The Greedy Get Got

Pyramid SchemeMy late father a reformed con man, hustler, and street smart type, always said, “the greedy get got.”  He was referring to victims of con games or schemes.  I didn’t agree with him for all instances, such as the elderly or children being hustled or conned.  He agreed to a point that what fooled them was their naïve beliefs.

I asked my dad, “what he considered being greedy?”  He gave the following example.  Anyone who is not trying to pay the actual value for a service or a product is greedy in some way.  I still hesitate to use the term or describe these individuals as greedy.  My take on it is more they are trying to save a dollar; true some may be cheap but I think everybody wants to get a good deal.

Whether you look at things how my dad did or how I look at them, cons happen every day.  Most often they occur because of an attempt to cut cost.  Still many cons are done on people such as the elderly.  There are financial cons and cons that involve some form of service.

One of the best things to remember is a con usually occurs by someone trying sell to you.  This is evident in email-based cons, especially during tax season.  Businesses that offer to double your tax return or to provide fast returns should be looked at skeptically.  The doubling of the return and the fast return usually result in you having a loan repayment.  Very seldom do businesses pass out free money without any expected return.

Ponzi scheme is still is the biggest con that exists today.  By definition a Ponzi scheme is “a swindle in which a quick return, made up of money from new investors on an initial investment lures the victim into much bigger risks.” Ponzi is also known a pyramid scheme because it is based on recruiting and not direct sales or profits.  These schemes are one of the oldest con games.

When approached with a business opportunity, remember that something for nothing should be a red flag.  Pay attention to the person or organization trying to sell you an idea or business.  If someone approaches you in the form of a door-to-door sales method, use logical thought to determine if they are legitimate.  There are many legitimate businesses; this advice is not to bring fear but caution.

Finally, we all want to save a dollar or make a profit but be wise in your research.  Look within to make sure you are doing do diligence in researching a business before buying into a product or organization.  Ponzi schemes will exist until the end of time.  My dad’s energy is always with me; and I still hear his voice saying, “the greedy get got.”

Let me know have you been approached with a million dollar, to good to be real idea?


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