Can Ponzi schemes exist without the greed of the "Investors"?

[d9f1c7]

http://www.bbc.co.uk/...gland-london-17256318
Ok these guys are guilty of fraud but were it not for the greed of the punters they'd have nothing to "sell". Can you con an Honest man?

[Zeuhl]

Well much of 'Finance' and modern stock trading revolves around creating money out of nowhere - which usually means out of someone else's pocket.

Sometimes it's really there - and sometimes it isn't.

People shouldn't gamble with more than they can afford to lose.

I have about as much sympathy for Investors as for Bookies and the Punters who prop up the wall in the local betting shop.

[Old_Geezer]

Honest folk are conned all the time. They are too trusting for their own good.

So it is to be considered greed now to think you have found a good investment and to have bought into it ?

[d9f1c7]

They were paying 20% when you get diddly squat out of most other investments. mmmm?

[d9f1c7]

sorry that was 20% a month!

[Zhukov]

In the immortal words of Mr.T,"Crazy Fools"!

[Old_Geezer]

You would be referring to a particular incident. In general you need not be dishonest to be conned.

[EDDIE51]

If something seems too good to be true it almost always is.
Supposedly intelligent people handed over cash thinking they were going to earn 20% a month !!! In my book they got what they deserved .

[douglas9401]

Short and sweet EDDIE and bang on the money.

[birdie1971]

I don't have a great deal of sympathy for the investors. Some (if not all) of those duped were incredibly greedy. I heard one investor interviewed earlier this evening who had sunk half a million pounds into the scheme. This guy is sitting on £500,000 of savings and he gambles it away on a dubious investment with the promise of a 20% a month return!

Is it right he was conned – no.
Is he a greedy idiot – yes.

[NOX]

Let's get this straight- a Ponzi scheme, although debatedly illegal- is a very transparent thing and people DO earn huge amounts before they collapse, the problem is they always DO collapse, the trick is to know when to jump ship with your finds and not re-invest- hencethey always DO collapse. I don't think anyone was necassarily conned here- just lead by their own greed and as such have very little sympathy, but it largely depends how these two pitched it and who to.

[bazwillrun]

"A fool and his money are easily parted"

Remember the Lloyds syndicates ?, easy way to make loads of quick dosh ?!

When it went pear shaped all the greedy investors lost lots of money very quickly, then started crying and shouting foul.

[Old_Geezer]

And got their own way eventually didn't they ?
It seems if folk like myself lose money then that's expected and the risk we took. But if anyone else does, then it isn't fair, they can claim, and get all their stake back again. Particularly true in any situation where they can saddle the cost onto the taxpayer.