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Why pyramid schemes fail

Why pyramid schemes fail. It never ceases to amaze me how perfectly intelligent people can get caught up in scams. A friend of mine recently “invested” in “Women Helping Women,” a dinner-party system where women “gift” money to each other in a haze of rah-rah-women-empowerment. I’m crossing my fingers that she’ll get her money back and then resist the tempation to buy back in…

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atacand | 10 May 2006