. >> it turned out it was all a ponzi scheme. mr.nvestor money to file lawsuits. instead he used money to fund his champagne-and yachts lifestyle. >> we three kings be stealing the gold. >> in the end, it would be the largest ponzi scheme in florid how big did it get? >> ballpark, a billion, billion and a half dollars. >> and then halloween eve, 2009. more than a year had passed since melissa's murder with tony villegas still sitting in jail awaiting trial. and another twist to the story. >> scott rothstein has disappeared. >> unlike melissa, scott was not a murder victim, but he was a fugitive. a bernie madoff figure on the run. he'd left the country in a private jet for morocco with $16 million in cash and his collections of watches and jewelry, fleeing after learning on happy investors had gone to the fbi. one week later he was back in florida but not under arrest. what no one knew was that scott had cut a deal with the fbi to act as an informant. >> this is scott rothstein, november 16th, monday, 1:43 p.m. >> he wore a wire and h

a fraud is a pyramid scheme could it be it's a ponzi scheme in the quintessential role is not the right definition. and there was no idea i think when this cool computer program was developed that they were going to start a fraud but by the same token there's not a thing that i've looked into as a regulator and a government official over the years financial product that wasn't based upon something and this is based upon nothing other then the market you say you'll pay me or i say i'll pay you for a bit there's no there there there's no physical certainty there it's not even like an equity where you're buying a little bit of a company and i do think a lot of these folks that bought bitcoins at the low price and some other digital currencies that they are betting on the future but not the long term future they need new investors similar to ponzi scams to get in in order to buy these things so the more people talk about how big coins are great investment i get concerned that average folks who i've always you don't care about the most as those people might get taken advantage of so you don'

rossello: government was run, essentially, as a big ponzi scheme. sharyl: it sounds like at least mismanagement, and perhaps even corruption. gov. rossello: certainly a total lack of accountability in puerto rico, managerial foresight, and certainly corruption. scott: in paris, france in 2015, there were two seemingly the two incidents were linked by the women in the attackers' lives, who had exchanged more than 500 messages in the days leading up to the bloodshed. audrey alexander: are they the most likely to take up arms and attack a concert venue? statistically speaking, no, but the threat picture is a lot more dynamic. scott: in chat rooms and on twitter, alexander tracks the women behind some of the virulent anti-western rants posted on social media on a daily basis. sharyl: what kinds of questions dominate media and culture today, in your view? frank sesno: i think, in this diet of questions, types of questions, we're bingeing on the confrontation. >> since you're attacking us, can you give us a question? >> is a question an attack? sharyl: wh

so the most famous example of this probably still is the ponzi scheme. we call it that because charles ponzi operated this in boston in the early 1920s. he focused on the entire community. >> >> we welcome you and/or your a hospitality. with the first goal deal i represent china so that is a natural connection one of the things we have learned is there are multiple cultural issues coming up in the chinese american economy i cannot imagine how to address these issues. >> thank you very much. and to be on the national committee board end of your contributions i am a senior director for education programs at the national committee in rehab period of all decided to take time this evening to join us for what i am sure will be an interesting and thought provoking discussion. wheel of us discussion among the three of us then open it up to questions and comments from the audience. if people are in the overflow room and you have questions come over and we will accommodate your question as well. congratulations on your book the official publication date is tomorro

that's being fair and balanced of course some people say that help to buy in the united kingdom was a ponzi scheme but ponzi schemes do help some participants the good news is that some of these are listed companies in the united kingdom and their profits have boosted so that is a boom to the economy well certainly to a certain class of people within the economy that's the good news because remember for the united kingdom we've got to say good things about whatever fraud is committed there has to be a positive side to it presented so we're presenting the positive side and that's the house builders have done well this is a new report out and the chancellor philip hammond is lining up another ten billion pounds to extend the help to buy programs first launched by george osborne in two thousand and thirteen which is already sucked up ten billion pounds of taxpayers' cash yet a report from morgan stanley not usually the type to stick the knife into flagship government policy lays bare how this colossal saw has been almost entirely wasted. yeah it's interesting because under margaret thatcher th

that's being fair and balanced of course some people say that help to buy in the united kingdom was a ponzi scheme but ponzi schemes do help some participants the good news is that some of these are listed companies in the united kingdom and their profits have boosted so that is a boom to the economy well certainly to certain class of people within the economy that's the good news because remember for the united kingdom we've got to say good things about whatever fraud is committed there has to be a positive side to it presented so we're presenting the positive side and that's the house builders have done well this is a new report out and the chancellor philip hammond is lining up another ten billion .

