I recently finished "No One Would Listen" by Harry Markopolos who was a whistleblower who spent YEARS and resigned from his other jobs trying to alert the SEC a

I recently finished "No One Would Listen" by Harry Markopolos who was a whistleblower who spent YEARS and resigned from his other jobs trying to alert the SEC about Bernie. It was pretty outrageous how the SEC passed the buck around interoffice like a hot potato literally sending the investigation to and from the DC to NYC office and back again. It's a great read although Markopolos comes off as somewhat (deservedly) self-rightous: https://en.wikipedia.org/wiki/No_One_Would_Listen https://en.wikipedia.org/wiki/No_One_Would_Listen As for the "how does it happen" root cause of the fraud, in my perspective it's a bit like trickle truth. They start with one small lie - maybe keeping two sets of books, and get away with it for five years. Hey, that wasn't so bad, let's open a few shell companies for our shell companies and offshore some funds to get out of taxes. Wow, we got away from that, let's do a capital call and double it. Then they start doubling down and because it's easy money they spend it on lavish things, need more income to offset loses. Like you mentioned- turns into a vicious cycle. https://en.wikipedia.org/wiki/No_One_Would_Listen https://en.wikipedia.org/wiki/No_One_Would_Listen