Sit On It, Ponzi

Pon·zi scheme NOUN: An investment swindle in which high profits are promised from fictitious sources and early investors are paid off with funds raised from later ones. ETYMOLOGY: After Charles Ponzi (1882?-1949), an Italian-born speculator who organized such a scheme (1919-1920) _______________________________________________________ “Ponzi scheme” is a term we’ve heard a lot lately, having been given rebirth from the lips of Texas Governor Rick Perry during the Republican debates. Perry related the term to Social Security, indicating that those 70-year-old programs …

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