Phishing for Phools: The Economics of Manipulation and Deception
by
George A. Akerlof
,
Robert J. Shiller
and
Stanley B Resor Professor Of Economics Robert J Shiller
Published 21 Sep 2015
Edward Wyatt, “Judge Blocks Citigroup Settlement With S.E.C.,” New York Times, November 28, 2011, accessed June 10, 2015, http://www.nytimes.com/2011/11/29/business/judge-rejects-sec-accord-with-citi.html?pagewanted=all. 21. Jed S. Rakoff, “The Financial Crisis: Why Have No High-Level Executives Been Prosecuted?” New York Review of Books, January 9, 2014. 22. Harry Markopolos, No One Would Listen: A True Financial Thriller (Hoboken, NJ: Wiley, 2010), Kindle location 587. 23. That involved cutting off losses by the purchase of (put) options (which allowed him to sell stocks when their price fell below the “strike price”); paying for those puts with the sale of (call) options (which allowed their purchasers to buy stocks from him when the price went above the “strike price”). 24.
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“Nevada Gaming Tax: Estimating Resident Burden and Incidence.” University of Nevada, Las Vegas, April 2006. Last accessed May 5, 2015. https://faculty.unlv.edu/bmalamud/estimating.gaming.burden.incidence.doc. Mankiw, N. Gregory. Principles of Economics. New York: Harcourt, Brace, 1998. Markopolos, Harry. No One Would Listen: A True Financial Thriller. Hoboken, NJ: Wiley, 2010. Kindle. Mateyka, Peter, and Matthew Marlay. “Residential Duration by Race and Ethnicity: 2009.” Paper presented at the Annual Meeting of the American Sociological Association, Las Vegas, 2011. Maynard, Micheline. “United Air Wins Right to Default on Its Employee Pension Plans.”
Other People's Money: Masters of the Universe or Servants of the People?
by
John Kay
Published 2 Sep 2015
Corporate Europe Observatory, April 2014. 15. Bureau of Investigative Journalism, 2012, 9 July, http://www.thebureauinvestigates.com/. 16. ProPublica, 2013, 10 October, http://www.propublica.org/article/ny-fed-fired-examiner-who-took-on-goldman. 17. Markopolos, H., 2010, No One Would Listen: A True Financial Thriller, Hoboken, NJ, Wiley. 18. Ferguson, C. (prod. and dir.), and Marrs, A. (prod.), 2010, Inside Job, United States, Sony Pictures Classics. 19. Stigler, G.J., 1971, ‘The Theory of Economic Regulation’, The Bell Journal of Economics and Management Science, 2 (1), Spring, pp. 3–21. 20. Dekker, S., 2012, Just Culture, Aldershot, Ashgate. 9: Economic policy 1.
…
Macmillan, H., 1957, ‘Leader’s Speech’, remarks at Conservative Party rally, Bedford, 20 July. Malkiel, B.G., 2012, A Random Walk down Wall Street, 10th edn, New York and London, W.W. Norton. Manne, H.G., 1965, ‘Mergers and the Market for Corporate Control’, The Journal of Political Economy, 73 (2), April, pp. 110–20. Markopolos, H., 2010, No One Would Listen: A True Financial Thriller, Hoboken, NJ, Wiley. Martin, F., 2013, Money: The Unauthorised Biography, London, Bodley Head. McArdle, M., 2009, ‘Why Goldman Always Wins’, The Atlantic, 1 October. McCardie, J., 1917, Armstrong v. Jackson, 2KB 822. McCullough, D., 1992, Truman, New York, Simon & Schuster. McLean, B., and Elkind, P., 2003, The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron, New York, Penguin.
Boomerang: Travels in the New Third World
by
Michael Lewis
Published 2 Oct 2011
In spirit it reminded me of Bernard Madoff’s investment business. Anyone who looked at Madoff’s returns and understood them could see he was running a Ponzi scheme; only one person who had understood them bothered to blow the whistle, and no one listened to him. (See No One Would Listen: A True Financial Thriller, by Harry Markopolos.) In his negotiations with the unions, the mayor has gotten nowhere. “I understand the police and firefighters,” he says. “They think, We’re the most important, and everyone else goes [gets fired] first.” The police union recently suggested to the mayor that he close the libraries for the other four days.
