Bernie got a bum rap
There is an article this week on The Chronicle Review from the Chronicle of Higher Education that comes pretty close to ‘must reading’. “We are all Madoffs” by David Barash (University of Washington) makes a simple, and surprisingly powerful, connection between the Bernie Madoff’s ponzi scheme and what we are all doing to God’s creation.
If you are one of the few who don’t remember exactly what Bernie did that had the entire nation enraged, it was this: He ran one of the country’s largest (and most successful – until he was caught) pyramid schemes. The idea was simple, the execution complex and ingenious: Collect “investments” from people – pay “dividends” back to those people from new “investments” from other people. The scheme runs well until you run out of new investors or someone blows the whistle. Read more »
