This book is awful. I got it thinking I was buying a book about the Madoff scandal, but this is an autobiography of Harry Markopolos. Unfortunately, Markopolos is a poor subject for a biography, auto or otherwise. Most of the book is about the author's greatness, and the stupidity of everyone else. Although he possesses intellectual and mathematical powers far surpassing those of the average man, Markopolos fails to do anything substantial about Madoff other than repeatedly submitting his suspicions to the SEC and the WSJ, even though they repeatedly ignore him. By his own admission, he never thinks about the thousands of individuals whose lives Madoff will eventually destroy, his only worry is for how the scandal will affect the financial industry. I could forgive Markopolos personal flaws, no one is perfect and it was never his job to police the financial markets, but it is grating how he takes credit for things he did not do. This is particularly apparent during the congressional hearings after the scandal broke, when Markopolos describes his joy and I-told-you-so attitude at the downfall of the SEC. It is the pettiest moment of the whole ordeal.
And make no mistake, this book is an ordeal. It's boring through and through. The only thrilling episodes in this "thriller" happen inside the author's head. Although no one ever threatens his life, Markopolos describes various "measures" he took to protect himself from Madoff, including keeping his children waiting in the car while he checks under the carriage for bombs. When the scandal breaks, his first thought is that the SEC will raid his house to destroy his documents, so he loads a shotgun and later sends his wife to "secretly" give a digital copy of the documents to a friend. I kept waiting for Markopolos to describe the six months he spent in his basement with a tinfoil hat on his head because Madoff was reading his mind.
The performance was serviceable but melodramatic. I wonder if that was a purposeful decision by the narrator, given the melodramatic implausibility of the source material. Overall, I do not recommend this book. If you want a good book about Madoff, you should get The Wizard of Lies, also available through Audible.
Too painfully slow. Few chapters in, it sounds more like a self-indulgent show-off. The book is too technical (financial jargon) for my taste.
P/S: Credits to Markopolos and team for their effort on Madoff's case.
I thought this book was fascinating. I was astounded at the greed of individuals and the gross incompetence of the SEC. Harry Markopolos has written and read this book well. It's kind of long, but this didn't bother me and I managed not to lose track of what was happening. I found myself getting frustrated at the uselessness of the SEC along with the author. It was also interesting to hear a different perspective of the financial services industry. I really enjoyed this book.
I started listening to audiobooks to help with my commute to work. I now listen to books while I sew and do my crafts.
"Shocked" I was when I heard the news of the Bernie Madoff Ponzi Scheme and all of the lives it crumbled to financial ruin. As a retired banker, I have lived my business life by checks and balances, audits, and compliance regulations. How in the heck did this get by soooo many people! Does the SEC have a management training program? Do they have a training department at all? The book does not reflect that there was any intent to defraud by the SEC, however, it does report that the people involved were made aware of the problems with Madoff and his company but did not know what to do with the information. After reading this book you will be sick after learning that this ponzi scheme could have been stopped from the first detection of the incongruous returns Madoff's clients were receiving. I will listen to this book again after reading archived newspaper articles written during this time. I have referred this book to friends. If you are not familiar with broker and financial "jargon" keep your dictionary close! Incredible inside information and a thrill ride of a read!!
Since I listen to these books on my commute to work, I didn't feel it was a waste of time, but I wasn't riveted. Some books I find myself sitting in the garage for several minutes to reach the end of a section before going inside. This was not one of thise books. All in all, it was just ok.
The main narrator did a great job. I think the
I fix stuff
If it sounds to good to be true it is. Every one should take in this book! Harry lays out just how inept the SEC is and how easy people are blinded by high returns. The story is hard to put down and very well read.
This is a fantastic road trip listen.
I really didn't think this would be the kind of book I would like but I got the first chapter free through Audible and listening to it really spiked my interest. I bought the audio book and found it to be as fascinating as it was heartbreaking. It sure shows how our government continues to let us down and I think the SEC should have been completly been dismantled, it apparently is of no help to us anyway, who knows how many more Madoffs there are still out there.Two thumbs up to the author! One for trying to bring attention to the matter and one for writting such a interesting book about it. Hope to hear more from you!
This is a telling of how Harry Markopolos investigated Bernie Madoff and his Ponzi scheme, how the fraud was uncovered, and of the efforts to get the attention of the SEC between 2000 and 2008. It is also the compelling story of how, simply, Markopolos just wouldn't give up in that effort. This is an important story. I tend to think of the SEC response in terms of simple organizational inertia where Markopolos leaves the reader thinking in terms of corruption. Perhaps they are or become one and the same.
At any rate, much damage resulted and many people were hurt because of Madoff. Markopolos provdes a morality tale with a number of lessons. The writing is okay and the reading is excellent. The book is very informative and disturbing.