9781591842996
Too Good to Be True: The Rise and Fall of Bernie Madoff share button
Erin Arvedlund
Genre Biography
Format Paperback
Dimensions 5.40 (w) x 8.40 (h) x 0.90 (d)
Pages 336
Publisher Penguin Group (USA)
Publication Date July 2010
ISBN 9781591842996
Book ISBN 10 1591842999
About Book

"Despite all the headlines about Bernard Madoff, who pleaded guilty to running a $65 billion Ponzi scheme, he is still shrouded in mystery. Why (and when) did he turn his legitimate business into a massive fraud? How did he fool so many smart investors for so long? Who among his family and employees knew the truth?" "The best person to answer these questions - and tell the full story of Madoff's rise and fall-is Erin Arvedlund. In early 2001, she was suspicious of the amazing returns of Madoff's hedge fund, which no one could explain. Her article in Barron's, based on more than one hundred interviews, could have prevented a lot of misery, had the SEC followed up." "Now Arvedlund tackles the tough questions that are still unanswered in the wake of Madoff's collapse:" "Did he start off as a legitimate money manager or was he a fraud from the beginning? Were there indications of larceny at the very start of his career?" "Why did Madoff's biggest supporters within the industry, such as Walter Noel of Fairfield Greenwich and Ezra Merkin of Gabriel Capital, ignore the warning signs that were so apparent? Did they choose to remain ignorant as long as their commissions rolled in?" "Why did SEC investigations fail to catch Madoff's Ponzi scheme even though several people had voiced concerns about his operation?" Who else helped Madoff carry out his scam? His family and close associates have denied any involvement, but was it possible for one man to engineer a heist of such scope?

Reviews

Michiko Kakutani

Ms. Arvedlund—who, in a 2001 Barron's article, was among the first to question Mr. Madoff's record publicly—works hard to situate the Madoff mess within the larger framework of hedge-fund mania and the Wall Street recklessness that led to the fiscal cataclysms of 2008. She is interested in the How of It All: how was Mr. Madoff able to scam investors (some of whom belonged to the fiscal and banking elite) for decades and how did he manage to elude detection for so many years?
—The New York Times

From the Publisher

"Ms. Arvedlund...works hard to situate the Madoff mess within the larger framework of hedge-fund mania and the Wall Street recklessness that led to the fiscal cataclysms of 2008." —-The New York Times