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I would be super worried about having a resume filled with ponzi schemes.

by gonzo41 4y ago

mrtksn 4y ago
Unless you are applying for the next big thing.
winReInstall 4y ago
But what if your career is crime and you need just 2 additional ponzi schemes, to quadruple the crime output.
sandworm101 4y ago
Just like every ponzi scheme, the trick is to get out in time. I wonder how many people worked for Madoff but left before it all fell apart. How many of them are now working in other financial jobs? or Lehman bros.
- permo-w 4y ago
  I mean you could say that about investments in general
- kasey_junk 4y ago
  Lehman brothers wasn’t a Ponzi scheme.
  - sandworm101 4y ago
    Scheme no, but it was a company that fell apart quickly. Employees would be better served to get out and secure a new job the day before a crash rather than the day after.
    - kasey_junk 4y ago
      That’s true of any company going out of business. We don’t typically count it against employees for future hiring when that happens though.
- voytec 4y ago
  Madoff employed mostly family and family friends, excluding his first lieutenant Frank DiPascali.
- radicalbyte 4y ago
  Madoff ran two companies, his legit side and the con. They were pretty well firewalled. Most of those in the legit business knew nothing.
- notch656c 4y ago
  Fun fact, one of the biggest benificiaries of madoff's scheme is believed to be madoff's victim/investor Jeffry Picower. Picower may have figured out it was a Ponzi and agreed to "invest" in the scheme when Madoff became desperate for liquidity. But there was plausible deniability as he was just a guy who bought in at times and sold off at others. So maybe the actual trick is people like Picower, who identify these schemes and then leverage the scheme to their advantage while all along looking like another victim and never once speaking about their suspicions or getting involved in the mechanics. Which brings me to think perhaps the Picowers in SBF's scheme were some of his investors who figured out it was a scheme but believed they could cash out before it toppled.

I would be super worried about having a resume filled with ponzi schemes.

mrtksn 4y ago

Unless you are applying for the next big thing.

winReInstall 4y ago

But what if your career is crime and you need just 2 additional ponzi schemes, to quadruple the crime output.

sandworm101 4y ago

Just like every ponzi scheme, the trick is to get out in time. I wonder how many people worked for Madoff but left before it all fell apart. How many of them are now working in other financial jobs? or Lehman bros.

permo-w 4y ago
I mean you could say that about investments in general
kasey_junk 4y ago
Lehman brothers wasn’t a Ponzi scheme.
- sandworm101 4y ago
  Scheme no, but it was a company that fell apart quickly. Employees would be better served to get out and secure a new job the day before a crash rather than the day after.
  - kasey_junk 4y ago
    That’s true of any company going out of business. We don’t typically count it against employees for future hiring when that happens though.
voytec 4y ago
Madoff employed mostly family and family friends, excluding his first lieutenant Frank DiPascali.
radicalbyte 4y ago
Madoff ran two companies, his legit side and the con. They were pretty well firewalled. Most of those in the legit business knew nothing.
notch656c 4y ago
Fun fact, one of the biggest benificiaries of madoff's scheme is believed to be madoff's victim/investor Jeffry Picower. Picower may have figured out it was a Ponzi and agreed to "invest" in the scheme when Madoff became desperate for liquidity. But there was plausible deniability as he was just a guy who bought in at times and sold off at others. So maybe the actual trick is people like Picower, who identify these schemes and then leverage the scheme to their advantage while all along looking like another victim and never once speaking about their suspicions or getting involved in the mechanics. Which brings me to think perhaps the Picowers in SBF's scheme were some of his investors who figured out it was a scheme but believed they could cash out before it toppled.