• WisBusiness

Wednesday, April 29, 2009

Book review: "Catastrophe: The Story of Bernard L. Madoff, The Man Who Swindled the World"

By Terri Schlichenmeyer
by Deborah and Gerald Strober c.2009, Phoenix Books $14.95 / $16.95 256 pages
Ever play "Chutes and Ladders"?

"Chutes and Ladders", of course, was (and still is) a board game for small children. If you land on a square with a ladder, you move up the board quickly. If you land on a square with a chute, you slide back down just as fast. First to the top wins.

And that pretty much sums up the stock market lately. Up the ladder, down the chute, and few winners.

But some investors lost everything to someone authors Deborah and Gerald Strober say has been called the most hated man in New York. In the new book "Catastrophe", you'll read about Bernie Madoff, his scams, and his victims.

Bernard Madoff was born in 1938 in New York and was raised in Queens. Although he attended a close-knit high school, surprisingly few of his classmates remember him from then. His acumen with money wasn't obvious when he was in high school, but in 1960, he took $5,000, invested it, and founded Bernard L. Madoff Investment Securities, LLC, or BMIS.

Almost quietly, he began making his fortune. Madoff was doing things that few brokers were doing; some later called him a "pioneer" and a "financial wizard". Few experts had even heard of him prior to the 1980s. No one seems to know for sure when he started his Ponzi scheme.

When the scandal broke and Madoff was arrested, people were horrified to learn that the man they trusted was "a thief". Some lost millions of dollars; others lost everything, having turned over their nest-egg or their entire retirement fund to Madoff for investing. Most question whether he actually invested anything at all.

The list of victims reads like a Society Page: a senator, a filmmaker, actors, playwrights, Palm Beach residents, sports team owners. Madoff even swindled a 90-year-old man who considered Madoff "as a son".

But you know all -- or most -- of this. So why read the book?

Authors Deborah and Gerald Strober doggedly interviewed dozens of people who were victims of or knew Bernard Madoff, people who were affected by his actions, and a few who were able to see past his "charm". Although it dips into the melodramatic and sometimes reads like a supermarket tabloid, pulling all this information into one place makes this book an as-comprehensive-as-possible explanation of what transpired, given that we may never know for sure.

Surprisingly, religion comes into play a lot in "Catastrophe", and not just because Madoff is Jewish, as are many of his victims. The authors explore forgiveness, which is interesting since they include irate quotations pulled from other sources, as well as plenty of angry blog entries in this book.

In their afterword, they discuss how this happened, and they offer scenarios for what comes next in this drama and in the way we do financial business.

If you love to play the stock market, gambol in gambling, or otherwise sport with your savings, pick up "Catastrophe". This cautionary (true) tale proves that the game of finance is no game at all.

-- Schlichenmeyer has been reading since she was three years old and she never goes anywhere without a book. She lives on a hill in Wisconsin with two dogs and 11,000 books.


Comments: 17

At October 15, 2013 at 7:09 AM, Blogger alex hren said...

I quickly realized that my writer was NOT American. He did not speak English and certainly could not write well. Despite this, I went back to and asked for a revision from a different writer. They didn’t want to help me and told me that “this is just their system” and it’s community oriented with ratings. I asked myself, if this guy had such a high rating, what would a low rating writer look like?

At this point, I realized that I wasn’t going to get a good paper from so I just decided to get my money back and write it myself. But their support people didn’t want to help me get my money back for the poor job. They even threatened me by saying that they will file for copyright suit if I didn’t shut my mouth. Well, I am a computer science nerd and know how to build websites. I guess they just pissed off the wrong person. I cut my losses and let them take my money, but I have to make sure that others don’t get ripped off like I did.

McKenzie on June 9, 2013 at 1:07 AM said:
Thanks for a great website. I found the link on

Reply ↓
Joe on August 17, 2013 at 4:25 PM said:
Sorry, take great care while choosing writing help companies.

At July 23, 2014 at 11:06 AM, Blogger steven muler said...

Although he attended a close-knit high school, surprisingly few of his here classmates remember him from then.

At September 26, 2015 at 11:32 PM, Blogger mahjong said...

Really impressive post. I read it whole and going to share it with my social circules. I enjoyed your article and planning to rewrite it on my own blog.
mahjong | agario | minecraft|halloween | pacman| kizi | hulk | mickey mouse games | sniper games

At May 8, 2016 at 9:03 PM, Blogger Candy Sim said...