Nine Crises: Fifty Years of Covering the British Economy From Devaluation to Brexit
by
William Keegan
Published 24 Jan 2019
There was an added source of concern for some officials, because I had attended a party at the Bank of England on the Friday evening at which the key officials involved in an earlier Whitehall meeting concerning the pound were present, and I spoke to several of them. Months later, I was thanked for the story about the plan to lift the cap by an old FT colleague who was now working in the City. He had placed his faith in our contacts and made a lot of money over the weekend dealing in sterling in Hong Kong. There was a plot there for a financial thriller. Another happy memory of the unwelcome strength of the pound in 1977 is the way that a Treasury friend, Mike Mercer, and I managed over lunch one day to coin a new word – ‘euphobia’ or ‘fear of good news’. Many years later I picked up a copy of Chambers Dictionary to discover that euphobia had made it into the lexicon.
Talking to Strangers: What We Should Know About the People We Don't Know
by
Malcolm Gladwell
Published 9 Sep 2019
“I gift-wrapped…their priorities”: “Opening Statement of Harry Markopolos,” Public Resource Org, YouTube, video provided courtesy of C-SPAN, February 4, 2009, https://www.youtube.com/watch?v=AF-gzN3ppbE&feature=youtu.be, accessed March 8, 2019. Markopolos biographical info: Harry Markopolos, No One Would Listen: A True Financial Thriller (Hoboken, N.J.: John Wiley & Sons, 2010), p. 11; account of trying to approach Spitzer with brown envelope, pp. 109–111. “a great deal for us…doing business” and “Being deceived…a trade-off” are both from Chapter 11 of Timothy R. Levine, Duped: Truth-Default Theory and the Social Science of Lying and Deception (University of Alabama Press, 2019).
Hype: How Scammers, Grifters, and Con Artists Are Taking Over the Internet―and Why We're Following
by
Gabrielle Bluestone
Published 5 Apr 2021
seq=1. 185.Emily Gosling, "Fyre Festival Designer Oren Aks Opens Up, Reveals Unused Designs + Bizarre Text Convos," AIGA, April 2, 2019, https://eyeondesign.aiga.org/fyre-festival-designer-oren-aks-opens-up-reveals-unused-designs-bizarre-text-convos/. 186.Aleks Eror, "What David Shapiro’s ‘Supremacist’ Teaches Us About Supreme Fuccbois," Highsnobiety, June 16, 2016, https://www.highsnobiety.com/p/david-shapiro-supremacist/. 187.Tom Peters, "The Brand Called You, Fast Company," Fast Company, August, 31, 1997, www.fastcompany.com/28905/brand-called-you. 188.Lee McIntyre, Post-Truth (The MIT Press Essential Knowledge series, February 16, 2018), Page: 175. Book. 189.Harry Markopolos, No One Would Listen : A True Financial Thriller (Hoboken, N.J.: Wiley; Chichester, 2011). Book. 190.Onur Varol et al., "Online Human-Bot Interactions: Detection, Estimation, and Characterization," International AAAI Conference on Web and Social Media, March 27, 2017, https://arxiv.org/pdf/1703.03107.pdf. 191.Michael Newberg, "As Many as 48 Million Twitter Accounts Aren’t People, Says Study," CNBC, March 10, 2017, http://www.cnbc.com/2017/03/10/nearly-48-million-twitter-accounts-could-be-bots-says-study.html. 192.Seung-A Annie Jin and Joe Phua, "Following Celebrities’ Tweets About Brands: The Impact of Twitter-Based Electronic Word-of-Mouth on Consumers’ Source Credibility Perception, Buying Intention, and Social Identification With Celebrities," Journal of Advertising 43, no. 2 (April 3, 2014): 181–95, https://doi.org/10.1080/00913367.2013.827606. 193.BBC, "How Much Does Kylie Jenner Earn on Instagram?
