Ponzi schemes are team games, too

Posted by on Feb 22, 2010 in Copying, Current Affairs | No Comments


Pic of Charles Ponzi c/o scrapetv

Nice sceptical NYT piece today which rightly points out that the investors themselves have at least some responsibility for what happened (the dodgy fella himself and the poor show from the regulators notwithstanding).

"Of course it's safe", we say to ourselves. "Look at all those other folk who are investing with him…"

Social proof, I'd call it.