Ponzi Schemes – Would you fall for one..?
This isn’t a rhetorical question and I’m not going to fill this blog detailing all of the reasons why you would or wouldn’t fall for a Ponzi scheme, I am literally asking – would you fall for a Ponzi scheme!?
I followed the Bernie Madoff story as eagerly as anyone, my eyes bulging as I read how many billions were involved, how much could be recovered and how much was, for all intense and purposes, lost.
I too felt sympathy for the people affected and also rather smugly felt that it wouldn’t happen to me, more so, that I wouldn’t let it happen.
But the more I read about Ponzi schemes the more I feel I have to admit that I would take the bait. In a nut shell, the promise of a high return with low risk may indeed seem a little too good to be true, and some alarm bells may ring but I think Bernie Madoff’s name (pre 2008) next to it would be enough of a convincer I think I would fall hook, line and sinker.
Do you think the lure of a good thing can be appealing enough to shut off the logical part of your brain? Or do you think you have learnt a valuable from the exposure of Bernie Madoff’s Ponzi scheme – are you now sufficiently armed against them? Please let me know by commenting below!