http://www.google.com/search?q=full+...w=1366&bih=637
So for the unaware, the super short version of the story goes like this: Last April the US Gov shut down the 3 largest online poker sites and seized all of their assets. Players that had money in accounts with the sites were not able to access their money. It's now half a year later and still no one has been able to access their accounts. Now the government is saying Full Tilt is a ponzi scheme because they only had about 60Million in cash but have about 400Million in account liabilities.
So my question is, do they also consider our banking system a ponzi scheme? Or are they OK because they purchase drastically insolvent government insurance for their ponzi scheme?
IMO, without the government shutting down full tilt there was no reason to think there would be a full tilt "Bank Run", and I think they could have kept operating with those margins fine indefinitely.
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