July 14, 2009

Pt 1: Ponzi - No one is answering the phone this morning at Earl Jones Consultant and Administration Corporation. The firm, located on Montreal's West Island, has been vacant for more than a week. Jones' investors have been unable to track him down. And they're not sure where the money they gave him went either.

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Pt 2: Moon Landing 40th Anniversary- We started this segment with some sound with how the earth's first manned adventure to another celestial body began, 40 years ago this week. The war in Vietnam was raging.

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Today's summer guest host was Sheila Coles.

It's Tuesday, July 14th.

The CIA has cancelled operations designed to capture or kill individual members of Al Qaeda ... a program former U.S. Vice President Dick Cheney ordered be kept secret from Congress.

Currently, The U.S. military will now resume using unmanned drones to fire missiles at crowded Pakistani wedding parties in a bid to achieve the same goal.

This is The Current.

Ponzi - First Person

No one is answering the phone this morning at Earl Jones Consultant and Administration Corporation. The firm, located on Montreal's West Island, has been vacant for more than a week. Jones' investors have been unable to track him down. And they're not sure where the money they gave him went either.

Last week, Quebec's securities regulator froze his firm's assets after several investors complained that they had stopped receiving payments. Now police say Earl Jones may have stolen as much as 100-million-dollars in an alleged Ponzi scheme.

Peter Kent's mother had more than half-a-million dollars invested with Jones, a man she and her family had known for two decades. Peter Kent was in Montreal this morning.

In Canada, each province regulates its own financial activities. Sylvain Theberge is a spokesperson for Quebec's finance regulator, the AMF. And he says it would have been very difficult for the AMF to have seen this coming. We aired a short clip with his comments.

Ponzi - Biographer

Several members of David Newcomb's family also invested money with Earl Jones and may have lost it. And yet, Newcomb saw another side of the man. We aired a clip.

So far, authorities haven't charged Earl Jones with anything. But the words "Ponzi scheme" are being thrown around liberally. And it turns out, the original Ponzi scheme -- the one that coined the phrase -- took root in Montreal.

Mitchell Zuckoff knows that story well. He is a Professor of Journalism at Boston University and the author of Ponzi Scheme: The True Story of a Financial Legend. He was in Boston.

Moon Landing 40th Anniversary

We started this segment with some sound with how the earth's first manned adventure to another celestial body began, 40 years ago this week. The war in Vietnam was raging.

Across the United States the streets were full of protesters. And the Cold War was at its iciest. But for a few days in the summer of 1969, much of the globe was transfixed by the thought that humans were about to explore another world.

And the three astronauts who took part in that mission became international stars.
The Apollo 11 moon landing is the focus of Craig Nelson's new book. It's called Rocket Men: The Epic Story of the First Men on The Moon. And Craig Nelson was in Washington.

And there is one more piece of historical tape we still haven't played. It has become one of the most famous quotes in history. We ended the program with a clip of Neil Armstrong about to step on to another world.

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