No One Would Listen, a True Financial thriller by Harry Markopolos is a gripper. Forget that I, a daughter of a municipal bond person, can’t read the stock page, and this book is filled with discussions of derivatives, Ponzi Scheme (think Madoff), Harry Markopolos grips the reader to his account of discovering Bernie Madoff and his scheme which was ignored by the SEC and eventually grew to the size of $65 billion Ponzi scheme.
Markopolos is a wonderful writer, chatty, very intelligent, a math geek, quant, who sees relationships among number as a writer would letters to a page and a composer stairways to the sky in a jazz rift. He struggled for 8 years trying to warn investors, the SEC of Madoff’s schemes, only to meet disinterest and disfunction.
Totally huge event. Had agencies listed to Markopolis. Had the SEC listened to Markopolos in the year 2000, the money saved would have been forty-three billion dollars.
Amazing story; brave man, and it was dangerous for himself, his family and his team. a must read.