Hi Mike, thank you for responding.

FIRST: I never meant "literal" ponzi scheme. I know what an "actual" ponzi scheme is. I was using the term figuratively. Here's why:

When you say "BofA took excess risk and had a weaker balance sheet" I know exactly what you mean. The general public does not. Framing in terms of "ponzi" as a generic descriptor of fraud where people are paying far more for an "investment" that it is actually work is well described as a pyramid or ponzi scheme.

Having said that, I also remind mysefl that I'm on a crusaide against "false news" and "fake memes". Thus I should scold myself for not SPECIFYING that I was using the word ponzi in a figurative way.

Thank you again.

Andy

Color-Obsessed Researcher, Investigative Journalist & Columnist, Hollywood Actor, Filmmaker, & 3x Emmy® Winner, and Itinerant Technology Evangelist

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