Madoff Talks: Uncovering the Untold Story Behind the Most Notorious Ponzi Scheme in History
by
Jim Campbell
Published 26 Apr 2021
The Extraordinary Story of Jared Kushner and Ivanka Trump An excellent behind-the-scenes look at what Madoff’s henchmen and henchwomen were doing to perpetuate their decades-long scheme—Bernie both speaks and lies, while his employees reveal what was really going on inside Manhattan’s Lipstick building. Hundreds should have been prosecuted but less than a dozen were—this is the story. —Harry Markopolos, Madoff whistleblower and author of No One Would Listen: A True Financial Thriller To this day, there is ceaseless speculation about who knew (or did not know) what about the almost-$65-billion Madoff fraud. Jim Campbell puts an end to idle chatter with this book. Yes, Campbell got the Madoff family to open up, but like the veteran interviewer he is, he got so many others involved in this debacle to reveal previously hidden experiences of Madoff as a private man, his so-called investment fund, and how he interacted with both the broader world and his family.
Nobody's Fool: Why We Get Taken in and What We Can Do About It
by
Daniel Simons
and
Christopher Chabris
Published 10 Jul 2023
Donnelly and N. Toscano, The Woman Who Fooled the World: Belle Gibson’s Cancer Con, and the Darkness at the Heart of the Wellness Industry (London: Scribe, 2018). 15. Madoff sources: Interview with SEC Inspector General David Kotz, appendix to audiobook of H. Markopolos, No One Would Listen: A True Financial Thriller (New York: Wiley, 2010); Michael Ocrant, quoted by Markopolos, p. 82; Madoff quotation from video “Roundtable Discussion with Bernard Madoff,” October 20, 2007 [https://www.youtube.com/watch?v=ab1NTIlO-FM]. For more on how confidence works, see Chapter 3 of The Invisible Gorilla. 16. Rick Singer pleaded guilty to charges of racketeering conspiracy, money laundering conspiracy, conspiracy to defraud the United States, and obstruction of justice on March 12, 2019, and agreed to cooperate with the Department of Justice investigation [https://www.justice.gov/usao-ma/investigations-college-admissions-and-testing-bribery-scheme].
Warnings
by
Richard A. Clarke
Published 10 Apr 2017
David Nakamura and Chico Harlan, “Japanese Nuclear Plant’s Evaluators Cast Aside Threat of Tsunami,” Washington Post, Mar. 23, 2011, www.washingtonpost.com/world/japanese-nuclear-plants-evaluators-cast-aside-threat-of-tsunami/2011/03/22/AB7Rf2KB_story.html (accessed Oct. 4, 2016). CHAPTER 6: THE ACCOUNTANT: MADOFF’S PONZI SCHEME 1. Enormous amounts have been written about the Madoff case, but we benefited particularly from Harry Markopolos’s own book, No One Would Listen: A True Financial Thriller (Hoboken, NJ: Wiley, 2010); Erin Arvedlund, Too Good To Be True: The Rise and Fall of Bernie Madoff (New York: Portfolio, 2009); U.S. Security and Exchange Commission Office of Inspector General, Investigation of Failure of the SEC to Uncover Bernard Madoff’s Ponzi Scheme (Public Version) (2009); and a series of articles by Mark Seal that appeared in Vanity Fair magazine as “The Madoff Chronicles,” in April, June, and September 2009. 2.
Finance and the Good Society
by
Robert J. Shiller
Published 1 Jan 2012
Geert Rouwenhorst, eds., The Origins of Value: The Financial Innovations That Created Modern Capital Markets, 31–42. New York: Oxford University Press. Marcus, Alan J. 1984. “Deregulation and Bank Financial Policy.” Journal of Banking and Finance 8(4):557–65. Markopolos, Harry. 2011. No One Would Listen: A True Financial Thriller. New York: Wiley. Martel, Gordon. 2008. Origins of the First World War. New York: Pearson Longman. Martin, Sarah B., D. Je Covell, Jane E. Joseph, Himachandra Chebrolu, Charles D. Smith, Thomas H. Kelly, Yang Jiang, and Brian T. Gold. 2007. “Human Experience Seeking Correlates with Hippocampus Volume: Convergent Evidence from Manual Tracing and Voxel-Based Morphometry.”
