Jan. 5, 2023, 6:10 PM
Programming note: Money Stuff will be off tomorrow, back on Monday.
Good (alleged) scam
The simplest form of investment scam is that you promise people some attractive return on their investment, they like the promised return and give you their money, and you steal it. In this scam, what sort of return should you offer your marks in order to maximize your take? There are two basic approaches, which are:
- A reasonable return, or
The first approach was made famous by Bernie Madoff, who ran a gigantic Ponzi scheme that offered relatively modest, stable, boring returns. The advantage of this …