that's being fair and balanced of course some people say that help to buy in the united kingdom was a ponzi scheme but ponzi schemes do help some participants the good news is that some of these are listed companies in the united kingdom and their profits have boosted so that is a boon to the.

that's being fair and balanced of course some people say that help to buy in the united kingdom was a ponzi scheme but ponzi schemes do help some participants the good news is that some of these are listed companies in the united kingdom and their profits have boosted so that is a boom to the economy well certainly to certain class of people within the economy that's the good news because remember for the united kingdom we've got to say good things about whatever fraud is committed there has to be a positive side to it presented so we're presenting the positive side and that's the house builders have done well this is a new report out and the chancellor philip hammond is lining up another ten billion pounds to extend the help to buy programs first launched by george osborne in two thousand and thirteen which is already sucked up ten billion pounds of taxpayers' cash yet a report from morgan stanley not usually the type to stick the knife into flagship government policy lays bare how this colossal saw has been almost entirely wasted. yeah it's interesting because under margaret thatcher ther

so the most famous example of this is the ponzi scheme, that's why we call it a ponzi scheme, charles ponzi operated thisin boston . >> and he focused on the italian community is what he came from. >> but the earliest example i know is the scene by a woman, sarah how in the 1870s in boston and she focused on unmarried women. >> bond of trust. i'm unmarried, you're unmarried and there are brokers giving you resources that you will need to make good on my promises of wild investment return. once that then starts going, the chief marketers of the scheme are not advertising they sport them up and that is a pattern that has recurred right up till. >> you can watch this and other programs online at booktv.org. >>. >> hello.

it's of ponzi scheme. >> juan: here's a ponzi scheme deconstructed for you. people who buy an will discover that they don't have protection but if they actually get sick, their cost will go up and they will be devastated. >> kennedy: your forcing men to buy her maternity care. >> lisa: juan, i also love you but there's a big here as well. i'm just so sick and tired of hearing things like this from nancy pelosi in the democratic party including yourself because the reality is, there's so much criticism. you want to criticize everything that republicans have been trying to do what they've offered but what solutions have the democratic party offered to fix what they broke from the beginning? >> juan: you have a port but here's a thing. remember, you had 60 plus votes by republicans to repeal obamacare. then you have the opportunity over the course of the drum presidency with a republican majority in the house and senate defined replacement plan and was there replacement plan that was better? >> harris: i miss the sound of sandra's voice and i want to hear about

he's referring to an interview where i was asked about another republican who made the comment about ponzicomment. it was somebody else. let me tell you what i think about social security. i think it's a fundamental bull washing of our society, and i think too many politicians in washington are recklessly letting it ska reason towards insolve i. and i campaigned all across the country on strengthening social security, doing it so that those on social security or near retirement, there are no changes at all. every dollar, every penny of benefit is protected, but for young people, people my age -- >> you're not so young anymore. >> you'd be surprised. bit for people of younger generations, you know, if there are a lot of young people here, it's interesting, you ask young people how many of you think social security will be there for you and there are very few that will raise their hand. we need to reform social security and we can do that by gradually raising the age not for -- >> senator, we're almost out of time. i just want to follow-up on this question at hand. $2.4 trillion over ten yea

ricardo rossello: government was ran, essentially, as a big ponzi scheme, and we were at the last levelit sounds like, at least, mismanagement and perhaps even corruption. gov. rossello: yes, certainly. certainly mismanagement, certainly a total lack of accountability in puerto rico, managerial foresight, and certainly corruption. sharyl: the uphill battle to fix puerto rico. it's a story you won't see anywhere else. on the next "full measure." thanks for watching. until for more stories that hold powers accountable. >>> welcome to "government matters" with francis rose. >> the only show covering the latest news, trends, and topics that matter to the business of government. i'm your host francis rose. >>> the white house is reviewing the comments, organizers that individuals have made to the draft report to the president on i.t. it is suppose to have a final report that the council will send president donald trump. it addresses three major areas, network modernization and consolidation, and shared services and

