History Hub presents a Full bi
ography of Bernie Madoff from beginning to end, who
se remarkable story impacts our lives even today.
Bernie Madoff made it into global news for a reason he is not proud of; his name will forever be attached to the world’s largest financial crime in history. However, everyone can learn a lot of lessons from his story. He managed to go through the loopholes of a financial system–that was supposedly impenetrable–that were equally abused by those before him. From another perspective, he was an extremely ambitious man who did everything he could to succeed, even to the extent of manipulating everyone around him. In doing so–in Madoff’s own words–he “made wealthy people wealthier.”
Bernie Madoff was an American fund manager, but his popularity transcends the world of finance. He is notoriously known for executing the largest Ponzi scheme in history, which swindled an astonishing amount of 65 million dollars from thousands of investors worldwide in a span of at least 17 years. The procedure of such a large-scale financial fraud was to pay initial investors with money acquired from later investors since actual investment income of such a business model is basically nonexistent.
Madoff’s career in the stock market started in 1960 when he established a penny stock brokerage after briefly studying law the same year. He had all the support from his wife, Ruth Alpern, whom he dated since high school. Alpern’s father was a retired Certified Public Accountant (CPA), whose reputation was enough to attract many investors through word of mouth. Thanks to this, the small firm grew and became the Bernard L. Madoff Investment Securities, LLC as it continued to rack up an impressive list of clientele, including celebrities such as actor Kevin Bacon and filmmaker Steven Spielberg.
Discover in this short yet concise biography the remarkable story of a life who impacted future generations. This book also contains 30 questions for an in-depth discussion into the lif
e of Bernie Madoff.
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