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Gary B
Many Wall Street folks took a few looks at the Madoff
‘system’ and not only stayed away, but repeatedly warned SEC. One thing that has not been mentioned is the fact that Madoff didn’t have to convince everybody, just a few. I would suppose that less than 10% of investors or investment firms who were prospects got sucked in. That was enough. So we don’t have to assume that Madoff was some super-con – just a regular one, working in a field with a lot of zeroes in the amounts.
Just so, the Nigerian scam at one time (maybe still?) was the second largest industry in Nigeria, bringing in billions of dollars per year, on what I would assume was a much less than 1% hit rate on their ads.
striatic
While a dissection and thorough understanding of greed is important and worthy of study, i can’t help but wonder if more attention and study should be paid to the people who were on to madoff and reported him.
what was their psychology and how do we encourage it? learn to listen to it?
Warren
I C Kook
Argetlam Zarroc
