A Quote by Tim Lee

The financial system as a whole has had the characteristics of a Ponzi scheme if we look at it fundamentally.

Tim Lee

Quote Topics

Characteristics Financial Financial System Fundamentally Had Look Ponzi Scheme Scheme System Whole

Quote Author

Tim Lee
Comedian
Born: 1977

The whole government is a Ponzi scheme.

Bernard Madoff

No Ponzi schemer tells anyone exactly how it works. The purpose of a Ponzi scheme is to trick people, to take the money and run.

Mitchell Zuckoff

In no system which shows mental characteristics can any part have unilateral control over the whole. In other words, the mental characteristics of the system are imminent, not in some part, but in the system as a whole.

Gregory Bateson

The powers of financial capitalism had a far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.

Carroll Quigley

The only reason there is a crisis about Social Security in the US and pensions in Europe and Japan is that you cannot maintain a "Ponzi" scheme indefinitely. We have collected from today's young to pay today's old and counted on tomorrow's young to keep doing so. That was a fine scheme as long as the number of young people was rising faster than old people. When that ratio comes to an end, such a system also has to end.

Milton Friedman

Capitalism is not a Ponzi scheme. Capitalism is a scheme of free markets.

John C. Bogle

Madoff Securities is the world's largest Ponzi scheme.

Harry Markopolos

The welfare state may be well-intentioned, but it is a Ponzi scheme

Dennis Prager

Washington treats Social Security like a Ponzi scheme.

Ron Johnson

Social security isn’t a ponzi scheme. It’s not bankrupting us. It’s not an outrage. It is working.

Rachel Maddow

I know that plenty of folks have issues with Social Security, but I'd urge them to confront it on its own terms. Calling it a Ponzi scheme is misleading and does more to cloud the issue than it does to illuminate it. And yes, I do know that unless changes are made, the current system is unsustainable. But that doesn't mean it's fraud.

Mitchell Zuckoff

In a Ponzi scheme, a promoter pays back his initial investors with money he has raised from new investors. Eventually, the promoter can no longer find enough new investors to pay off the people who have already put up money, and the scheme collapses.

Alex Berenson

For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.

Henry Paulson

No matter how the financial system is set up, no matter what the economic system is, as long as you have people, you're going to have financial crises; you're going to have bubbles that manifest themselves in the financial system.

Henry Paulson

The Libor system is structurally flawed. It is a major problem for our financial system and for the confidence in the financial system. We need to address it.