Bridge financing would be an ideal vehicle for Ponzi Schemes. If all goes well there would be plenty of churn, enough to disguise the Ponzi nature of the scheme. And well-run, most of it could even be “legit”.
Exactly.
Norman Hsu had a “legit” one just like that - combined with money laundering to politicos from “sugar daddy” somewhere overseas. If it were not for his past and criminal record compounded by minor mistakes he could have wound down the “pipeline” scheme at any time after it was no longer needed.
That’s why he didn’t have an “exit strategy” - none was necessary, it was not supposed to go on indefinitely, just long enough to transfer enough for favored campaigns.
You sir, in a nutshell, have described exactly what built the false derivatives economy on a global basis.
Think of all the implications of the term---this conman must be a student of Alfred North Whitehead.
"Bridge loan"-----that is one heckofa dead metaphor.
He took it several steps farther----pictures on Agape's website would have investors believe that they funded the San Francisco Bay Bridge, the Taipei 101 Tower, and the Tower of Babylon, and the Baghdad Railroad...........
Some people will believe anything.