so the -- most most famous example of this still off to dislagging it so the ponzi scheme that's why we call it charles had in in boston in 1920s you focus on the italian community which is what we came from but earliest example that i know of is -- by a woman actually sarah in 1870s in boston, and she focused on unmarried women. bond of trust i'm unmarried you're unmarried, and there are quakers who give me resources that enable me to -- make god on my promises of qield investment return and once that then starts going chief marketers of the scheme it is not advertise, it's word of mouth. an that is -- that is a pattern that has reare occurred right up to our time. >> you can watch this and other programs online,s at booktv.org. here's a look at some books being published this week. pulitzer prize winning biographer ron explores the life of president s. grant. in billionaire at the barricades barricades -- ...

lies lies lies it's an it cannot taper a ponzi scheme janet yellen is bernie made off in a skirt you cannot reduce the level of phony money in the system by even a dollar without crashing j.p. morgan crashing wall street crashing the property market crashing planet earth economy and also keep in mind that janet yellen and mary are draggy and kuroda and mark carney in the u.k. i forgot about weren't together and the global central bank balance sheet is skyrocketing in debt we now have three and a half time gold bull g.d.p. in debt thanks to debt monetization by central bank oh well stay right there. how does it feel to be a sheriff the greatest job in the world it's as close to being a king as any job there is what business model helps to run a prison now we just do it on like i said you'll be video visitation i don't know what comes anymore we don't have to sarge and many more is defective that's what they want to do that you know and they don't give a damn if you did so it's a matter they're badly painted to put it back into. the louisiana incarceration rate is twice as high as the

lies lies lies it's a cannot taper a ponzi scheme janet yellen is bernie made off in a skirt you cannot reduce the level of phony money in the system by even a dollar without crashing j.p. morgan crashing wall street crashing the property market crashing planet earth economy and also keep in mind that janet yellen and mary are draggy and kuroda and mark carney in the u.k. i forgot about weren't together her and the global central bank balance sheet is skyrocketing in debt we now have three and a half time gold bull g.d.p. in debt thanks to debt monetization by central bank oh well stay right there. don't go away. here's what people have been saying about rejecting the night was you know i was actually just full on awesome and i was the only show i go out of my way to launch you know really what it is that really packs a punch at least yampa is the john oliver of r t america is doing the same we are apparently better than blue things that i see people you've never heard of love redacted tonight my president of the world bank hates to leave the army seriously send us an e-mail. on the. ha

lies lies lies it's a cannot taper a ponzi scheme janet yellen is bernie made off in a skirt you cannot reduce the level of phony money in the system by even a dollar without crashing j.p. morgan crashing wall street crashing the property market crashing planet earth economy and also keep in mind that janet yellen and mary are draggy and kuroda and mark carney in the u.k. i forgot about weren't together her and the global central bank balance sheet is skyrocketing in debt we now have three and a half time gold bull g.d.p. in debt thanks to debt monetization by central bank oh well stay right there. the goal was rock. the boat. what holds a hinge to shut it up to. put themselves on a lot. to get accepted or rejected. so when one of the first injury. or some water rushed. up to the right to be first to see what the floor three of them or ten people that the bible understood was in the waters of. the ship. about your sudden passing i've only just learnt you worry yourself and taken your last wrong turn. you're out caught up to us we all knew it would i tell you i'm sorry i could so i write

it's an it cannot taper a ponzi scheme janet yellen as bernie made off in a skirt you cannot reduce the level of phony money in the system by even a dollar without crashing j.p. morgan crashing wall street crashing the property market crashing planet earth economy and also keep in mind that janet yellen and marriott draggy and kuroda and mark carney in the u.k. i forgot about weren't together her and the global central bank balance sheet is skyrocketing in debt we now have three and a half time gold bull g.d.p. in debt thanks to debt monetization by central bank oh well stay right there. most people think to stand out in this is this you need to be the first one on top of the story or the person with the loudest voice of the biggest read in truth to stand the news business you just need as the right questions and demand the right answer. question. anyone and you go there resist the american design is a federalist you may be a terrorist it can be. a model that has been happening with. the thought of buying and knowledge. how does it feel to be a share of the greatest job in the world it'

