Charles Ponzi's scheme (plus a new scam)

NPR· Oct 7, 2026· 25m 30s

Charles Ponzi was down on his luck. In 1919, the Italian immigrant had spent a decade and a half in the U.S. He was looking for a way to get rich and tried his hand at everything — including bookkeeping, sign painting, grocery clerk, dishwasher, and librarian. He caught a lucky break in August, when he received a letter from Europe. In the envelope was an International Reply Coupon, a clever way to prepay for international postage. Ponzi realized he might be able to use these coupons to make his

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Welcome to the program. I'm your host.
Welcome to the program. I'm your host.
0:00
Today we look at the major stories shaping the news cycle.
Today we look at the major stories shaping the news cycle.
0:04
We start in Europe, where leaders met in Brussels.
We start in Europe, where leaders met in Brussels.
0:09
The summit focused on energy policy and migration.
The summit focused on energy policy and migration.
0:14
Reporting from the ground, our correspondent has more.
Reporting from the ground, our correspondent has more.
0:19
Thank you. The mood here was tense but constructive.
Thank you. The mood here was tense but constructive.
0:24