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No One Would Listen: A True Financial Thriller | [Harry Markopolos]

No One Would Listen: A True Financial Thriller

No One Would Listen is the exclusive story of the Harry Markopolos-lead investigation into Bernie Madoff and his $65 billion Ponzi scheme. While a lot has been written about Madoff's scam, few actually know how Markopolos and his team - affectionately called "the Fox Hounds" by Markopolos himself - uncovered what Madoff was doing years before this financial disaster reached its pinnacle. Unfortunately, no one listened, until the damage of the world's largest financial fraud ever was irreversible.
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Publisher's Summary

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.

SEC Disclaimer
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.

Download the accompanying reference guide.

Click here to listen to Dr. Gaytri Kachroo's speech to the World Legal Forum.

©2010 Fox Hounds, LLC (P)2010 Audible, Inc.

What the Critics Say

  • Audie Award Nominee - Best Nonfiction Audiobook, 2011

What Members Say

Average Customer Rating

4.2 (1337 )
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Performance
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  •  
    Lucinda Augusta, Georgia, United States 08-31-12
    Lucinda Augusta, Georgia, United States 08-31-12 Member Since 2011
    HELPFUL VOTES
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    "Wow"
    What did you like about this audiobook?

    The methodical way in which the author gathered his evidence. I learned a great deal about the financial systems and how they could be corrupted. Markopolos and his team took on something that was so big so complex and dangerous for so long....


    How has the book increased your interest in the subject matter?

    When Markopolos explained how he and his team cracked the case by following the money. Sounds simple....


    Does the author present information in a way that is interesting and insightful, and if so, how does he achieve this?

    Markopolos


    What did you find wrong about the narrator's performance?

    When he found out Bernie Madoff had been stopped. All the people who called to tell him all his hard work had finally paid off. And how much money and lives that could have been saved if someone would have listened and acted sooner.


    2 of 2 people found this review helpful
  •  
    Chris Sydney 06-27-12
    Chris Sydney 06-27-12 Member Since 2012

    Tell us about yourself! I love to escape into a good book.

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    "You Can Lead A Horse To Water But..."

    This was a great listen, I cant believe the effort Harry Markopolos went to, to expose Bernie Madoff. The money and potential investors that could have been saved is astounding.
    That the Securities and Exchange Commission failed to discover the fraud even though they were given this information is incredulous and should be frightening to all investors in this country and abroad. The financial system has still not been fixed and we have a real danger of having another collapse in the near future. This will be the case as long as the only guiding incentive is GREED.

    2 of 2 people found this review helpful
  •  
    Sandy BUCKETTY, Australia 09-18-11
    Sandy BUCKETTY, Australia 09-18-11 Member Since 2008

    Love having someone read me a story. Fires in the hearth, rain on the roof, sunny days and surf. Good friends, good food and J S Bach.

    HELPFUL VOTES
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    "Good Listen and Thanks for the PDF"

    Others have said it all. This is a good listen. I truly appreciate the PDF file, and hope that other Audible talking books will include similar, where it is appropriate.
    (maps, pictures etc in history books).
    And I thought Aussies had the 'tall poppy' syndrome! ( finding fault with a real achiever). Bravo Harry. You saw it and called it.

    2 of 2 people found this review helpful
  •  
    annhere Abbotsford, B.C., Canada 03-11-10
    annhere Abbotsford, B.C., Canada 03-11-10 Member Since 2002

    Ann.

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    "RIVETING!"

    I was still awake at 2:00 a.m. listening to this -just couldn't put it down. Makes me wonder what hope is there for the "little guy" who wants to invest in the stock market when the "monsters" are allowed to rampage free.

    My only complaint is the departure from the professional narrator to the author and friends when quoting e-mails. Fortunately this was only a very small part of the book. I believe authors would do well to leave the narrating to the professional, just as the SEC would do well to leave the sleuthing to the professional math whizzes. I tend to shy away from books that are self narrated as I have been 'burned' too many times. Surely the author would make more money in the long run by investing in a professional narrator.

    Ann.

    8 of 10 people found this review helpful
  •  
    Chris new york, NY, United States 04-21-10
    Chris new york, NY, United States 04-21-10 Member Since 2008
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    "A firsthand account of regulatory failure"

    This book is a great practical primer on why regulation in its current state is inadequate--the author would say inept--and presents a compelling argument for the introduction of quantitative methods as part of a the investigative process. The author names names and outs the people who had the Madoff fiasco handed to them, only to find a reason not to pursue it. It is a shocking and credible account of the subtleties of professional motivation on the part of regulators who, assuming they do not screw up too badly at the Commission, find themselves lucrative positions as compliance officers at the companies they once regulated.

    Be warned. This is a 13 hour book. At times, it seems like there is a great bottle of wine trapped in a giant vat of sticks seeds and skins...it really needs to be filtered. In fact, this is perhaps the most poorly edited book on the financial crisis I have read to date, and I have read a dozen or more. You might consider waiting for the abridged version, which I can't believe will be more than 6 hours.