All the best blogs that is very useful for keeping me share the ideas
of the future as well this is really what I was looking for, and I am
very happy to come here. Thank you very much
earn to die play
earn to die
earn to die 3
Hi! I’ve been reading your blog for a while now and finally got the
earn to die 4
courage to go ahead and give youu a shout out from
earn to die 6
Austin Texas! Just wanted to tell
earn to die 5
you keep up the fantastic work!my weblog
age of war
Hi! I’ve been reading your blog for a while now and finally got the
happy wheels

tank trouble 3

At May 12, 2016 at 3:56 AM, Blogger hường lê said...

We are really grateful for your blog post. You will find a lot of approaches after visiting your post. Great work.

Such a very useful article. Very interesting to read this article.I would like to thank you for the efforts you had made for writing this awesome article.
Sign in to Gmail to access to all Gooogle services. Log in to your account or sign up to create a new account
gmail sign in

gmail log in

what's gmail?

In this game, you start at the cavern men's age, then evolve! There is a total of 5 ages, each with its units and turrets. Take control of 16 different units and 15 different turrets to defend your base and destroy your enemy.
age of war

We are really grateful for your blog post. You will find a lot of approaches after visiting your post. Great work.
happy wheels

strike force heroes

earn to die

Fireboy and Watergirl arrived again to the temple in the forest. 2 players together can help them to find their way out.

At May 22, 2016 at 1:11 PM, Blogger aliya seen said...

The recommendation letter for master degree is very important for the people who are associate with business education. This will surely help you lot.

At July 25, 2016 at 10:16 AM, Blogger Kelly Anni said...

We are really grateful for your blog post. You will find a lot of approaches after visiting your post. Great work.
contact form | snapchat emoji

At August 2, 2016 at 5:20 AM, Blogger Dissertation Writing said...

The trustee in the Madoff case is pursuing account holders who withdrew more than they deposited. I study about him as American convicted of fraud and a former stockbroker, investment advisor, and financier.
custom academic writing services

At August 17, 2016 at 10:18 PM, Blogger Soc Cute said...

Wow ... This game is great too. Let go of your game.
gum mayhem 3 | can you pet 2
learn to fly 3 | happywhell
tank trouble 3

At November 21, 2016 at 10:42 PM, Blogger Candy Sim said...

This is one of the cult game now, a lot of people enjoy playing them . Also you can refer to the game :
gold mine strike | pokemon go 2
The game controls are shown just under . Movement mechanisms primarily include acceleration and tilting controls.
stickman games | stick war 2 | animal jam 2

At August 14, 2017 at 2:48 AM, Blogger opera mani said...

mobdro download
mobdro for ios
mobdro for blackberry

At August 30, 2017 at 10:00 PM, Blogger قمم التميز said...

شركة عزل اسطح
خدمات عزل الاسطح من الخدمات التى فى حاجة الية فى المكان فاذا اراد ان تقوم باعمال العزل لاى اسطح فى المصانع – المنازل – الفلل ... وغيرها وتبحث عن افضل الخدمات التى تساعد فى الوصول الى افضل ما تتمنى ان ترى علية النتائج فعليك ان تتعاون مع شركة قمم التميز التى تحقق اعلى مستوى من العزل بالاعتماد على افضل المواد المخصصة فى القيام باعمال العزل والتى استطاعت ان تتاكد ان اعمال العزل التى تتم بالخيش المقطرن والسيلتون من افضل الخدمات المثالية المميزة التى تحقق اعلى مستوى من العزل دون ان يؤدى الى ظهور اى عيب فى اعمال العزل . شركة عزل اسطح بخميس مشيط
لا تكتفى شركة قمم التميز بالقيام باعمال العزل فى منطقة معينة بل تسعى الى الوصول الى اى مكان فى شرق الرياض – جنوب الرياض – غرب الرياض – وسط الرياض من اجل ان تحقق خدمات العزل لجميع عملاء الشركة الكرام . شركة عزل خزانات بخميس مشيط
تهتم شركة عزل اسطح بالقيام باعمال العزل الحرارى من خلال الاعتماد على افضل الطرق المثالية وافضل الخدمات المميزة فى القيام باعمال العزل بالاضافة الى ان الشركة تهتم باعمال الكشف الدورى من فترة الى اخرى من اجل ان يتم التحقق ان اعمال العزل تمت كما هو مطلوب فى المكان . شركة عزل فوم بخميس مشيط
العزل الحرارى يساعد فى حماية الاسطح من التعرض الى ارتفاع فى درجة الحرارة وتسربها عبر الجدران فى فصل الصيف بالاضافة الى التعرض الى التصدعات وعوامل المناخية المختلفة التى تتعرض الية فى فصل الصيف نتيجة لشدة الحرارة التى تظهر التشوهات فى المبانى ، بالاضافة الى ان لدينا خدمات العزل المائى من خلال الاعتماد على خدمات العزل المائية التى تتم من خلال افضل خدمات متواجدة والتى تسعى الى تحقيق افضل مستوى من الخدمة والعزل بالفوم ايضا من اهم الطرق الحديثة التى استخدامت فى العديد من الدول الاوربية لانه يساعد فى حماية المبنى من التعرض الى الحرارة المرتفعه او التعرض الى التسربات للمياة والحفاظ على المبنى من اى مشاكل وعوامل مناخية ، فاعمال العزل للفوم اختصار لكل طرق العزل والتى تساعد فى الحفاظ على المبنى .
كشف تسربات المياه
كشف تسربات المياه بخميس مشيط
تسربات المياه مشكلة تؤدى الى التعرض الى عدد من المشكلات الاخرى ، فالاهمال فى تسربات المياه يؤدى الى التعرض الى الكثير من المشكلات التى نحن فى غنى عنة فاذا تعرض الى التسربات وتعرضت الى ظهور عدد من المشكلات الاخرى مثل سقوط الدهانات والتعرض الى مشاكل الرطوبة فعليك ان تتواصل وتتعاقد مع شركة قمم التميز المخصصه فى اعمال الكشف عن تسربات المياه

