$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

    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


    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!


  • 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!


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