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Trump Seeks Historic $3.6 Trillion In Spending Cuts, Including Selling Half The US Strategic Oil Reserve

Trump Seeks Historic $3.6 Trillion In Spending Cuts, Including Selling Half The US Strategic Oil Reserve

More details of President Donald Trump's first budget proposal were reported Monday by Bloomberg and Reuters. The leaks add to the picture of what we know about Trump’s budget, which also includes a flurry of leaks published by The Washington Post, the Associated Press and Bloomberg late Sunday, which fleshed out Trump’s plans to slash entitlement spending.

Ponzi Scheme: What The Chicago Teachers' Pension Would Be Called If It Were A Hedge Fund

Ponzi Scheme: What The Chicago Teachers' Pension Would Be Called If It Were A Hedge Fund

A long, long time ago, back in 2008 when most of today's hedge fund analysts were still stressing over what to wear to prom, a man named Bernard Madoff was arrested for bilking unsuspecting investors out of $65 billion.  Madoff ran what is traditionally referred to as a ponzi scheme in which new investments were solicited as a means to fund massive redemptions that otherwise would have resulted in a collapse of his fund long before the FBI finally caught up with his scheme. 

But, Madoff was eventually caught and in 2009 he was sentenced to 150 years in prison for his scheme. 

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