we know cryptocurrencies are inching closer to the main though there are those who think they are ponzies. rish, haidi, over the next several months expect a lot of discussion over virtual currency, on liquidity, its acceptability. a lot of issues to be ironed out still. haidi: a lot of issues in an asset that is growing so quickly. beyond cryptocurrencies, it was such a wide-ranging interview you had. he spoke about the need for the country to be on guard for an inflation pick up. is there a risk of hyperinflation in singapore? haslinda: right now, not really. inflation is well below historical average, but inflation will crop up at some time if singapore's economy continues to gain momentum. singapore has to be vigilant. it has to be in his words, proactive in keeping inflation under control, which he says has been done over the last 40 years. you can see singapore has eased its policy three times between january 2015 and april last year. since then, it has kept a neutral policy stands, precisely because inflation has been pretty muted. now there is a rising expectation of a tightenin

and with the privatization of social security and called it a ponzi scheme. but framing that it was fundamentally fraudulent and fundamentally wrong. in the view of the libertarians. under his tutelage that meant political suicide. they want to continue as it was. there is no widespread support with any membership group prefer the old door the young. the female or the of mail or the rich or the poor. then year universal popularity because about opposition. buchanan taught something that was more sequential and devious and deceptive approach with this new crop walk. doesn't seek to undermine that existing structure first they must enter those beneficiaries under the viability to make abandonment look more attractive. there is a whole industry of nonprofits funded that have been doing this. sows death one -- so step one makes it seem undeniable then part to is a divide and conquer. the first group and those close to retirement that these benefits would not be cut. and then that vintage public choice and with any change in the system these are the people that fi

>> my friend says the entire chinese economy is a ponzi scheme because a trillion dollars in interest than the growth of gdp between june 2016 in june 2017, which means banks are capitalizing interest. the corporate's campaign it. the banks say we will just add it to your debt load. they are hiding all this stuff because that is the way the system is working. at some point they will have to deal with this. haidi: at what point, right? after the congress, this greater theme of centralization, does that give you more comfort or assurance that in the short-term and medium-term it will be more kicking the can down the road? >> yes. the centralization is a political centralization. it does not affect the underlying mechanics of the fiscal system in china, which is local governments don't have enough revenue and a lot of people are making excessive blending into the property sector. centralization will enable him to shut some state-owned enterprises, manage the pboc risks because will have power to do that, but it is a system built on an unstable structure. haidi: right, so it is just a mat

they labeled the existing system a social security a ponzi scheme, a word that might be fo familiar now, it implied that the program was fundamentally fraudulent, indeed, totally and fundamentally wrong. it was fundamentally wrong in the view of the libertarians, but they learned that opposing it candidly like they used to meant political suicide because the majority of voters wanted the system to continue as it was. the professor warned, there is no widespread support for basic structural reform among any membership group, among the old or the young, the black, the brown or the white, the female or the male, the rich or the poor, frost belt or the sunbelt, the near universal meant that any attempt to fight it on philosophical programs openly about opposition was doomed. they therefore devised and taught a more sequential and devious and deceptive approach , but one that served this newly crab walking crowd well. those who seek to undermine the structure, he advised, must do two things. first they must alter beneficiaries understanding of social security's liability because that quote w

into it, yet you describe the nhs is ponzi scheme for young people?der44 meeting about how only 25% of people under 44 would consider voting conservative. i want to be known as an honest politician with good intent, who is also a conservative, andl intent, who is also a conservative, and i think it is important people like me bring the professional experience of being a doctor, who has the best interests of his patients at heart, into the political arena, because i think it is long overdue. would you accept there has been a distinct lack of big ideas? little micro—policies but no big ideas for people to grasp and be energised by? elin, actually i think the party has started to think about those big issues that we are facing, such as extremism, such as ageing, such as britain's position in the world. i have been at meetings where these things have been discussed and party co nfe re nce things have been discussed and party conference is a forum at which they should be discussed. the conservative party is a serious party, looking to the future so, the co