    7 of 9 people found this review helpful
  •  
    Marcos Henrique Faco Rio de Janeiro, Brazil 03-24-10
    Marcos Henrique Faco Rio de Janeiro, Brazil 03-24-10 Member Since 2007
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    "You get involved!!"

    Must read to undestand how the market really works!! Real story that shake Wall Street.

    4 of 5 people found this review helpful
  •  
    Scott Roseville, CA, United States 03-23-10
    Scott Roseville, CA, United States 03-23-10 Member Since 2006

    Don't you just love a great story well told?

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    "A MUST READ (for ANYONE wanting to retire)"

    This TRUE STORY is of one very bright guy who EASILY figured out Bernie Madoff was a Ponzi schemer. He also explains how anyone with simple market knowledge could have proved that fact.
    Hear to the anguish of a man who tried valiantly to stop a the financial Titanic that was Madoff before he hit the "iceberg".
    This story of incredible government incompetence should be read as ammo for letters written to your federal congressmen and women.
    There is other narration to give voice to e-mails exchanged.
    The scary thing is that, in spite of this ONE massive fraud falling apart business as usual continues! 1) The story gives insight into the amazingly clever / complex devices ingenious investors continually concoct.
    The problem we, John/Jane. Q. Public depend on the government to check those firms. Here, the market was essentially unregulated by a lame S.E.C. (How lame? Read and be shocked.) For those who think all regulation is bad this book will give you shivers about your ostensibly SAFE "funds". (Well, all but T-Bills and Certificates of Deposit)
    The author has common sense suggestions to fix a very broken system. Read, write or call and get the system fixed. ONLY THEN will your $$$$$ FINALLY be truly safe from investors who gamble on ever more complex financial "products." Right now you have just the luck of the market with no guarantee that your firm is even honest.
    Teensy gripe: The editor and/or writer endlessly attempt to amuse with metaphors for the inability of the Security Exchange Commission to find ANYTHING. It stops being funny after the 6th, 7th, 10th, one. Sheesh, a better editor might have cut them to half and keeping the funniest.

    6 of 8 people found this review helpful
  •  
    John Yakima, WA, USA 04-15-10
    John Yakima, WA, USA 04-15-10 Member Since 2008
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    "Not surprising no one would listen..."

    There's a good story here, but so repetitious. I get that he is bright, his motives are true and yes he deserves lots of credit for trying to expose this crook, but halfway through the book I'm thinking perhaps there's a reason no one would listen to him. He is admittedly eccentric, possibly comes across in real life as a bit of a crank, and the world tends to not take such people seriously, which in this case is a shame, and a very expensive one.

    12 of 17 people found this review helpful
  •  
    La Becket New York, NY 06-22-13
    La Becket New York, NY 06-22-13 Member Since 2011

    LaB

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    "A good story, as told by a megalomaniac"
    Any additional comments?

    The story of Madoff's appalling, decades-long fraud is undeniably riveting -- but Markopolos is an egotist of colossal proportions. His uniquely off-putting personality (misogynist, megalomaniacal, breath-takingly self-important and self-aggrandizing) shines through his merely adequate expository prose.

    From the very beginning, he's eager to let the reader know we have no hope of understanding the market machinations he's describing, and we shouldn't even try (indeed, he doesn't even try to explain them). Never was there a room in which Harry Markopolos wasn't the smartest guy; never was there anyone clever enough to appreciate Markopolos's unique and world-altering genius.

    Worth a listen because of the interest of the underlying story of Madoff -- but only if you can stomach Markopolos.

    1 of 1 people found this review helpful
  •  
    Brock DONOSTIA-SAN SEBASTIAN, Spain 05-08-13
    Brock DONOSTIA-SAN SEBASTIAN, Spain 05-08-13 Member Since 2012

    So much to learn, and so little time to sit down and read. Thanks Audible.

    HELPFUL VOTES
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    "Liked the story, but not the author"

    The story of Bernie Madoff's ponzie scheme is truly remarkable. The ability of one guy to single handedly steal billions of dollars from innocent people in broad daylight is an amazing feat, but even more amazing was the ignorance of the SEC, the organization that's sole purpose is to protect investors.

    For the first half of the book I was amazed by the way the SEC kept shunning Markopolos' attempts to investigate Madoff's company, but as I listened more I began to understand a little better why they may have responded like they did. Markopolos is just a little too sure of himself, and as the book progressed he began to get annoying. He loved to use "clever" little phrases throughout the book, like "they couldn't find a batter in the batter's box", "they couldn't find a steer in a stampede", "it was like trying to reign in a beehive with a chainlink fence", or "they pay peanuts and wonder why they wound up with so many monkeys". A few of these phrases scattered throughout the book would have been great, but they were used non-stop throughout the book, and I could just visualize Markopolos beaming with pride each time he dropped one, especially when it was to blast the SEC.

    If you aren't familiar with this story, this audiobook will be very intriguing to you. The time passed very quickly and the book didn't ever drag on. I just became increasingly annoyed with the author towards the end of the story.

    1 of 1 people found this review helpful
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