How Many More Ponzi Schemes Are Out There? It's Time For Legislators To Clamp Down!
Tacit warning to the buyers that the sellers are not bound to volunteer negative information about the items they are selling. It is assumed that (unless the seller gives express warranty) the buyer takes all risk of any loss due to defects in the goods or property being bought. Latin for, let the buyer beware).
This is the principle that allows cigarette companies to continue to kill millions of people. This is the principle that allowed Bernie Madoff and Earl Jones to steal the hard earned life savings of 94 year old widows.
Let's face it, the only difference between Madoff/Jones and those other Ponzi schemers who continue to operate is that THEY WERE CAUGHT!
At some point, legislators and parliamentarians better wake up and ensure that they people who elected them, are protected from the criminals who hide behind 'Caveat Emptor'.