Originally Posted by
exekcabincrew
I really don't like to read comments such as "Those greedy idiots who invested in this ponzi deserve to lose their money!"
First, most people are financially illiterate, not by their foul. In school we are taught when some battle between King A and King B took place instead of learning stuff actually relevant to life, like investments and finance for ex.
So when people see their friends making money at lightning speeds, they also want in. It's normal behavior. These investors should be seen as victims, not as "someone who deserves it"
This is a pilots forum, I guess most pilots come from backgrounds when they have the chance to get to know the world of investments, so they are more protected from these schemes. I think its reasonable to assume that pilots get more exposure to finance than CC. Many CC never had exposure to investing, so they are way more likely to fall for these claims. On top of that add the environment of Dubai, all the exuberance around you, everyone is rich except you kind of thing, so there is even more temptation to make money fast, no matter how.
Please think about this before saying that someone deserved whatever.
Finance is complex and mysterious for most people, so only harsh enforcement can stop this sort of schemes from happening. Because as many have said, people never learn. They never will, it's in our nature to wish more than we have. But victims of ponzis are not to blame. The lack of enforcement and regulation is.
Sorry, but I don't agree.
If finance is 'complex and mysterious' to the majority of cc as you put it, then they really should have known better than to have gone head first into a scheme which was attracting just as much negative publicity (from wise heads) as positive publicity - from those with vested interests.
Also, your excuse of naivety does not work with the vast majority of cc I spoke with at the time. When I pointed out to them that they were investing in an illegal Ponzi scheme and taking money from new investors, the typical response was 'Well, as long as it works for me I really don't care!'
So, no sympathy.