The Madoff story exemplifies the reasons all economic ideologies fail, those pesky humans. It is about trust, naivete, greed, false hope, the American dream and the destruction of the American dream. It further verifies if it is too good to be true it is too good to be true.
'What We Wrote About Madoff'
"Our 2001 story, excerpted here, questioned Bernie Madoff's too-good-to-be-true track record well before his Ponzi scheme was exposed.
"What Madoff told us was, 'If you invest with me, you must never tell anyone that you're invested with me. It's no one's business what goes on here,'" says an investment manager who took over a pool of assets that included an investment in a Madoff fund. "When he couldn't explain how they were up or down in a particular month," he added, "I pulled the money out.""
What We Wrote About Madoff - Barrons.com
Bernard L. Madoff - Business Exchange
'What We Wrote About Madoff'
"Our 2001 story, excerpted here, questioned Bernie Madoff's too-good-to-be-true track record well before his Ponzi scheme was exposed.
"What Madoff told us was, 'If you invest with me, you must never tell anyone that you're invested with me. It's no one's business what goes on here,'" says an investment manager who took over a pool of assets that included an investment in a Madoff fund. "When he couldn't explain how they were up or down in a particular month," he added, "I pulled the money out.""
What We Wrote About Madoff - Barrons.com
Bernard L. Madoff - Business Exchange