@weirdbeardgame to News • 18 hours agoInsurance 'nightmare' unfolds for Florida homeowners after back-to-back hurricaneswww.nbcnews.comexternal-linkmessage-square36arrow-up1259arrow-down12
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minus-square@[email protected]linkfedilink19•15 hours agoBecause a Ponzi scheme revolves around paying past people with fresh money without using it as promised at all. Insurances (when fraudulent) collect money but don’t pay out anyone unless forced by lawsuits. Ponzi schemes are s vers specific financial tactic. See https://en.m.wikipedia.org/wiki/Ponzi_scheme
minus-square@[email protected]linkfedilink-4•15 hours agoI guess I see enough parallels to call it “close enough”, but I guess that’s a matter of perspective.
minus-square@[email protected]linkfedilinkEnglish4•13 hours agomeanwhile the people taking your money and giving you nothing in return are laughing at the fact that people are spending time debating “what kind of scam” it is
Because a Ponzi scheme revolves around paying past people with fresh money without using it as promised at all.
Insurances (when fraudulent) collect money but don’t pay out anyone unless forced by lawsuits. Ponzi schemes are s vers specific financial tactic.
See https://en.m.wikipedia.org/wiki/Ponzi_scheme
I guess I see enough parallels to call it “close enough”, but I guess that’s a matter of perspective.
meanwhile the people taking your money and giving you nothing in return are laughing at the fact that people are spending time debating “what kind of scam” it is