Monday, May 23, 2011
New York Times Literary Treat of the Week...
Henriques, Diana B. The Wizard of Lies: Bernie Madoff and the Death of Trust. Henry Holt and Company.
The perceived gap between the rich and poor in today’s world was almost mirrored by the difference between how much Madoff’s clients had in their accounts and what was reported to them. Money from new investors was often used to pay off older ones. Bogus stock traders bought and sold at phony computers to create the illusion of industry. Henriques, a top financial writer for the New York Times, details the various times the Securities and Exchange Commission might have nabbed Madoff prior to December 2008 but failed largely due to inadequate staffing. Henriques takes an interesting stand in not including Madoff’s family among conspirators in the scandal, a contrast to general public perception that might have brought on son Mark’s 2010 suicide.
For more about Bernie Madoff, Merrick Library has the following titles:
Kirtzman, Andrew. Betrayal: The Life and Lies of Bernie Madoff.
Oppenheimer, Jerry. Madoff with the Money.
Markopolos, Harry. No One Would Listen: A True Financial Thriller.