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{
    "id": 14599,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/14599/?format=api",
    "text_counter": 573,
    "type": "speech",
    "speaker_name": "Mr. Namwamba",
    "speaker_title": "",
    "speaker": {
        "id": 108,
        "legal_name": "Ababu Tawfiq Pius Namwamba",
        "slug": "ababu-namwamba"
    },
    "content": "Madam Temporary Deputy Speaker, hon. Members have spoken at length about the so-called Ponzi schemes or what Kenyans know as pyramid schemes. Americans know them better as Ponzi schemes. Of course, we know that the manner in which those schemes--- Perhaps, this is something that those who run, drive and manage our economic affairs in this country have not done, to really determine the economic costs and even the social effect of that moment when we went to sleep and allowed some space to crooks. “Crooks” is not parliamentary language but I am struggling to find the right English word to describe the people who crafted those schemes and sent so many Kenyans to penury. Many Kenyans lost their minds. Some actually lost their lives. It has been documented. There are Kenyans who, having lost their savings because of those pyramid schemes, just lost their heads and some committed suicide. It was a horrifying spectacle. It was because of laxity in the regulation of how capital moves and is handled in this country."
}