Bernie Madoff Character Analysis

The difference between Markopolos and Renaissance, however, is that Renaissance trusted the system. Madoff was part of one of the most heavily regulated sectors in the entire financial market. If he was really just making things up, wouldn’t one of the many government watchdogs have caught him already? As Nat Simons, the Renaissance executive, said later, “You just assume that someone was paying attention.”

What sets the Holy Fool apart is a different sense of the possibility of deception. In real life, Tim Levine reminds us, lies are rare. And those lies that are told are told by a very small subset of people. That’s why it doesn’t matter so much that we are terrible at detecting lies in real life. Under the circumstances, in fact, defaulting to truth makes logical sense. If the person behind the counter at the coffee shop says your total with tax is $6.74, you can do the math yourself to double-check their calculations, holding up the line and wasting thirty seconds of your time. Or you can simply assume the salesperson is telling you the truth, because on balance most people do tell the truth.

If they came for him, he concluded, his only hope would be to hold them off as long as possible, until he could get help. He loaded up a twelve-gauge shotgun and added six more rounds to the stock. He hung a bandolier of twenty extra rounds on his gun cabinet. Then he dug out his gas mask from his army days. What if they came in using tear gas? He sat at home, guns at the ready—while the rest of us calmly went about our business.

The difference between Markopolos and Renaissance, however, is that Renaissance trusted the system. Madoff was part of one of the most heavily regulated sectors in the entire financial market. If he was really just making things up, wouldn’t one of the many government watchdogs have caught him already? As Nat Simons, the Renaissance executive, said later, “You just assume that someone was paying attention.”

What sets the Holy Fool apart is a different sense of the possibility of deception. In real life, Tim Levine reminds us, lies are rare. And those lies that are told are told by a very small subset of people. That’s why it doesn’t matter so much that we are terrible at detecting lies in real life. Under the circumstances, in fact, defaulting to truth makes logical sense. If the person behind the counter at the coffee shop says your total with tax is $6.74, you can do the math yourself to double-check their calculations, holding up the line and wasting thirty seconds of your time. Or you can simply assume the salesperson is telling you the truth, because on balance most people do tell the truth.

If they came for him, he concluded, his only hope would be to hold them off as long as possible, until he could get help. He loaded up a twelve-gauge shotgun and added six more rounds to the stock. He hung a bandolier of twenty extra rounds on his gun cabinet. Then he dug out his gas mask from his army days. What if they came in using tear gas? He sat at home, guns at the ready—while the rest of us calmly went about our business.