I can make it plain that just such a book did exist… Sort of. You see long before there had been a Bernie Madoff scandal, long before the prevailing eruption of ponzi investment schemes littering the papers today, long before the present TARP bailout… There had been the S&L crisis of the late 1980s. You see wherever there's cash (particularly plenty of it), there is crime (also heaps of it). It truly is a striking case of deja vu when you consider it. Here we are 20 some strange years since the 1987 stock exchange crash going through the identical stock exchange gyrations, bank implosions, and tax-payer funded bailouts.

You'd think we would have learned by this time but seemingly we haven’t. Around that time in the mid-eighties, a young man and future writer was just getting his feet in the door in the world of investment banking and particularly, bond trading. Those very same assets thought of as damaging today had really tightly related cousins which were being traded in the 1980s, and many young men were eager to make as much cash as possible doing whatever they needed to do in order to make Savings & Loans bank executives buy (and sell) them. Our future author was of no particular distinction when he became a bond trader, and honestly failed to have any form of pedigree to be in that position – and yet there he was, making a six-figure salary convincing S&L chiefs and other loaded clients buy and sell investment bonds.

You need to already be able to tell what the difficulty has been with the system, and why fraudulent schemes persist. Younger lads (and some women… But let’s face it… It’s predominantly men) are paid vast sums of cash to get you and I to make as many investment transactions as possible whether or not it is in our best interest or not. It was true in 1987 and it is true today. Each time an exchange occurs a little crumb falls off the investment wealth of you and I and falls into the pocket of some other person in the form of a commission.

You'd think somebody out among the young traders and investment executives would have enough of a conscience to apprise the public about the mechanisms of the investment world and the frauds they continue. You wish to accept that same someone would write a book… A Bernie Madoff book to keep us from making the self-same mistakes we made in 1987. As I stated in my opening, someone did write a Bernie Madoff book… Of sorts. Somebody did have enough conscience to tell all (and thus ruin his bond trading career). The name of the Bernie Madoff book circa 1987 was Liar’s Poker. The man of conscience was Michael Lewis. Perhaps Michael will write another story describing this swindle. Perhaps next time we’ll pay attention.

The article above is all about finra arbitration and finra lawyers . The writer is Tiffany Aritas.

The Bernie Madoff Book You Ought To Have Read Before Investing is a post from: WiredWriter