The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.
Monday, June 6, 2016
Generation Madoff Doesn't See It Coming
"The newspaper reported Sunday that the founder of Point72 Asset Management tore down his mansion in the Hamptons "several weeks ago" so he could build a new one. Cohen had paid $62.5 million for the 10,000-square-foot home, the Post said."
Steven A. Cohen:
In July 2013, amid multiple charges against employees of S.A.C. Capital Advisors, the SEC brought civil charges against Cohen himself, accusing him of failing to prevent insider trading. In November 2013, S.A.C. Capital pleaded guilty to insider trading violations, agreed to stop managing funds for outsiders, and paid a $1.8 billion fine. In January 2016, Cohen reached a settlement with the SEC on the civil charge, in which he is barred from managing money for outside investors until 2018.
What emotion is driving Generation Madoff now?