It’s interesting to watch “American Greed” on the Communism Channel (CNBC). The people who run a Ponzi scam invariably have the parasitic/psychopathic personality type. It’s interesting to see the ways they psychologically manipulate people. I recently watch the episode on Robert McLean. There were lots of interesting fnords in that episode. (Not every episode of American Greed is honest. The episode on Sholom Rubashkin seemed like a hatchet job, specifically to address the fact that some people are concerned about the way he was treated and his excessive sentence.)
For example, Robert McLean made high-profile big gifts to charities. This wasn’t charity. It was good business. If he made a $1M donation, the publicity helped him trick people into investing another $5M-$10M into his Ponzi scam. Evil people use charities for morality laundering. “I give money to charity. Therefore, I’m a good person.” If you steal money and give it to charity, that isn’t real charity. For example, the State uses tax money and gives it to charities. For another example, Goldman Sachs and other banksters brag about the money they give to charities.
There was one obvious lie. They said “Robert McLean gave lots of money to college aged men. We have no idea why he did that.” Duh! He probably was a homosexual, and they were his prostitutes. It seemed odd that Robert McLean had no wife and no children. I’m 99% convinced that he was paying off his gay lovers, with Ponzi scam money. That detail was omitted, because the mainstream media has an agenda for promoting homosexuality. Similarly, when Levi Aron murdered Leiby Kletzky, the mainstream media didn’t mention “He probably sexually molested the boy before murdering him.”, because that contradicts the goal of promoting homosexuality.
There was another amusing bit. They interviewed a law school professor who was an expert on Ponzi scams. She suspected Robert McLean, before the scandal broke. My reaction was “What a stupid professor! Why didn’t she file a Harry Markopolis letter with the SEC? Why didn’t she write a paper or blog post outlining her suspicions? She could have saved people money, by helping Robert McLean get caught sooner.” It’s useless to be an “expert on Ponzi scams”, if you don’t publicly raise a warning when you’re suspicious. (She might have been worried about getting sued for libel if she was wrong. However, Robert McLean could not have sued her, because the discovery for the lawsuit would have exposed his scam. However, he could have used his influence to make life difficult for her, in the same way that Bernard Madoff used his influence to get SEC bosses to call off SEC investigators who suspected him. It is risky to publicly question a high-ranking State leader.)
When Robert McLean got caught, he suffered from depression. He probably had sincerely deluded himself “I’m a brilliant businessman! I’m doing what every other successful CEO does!” When the scam collapsed, he couldn’t maintain that lie anymore, and suffered from depression. I suspect that depression happens when a parasitic/psychopathic person realizes that they actually are evil.
Robert McLean committed suicide. They interviewed people saying “A person’s life is more valuable than the money he stole.” I was offended by that. Why not interview someone who says “He’s an evil person who deserved to die!”? The fnord is “Always make excuses for psychopaths. They aren’t evil. They’re merely deluded. They need to be educated.” That is false. Some people are evil, and they’re doing it on purpose. It is wrong to make excuses when a psychopath commits a crime.
Another interesting point is “Why didn’t the other community leaders notice that Robert McLean was criminally insane?” I’m getting very good at noticing, when someone is a parasite or psychopath. Unfortunately, most of our society’s leaders are criminally insane. Most of them don’t cross the line of running a Ponzi scam, which is explicitly flagrantly evil. The other leaders were thinking “Robert McLean has the same personality type as me! He’s obviously a swell guy!” Some of his victims were intelligent. However, they were all people who were easily manipulated. Even the law professor who suspected him, didn’t act on her suspicion. His best friend and biggest investor didn’t suspect him, until he got explicit evidence of a forged statement.
The Federal Reserve promotes Ponzi scams. The Federal Reserve keeps interest rates negative and distorts the credit market. People can’t leave their money in a checking account or Treasury bonds, because they would get robbed by inflation. Negative interest rates force people to invest to preserve their purchasing power, and some of them get tricked into Ponzi scams.
Some of Robert McLean’s investors thought they were being clever. They were borrowing from a bank at 6%, and investing with Robert McLean at 10%-20%. Robert McLean’s best friend was his biggest investor. McLean’s friend was borrowing from a bank to invest with McLean, and the bank probably called his loan when they suspected McLean’s Ponzi scam. The victims thought they were clever, borrowing at 6% and investing in the Ponzi scam at 10%-20%. However, the victims lost their Ponzi investment, but still had personal liability for the bank loans! Even worse, the “clawback” rule meant that some of those people had to give back more money, even after they were ruined by the Ponzi scam collapse! (The “clawback rule” says that “After a Ponzi scam collapses, people who recently withdrew money have to give it back, even if they didn’t know it was a Ponzi scam.” For example, suppose you invested $10M with Robert McLean and withdrew $5M. You are a net loser of $5M. However, other investors may have invested $10M but withdrew nothing. The $5M you withdrew is subject to clawback and returned to the other investors, even though you were a net loser.)
Also, the mainstream media lies and says “A clever non-insider can profit via the financial markets.” This makes it easy for Ponzi scam victims to be tricked. By promoting economic illiteracy, the State makes easy Ponzi Scam victims.
There were a lot of interesting fnords in the American Greed episode on Robert McLean. It’s interesting to notice the ways an evil person emotionally manipulates people. Evil people use charities for “morality laundering”. I was surprised that they were covering up “Robert McLean gave money to random college men because they were his gay prostitutes.” The “clever law professor” was useless, because she didn’t warn the SEC and didn’t publish her concerns. The Federal Reserve price-fixing cartel encourages Ponzi scams. Stupid people borrow from banks and invest in the Ponzi scam. People are forced to invest, because you get robbed by inflation in a checking account. The State promotes economic illiteracy, making people easy Ponzi scam victims. The State brainwashes people to be victims, so that evil people can emotionally manipulate them. None of the other “community leaders” suspected Robert McLean, because most of them also have the parasitic/psychopathic personality type. I also was very offended that Robert McLean’s victims were making excuses for him, even after the Ponzi scam was exposed, rather than saying “He’s an evil person who deserved to die!”