Bernie Madoff's book or guide will go a long way in preventing the biggest fraud in history. Do you disagree? Bernie can be said to be the most successful white-collar criminal in history, but if someone has written a book... a book by Bernie Madoff tells us that it will get us into that kind of fraudulent act. What? Will you finish reading before investing with him? It's a bit late now, but if the book is exhausted, I bet you will read it.
I can tell you that such a book does exist... a little bit. You have long seen the scandal of Bernie Madoff, long before the current Ponzi investment plan broke out, long before the current TARP rescue plan... There was a S&L crisis in the late 1980s. You see where there is money [especially a lot of money] and there is fraud [and a lot]. When you think of it, this is an amazing case of deja vu. We have been through the past two decades since the 1987 stock market crash experienced the same stock market volatility, bank violations and taxpayer-sponsored bailouts.
You will think that we have learned it now, but obviously we don't. Around the mid-1980s, a young man and future authors were just on the door to investment banking, especially bond trading. Those assets that are considered toxic today have very closely related cousins who were traded in the 1980s, many young people eager to make as much money as possible, do whatever they have to do to make money and loan bank managers to buy [and sell them]. Our future authors are not particularly different when they become bond traders. Frankly, no type of pedigree can hold this position - however, there is a six-figure salary that convinced S&L managers and other wealthy clients to buy and sell investments. Bonds.
You should already be able to tell the problem with the system and why the fraudulent solution still exists. Young people [and some women...but let's face it...it's mainly male] need to pay huge sums of money to get you and me to make as many investment deals as possible if it is For our best interests. This was true in 1987, and so is today. Every time a transaction occurs, I and your investment wealth will collapse a little and fall into the pockets of others in the form of commissions.
You will think that some of the young traders and investment professionals will have enough conscience to inform the public about the mechanisms of investing in the world and long-standing fraud. You want to believe that someone will write a book... a book by Bernie Madoff to prevent us from committing the same mistake we made in 1987. As I said at the opening, someone wrote a book by Bernie Madoff... Sorting. Someone does have enough conscience to tell everyone [and then destroy his bond trading career]. The name of Bernie Madoff, 1987, is the liar's poker. The conscience is Michael Lewis. Maybe Michael will write another story describing this scam. Maybe next time we will pay attention.
Orignal From: Bernie Madoff, who should read before investing
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