Thursday, June 24, 2010

Ponzi Schemes

Well, I'm not alone. I checked in on an Investment Club that I joined to find the following:

Palm Beach Gardens investment group collected $27.7M from Ponzi scheme, SEC says

The "Club" has been in litigation with the originating company since this time last year. Supposedly the funds are frozen and all are waiting for the lawsuit trial to start in September. We'll see.

It may be asked: How can somebody as smart as me be conned into something like this. Answer: I'm only as good as the information that I am given.

I'm not alone.

Remember when President Bush was told that Saddam Hussein had weapons of mass destruction? Then when we get there, there's none to be found! (or so we're told.) President
Bush acted on information that was given to him. So who's at fault here? The President or his advisors?

So now we're involved in a Ponzi Scheme in Afganistan and Iraq. Our Government is sending assets over there, and we're not getting a return on our investment. Then, when a leading General points that out to our President, the General gets "beheaded", just like when somebody spoke out against the King in Feudal times.

Obviously our President is not capable of taking public criticism.

So, I'm not alone. It doesn't make it any easier. Fortunately, I had taken steps to lessen the impact of loss from the Club.

But, like the olde saying goes: "If you don't try, you won't know." I tried. Many things. Some successes, some failures.

And my Sister in her wisdom has advised me against making SOME mistakes a THIRD time!

Thank God for having a conscious. Even if she does live in Florida.

Keep the rubber side down, and your chins up!