Markopolos' Book About Madoff is Documentary Opening Aug. 26

[NJCher]

snip from: http://online.barrons.com/article/SB50001424052702304576504576512422299327868.html?mod=BOL_twm_fs

Please note: Barron's is owned by the Ruptile.

The film, based on Markopolos' book, No One Would Listen, is less about the monster himself than about how, after a thankless nearly 10-year journey, a determined man showed that the onetime Nasdaq chairman was a financial serial killer.



snip

Markopolos:



He is a self-described numbers nerd.

I am reading the book by Markopolos now. It is called No One Would Listen. It is billed as a financial thrilled and let me tell you: it delivers! I can hardly put the book down.

When this scandal happened, I followed the story intently as a neighbor lost a million or so in this. It was his retirement fund and he is a disabled person. Also, I am interested in sociopaths, and Madoff is definitely one.

So I was really excited to see the book has also been made into a film!!

snip from Barron's:

The movie brings us the first account of how no one—not even Markopolos—realized how many mom-and-pop investors Madoff had suckered. It also dramatizes their travails. One woman and her husband lost their life savings and now live in an RV; another testified at Madoff's sentencing that she'd become a dumpster-diver.

snip

Markopolos does a very good job of developing this story. He goes into the numbers people on Wall Street and his own penchant for numbers and financial investment schemes. The part I am at now is where he's worked the Madoff numbers every way he can think of. He's had his colleagues do the same. They simply do not add up, so Markopolos has told everyone in his own firm that he thinks Madoff is a fraud. Not everyone buys his story, though. They think he's miffed because he can't figure out how Madoff is reporting profits regularly.

Another good part of the book is when he finds out what type of paperwork Madoff is sending the investors. He nearly croaks when he finds out it's just a typed up statement with no more information than the amount of the shares and the buy/sell price.

I really admired this man when we found out he tried to get the SEC on Madoff for nearly a decade. He kept going back and going back and going back and going... The world needs more Markopolos.


Cher

[girl gone mad]

1. k & r