Sunday, August 11, 2013

Madoff: The Inside Story of an Obsessive Control Freak Who Fooled the World

The amounts of money that this guy fleeced are absolutely astonishing.

However, one part of this article struck me as very interesting.

Clearly, Madoff was a very skilled, sociopathic narcissist.

He made people feel like they were very special, and that seduced them.

"But perhaps his most dangerous character trait was the ability to make his investors, who ranged from the L’Oreal heiress Liliane Bettencourt and Hollywood mogul Stephen Spielberg to Wall Street banks, worthy charities and members of his own family, feel as though they were becoming part of an elite club."
"Even after Purcell and Marshall resigned, they had conversations saying that, even though they no longer worked for Madoff, they continued to hope – right up until the time of his arrest – that he would let them leave their money in his fund."
“We thought we were fortunate to be allowed to still remain in the scheme despite resigning,” said Purcell. “You were invited in, that was the whole thing. So I felt one of the special ones.”
"Except, as the thousands whose lives have been ruined by Madoff will attest."
“It didn’t turn out too special.”