rxwine
rxwine
Joined: Feb 28, 2010
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September 20th, 2011 at 5:02:16 PM permalink
Quote: avargov

I just heard a report on the radio about FT owing players over 300 million, but less that 6 mil in cash is accounted for. Lederer has received 42 mil in payments, Jesus 25 mil with 62 still owed him.



Yeah, I would call the above a ponzi scheme, or even robbery if that's the case.
Quasimodo? Does that name ring a bell?
weaselman
weaselman
Joined: Jul 11, 2010
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September 20th, 2011 at 5:53:09 PM permalink
Quote: Wizard

I'm not a lawyer but I don't see any grounds here for a counter-suit. If they could claim libel and slander, why couldn't anybody do the same who beat a criminal case? For example, OJ could claim that his reputation was slandered by the LA District Attorney's Office after the jury in the criminal case found him not guilty.



You can't sue the DA (or any other participant in a court case) for libel or slander, all the work product is privileged.

Nareed mentioned wrongful prosecution (the correct term is "malicious prosecution" or "wrongful initiation of criminal proceedings") ... This is a tiny bit more realistic, but still pretty far fetched.
"When two people always agree one of them is unnecessary"
ncfatcat
ncfatcat
Joined: Jun 25, 2011
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September 20th, 2011 at 5:57:27 PM permalink
I won't play online poker. How do you know 2 or more players at the table aren't texting IMing or talking to each other on skype and colluding against the rest of the table?
Gambling is a metaphor for life. Hang around long enough and it's all gone.
dihaig
dihaig
Joined: Oct 8, 2010
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September 20th, 2011 at 6:08:16 PM permalink
If they are really guilty of what is being said, I wouldn't being hiring lawyers, I'd be hiring bodyguards.
EvenBob
EvenBob
Joined: Jul 18, 2010
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September 20th, 2011 at 6:12:51 PM permalink
Aren't all banks just a Ponzi Scheme? Remember the scene
in Its A Wonderful Life when the depositors tried to take out
all their money at once, and Jimmy Stewart explained to them
the money wasn't there, it had all been loaned out to home
buyers. Thats what all Savings and Loans and banks do, use
our money to make money by loaning it out.
"It's not enough to succeed, your friends must fail." Gore Vidal
ncfatcat
ncfatcat
Joined: Jun 25, 2011
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September 20th, 2011 at 6:26:59 PM permalink
EvenBob said "Aren't all banks just a Ponzi Scheme?"
See ref. Autumn 2008
Gambling is a metaphor for life. Hang around long enough and it's all gone.
Wizard
Administrator
Wizard
Joined: Oct 14, 2009
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September 20th, 2011 at 6:39:59 PM permalink
Quote: EvenBob

Aren't all banks just a Ponzi Scheme?



No. Legitimate banks make loans with most of their deposits. So the loans serve as assets. Even George explained that in Its A Wonderful Life. With a Ponzi Scheme the money that goes in goes right into the hands of previous investors. They own no assets to back up their so-called investments.
It's not whether you win or lose; it's whether or not you had a good bet.
EvenBob
EvenBob
Joined: Jul 18, 2010
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September 20th, 2011 at 6:40:27 PM permalink
Quote: ncfatcat

EvenBob said "Aren't all banks just a Ponzi Scheme?"
See ref. Autumn 2008



Whats Autumn 08 mean?
"It's not enough to succeed, your friends must fail." Gore Vidal
ncfatcat
ncfatcat
Joined: Jun 25, 2011
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September 20th, 2011 at 6:47:51 PM permalink
Autumn 2008 when the investment banks mortgage ponzi scheme began to unwind with the assimilation of Bear Stearns and the bankruptcy of Lehman Bros. Of course Goldman Sachs escaped since all their ex employees jsut happened to be working for the government Find a documentary film named "Inside Job"
http://www.imdb.com/title/tt1645089/
Gambling is a metaphor for life. Hang around long enough and it's all gone.
EvenBob
EvenBob
Joined: Jul 18, 2010
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September 20th, 2011 at 6:53:01 PM permalink
Quote: Wizard

No. Legitimate banks make loans with most of their deposits. So the loans serve as assets.



Yet with both banks and Ponzi's, if the investors/depositors all
demand their money at once, its not there. Feels the like the
same thing to them. Thats why banks failed in the Depression,
no FDIC, no Fed money to back up the deposits.
"It's not enough to succeed, your friends must fail." Gore Vidal

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