One of my New Year’s resolutions is to examine what money buys in the world of high finance—legitimate or otherwise. At the hedge fund named Galleon, $5,000 bought the right to tase an employee.
When executives from stun-gun maker Taser International Inc. came to make an investment pitch around 2005, Mr. Rajaratnam offered $5,000 to anyone who’d agree to be shocked. Employees gathered around as two people propped up trader Keryn Limmer at the elbows and another person fired the weapon.
See what I mean? This transaction makes me wonder what else is for sale in the work place. Any stories out there? The Galleon example, however, is Strawberry Night before a Broadway open. I’m kicking off this 2010 theme—I know it’s early—with billions.
So what does $65 billion buy?
If you’re Bernie Madoff, the answer is “street cred.” Forget all the yachts and villas around the world. Here’s what WSJ reporters reported after a recent visit to his prison:
Nobody’s harassing Madoff inside the clink. Inmates are leaving him alone, perhaps out of respect. Not one of the cons ever replicated the size and scope of his fraud.
Madoff’s untouchable status raises several questions. Is there some kind of break point when it comes to “street cred?” Is it really necessary to steal $65 billion? Do privileges accrue, inside the can, to the godfather of all Ponzi schemes?
If you’re Sir Allen Stanford, the answer is “yes.” He took a beating back in September, a broken nose and two black eyes. By comparison, his alleged Ponzi scheme totaled $8 billion—not enough to keep inmates out of his face.
The New York Times describes my novels as “money porn,” “a red-hot franchise,” and “glittery thrillers about fiscal malfeasance.” Through fiction I explore the dark side of money and the motivations of those who have it, want more, and will steamroll anybody who gets in their way.