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Chapter 11. Get Rich Quick >  Endnotes - Pg. 101

Get Rich Quick 101 ultimately, they are in this mess because of greed. This greed is combined with the realization that there may not be any other way for them to achieve their dreams. These schemes frequently ruin more than just the finances of the victims. The schemes build quickly because people are recruited by friends, neighbors, relatives, colleagues, and others in a position to gain their trust. When the pyramid falls, the victims frequently blame the person who recruited them. Thus, relationships are also destroyed. Endnotes 1 . 2 . 3 . 4 . 5 . 6 . 7 . 8 . 9 Peter Bernstein, 1996, Against the Gods: The Remarkable Story of Risk, New York: John Wiley & Sons. This assertion is made in Meir Statman, 2001, "Lottery Traders," Financial Analysts Journal (in press). Charles Clotfelter and Philip Cook, 1989, Selling Hope: State Lotteries in America, Cambridge: Harvard University Press. "Ponzi, by Any Other Name," 1993, The Economist, September 18, p. 87. The information about the Albanian pyramids comes from Chris Jarvis, 2000, "The Rise and Fall of the Pyramid Schemes in Albania," "International Monetary Fund Staff Paper", 47(1), pp. 1­29. "Ponzi, by Any Other Name"; see note 4. "Romania: Black Sea Bubble," 1993, The Economist, December 18, p. 47. Peter Humphrey, 1994, "Pyramid Investment Schemes Are Collapsing Across Romania--Owners in Jail or Hiding From Furious Depositors," Seattle Times, January 26, p. A8. Adi Ingatius, 1994, "As Pyramid Scheme in Russia Begins to Collapse, Rubble May Trap Many," The Wall Street Journal, July