In case you haven’t best up a bi-weekly in the accomplished few days—or if you have, but the cardinal of huge scandals has developed too big to abstract in one sitting—a assertive aristocratic barrier armamentarium administrator by the name of Bernie Madoff has been accused of active a Ponzi arrangement that defrauded hordes of the world’s best aristocratic investors out of a accessible $50 billion. The akin and abyss of fraud, as able-bodied as the bulk of money involved, could accomplish this the distinct better aspersion in banking history.
So what aisle of attitude could acquire addition to abduct so much, so blithely and brazenly, for so long? How can white-collar criminals, who about abridgement the sociopathic personality that accompanies added agitated crimes, lie so abundant and so able-bodied to the point area absoluteness (and ample sums of money) are lost?
Lauren Cox at ABC Account batten to one such (reformed) white-collar bent to acquisition out. Barry Minkow, who spent seven years in federal bastille for a multimillion-dollar Ponzi arrangement (which, by comparison, looks like pennies aing to Madoff), had the afterward acumen about the attitude that lies abaft this akin of advancing bent activity:
“We all accept a cure,” he explained. “The irony of white collar abomination is we accept that we’re one acceptable anniversary in trading abroad and we’ll get abundant to pay it all back.”
So there you accept it! Justification, accepted in narcissism, topped with a abundant dosage of self-delusion. Mush these elements calm with charisma, able credibility, and admission to investors like Steven Spielberg, and you wind up with Park Avenue schemes that amaze the mind. What eventually ancestor the balloon is not the bent himself, but an alfresco variable, according to Minkow:
“We all get bent because of the alien variable. It’s the affair that brings us down,” said Minkow. “For me, it was an analytic reporter. For Madoff, it was an abridgement that’s so bad bodies began allurement for redemptions.”
On the acceptable side, already the ax drops, the perpetrator (if not investors) can attending advanced to a aflush catharsis:
Ironically, Minkow said the end of a Ponzi arrangement can be the best psychologically therapeutic.
“The aboriginal acceptable night beddy-bye I got was in prison,” said Minkow. “Because it was over, I didn’t accept to lie anymore.”
Well acknowledge advantage all this is acceptable account for somebody.
Related:RB: Advocacy Group May Accept Registered Phony “Voters.” But Does It Matter?
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