Too Good to Be True: The Rise and Fall of Bernie Madoff [FIRST EDITION, FIRST PRINTING]

Arvedlund, Erin

Published by Portfolio / Penguin Group, New York, 2009

About this Item

Fine unread condition dark gray boards, black spine, and gold spine lettering contained in a fine condition non price-clipped color photographic dust jacket. Includes Author Dedication; Introduction; Epilogue; Acknowledgments; Notes and Index. Illustrated with a section of black-and-white photographic plates. Light rubbing at the lower front board edge; the volume is otherwise in as new condition (see photographs). "Meet Bernie Madoff's inner circle: Peter Madoff: Madoff's younger brother helped him develop the electronic trading system that allowed Bernie to attract even more investors by trading cheaper and faster than his competitors. Ruth Madoff: Bernie's wife and high school sweetheart, she had an office at the Madoff headquarters and often traveled with Bernie to his London office and to industry events. Just prior to Bernie's arrest, Ruth withdrew $15.5 million from the couple's account, although the couple denies she had any knowledge of the fraud. Mark and Andrew Madoff: Bernie's two sons ran the proprietary trading department on the broker-dealer side of Bernard L. Madoff Investment Securities. Although they gave the SEC the tip that eventually led to their fathers arrest ." - short excerpt from the rear outer jacket. "The untold story of the Madoff scandal, by one of the first journalists to question his investment practices. 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 question - 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. But almost no one was willing to believe anything bad about "Unlce Bernie" - so nice, so humble, so generous to charities. As Arvedlund shows, Madoff was no ordinary liar, but a master of the types of lies people really wanted to belive. He kept his clients at a distance and allowed handsomely paid friends to solicit new ones for him; playing hard to get created an irresistible mystique. Now Arvedlund tackles the tough question that are still unanswerd 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 Gabiel 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? With her keen investigative eye, Arvedlund presents a sweeping narrative of Madoff's career - from his youth in Queens, New York, to his early days working for his father-in-law, to his time as chairman of the NASDAQ exchange, and finally to infamy as the world's most notorious swindler. She offers a riveting glimpse of Madoff the man - an indifferent student with little ambition who transformed himself into a star with a talent for trading, a reputation for innovation, and an unmistakably erratic nature. Readers will be fascinated by Arvedlund's portrayal of Madoff, his empire, and all those who never considered that he might be too good to be true." - from the inner front and rear jacket flaps.

Seller Inventory # 008324

Bibliographic Details

• Title: Too Good to Be True: The Rise and Fall of Bernie Madoff [FIRST EDITION, FIRST PRINTING]
• Publisher: Portfolio / Penguin Group, New York
• Publication Date: 2009
• Binding: Hardcover
• Illustrator: Perez, Joseph (jacket design); McDermid, Brendan (jacket image); Colliton, Paul (author photograph)
• Edition: 1st Edition
• Condition: Fine
• Dust Jacket Condition: Fine