bitcoin is one of the very few instances when block chain was used, they were basically ponzi schemes, so it's very important if we go forward with it, we're sure that it's not going to be used to exploit. now, right now a very different approach to facilitating the transfer of capital in developing countries is ollal alibaba's approach it takes three seconds, three seconds to transfer as much as $160,000 to anyone who's part of the alibaba network because they can assess credit worthiness in three seconds. the argument is of course that online activity is a far better indicator of credit worthiness than the traditional kyc practices. >> you're not a buyer at 5,200 christine leguard said it's too expensive. >> it's very expensive. >> also some skepticism, guys, there on its legitimacy and a plug for alibaba as sort of a cashless payment solution, when he says is working in china. this is all something we can talk to tomorrow we've got an interview with stan fisher, the vice chairman of the federal reserve. this is his final interview as vice chairman. this is his final weekend as vice

i have said on facebook live i don't think it's a ponzi scheme because that end complies -- that implieseems good intentions. >> people are using it for good intentions and malevolent intentions. you can call it air miles because there's are lots of things that can be used to acquire goods and services in the same that air miles can. it has the added dimension of being more globally accepted by a retail community in a wider range of countries and that's why it's so popular. a central bank ever adopted this and is that the kind of validation bitcoin needs? >> there's always the value of printing your own currency. the main way by which a currency gains legitimacy is through legal force. everyone tompels accept that currency as a unit of exchange or a means of settling debt and i can't see a country signing on to that. francine: what about a region? i don't know if there's a big difference between the u.s. versus europe versus asia because of cultural sensibilities. >> this really transcends national borders. i don't think you have a country or region of any size signing on to this. tom: h

. >>> all right, well, hoop pinnell ponzi friday, we have made it to friday.ve clark likes to say, as a matter of fact, and some of the other headlines, and now here is mr. dave clark. >> reporter: here are some of the top store roys we are following for you, law enforcement in the las vegas shooting attack still trying to find a motive behind the shooting. now another country is offering help in the investigation. the country of australia says they are helping the u.s. investigate marilou danley, the girlfriend of the gunman. she lived in australia for years, after marying an australian man who later died. and now american investigators think that stephen paddock may have scouted out other cities and plotted more attacks. he booked chicago hotel rooms and there are indication it is a he looked at the area surrounding boston's fenway wacker. and here at--park. and here home, a woman died after falling off of a cliff just after 5:00 p.m. sky fox flew over that area, showing you the emergency workers at the bottom of the very steep cliff. so far we don't know th

on the basis of the analysis that it was at least strongly dominated by, you know, speculation and ponzi-likeich is certainly showing that they are paying attention. you know, when you look at a country like kenya, for instance, where transfers, where tax is being paid totally digitally, when you look at the way in which, you know, some civil servants are paid also totally electronically and without leakages in the system, as is the case in some of the developing countries when i look at my own country, where, you know, all transactions between my com patriots and the treasury department is all on now digital support, i think there are massive changes taking place at the momentwhich everybody need to be attentive to >> would you ever buy any for yourself >> no, i didn't, and it's too expensive for me at the moment >> christine lagarde headline, bitcoin is too expensive at the moment, but seriously, her comments about the new digital economy and payment system and phrasing that off of the question about whether central banks and governments should embrace bitcoin, to me, is a very powerful sta

rossello: government was run, essentially, as a big ponzi scheme.sounds like at least mismanagement, and perhaps even corruption. gov. rossello: certainly a total lack of accountability in puerto rico, managerial foresight, and certainly corruption. scott: in paris, france in 2015, there were two seemingly

senator cruz, i think you were quoted as saying social security is a ponzi scheme. >> i've never saidou were quoted as that. if you tell me it's false, okay. i want to expand social security. you'll tell us in a moment what your view on social security is. i want to make medicare available, jasmine, what it would mean for your family if you didn't have to worry about health insurance. that you and your kids had health insurance as a right and to understand that despite what senator cruz is saying, we spend in this nation twice as much, $10,000 per person on health care as canada and any other industrialized country. and the reason for that is we have a healthcare system not designed to provide quality cost effective health care. it's to make the drug companies have billions and billions of dollars in profits as well as the insurance companies. so when we talk about our national priority -- it is not just taxes. it is what taxes do for the american people. if you cut taxes for the rich and up don't have the money to do the right things, then you're left to the situation which senator c