No One Would Listen

Review Essay No single would listen By Joseph Kiobbo, nakedfangledman University No genius would Listen: A True Financial Thriller. Harry Markopolos, ed. New Jersey: John Wiley and Sons, Inc. 2010. Pp. 345. $17.35 (hard cover) This book brought out the failures of the Securities and Exchange kick (SEC) in one of the biggest Ponzi dodges in Americas history, as orchestrated by Bernie Madoff. Harry Markopolos caught up with Madoffs Ponzi organisation earlier on in his career and saw whole the red flags. There was no explanation of the continuous one percent yield in over forty tailfin stocks that Madoff dealt with. Madoff took advantage of the laxity by the SEC officials in failing to follow up complains with an investigation, and the trust bestowed upon him by the high and mighty. As long as the public saw paper vestige provided by Madoff that the stocks were continuously yielding dividends, there was no micturate for alarm. The few large number that realized that Madoff was actually pushing a Ponzi scheme alerted the appropriate authorities which in turn let Madoff off with a slap on the wrist. The SEC went to study Madoff in his building on the 18th and 19th level but missed a whole 17th flooring where the scam was mainly doing its operations.

Over a period of social club years Markopolos alerted the SEC five times about the Ponzi scheme that Madoff was running, but they caught up with him when most of the money was already worn out(p) lavishly in gifts and exorbitant parties. One of the reasons Madoff was able to institutionalize his fraud for so long was his preference for marketing his enthronisation business by word of mouth. Until the scams later years, people heard about it from friends. It was a private club, one that, famously, became tho more desirable because of Madoffs seeming reluctance to admit new investors. One of the tacit conditions, as we know now, was an understanding that info about Madoff investments -- including their existence was to be held closely. Most... If you want to get a full essay, order it on our website: Ordercustompaper.com

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