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It's a pretty quick read. When the economy began to fall into disrepair in , I was shocked to hear of Bernie Madoff's ponzi scheme. The depth of his depravity was like watching a car crash. I read every piece in the New Yorker, Economist, and every piece in the Vanity Fair series written about him, his family, his employees, and investors. Over the course of the last 3 years, I watched several documentaries about him. So, when I found this book at Borders during its liquidation phase, I immediately grabbed it and put When the economy began to fall into disrepair in , I was shocked to hear of Bernie Madoff's ponzi scheme.
So, when I found this book at Borders during its liquidation phase, I immediately grabbed it and put it with my books to buy. I didn't read it for almost a year, and I lent it to my father when he requested a book to read. He loved it instantly and started reading passages out loud to me.
“Andrew Kirtzman's Betrayal offers the biggest payoff of the three [Madoff] books. It's a perfect meld of business details and personalities He has perfect pitch. Emmy award-winning journalist Andrew Kirtzman, explores “The Life and Lies of Bernie Madoff” in Betrayal—an in-depth, personal look at the architect of the.
He read it in record time and returned it with an exhortation to me: I began reading it that evening. I was thoroughly pleased with Andrew Kirtzman's book from page 1. The depth of his research is astounding, and it truly is a blow by blow of Madoff's life and schemes beginning with his childhood, which provides some level of understanding to his motivations for his criminal enterprise.
I began my career in fundraising, and I spent a portion of it working with major donors. The largest donations and endowments to this university were made by Jewish individuals and families. Our donors wintered in Palm Beach, commuted to New York City, and spent summers in many of Madoff's other overseas destinations.
Because of Madoff's strategy of recruiting Jewish individuals and families, I cannot help but wonder how many of the major donors I worked with lost a portion of their wealth to Madoff. Nov 02, Geoff G. Robbins merda constat variat altitudo rated it it was amazing. A Ponzi scheme is one where no investments are made.
The scheme is maintained by ensuring new people pay into it. This money is then distributed to the members of the scheme that were already investing. The Ponzi operator skims off his percentage as the money flows. When the investors stop, the fund collapses as there is no capital left. He had enormous wealth and influence, firstly in the New York Jewish community and later amongst the stars of Ho A Ponzi scheme is one where no investments are made.
He had enormous wealth and influence, firstly in the New York Jewish community and later amongst the stars of Hollywood and European aristocracy. Andrew Kirtzman has done an outstanding job of bringing together the history of Bernie Madoff. You see him as a young man working around the area, his university education through to his rise to fame as a sage of Wall Street. You also get a unique insight into how others saw the man during all the stages of his life. His lifestyle is laid out in detail, the yachts, the planes, the houses, yet you also see the price he paid for that wealth — the self-delusion, the secrecy, even towards his own family.
He could never let his guard down for a minute to anyone. Congratulations to the author for bringing to us a most entertaining book, it would have been easy to create a work that was dry and filled with facts and figures, but this book gives the reader the opportunity to see the life that Bernie Madoff created.
Feb 11, Kate Lawrence rated it liked it. I couldn't resist being drawn into this journalistic account of the whole Madoff debacle.
It is obvious from the start that this book relies way too much on other people's articles, views, and impressions. HarperCollins Children's Books books for young readers. A very surreal, complicated and devastating story told in a way that captures the attention of market intellectuals and the curious alike. Visit the official Harlequin book site. At work, I sit next to the author of this book. People will allow greed to suspend all rational judgement.
How can one person deceive so many of the world's wealthiest and most prominent people? Not to mention competitors, muckraking journalists, the SEC, and all members of his family, many of whom worked for him and were with him on a daily basis. Even his wife was kept in the dark about what was going on. No one ever uncovered the scam; it failed only when the economy tanked in and Madoff could not cover I couldn't resist being drawn into this journalistic account of the whole Madoff debacle.
No one ever uncovered the scam; it failed only when the economy tanked in and Madoff could not cover his increased withdrawal requests. Countless innocent people, just wanting the best return on their investments and impressed with Madoff's track record, placed their entire savings with him, enjoyed the good life for awhile, then lost it all.
Madoff's desire to be rich and recognized was stronger than any scruples he may otherwise have had, and he lived the dream--on stolen money--from his 20's until age The author's account is carefully documented and compelling. Jun 26, Alex Flores rated it really liked it Shelves: At work, I sit next to the author of this book.
Andrew Kirtzman wrote a gem here. Despite my voracious appetite for reading about the financial crisis, I had not spent anytime reading the news about Bernie Madoff amid the larger financial turmoil. Reading this book caught me up and gave me a view into just how badly Madoff's ponzi scheme really was.
In this book the reader is taken on a tour of what it was like to grow up in s NYC and Long Island as a Jew and how that cultural upbringing pl At work, I sit next to the author of this book. In this book the reader is taken on a tour of what it was like to grow up in s NYC and Long Island as a Jew and how that cultural upbringing played so heavily into Madoff's success, and ultimately every one of his victim's unwillingness to believe he might be steering them wrong.
Great read and good job of financial reporting against the backdrop of personal relationship, being Jewish, and Madoff's ego-maniacal issues. Jan 16, Miriam Dix rated it it was amazing. As whistleblower books go, this one was very well-written and researched. For me, the story of Bernie Madoff is the best real life financial thriller since Enron.
Geez, I don't know how the Madoffs sleep at night. I enjoyed read As whistleblower books go, this one was very well-written and researched. I enjoyed reading the book and getting an inside look on the Madoffs. Dec 08, Sarah Littman rated it really liked it Shelves: Takeaways from this book: People will allow greed to suspend all rational judgement.
If an investment appears to good to be true, folks, it IS too good to be true. Why would anyone in their right mind put their entire fortune with one manager? Did none of these allegedly intelligent people understand the concept of a diversified portfolio? The lust for a "guaranteed safe high return" -which as anyone who understands ho Takeaways from this book: The lust for a "guaranteed safe high return" -which as anyone who understands how the financial markets work, knows is a fictional concept - created a willing suspension of disbelief.
Apr 25, Janet Richards marked it as to-read Shelves: Of the three Madoff books I read the samples of - this one captivated me the most by describing a party of the "thought they were rich" before the Madoff ponzi scheme came to light. I'm not sure what I'm looking for - surely there must be some shred of a human that somehow became overwhelmed by his own lies?
He could not have been that heartless to even bankrupt this own sister for personal gain? Jun 07, Natalia rated it really liked it. A really easy read. A very surreal, complicated and devastating story told in a way that captures the attention of market intellectuals and the curious alike. Although, I think it was oversimplified. As much as they played down his scholastic abilities early on I think they downplayed his ultimate aptitude for the markets and the scheme. That said, essentially, he just brought in a steady stream of money that was more than he paid out.
Either way, what a story! Physical description p. M33 K57 Unknown HV M33 K57 Unknown.
Find it at other libraries via WorldCat Limited preview. Bibliography Includes bibliographical references and index. Publisher's Summary It was an inconceivable deception: With new and revealing interviews with those who worked closest to him and his family, "Betrayal" is an in-depth, penetrating look at the man who perpetrated history's most notorious financial crime. Despite the crush of media attention on Madoff's scam, little is known about Madoff himself.
What could lead a seemingly good man to ruin the lives of everyone who ever cared about him? What caused Bernie Madoff to commit an unspeakable act of betrayal, bankrupting his family, his friends, his mentors, and thousands of investors who depended upon him for their livelihoods?