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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.

Marc Dreier: The Mind of a Swindler
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by tayza69 October 2, 2012 6:54 AM EDT
A video of a swindler paid for by goldman sachs advertising. O.o
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by janspeak August 26, 2012 6:55 PM EDT
I very much wanted to see this tape but similar to your last visitor I was unable to find it. Was Mr. Drier able to purchase its absence?
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by hthakker13 May 27, 2012 1:11 AM EDT
I can not stream this video. why? can somebody from cbsnews take a look into this please?
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by rebeccaleslie59 January 31, 2010 6:49 PM EST
A movie should be made about this gentleman's antics...you know like "rogue trader" etal. It would be a hit!! I read the article in VF as well, and frankly, found myself laughing out loudly at times, because aspects of the story sounded almost comical, more like bad fiction. Watching Mr Dreier being interviewed leads me to believe he is either in denial or is quietly congratulating himself for having "pulled a fast one", and is Ok with what he did. There are lots of individuals who are just like that ...they are bright but totally immoral and without ethics. They seem to get a kick out of doing this type of thing.
I 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.
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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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