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Another Ponzi Scheme, REALLY?

“There is some good in this world, and it’s worth fighting for.” – J.R.R. Tolkien, The Two Towers

“There is a sucker born every minute.” – P.T. Barnum

Today is a double whammy of famous quotes. How cool is that?

I have been rereading the Lord of the Rings trilogy and came across this quote the other day. Coincidentally, on the same day, I was also talking with a client who was telling me about a Ponzi scheme that had been uncovered in his local area. Of course the fall out is the usual train wreck. In light of these kinds of shenanigans the 2008 period seems pretty tame. I digress.

So I got to thinking, how is it that anyone can still run a Ponzi scheme when the likes of Bernie Madoff and his ilk get such attention from the media when they are uncovered? I suppose it is greed or, as P.T. Barnum said, “there’s a sucker born every minute.” It is truly astounding that people will be so blinded by greed that they will do themselves material harm to the point that their ability to look after themselves in the long-term may be compromised.

Here is the point. In a world where greed, treachery and dishonesty lurk around every corner like an Orc looking for a Hobbit, it seems that all is lost. However, everyday I talk to, and work with, advisors who leave me knowing that there is good in the world. Here is a hat tip to each of you! You are a light of good in the world and your reputation, and the value you bring to your clients is worth fighting for. There are people out there who desperately need you.

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