GOP Congressman Compares Democrat’s Spending To Ponzi Scheme
Thursday, July 9th, 2009Rep. Scott Garrett (R-N.J.) says the Democrats’ spending proposals are outlandish, and compares them to a Ponzi scheme. (0:34)
Posts Tagged ‘ponzi’
Robert Kuttner says that companies today are using the same tactics as companies in the 1920s
Wednesday, January 16th, 2008Robert Kuttner, author of The Squandering of America and co-founder of The American Prospect, says that companies today are using the same tactics as the pyramid schemes of the 1920s, including “lack of transparency, insider conflicts of interest, and too much speculating with borrowed money.” He cites Enron, Worldcom, and sub-prime lending as examples. He spoke at an event organized by the Campaign for America’s Future and the Progressive Caucus, and featuring Reps. Barney Frank (D-MA), Barbara Lee (D-CA), and Lynn Woolsey (D-CA). (0:57)