Bernie Madoff: The Story Behind One Of The Biggest Ponzi Scheme
Warrior Trading

A great article!

But like all crimes I want to know the motive and the “why” someone commits the crime.

I understand that Mr. Madoff made his legitimate money on the spread between the bid and asked prices of the stocks.

Until about 10 or 12 years ago it was in eighths of a dollar. Sometimes a quarter.

But when that changed to the decimal system ($1.05, $1.06,etc) he was squeezed!

He had to find another way to stay successful!

Intelligence is the ability to adapt to a new environment. He couldn’t make that mental or physical adjustment.