What is a Ponzi Scheme and Why Do We Call it That?

Ryan asks: What is a Ponzi scheme and why do we call it that? With our short memories, many of us have forgotten that long before Bernie Madoff defrauded his clients and lost $65 billion, another swindler, Charles Ponzi, ran a similar scam in 1920, bilking thousands of people out of millions of dollars by making them an offer that […]
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