A:

No, a Ponzi scheme cannot be made legal because the structure itself is a form of fraud. By definition, it involves paying early investors with money raised from new investors rather than from legitimate profits or actual business operations. Because this requires inherent deception, it violates securities and consumer protection laws.

It will NEVER be fixed. My brain did a "Ctrl Alt Del" when I read your last line - Even though its a Ponzi scheme it works and can be made solvent.

I take the tack that SS is a Ponzi scheme that I am a fortunate accidental benefactor of, and I am inadvertently screwing current workers who will never see a similar return on their labor.