Marc Dreier: The Swindler
October 4, 2009 5:00 PM
To understand how Bernie Madoff could have done what he did, listen to so-called "mini-Madoff" Ponzi schemer Marc Dreier tell Steve Kroft in his first TV interview how he scammed $400 million.
Marc Dreier: The Mind of a Swindler







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See all 18 CommentsI guess having worked in banking -Canadian - for an extended period, and not withstanding the pressure to meet targets and budget projections, the frequent checks and balances, and surprise audits were of such, that staffers vetted clients thoroughly before handing out the bank's funds.
After seeing madoff's scam and dreier's, it sends a clear messge that no one is above being vetted. Another critical issue, if it sounds too good to be true then it is very likely so..too good to be true... and i'm addressing individuals who place funds in 'schemes" where there is consistency in the returns at a high level for an extended period, this should raise red flags. Without being judgmental, there are many people who know that there's something wrong but are quite happy to collect the returns even if it were being invested in "murder inc." Investors must take some time to understand what is happening to their funds and where it's being placed, no matter how busy their schedule or they will forever be on the losing end.
The real irony is looking out the window of Marc Dreier's Manhattan penthouse he could look over and wave to Bernie Madoff. I guess it's true birds of a feather flock together. I know what it's like to get robbed by a lawyer; I had a lawyer attempted to nearly steal $250k that was being held in his trust account; so I guess it's in the blood. My suggestion would be to keep Mr. Dreier sedated and throw the key away.
Richard George
george@haas.berkeley.edu
He looks strangely calm.
Somehow he seems better than other criminals who ripped off from average people.
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