Who was Ponzi and what did he scheme?

For those of you, like me, who are tuned into CNN on a regular and are appalled by the state of financial disrepair in which our nation currently finds itself – you may also, again like me, ask yourself – Who is this Ponzi guy and what exactly did he scheme?

For those of you questioning this same thing, CNN published a piece dedicated to Charles Ponzi and exactly what it was that he did.

You can find it here:

Who was Ponzi — what the heck was his scheme?

One comment

  1. Can we now call it a Madoff Scheme instead of a Ponzi scheme? Seriously, though, I’ve always understood what a Pyramid Scheme was and then the media decided to call it a Ponzi Scheme. Why? Feels a little insensitive to the Italian community to constantly reference this “Italian immigrant” as several articles point out when there is an understood definition of what a Pyramid Scheme is (yes, same definition as a Ponzi Scheme).

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