The Black Box Society: The Secret Algorithms That Control Money and Information
by
Frank Pasquale
Published 17 Nov 2014
For example, agency critics like Harry Markopolos have berated it for years for failing to catch Bernie Madoff earlier; the (now-deleted) MUI file about him might have led to some accountability for the individuals who failed to follow up on complaints about Madoff. Harry Markopolos, No One Would Listen: A True Financial Thriller (Hoboken, NJ: John Wiley & Sons, Inc., 2010). Past bad behavior can contextualize current accusations. But such a process would also prove embarrassing to the agency itself. Undoubtedly, in some of those cases, materials related to an MUI could raise questions about why personnel involved failed to launch a full-fledged enforcement action. 130.
Madoff: The Final Word
by
Richard Behar
Published 9 Jul 2024
It doesn’t have the budget for that, not by a long shot. The widely recognized whistleblowing “hero” in the Madoff case is a Boston-based quant named Harry Markopolos. Following Bernie’s arrest, Markopolos testified before Congress about the scandal, wrote a book titled No One Would Listen: A True Financial Thriller, and starred in a documentary called Chasing Madoff. He turned the Bernie saga into his own little PR (and cash) machine. It is true that Markopolos alerted the SEC on three occasions—in 2000, 2001, and 2005—to his suspicions about Bernie. And he has been lambasting the agency ever since for not catching him in time.
No One Would Listen: A True Financial Thriller
by
Harry Markopolos
Published 1 Mar 2010
Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. For more information about Wiley products, visit our web site at www.wiley.com. Library of Congress Cataloging-in-Publication Data: Markopolos, Harry. No one would listen : a true financial thriller / Harry Markopolos. p. cm. Includes index. eISBN : 978-0-470-62576-7 1. Madoff, Bernard L. 2. Ponzi schemes—United States. 3. Investment advisors—Corrupt practices—United States. 4. Hedge funds—United States. 5. Securities fraud—United States—Prevention. 6. United States. Securities and Exchange Commission—Rules and practice.
Bernie Madoff, the Wizard of Lies: Inside the Infamous $65 Billion Swindle
by
Diana B. Henriques
Published 1 Aug 2011
Bankruptcy Court for the Southern District of New York, p. 15. 73 subsequent lawsuits would claim that the firm’s compliance officer was Peter Madoff’s daughter, Shana: Ibid., p. 14. 73 several hundred clients with traditional brokerage accounts: It cleared those customer trades through Bear Stearns until that firm was taken over in early 2008. 75 Some options traders called his new strategy a “bull spread”: Harry Markopolos, No One Would Listen: A True Financial Thriller (Hoboken, N.J.: John Wiley & Sons, 2010), p. 27. 75 the right (the “option”) to buy or sell that stock at a specific price: The right to buy a stock was called a “call option.” The seller of a call option is promising to let the buyer purchase the shares at a specified price for the term of the option.
Extreme Money: Masters of the Universe and the Cult of Risk
by
Satyajit Das
Published 14 Oct 2011
George Magnus (2009) The Age of Aging: How Demographics Are Changing the Global Economy and Our World, John Wiley, New Jersey. Sebastian Mallaby (2010) More Money Than God: Hedge Funds and the Making of the New Elite, Bloombsbury, London. Benoit Mandlebrot (2004) The (Mis)behavior of Markets, Basic Books, New York. Harry Markapolos (2010) No One Would Listen: A True Financial Thriller, John Wiley, New Jersey. Paul Mason (2009) Meltdown: The End of the Age of Greed, Verso, London. Mark McCormack (1984) What They Don’t Teach You At Harvard Business School: Notes From A Street-Smart Executive, Bantam, New York. Larry McDonald (2009) A Colossal Failure of Common Sense, Ebury Press, London.
State of Emergency: The Way We Were
by
Dominic Sandbrook
Published 29 Sep 2010
The City of London: the last bastion of an institutional conservatism that was otherwise dying out; the last bastion of a stiff-upper-lip Englishness that was on the wane everywhere else; the last bastion, indeed, of the bowler hat. The City: ‘overgrown village, rumour mill, with an atmosphere of a regimental mess and the sense of humour of an Edwardian boys’ paper, full of private language, secret rituals and enough games to last a working lifetime,’ as the narrator puts it in David Jordan’s financial thriller Nile Green (1973). Nowhere better captured its values than Sweetings, the famous restaurant where ‘the City man goes for lunch when he’s nostalgic for his schooldays … Bread and butter, brown and thin and damp, a memory of cricket on the lawn before Evensong. Ginger beer and lemonade. Sherbert.