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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.

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by km63 November 12, 2009 4:17 PM EST
Marc Dreier fits the profile of sociopath which are Glibness and Superficial Charm, Manipulative and Conning, Grandiose Sense of Self, Pathological Lying, Lack of Remorse, Shame or Guilt, Shallow Emotions, Incapacity for Love, Callousness/Lack of Empathy, Poor Behavioral Controls/Impulsive Nature, Early Behavior Problems/Juvenile Delinquency, Irresponsibility/Unreliability, Promiscuous Sexual Behavior/Infidelity, Lack of Realistic Life Plan/Parasitic Lifestyle, Criminal or Entrepreneurial Versatility.
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.
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by tyoungos October 13, 2009 5:33 PM EDT
His past Ivy-league education, whose system is questionable in its design, has inevitably failed to help Dreier become a man of integrity and wisdom, but an exploiter. So don't be surprised we'll see more criminals like him as we head into a parasite economy characterized by no real economic growth.
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by rgeorge6100 October 12, 2009 12:12 AM EDT
I would like to show this film clip to my 2nd year MBA class at Berkeley. The topic is "Corporate Ethics and Personal Conduct". I don't want commercial interruptions. The date is scheduled for Oct. 21st. Can you assist? Thanks.
Richard George
george@haas.berkeley.edu
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by prlglny October 7, 2009 2:46 PM EDT
To those of us that actually worked at Dreier LLP and had contact with Dreier the piece was garbage. I do believe that the interview was heavily edited by Dreier (probably a pre-requiste). To think he was actually trying to make himself cry. Save it! The reason for his actions were because of "self entitlement". He thought he deserved to have it all because of who he was and what he had accomplished. You can rest assure I will be following him right out of Club Fed or watching out for Mona (the holder of the money bag). Great Final Curtain Call Dreier. You did it again.
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by fujiguruma October 7, 2009 4:55 AM EDT
The piece was good.
He looks strangely calm.
Somehow he seems better than other criminals who ripped off from average people.
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by nikkilew06 October 7, 2009 1:34 AM EDT
Let's not forget about the restaurant he "owned" in Santa Monica, and all the good people he put out of work there! It's almost a year ago and i still hate him just as much as the day Rovenger told me about it. Thank you so much "Mr. Dreier".
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by crgauth October 6, 2009 11:57 AM EDT
I want to see the interview of the folks who actually invested in him. Report states that he was paying above market rates. Seems like someone would have been suspicious. I think they just saw the big returns and never questioned anything. They should be held partially responsible for the losses. But that is how we got in to this big financial mess in the first place.
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by jlcraig52 October 5, 2009 2:58 PM EDT
Your correspondent was pretty gentle with Mr. Dreier considering that he stole $300 million for the sake of his own ego. His allegedly innovative law firm was a financial failure but rather than face facts he opted for theft. And somehow he never figured out that it was only a matter of time before he got caught, i.e., when the loans came due. What's truly pitiful is that he did it all so he could look like a big shot for while.
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by Schlameil October 5, 2009 7:18 AM EDT
Why can't I access the 60 minutes video's? I have a USERNAME AND LOG-IN PASSWORD! Is it because I am a Schlemiel? That is my username.
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by davidperi October 5, 2009 2:00 AM EDT
Listen...in the late 20s, there were Wall Street & business men who manipulated the markets & stocks to such greedy needs that created the Depression. (PBS American Experience series)This is nothing new when there is no over sight on such markets.
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