Posted on Wednesday, April 27th, 2011 by Russ Fischer
In this age of disgusting financial misdeeds, it’s good to remember the roots of the art of big-time financial cons. So tip your hat to turn of the century shitbag Charles Ponzi, who refined a fraudulent scheme of creating the illusion of short-term gains by leveraging new investment to pay off other investors. He didn’t invent the con, but perpetrated it on a scale that was previously unheard of. The Ponzi scheme is basically a trademark financial con, and is the root of the scamming that led to the 2008 financial meltdown. Bernie Madoff ran basically the largest Ponzi Scheme ever, bilking people out of $21 billion.
And now Milos Forman, whose career has been seemingly close to dormant for a decade (though he’s never been the most prolific director, with three major films in the ’80s and two in the ’90s) is going to direct a film about Charles Ponzi. Read More »