Thursday, January 8, 2009

As Madoff is exposed in a $50bn Ponzi scheme in the USA...Is the US Congress not in a similar position with the expose in the I.O.U.S.A documentary?

Before you read any further, take a look at the site and watch the 30 min shortened documentary of the current financial position of the USA, caused by the government's mismanagement.

Then ask yourself the question - why is the scheme that Congress has perpetrated for years in taking Social Security money and the like to fund their expenses, not a Ponzi scheme, far greater that Madoff's? They are taking the savings and have taken the savings of the Baby Boomers to fund their current debt, and now expect the new generations of the USA to pay the Baby Boomers their dues? Mr. Madoff, who was arrested on December 11, is accused in a criminal complaint of one count of securities fraud. In the complaint Madoff is quoted as saying his investment business was a fraud, “basically, a giant Ponzi scheme” whereby earlier investors are paid off with the investments of newer clients.