Something I’m surprised by is that we haven’t heard of any ponzi schemes blowing up in this crisis. (Blocking anyone who responds to this by saying the whole system is the Ponzi scheme).
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Replying to @TheStalwart
The crazy huge Ponzi schemes that had been going on for decades all blew up during the financial crisis. Now we have a bunch of smaller ones, but they haven't gotten big enough to warrant too much attention when they do blow up.
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Replying to @svrnco @TheStalwart
Also, the current crisis hasn't gone on for long enough for a Ponzi to unravel. You'll start hearing about them a month or two from now.
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Replying to @svrnco @TheStalwart
Yes, this. First, markets haven’t fallen enough for people really to be making redemptions en masse. If you had a good ponzi this may not have been enough to kill it. Drop another 20-30% and different story.
5:22 PM - 8 Apr 2020
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