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There are a few ways to describe Bernie Madoff, alleged perpetrator of the largest Ponzi scheme in history. One of them is as a particularly outsized and successful confidence man. OTM producer Jamie York looks at the long American tradition of being fascinated, entertained and fleeced by con men again and again.
Good job! Great piece! It is a great commentary across the broad spectrum of human interaction: economics, politics, sociology, psychology, philosophy, religion . . . .
Your broadcast said that transcrips are available. I cannot find a link to ask for such. Can you help me?
It is important to understand that the confidence man is a sociopath. The sociopath operates from a place of total self interest with nary a glimmer of empathy for his victims or any remorse when caught. In fact, from the inner world perspective of the sociopath they truly believe they have done nothing wrong; that they are blameless.
Sociopaths are frequently charming, engaging, witty and exude something that just makes their victims - like Madoff's - want to believe them. It is often said of the sociopath that they could be the bank robber - or the bank president.
For some time now we have had an economy and government led by sociopaths. Like the individual victim who too late discovers his property looted and his faith destroyed, so, too our nation and the world is left trying to unscramble what has been done. This is why we need strict federal and state oversight of business to protect us from the the destructive guiles of the sociopath.
It is also why we need a fearless press. Your story on the loss of The Rocky Mountain News and the stories that will now never see light should give everyone pause as to who will keep the sociopaths at bay.
M. Taylor
Genoa, WI
Interesting commentary on the state of Florida at about 14:41 minutes into this audio clip.
The quote describing Floridians in the following matter is interesting:
"Economically Florida does hold a kind of funhouse mirror to the country and shows us something true about ourselves. We live on debt, we don't think in the long term, we imagine wealth can be created by simple transactions that don't actually require a whole lot of work, we don't want the government involved in our economic affairs, we don't want to pay taxes to support the services we expect and those are qualities that are on full display in Florida." George Packar from NPR’s “On The Media” on March 8, 2009.
In regard to the last point concerning people not wanting to pay taxes for service they expect in Florida, you can see this today, especially when you view the outside of local county tax collector ( http://www.osceolataxcollector.com/locations-hours.html ) buildings in Florida. As you can see, the idea of paying taxes is so "in your face" in Florida that it is probably a political ploy by those conservatives in power there who want to gain animosity from the public against taxes so they gain votes in upcoming elections and maintain their power. Whereas, you compare the naming of these institutions in the Midwest and these same institutions that collect taxes and provide services to the public are named anything but "Tax Collector," but instead names like "Government Center" for the services they provide beyond just collecting taxes. The Midwestern states don't flaunt that taxes are collected at their institutions by plastering on the outside of their buildings and naming them accordingly. Instead, the closest they come to doing so falls under the name like assessor or property tax collector for a specific office, not for labeling the whole building.
For those looking for another type of economy to pursue in the USA and elsewhere, visit Steady State Economy at http://www.steadystate.org/
Fantastic story. Thank you!! My parents and sister were ripped off by a sociopath recently with a "long con" (just learned that term here!) and I have been trying to understand this human phenomenon more. The book "Sociopath Next Door" by Martha Stout was also very helpful. I loved the commentary about Mamet and other artists who portray con jobs in their work.
Another fine piece. Just a couple of observations to add:
Although the presenter noted that flipping-houses bears all the hallmarks of a confidence scheme -- i.e. that buying a dud is fine as long as there is a mark to who to sell it for more -- he did not note that the purchase of any stock that doesn't pay a dividend is based on exactly the same principle. You only make money on those stocks by pawning them off on a "bigger sucker." (I first heard of the "bigger sucker" theory of stocks from my Buisiness Law professor who spoke of it approvingly. That was two bubbles ago.)
And maybe I gave the segment too much thought -- that happens when I'm driving alone -- but I thought that Public Radio was the perfect place for that piece. The whole housing/stock/finance scheme transpired because America turned into a perversion of Lake Woebegon -- Everyone was a trader and every trader believed he was above average.
Keep up the great, etc.
-- MrJM
Having just watched the most wonderful version of Oliver Twist on PBS, I don’t think there’s anything quintessentially American about the con man (or woman). They are called “artists” for good reason. I don’t know about David Mauer, but Charles Dickens would agree with you: The heart of the matter concerns cons going after each other; the way love sometimes transforms greed – this where the story gets interesting; and, the con “never really goes away,” as the screen fades on the young Artful Dodger . . .
Wonderful story on the con-man! Only three words were missing: the modern trickster. Lewis Hyde's _Trickster Makes This World_ makes the point that he's (Hemmingway's specifically) is the closest thing we've got to a modern analog to Loki, Coyote, and others.
The Confidence Man is a masterpiece.Love your show--never miss it.(How can NPR possibly not be getting enough money? What's wrong with this picture?
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