Sunday, March 07, 2010

No one would listen - The account on the failure of American Financial supervision

This is harbinger of full review, because, so far, I read (i.e. listen to) only the first chapter of Harry Markopolos's "No one would listen".

Well written, almost like a thriller or good detective story, is, unfortunately I could say, based on true facts, and the author was the true detective. The book describes his investigation into Bernie Madoff case and his $65 billion Ponzi scheme. What is amazing, is that for at least last 10 years, Markopolos was sending warnings, was speaking, would offer his help to SEC - but apparently no one has seriously his warnings. Why?

Failure of FCC and SEC? Bigger failure ? Maybe....

I die for listening the full book - I will do it soon ....

2 comments:

  1. Seems to be about a similar topic to that is of Money To Burn by James Gripando, but that's fiction. The term ponzi scheme keeps popping up in that too.

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  2. It is incredible book, it was incredible fraud....

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