Bernie Madoff...Why he did what he did

[nutmeg]

Quote from MandelbrotSet:

Here's a link a friend sent me:

The Mind of a Sociopath

It details Bernie Madoff's ability to con just about anyone out of their money (an uncanny ability to read people's wants, needs and desires) combined with a total lack of empathy appears to be what made'em tick.

Ehh..I dont buy it. Lack of empathy is after the fact. People do not care about many things and wake up one day and say hey, I think I'll do this because it doesn't bother me. Empathy may make someone stop but not start.

I think the author is all over the place with back up on autism and neurons and theories to put something on paper.

Of course I'm no expert but I'll be on the lookout for something more substantial, to make my point.

 

[nutmeg]

If there's any single attribute that separates Madoff from the average Wall Street thief, I'd suggest that it's his extraordinary ability to read what others think and desire, and especially to know what will give them the greatest satisfaction. (In technical jargon, this ability to read another's thoughts is referred to as Theory of Mind).

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The continued success of a Ponzi is people thinking and believing others are making money. Other people have made a lot of money is most persuasive sales pitch (not Bernie the mind reader). This is critical. Bernie probably didn't have to do any selling (mindreading) based on the facts he turned people down.