At January 2, 2018 at 4:24 AM, Blogger thu huong said...

thank you for sharingstate of decay 2 release

At October 1, 2018 at 12:39 AM, Blogger Unknown said...

jio offers
Jio Recharge Offers

jio Recharge

jio Monthly Recharge Offers



At October 8, 2018 at 11:14 PM, Blogger Unknown said...

Definitely a great post. Hats off to you! The information that you have provided is very helpful. balakqq

At December 26, 2018 at 2:14 AM, Blogger kinemasterpc said...

KineMaster apk
KineMaster apk download
KineMaster for pc
KineMaster for mac
KineMaster for ios
KineMaster pro apk
KineMaster pro for pc
KineMaster for windows phone
KineMaster for android
KineMaster pro
KineMaster without watermark
KineMaster for pc download

At May 21, 2019 at 10:03 AM, Blogger Lucy Haynes said...

This why the market of land and property in India is viewed as progressively adaptable and is helping India a lot in drawing in enormous outside ventures from everywhere throughout the world. Another explanation behind the land and property showcase India to flourish so rapidly is the simple accessibility of home loan credits and business amicable conditions by the banks offering advances and on an exceptionally low financing cost giving a lift to the property advertise. madinat jumeirah living meraas


Post a Comment

Back to BizOpinion main page

: See newer blog items : : See older blog items :

BizOpinion site feed

wisbusiness.com Social News

Follow Us

Site Sponsors


· January 2009
· February 2009
· March 2009
· April 2009
· May 2009
· June 2009
· July 2009
· August 2009
· September 2009
· October 2009
· November 2009
· December 2009
· January 2010
· February 2010
· March 2010
· April 2010
· May 2010
· June 2010
· July 2010
· August 2010
· September 2010
· October 2010
· November 2010
· December 2010
· January 2011
· February 2011
· March 2011
· April 2011
· May 2011
· June 2011
· July 2011
· August 2011
· September 2011
· October 2011
· November 2011
· December 2011
· January 2012
· February 2012
· March 2012
· April 2012
· May 2012
· June 2012
· July 2012
· August 2012
· September 2012
· October 2012
· November 2012
· December 2012
· January 2013
· February 2013
· March 2013
· April 2013
· May 2013
· June 2013
· July 2013
· August 2013
· September 2013
· October 2013
· November 2013
· December 2013
· January 2014
· February 2014
· March 2014
· April 2014
· May 2014
· June 2014
· July 2014
· August 2014
· September 2014
· October 2014
· November 2014
· December 2014
· January 2015
· February 2015
· March 2015
· April 2015
· May 2015
· June 2015
· July 2015
· August 2015
· September 2015
· October 2015
· November 2015
· December 2015
· January 2016
· February 2016
· March 2016
· April 2016
· May 2016
· July 2016
· August 2016
· October 2016
· December 2016
Copyright ©2013 WisBusiness.com All rights reserved. | WisOpinion.com | WisPolitics.com  |  Website development by wisnet.com LLC  | Website design by Makin’ Hey Communications