpayment from their own means?