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Friday, April 9, 2010

Ponzi-Scheme Perpetrator Gets 50 Years

“A federal judge sentenced the Minnesota businessman Tom Petters to 50 years in prison on Thursday for orchestrating a $3.7 billion Ponzi scheme that included hedge funds, pastors, missionaries and retirees among its victims.” (New York Times, Friday)

The government doesn’t like competition.

FEE Timely Classic
“The Myth of the Social Security Trust Fund” by John Attarian