I just finished reading this book about Bernard Madoff. There is something about a good business book that really gets me hooked. In this volume, Erin Arvelund looks behind the headlines to give the reader an inside view into how someone like Bernie Madoff could enchant and mesmerize the smartest people on Earth for decades, and end-up committing the biggest fraud in world history. I guess that greed really is an opiate that can blur the judgment of the brightest and best in the world’s financial community. This man has singlehandedly wiped-out 15% of the world’s hedge funds, he has decimated most of America’s Jewish charities, as well as many of their patrons, people from well-known actors to senators to ordinary prison guards have been totally wiped-out by a cruel and calculating villain, who has lived a life of luxury on the back of hard-working and frugal people around the world. How he managed to perpetrate this scam under the very noses of the SEC regulators who people trusted with policing the financial word, is just beyond me. How he managed to get whole Hedge funds to invest 100% of their assets in his ponzi scheme without any of them carrying-out any due dilligence at all begars belief.
All in all the book is a good read from anyone wanting to read-up on a fascinating dark chapter in capitalism’s history. It would be an epic story, were it not sadly, and sickeningly, a true one.