Tuesday, April 06, 2010
Bernie Madoff vs. The Government
Why did Bernie Madoff go to prison? To make it simple, he talked people into investing with him. Trouble was, he didn't invest their money. As time rolled on, he simply took the money from the new investors to pay off the old investors. Finally there were too many old investors and not enough money from new investors coming in to keep the payments going. Next thing you know Madoff is one of the most hated men in America and he is off to jail.
Some of you know this but not enough of you. Madoff did to his investors what the government has been doing to us for over 60 years with Social Security. There is no meaningful difference between the two schemes except that one was operated by a private individual who is now in jail, and the other is operated by politicians who enjoy perks, privileges and status in spite of their actions.
Do you need a side-by-side comparison? Well here's a nifty little chart.
See the entire article and chart here: Patriot Humor
Penny and Doug
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Quote of the Day:
"You give me a credit to which I have no claim in calling me 'the writer of the Constitution of the United States.' This was not, like the fabled Goddess of Wisdom, the offspring of a single brain. It ought to be regarded as the work of many heads and many hands." --James Madison, letter to William Cogswell, 1834