No One Would Listen: A True Financial Thriller is exactly what the title promises. This is more than another book about the Bernie Madoff scandal, this is a fast-paced, blow-by-blow, true-crime story that you have to hear to believe. In a true David and Goliath tale, the underdog number cruncher uncovers the largest financial fraud in history, and has to fight everything and everyone in the system to bring it down. Harry Markopolos and his team of financial sleuths tell first-hand how they cracked Madoff’s $65 billion Ponzi scheme yet, amazingly, the Securities and Exchange Commission (SEC) refused to hear the truth for nearly 10 years. Told from the perspective of the ultimate whistleblower in modern corporate memory, No One Would Listen is bound to be the definitive narrative of this scandal.
This special edition includes an exclusive 10th chapter available only in audio, featuring testimony from three victims of the Madoff scheme who came in to the Audible studios to share their shocking and heartbreaking stories. In addition, David Kotz, the Inspector General of the SEC, speaks candidly about his investigation. Throughout the audiobook, you’ll also hear scathing commentary from congressional leaders on the blatant failures of the commission. No One Would Listen is more than an audiobook. It's a lasting audio testament to the largest white-collar crime in history.
The Securities and Exchange Commission disclaims responsibility for any private publication or statement of any SEC employee or Commissioner. This audiobook expresses the author's views and does not necessarily reflect those of the Commission, the Commissioners, or other members of the staff.
Click here to listen to Dr. Gaytri Kachroo's speech to the World Legal Forum.
©2010 Fox Hounds, LLC (P)2010 Audible, Inc.
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.
This is the kind of styles I like: good pace, cerebral, well-documented, meaty, mind-bending.
The title says it all "A True Financial Thriller." This is not intended as an account of Madoff's fraud but as a thriller of a person in search of the world's largest fraud. Although entertaining, I have to say it fails completely as a personal biography or a thriller, let alone as an explanation of the fraud or the SEC investigation. The problem is that, right at the start, there is little Markopolos knew about Madoff, since he gathered most of what he knew from public sources. Except for the 'mathematical' proof, which should have triggered further investigations, most of the book is spent rambling about other's inability to push further. This also makes for a very poor topic for a thriller.
As a biography, Markopolos is too emotional about his own character to be convincing or interesting. It's initially amusing when he thinks he will get shot by Madoff or robbed by the SEC, without any actual events that would indicate that would happen, but it gets old quick and certainly is not a topic for an entire book. It's also amusing to poke fun at otherwise clueless "financier," i.e., elevated salesmen, but there is so much material there to build on.
Should Markopolos have testified about his experience with Madoff and the SEC? Yes, definitely. Should he had written a book? Not really, nothing to see there beyond what you can find in 5 minutes on the web.
This book could never have been written as a work of fiction, because nobody would publish such a terrible detective story.
Come on, how can we believe that the Securities and Exchange Commission can ignore such blatant crookery for nearly 10 years, even in the face of overwhelming evidence as well as a whistle blower shouting 'over here, look over here!' Yea right, Mr Markopolos, and you also want us to believe that clever, highly educated financial professionals are duped by a little old man who says ' Well, I have this really clever and secret computer program you see...'. Oh, and the press isn't interested, the public doesn't want to know and European royalty and the Russian mob are suspected to be involved as suckers in the scam.
It's rubbish, it's unbelievable, the plot is flimsy and the whole thing is just messy.
Except that it's true and it happened.
What a cracking good book and yes, you really do have to read it to believe it. The story is interesting and easy to follow even for folks, like me, who are not in the financial industry and the narrator is easy on the ear. A great book, buy it.
My only criticism: lose the two voices who occasionally read very short paragraphs, they're annoying in the extreme.
Listening to the book, I had the feeling that it is unncessarily prolonged. Repeatedly, the book comes back to the point that "no-one would listen". Madoff story is interesting but could be told in half the space.
I have been a book lover my entire life. However, as of late, it is difficult for me to sit and read a traditional book cover to cover. Audiobooks are great. I drive for a living. so, I listen a new audiobook every month.
This was an amzing listen. I learned so much and was entertained as well. Bernie Madoff did so much financial damage to so many lives. but, he was just the one that was so egregious about his action and was caught.
This kept me on my toes andf opened me up to a world and time I was woefully ignorant of before.
Great Job by all involved!
I may have enjoyed this more because I am in the investment field but I coulden't wait to hear the next part. It really played out like a fiction thriller but more exciting because it is/was real. I was aware of Markopolos but had no idea of the depth of the story. It has a bit of an 'I told you so' in both the story line and in Harry's voice, but hey, he's entitled.
This story, whether completely true, or just one mans interpretation was definitely worth listening to. I do believe the narration was fantastic, which is what really made this book.
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.
imho - ymmv
The scandalous tale of how Harry Markopolos & his team investigated Bernie Madoff's $50b Ponzi scheme for a decade but no-one would listen - until the scheme imploded during the housing crisis. The willful failure of the SEC in particular to hear and act makes your blood boil.
Audible's production of this book is excellent - taking full advantage of the medium by mixing in real statements, interviews and congressional hearings to great effect.
Report Inappropriate Content
If you find this review inappropriate and think it should be removed from our site, let us know. This report will be reviewed by Audible and we will take appropriate action.