$50 Billion Life Lessons – Episode #33

What lessons should we learn from Benard Madoff’s $50 billion ponzi scheme?

Update: Our thoughts and condolences go out to the family and friends of Thierry Magon de La Villehuchet.

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Links mentioned in today’s episode:

$50 billion fraud scheme

  • Jackie Kropman

    Ethan,
    Everytime I see you like this I am blown away. When did you become the man you are today? It was just yesterday you were asking me for a back scratch!!! I love you and wish you the best of everything in 2009 and way beyond!!!!!!!
    Aunt Jackie

  • ORION MACHINE

    Ethan, in truth, the banking systems are running the largest Ponzi Schemes... Thanks to fractional reserve lending they can lend out money they don't really possess.

  • Hey! Glad you found me over here :)

    LOL. So fractional reserve banking is a whole nother pandoras box, however I wouldn't call it a Ponzi scheme i.e. taking investors money promising a return and using new money to pay old investors.

    I will definitely be doing some episodes in the future addressing Fractional Reserve Banking.

    Happy Holidays!

    Ethan

  • abes

    great "season" see yall next year

  • Thanks Abes! BTW we're actually gonna be putting our 1 more episode this year on Monday the 29th. I was struck with an idea before my flight this morning and hustled to put it together :)

    Happy Holidays!

    Ethan

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