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The Wizard of Lies Hardcover – April 26, 2011
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"Riveting reading. . . . [Henriques] probably knows more than anyone outside the FBI and the Securities and Exchange Commission about the mechanics of the fraud. As a consequence, in The Wizard of Lies she is able to add significant detail to the story. . . . In the end the story holds us not because of the engrossing details of the scam, but because of the human dimension."--Liaquat Ahamed, The New York Times Book Review
"Henriques offers an impressive, meticulously reported postmortem not only of the Ponzi scheme but also of Madoff's entire career. . . . The Wizard of Lies is the definitive book on what Madoff did and how he did it."--Bloomberg Businessweek
"In The Wizard of Lies, Diana Henriques, who covered the Madoff scandal for the New York Times, offers a riveting history of Mr Madoff’s shady dealings and the shattering consequences of his theft. . . . She offers a raw and surprisingly moving portrait about the toll that Mr Madoff’s deceit took on his family."—The Economist
"Entertaining… Cogent and well researched, The Wizard of Lies is an engaging narrative… [The book] reveals many moments where Madoff might have been stopped. But his investors were too trusting or too greedy to ask the right questions and US regulators were too cowed and too disorganised."--Financial Times
About the Author
Diana B. Henriques is the author of The White Sharks of Wall Street and Fidelity’s World. She is a senior financial writer for The New York Times, having joined the Times staff in 1989. A Polk Award winner and Pulitzer Prize finalist, she has won several awards for her work on the Times’s coverage of the Madoff scandal and was part of the team recognized as a Pulitzer finalist for its coverage of the financial crisis of 2008. She lives in Hoboken, New Jersey.
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For once the Goverment made a "Thief" pay for steeling "Billions" of people's Retirement Money.
The Greed continued with "Jeffrey Picower" wanting Billions when he had already takin all of his money.
Thank God his wife Mrs. Picower realized the shame in it all. Mr Picower' Greed was in line with Madoff's.
This is my first novel/biography concerning Wall Street or the financial field. In fact, my eyes usually glaze over at the mere mention of the subject. The vocabulary ("front-loading", "clawback", "hedge funds") seems arcane and daunting. Diana Henriques has written about this and a very flawed man, Bernie Madoff, in a very readable way. Like a Shakespearian tragedy, we watch Madoff self destruct, but he also takes his family and thousands of people who trusted him to their doom also. This is a personal story that goes way beyond the headlines and well worth your time.
But he had plenty of help. An inefficient SEC, hamstrung by a philosophy of deregulation going back to the earliest days of his scheme, peopled by overworked and ill-trained employees, and also caught up in Madoff's persuasive evasiveness were a key to his success. The SEC not only ignored most of the warning signs, but the repeated failures of their few, timorous attempts at investigating him simply reassured his gullible clientele that he could do no wrong.
This book includes more than one arcane passage about the strange world of Wall Street. However, with the help of Wikipedia, The Wizard of Lies becomes a first-rate thriller, and includes a lesson for all of us. When something seems too good to be true, it probably is.