To recap, this post (By necessity, Ponzi) is dated 12/15/2008. We even proposed that Made-off be used rather than the name of that guy from the olden times.
Remember those times, a couple of years ago? Even after the new day, things appeared to be dire. They still are, for most folks, despite the shining chimera.
We'll have to re-look at this since our monetary basis is a 'gab standard' that is weak. How can we make it real? Not an easy subject, folks. The motivation? Look at Minsky's (7oops7, Truth Engineering, FEDaerated) take on the matter.
As further refreshing of memory, here is 'Made-off' in the three blogs.
Bernie exploited our unstable computational ontology, meaning, of course, more than just the platforms, technology, and mathematics. He was able to 'pull the wool' for a very long time. And, he did this on very smart people.
Much to learn there.
04/12/2011 -- Now, we hear that Harvard wants Bernie to teach ethics to the best and brightest! It is obvious that he ought to be a case study and a specimen of what not to do. That is, analyze him to the core. His motivations would be included. The biggest lesson? How we have dumbed down ourselves in order to make the system, and its artifacts (see comments on hive mentality), work.
04/01/2011 -- The last man wants the old days back.