The world might not have changed so much if The Madoffs and The Noels didn't lust after social status. That might have been the real crime in the Madoff Ponzi scheme.
It was Bernard "Uncle Bernie" Madoff who constructed and executed the elaborate fraud. But it was Walter Noel who ran the Fairfield Greenwich Group who was a key enabler. For both, wealth was not enough. Others with wealth had to defer to them socially.
Lesson: In business, steer clear of those who want and need excess social prominence?
Comments