Hot Topics :
feature 3

Lew’s Testimony on Debt Mirrors SEC’s Definition of Ponzi Scheme

When Treasury Secretary Jacob Lew testified in the Senate Finance Committee on Thursday, urging Congress to enact a new law allowing the administration to increase the federal debt, his description of how the Treasury handles that debt mirrored the Securities and Exchange Commission’s definition of a Ponzi Scheme.

“A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors,” says the Securities and Exchange Commission.

[Read more]

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to Freedom and Excellence

Get your daily dose of news & info from Freedom and Excellence

Sign up to Freedom and Excellence for FREE and receive our daily emails.

Popular Topics

  • JUDGE THROWS OUT 50,000 ABSENTEE BALLOT REQUESTS IN LINN COUNTY
  • Anti-government activist Bundy arrested at Idaho Statehouse
  • John Kasich’s journey from conservative darling to Democratic convention speaker
  • California judges lift coronavirus eviction ban
  • Democrats seek Harris boost in Senate race