The Biggest Ponzi Scheme Ever

No it is not about Madoff.

You might not heard of Greg Knox before, I heard about him today over Neal Boortz.
After a short google on him, here is Gregory Knox's Letter to Troy Clarke, President of GM .

After I read this, several things come to my mind. How can the CEO of the failed auto companies get so much compensation for such bad job? How did they manage to pay union works way above average salaries?

And then it all come to me, it is a huge Ponzi scheme in the scale way bigger than Madoff, and yet it is legal.

The failed auto companies probably live on the stack sales (or depend on stack prices) to pay the differences. Because it is all investor money (unlike their own money), it is OK to do such bad job as long as all are paid well. The biggest investors are most likely institutions, they got their money from individual investors, most likely our 401ks etc.

So everyone can happily and safely wasting the money, as long as the over all economy is good and people keep buying.

After I thought of this I almost lost total confidence of the stock market. But the market will rebound, after all the fakes are purged out.