"No One Would Listen" A True Financial Thriller by Harry Markopolos offers a unique perspective – that of the boy who kept insisting that the emperor was naked while others stood around praising the imaginary new clothes and discounting everything the boy said.
Bernard Madoff ... Hundreds of books, reports and articles talk about the events and circumstances that allowed him to cheat thousands of investors.
Harry Markopolos .. "If blank looks were dollar bills, I would have walked out of that room a rich man"
Markopolos reserves most of his criticism for the US Securities and Exchange Commission (SEC).
In fact, he rails against the regulatory body throughout the book, painting it as an organisation weighed down by incompetence, internal politics, self-interest, double standards and a shallow understanding of the very industry it supervises.
It’s telling that the epilogue of No One Would Listen is Markopolos’ list of 15 steps to transform the SEC. He wrote: “I often say, ‘We saved no one,’ which is not quite accurate, as there were a few people we warned away from Madoff; but we saved very few people. The best way to make up for that, I felt strongly, was to make sure the SEC became the agency it should be.”
http://biz.thestar.com.my/news/story.asp?file=/2010/4/17/business/5997983&sec=business
Related: http://www.corporatejourney2u.com/business/business-ethics-cases-and-the-moral-behind.html
