Monday, December 22, 2008

PONZI RHYMES WITH FONZIE


I know that felons are not supposed to profit from their crimes, but I would sure love to read a book written by Bernie Madoff.  The man almost pulled off the biggest Ponzi scheme in world history.  What I want to know where and how Bernie Madoff thinks his morality went off the rails.  How do you make the decision to defraud, lie, steal, and cheat on a daily basis?  Was it ego?  Did he just think he was smarter than everyone else?  I want to hear his pitch, when he made a decision to pull a Ponzi scheme, how he did the faulty accounting and how he lied to the SEC.  I really want to read the last chapter (written so far, I assume the trial will be just as scintillating), about the weeks when it started to collapse.  What would be fair and appropriate is if the profits from his book went to paying back his victims.  

If there's one life lesson relearned, if it seems too good to be true, it probably is.

Interestingly enough, every era that has a downfall has a face to put to it.  The 80's junk bond scandel had Michael Milken and this one has Bernie Madoff.

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