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| Bernie Madoff |
Whe lives it in money? Not a good salary or a considerable fortune, but in an environment where the billions are simply there, like mountains in the Alps. How is it, when that material, the nachhechelt the rest of humanity so well, your life wrapped gently? He makes life easier? He changed the handling, care for the other one? And look what you have on the world, when viewed from behind a curtain gently rippling liquidity?
That the upper percent, the rich among the rich, just so busy that world politics and the public imagination, we know very little of it. We urgently need to learn something about them, not least to avoid a mess for years as the repeated undermining our world crisis.
In the United States just a book is published, which can be read as a social history of Wall Street's elite. It has written a young woman who once had the good fortune to data-the most coveted man in Manhattan, he later married and had two children with him. Through marriage with the ten years older, divorced, Mark, who worked in his father's company, she was part of the finest and most respected clans of all the money world, that family, their good name and the well so admired company had given: Madoff Securities .
Keep your million!
The book itself is not great literature, and has no scoop to offer, but in his rage and his precision, it's the book of the hour. Because the mechanisms by which Madoff undermined the lives of his family until everything collapsed, similar to those which threaten the big financial houses in their wonderful costumes now bustle and life of nations and societies. The title fits perfectly with our presence: "The End of Normal."
In this respect, Stephanie Mack Madoff a wonderful resource: they pursued a radical agenda, and had for her father, who was also the employer of her husband, left nothing but admiration. It was created by Bernie and his wife, Ruth, quickly recognized as a full member of the family and recorded it with everything. And with the money to Madoff's always belonged, that was the family business: making money from more money. So one fine day was Stephanie's beloved stepfather, Marty received from Bernie Madoff, an appointment had to wait months, even the biggest names in Hollywood, because when he was granted at all. Marty wanted to invest his money with Madoff, but there was an embarrassing problem: He had only one million. As is so often rejected Madoff - the fund is already closed, but could then be a way: "I do everything for my mishpocheh" This transfer of the father of the bride of his savings to the King Midas of Wall Street and had a good feeling.
Buy the whole store!
Marty had been a famous lawyer, is described in the book as a clever mind as deliberative and contemporary. There were no super returns with Madoff Securities, with hot levers, but a family-friendly, consistent value system that brought beautiful reliably between eight and twelve percent. Today we know that Marty's one million went directly to the checkout, where it was alleged as a return on investments made in truth never paid to older investors. It was all very simple, that's why Madoff had to be very complicated. Never allowed someone to take notes, he never gave information about his investment strategy. If investors wanted to have something in writing, he did look up, what papers he would need to buy time in which to come around to the desired payment - speculate reverse is also much less stressful.
Stephanie describes life with Madoff, as we know from romantic comedies: shimmering all around the world shines through a filter made of gold. There is a spectacular generosity: Does Bernie's daughter in a shop, he goes directly to the checkout and deposited his credit card with the greeting: "What touches them is bought!" At the feasts of the company are all children of all employees loaded, then moves ever in front of the truck a toy department store, and all must help yourself. There was no vulgar extravagance like Trump and Co., but an elite family and emphasizes. Were maintained relations with the Jewish community in particular, to Elie Wiesel Foundation For example, although can not see any sign of special piety Stephanie to Bernie. From time to crave Stephanie and Mark for good air from the sea, so they buy a home in Nantucket, or fly to the Caribbean island of St. Barths. So they have then, with the loft in Manhattan and the house in Connecticut, four residences, which is in the family not to be excessive, more like the maintenance of a garden plot.
Suspect was really only one thing: All that money was not hard to earn. Bernie and his wife ended each workday in the afternoon to go to the movies together. Stephanie's husband was seldom at home later than five and no longer cared about the courses or the shops. While he was up early every day to read the papers and articles to send to friends, but what were then in their mailbox, were theater reviews or restaurant recommendations. It was not sweating and not cursed, but issued by private treaty, soon the Madoff were considered the smartest on Wall Street and role models in their lives, family and sports were the priority, not coke and call girls.
Dream a Little Sweet!
Before the collapse of the fraud, the family turned largely to themselves, small and nasty conflicts between first and second wife, strange influence of takeovers law, things like that. To discuss those professionals were hired. In general for all cases and questions of life outside consultants were used - except of course when it comes to the business of the company went for then would be directly the police arrived. A nursery should be established, which begins with a team meeting at which participated a half dozen people from the interior decorator to the painter. Are there any dispute with ex-wife, the therapists and mediators are set in motion. Child psychologist, analyst, family therapist - this is the triad, which overlooks the family life even in details, such as when the choice is made, which should get the kids to Hanukkah. Among them are joined by coaches, doctors, lawyers and various house staff, there are several teams that are supposed to guarantee the ease of life.
And then that was it. The sons became suspicious because the father is absent and suddenly wants to pay $ 140 million in bonuses. This confirms a conjecture apparently, they may have for months: Bernie is sick, has little time left.
Like everyone else, they were wrong, the truth was both unimaginable and simple. Bernie had the money in front of the simplest questions screened. Apparently, the sons, both of which almost twenty years were not in the criminal branch of the firm, the father who never asked how he achieved his steady returns. Bernie was a knowing smile as a mask duration. Only once wrote, Stephanie, had noticed her as he threatened to lose her composure. It was on the evening of their wedding. Bernie sat apart on a chair, looked at the floor and smiled dreamily. In a fit of exuberance, the bride went to him and urged him to some dance moves. Maybe it was what derailed his face into a panicky grimace, perhaps it was the song they played "Sweet Dreams Are Made of This".
When the dream had burst, took over the lawyers and PR consultants, the life of Stephanie and Mark Madoff. Her husband survived the stress, the shame, he took his own life. One of the striking features of the author that it does not explain this fact, but strongly condemned. As Bernie's sons, had also left his mark four children in fear and terror. When she delivers the news of his suicide, she thinks: I'll never forgive yourself. Stephanie wrote her father a letter in jail. She tries to come to him morally, to hurt him and move to bitter self-knowledge. And fails. Like any large Madoff fraud is a narcissist with sadistic traits. He is pleased to announce that he treated her will rejoice in perfect health, in prison, with respect, and generally had good things.
Anesthetized with Cash
Thus, these memoirs have become a book emancipation, the story of an involuntary, dramatic departure from a screened family and their money. They can not illuminate how Madoff has taken exactly this is still not well known. It also remains open to question whether he had been convicted, if he had not confessed. For the difference between Madoff's firm and his colleagues at Bear Stearns or Lehman Brothers was minimal. In the houses that have gone under legal papers were given to customers for their money - titles whose worthlessness was known to the dealers. When they got for their money Madoff same counter value, that is nothing but paper.
Fraud or bankruptcy, it was a question of dates. And of course, was never allowed to ask someone questions. Only because all the money flowed, and not only the family and staff, including the middlemen, the buyer investors and advertisers were also anesthetized with cash and euphoric. And because all suspected that Madoff did not act entirely legal, but these tricks and they only benefited them, they cared for even more investors, like the brave Stephanie, who anschleppte her stepfather.
At the end stands for the whole family of cold withdrawal of money and the generalized theory that the normal was the perverts.
