Former Treasuer in New York Episcopal Parish Charged with Half a Billion Plus Alleged Fraud

Maybe 815 turned him in because they didn’t get their cut…

Oooooohhh…did I say that out loud???

The descending financial markets are causing Ponzi-type schemes to become exposed long before they would have in the prior market environment. Some reputable schools, like the University of Pittsburg and Carnegie Mellon allegedly lost big money in this one.

When I asked my grandmother what the depression was like, she said she didn’t feel poor because “everyone was poor.” Perhaps that is where we are heading.

Did these all happen under “W’s” watch.  Thank God the new president Obama is unearthing these schemes.

I think the current financial situation has more potential for evil and unrest than even the Great Depression, and partly for the reason Going Home (#2) mentions. For if we were ‘all poor’ and struggling together, that would be one thing, and we could be hopeful.

But our current financial crisis (of which multiple giant billion-dollar Ponzi schemes are only a part) seems to show that there have been special rules (and great wealth) for the powerful and well-connected, and that God-fearing and law-abiding Middle America will be expected to pay and pay for mistakes not ours, not just with our modest and well-earned financial well-being, but with heavy new taxes, a hostile small-business environment and the loss of many traditional American liberties.

Do you feel ‘set up?’ I do. All this seems like a recipe for profound, long-term disillusion and bitterness among those who have worked the hardest for our free society. On almost every level, whether it be political fraud, business fraud, or even ‘religious fraud (professing one thing, believing another), I feel scammed by almost every institution I once believed in.

You are not alone, Richard!