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Synopsis

Harry Markopolos and his team of financial sleuths discuss first-hand how they cracked the Madoff Ponzi scheme

No One Would Listen is the thrilling story of how the Harry Markopolos, a little-known number cruncher from a Boston equity derivatives firm, and his investigative team uncovered Bernie Madoff's scam years before it made headlines, and how they desperately tried to warn the government, the industry, and the financial press.

Page by page, Markopolos details his pursuit of the greatest financial criminal in history, and reveals the massive fraud, governmental incompetence, and criminal collusion that has changed thousands of lives forever-as well as the world's financial system.

  • The only book to tell the story of Madoff's scam and the SEC's failings by those who saw both first hand
  • Describes how Madoff was enabled by investors and fiduciaries alike
  • Discusses how the SEC missed the red flags raised by Markopolos

Despite repeated written and verbal warnings to the SEC by Harry Markopolos, Bernie Madoff was allowed to continue his operations. No One Would Listen paints a vivid portrait of Markopolos and his determined team of financial sleuths, and what impact Madoff's scam will have on financial markets and regulation for decades to come.

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No One Would Listen
Average rating
4 / 5
Good read, very frustrating
April 17th, 2014
Make no mistake, the math behind economics is rarely as difficult as the author contends, but if you aren't impressed by his obvious frustration and his integrity as he tried to fight one of the biggest fish on Wall Street, you aren't being very honest. If you aren't furious with the SEC, or the politicians who clearly tried to defuse the issue (Sen. Schumer) when you're done, well, you're a better person than I. If you want to see how people could turn a blind eye to Madoff (and clearly, many knew him to be a cheat before he gave up) you should read this book.
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2 reviews
January 28th, 2014
It's an in depth account of how Mr. Markopolos' struggles to convince a multitude of actors - from Madoff's investors, hedge fund (and fund of funds) managers and the almighty SEC - that Madoff's fund could only be a criminal scheme. The frustration you feel as dozens of people turn a blind eye is matched only by one's eye rolls as Mr. Markopolis makes statements like "only a handful of people in the world, including myself, could understand the mathematics behind derivative trading..." The Black-Scholes model (while deserving of the Nobel Prize) isn't dark magic. However, the story is well documented and despite the author's self-confidence, the truth of Madoff's success as a swindler becomes readily apparent. The truth is, many people knew he was a fraud...they just didn't care. A good read, and it will help you know how to protect yourself as an investor.
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2 reviews

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