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Stuff You Should Know

SYSK Selects: How Ponzi Schemes Work

Stuff You Should Know

iHeartPodcasts

Society & Culture

4.679.3K Ratings

🗓️ 30 June 2018

⏱️ 31 minutes

🧾️ Download transcript

Summary

Ponzi schemes. How do they work? And who's Ponzi? Join Josh and Chuck in this classic episode to discover how an Italian immigrant created a classic con that's still fleecing investors today.

Transcript

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0:00.0

There's so much news happening around the world that we're somehow supposed to stay on top of.

0:05.7

That's why we launched The Big Take.

0:08.3

It's a daily podcast from Bloomberg and I Heart Radio that turns down the volume a bit

0:14.0

to give you some space to think.

0:16.4

I'm Wes Kosova.

0:17.7

Each weekday I dig into one important story and talk about why it matters.

0:23.6

Listen to The Big Take on The I Heart Radio App, Apple Podcasts or wherever you listen.

0:31.0

Howdy everybody!

0:32.6

This is Chuck here on the Ranch at How Stuff Work Studios and welcome to Saturday Selex.

0:39.8

April 9th 2009 we're going way back into the archive for this one.

0:44.6

How Apancy Schemes will work.

0:47.2

And honestly I picked this one because I believe, I believe this is the very first instance

0:53.4

of me doing my bad Italian accent.

0:56.0

I think it started with this episode if I'm not mistaken and it has since become such

1:00.3

a part of the show and I thought I might as well repost this select episode from where

1:06.7

it all began and not only that but it's really interesting.

1:10.4

It's really interesting.

1:11.7

I'm falling into it right now.

1:13.2

Apancy Schemes, very, very interesting topic and we get into it here.

1:20.1

I mean let you know how to be aware of them and the history behind it.

1:23.4

There was a real Ponzi, you know that?

1:25.1

Alright, learn all about it right now everyone.

...

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