At first with all the technical talk I didn't think I was going to make it all the way through this book, but it turns out to be one of my most talked about books. I highly recommend this book.
As a survivor of the subprime meltdown, and various other financial disasters, I found this an interesting book. When discussing the framework of the Madoff scheme, i.e., the failure of regulatory agencies, the failure of other market participants to call out the scheme and the disaster that ensued, the story is gripping. However, Markopolos gets tiresome quickly with his angst and handwringing, which could have bee communicated far more effectively in fewer words. Worth listening to, but tune out Harry's soliloquy's and you'll learn more.
Other reviews mention that the author is a bit over the top with his lame metaphors and self-aggrandizing, and there is some of that. But, at it's core, this is the ultimate story of how a whistle blower being a little eccentric made smug regulators ignore a terrible crime. It reminds you of every good story where the "cool but cruel" kids in high school get their comeuppance. Markopolos' work could have used a little tighter editing, but you are still in the front row of this saga. And let's face it, the author earned the right to say "I told you so" after the disgraceful way his decade of carefully documented alerts were handled by regulators.
This book is a reminder that perhaps Madoff was not the only intentionally misleading individual on Wall Street. Author Harry Markopolos over promises and under delivers. Comes off whiney and self-aggrandizing.
This book reminds me of "Confessions of an Economic Hitman" The author is not writing about Madoff. To his credit the book is sold partialy as a dialouge of what the author's involvement was.
If you're looking for a book about Madoff, look elsewhere. Nothing more then a long "I told you so" to everyone. Disappointing to say the least.
I first saw Markopolos on the Daily Show with Jon Stewart and his obvious rage against the SEC's inaction against Madoff made me want to find out exactly how badly they screwed up. This book showed me that the SEC was so complacent that their behavior bordered on complicit. I could hardly stop listening, and found myself listening well into the night and even sometimes at work.
Great book, really well written and Markopolos explains the mathematical jargon behind the markets really well. I would recommend this to anybody who cares about our government agencies doing what they were created to do!
Outstanding book; hearing it added another dimension to the angst felt by the participants in the realization that: "No One Would Listen". These experiences are not unique to his complaints, and have been used by so many "smart operators" in Wall Street for years, all knowing that the watchdogs were out to lunch. It was refreshing to listen to the concluding chapters, save for the lives lost over this diaster. It was refreshing to know that the SEC has made substantial changes and will take a more professional stance in their regulatory role. Hope springs eternal.
Thanks Mr. M. for bringing these facts to light!
Thanks Mr. M. for helping this essential institution to regain focus of their essential role in US financial affairs.
I don't have much of an understanding of the financial world, but this book inspired me to rethink my ignorance and become more involved in my investments. While I might agree that the author seems rather egotistical at times in his writing, the whole idea of exposing fraud creates an interesting (and sometimes scary) story! I liked the narrator and the different voices of real people in the audiobook. While some narrators may be lacking in expression, Scott Brick did wonderfully. I liked the other voices because they were REAL people who were involved in the story! Made it all the more real to me. A must-listen for anyone who wishes to take the blinders off about the financial world.
Terrific inside look at Wall Street. Scary and enlightening at the same time. Anyone with investments should "read" this book!
Harry and the gang are true heroes. I hope there are more like them out there--many more, but fear there are not enough.
We had Frank Casey--who first brought Madoff to Harry's attention--speak at our college. He was terrific. Strongly recommended!
Usually, you don't find books that tells you a story about something that happen only a few month ago, this one does. I always want to understand a little bit more about Wall Street, because I have a 401K account and I want to retire one day using that money that I'm saving and investing.
This book, "No one would listen" by Harry Markopolos, told me that we can not trust the government to be a guarantee of our investments. It makes it clear in this book that the industry self regulation mentality of some of the industry officials is not correct one. Also told me there are professional people in the finance industry with ethics and the good will for uncovering the wrong doing of others.
I recommend this book to all people that have money invested in the financial markets.