Ponzi Scheme

Being aware of the legal implications of this post I will not go into details - so you will not be tempted to do, as my father figured out how to, scam credit card companies.

Father held a doctorate in mathematics which he received at 16 years of age.  Yes, he was brilliant - his IQ was documented as 195.  I only know this as the government kept really close tabs on us children, with much testing annually.  I know my IQ is only 10 points lower than his, and much higher than my sister's.  However, it was very frustrating because throughout my entire life I never could understand math.  A solid 'F' student in that most horrible of subjects.  It was not until only a few years ago I finally learned my bent was in art, not math.  Sigh.....

With father dead, someone had to go through his financial records.  My sister, whom was an accountant, could not deal with it so it fell to me.  I was stunned by the disaster I found.  Father was brilliant in math - how could he ever have created the disaster I found?

Bank accounts commonly opened and closed, dozens of credit cards and his expenses far out ran his income.  What on earth?!?!?!?!?

It took me three full weeks to understand father had created a credit card ponzi scheme.  (NO I will not tell you how he did it!)  The scheme had 16 layers to it and near as I could tell, he knew exactly what he was doing - it would take another decade before the scheme fell apart and I think he was planning on being dead by then anyway.  It completely blew me away!  Not only the fact that I could understand what he had done, but that someone could have conceived of the idea in the first place - it was brilliant!  I guess my naive honest genes came from my mother's side!

Needless to say, his entire estate was taken to resolve only a small portion of the debt he held.  As far as I know, the ponzi scheme is still running and everyone is happy.  Go figure!

However, I came home and called all of my children, pseudo-children and those I love together and told them I would personally pay for them to attend Dave Ramsey's Financial Peace University - so that none of them would ever do as father had done.  Surprisingly, only two of my children, one pseudo-child and one dear friend took me up on my offer.

I attended as well and finally understood how money works - of course it was too late by then for me, I was laid off when I returned home from father's funeral.  Nothing like having your job sent to India, while you join the unemployment line.  Especially, since I finally understood how to correct my finances and in 13 months could have cleared up a lifetime of mismanagement...