Chapter 139: Madoff

[Chapter 139: Madoff]

The next evening, Ian took Shawna to a mansion in the outskirts of New York City. This was Giuliani's home away from the city. As Ian knew, this was yet another extravagant affair within the upper echelons of American society; for the past little while, his time had mostly been spent dining and attending various events. Of course, this also meant he gathered quite a bit of information.

Although as a guest he could not bring a camera or a listening device inside, he thought he could sneak them in later. With mischievous thoughts spinning in his mind, he maintained a confident and amicable smile.

It was still the usual pleasantries: "Good to see you, sir," "It's an honor to meet you," "I admire your business," and "Your work in Dallas is fantastic." Though these comments might have seemed insincere, they proved effective. To most people, Ian appeared to be a humble and polite young man. 

When faced with those on the lower rungs, Ian maintained a solemn demeanor; with gangsters, he was ruthless; with Gaskill and his mother, he embraced the genius of accepting advice; with Lena, Shawna, Jessica, and others, he was a warm-hearted, assertive man; and when in the company of powerful figures, he transformed into a modest and affable young businessperson. This multifaceted nature was a guarantee of his success.

...

At this moment, Ian was mingling and smiling when Giuliani waved him over, saying, "Hey, Carr, come over here."

Ian approached, replying, "Just call me Ian, Mr. Giuliani."

"Then you should call me Rudy," the mayor smiled.

"It's an honor, Rudy."

Giuliani pointed to an elderly gentleman beside him, saying, "I want to introduce you to Bernard Madoff."

Ian paused and looked at the elderly man with graying hair and a kindly demeanor. "Mr. Bernard Madoff?"

The old man nodded with a smile, "Yes, that's me. I see you know who I am."

Ian certainly did. He was well aware of Madoff's notoriety as a Wall Street legend and the central figure in one of the most infamous fraud cases in Wall Street history! This guy had been the chairman of NASDAQ, before venturing into running an investment and securities company, managing a hedge fund that lured investors with substantial returns, ultimately deceiving countless investors.

Unlike in a previous lifetime, in this timeline, Madoff wasn't only involved in securities investments; he also had interests in other industries. He owned a reputable investment firm in addition to Madoff Securities.

Ian shook his head gently. "Former chairman of NASDAQ, a highly respected brokerage from Wall Street, a well-renowned philanthropist... Your reputation is recognized worldwide, but not right now. In the future, your fame will exceed what it is now."

Madoff smiled, "Thank you for your support."

In his mind, Ian's statement meant Madoff's business was destined for even greater glory. But it was clear he didn't understand the media or Ian himself. The best way to gain notoriety in the media was always through scandal!

Even though Ian knew Madoff was a schemer, he maintained a friendly demeanor. The great mentor Gaskill had once said: no matter how much you dislike someone, don't show it. You can keep your distance, use him, or even backstab him, but don't let him catch on or be wary of you!

And even if Madoff was a con artist, one had to concede one thing: Madoff was the elite among con artists. His accomplishments weren't fabricated, nor were his extensive financial knowledge and his enormous influence and connections.

Thus, Ian had no real need to offend this guy. They were engaging in light conversation, offering each other business flattery. Ian praised Giuliani for his effective governance and saving victims; Giuliani praised Madoff as everyone's financial benefactor; and Madoff flattered Ian as a promising young hero and business genius, especially regarding his short selling in the Italian lira.

If one observes the interactions between people, their praises and criticisms tell a lot. Ian praised Giuliani because he sought political protection; Giuliani praised Madoff mostly because he had investments in Madoff's investment firm and needed him for high returns; and Madoff praised Ian...

It was obvious he wanted Ian to entrust him with his dollars.

Ian certainly wouldn't hand over any money, but not due to Madoff being a fraud. After all, this guy wouldn't be in trouble until 2008, which meant there was plenty of time to recover one's assets before then -- business was often this interesting; sometimes, even if you knew you might be entering a Ponzi scheme, you still invested because you were confident you wouldn't be left holding the bag.

Many businessmen who fell victim to scams weren't ignorant of the issues; rather, they were confident that they could reap the benefits without taking risks.

So, Ian's reason for not investing wasn't inherently because Madoff was a criminal, but because he believed his money was better utilized in his own hands.

Thus, he directly stated, "I'm sorry, Mr. Madoff. I believe Madoff Securities is a good company, but I have faith that I can utilize money more effectively than your interest rates would provide."

Madoff shook his head slightly. "I understand that, but you need to learn how to leverage funds. The money for your business can be tapped from bank loans, whereas my returns will surpass what the banks offer you."

In essence, this meant borrowing from the bank to give to Madoff? If he could secure more from the bank, that cash would be for his own use -- he had plenty of projects ready for investment.

Ian casually remarked, "I'm good friends with a banker; he'll handle those matters for me."

Madoff dismissed this with a shrug. "Oh, you mean that guy Bronte? He's not equipped; it's not that I look down on him, but his perspective is constrained by California. He's bound to stagnate. Perhaps you think he's useful, but that's because you haven't truly experienced the power of Wall Street. I believe in you, Ian Carr; you have immense potential, and my willingness to assist you comes from seeing that potential."

Ian felt a slight irritation. Gaskill was someone he respected deeply, yet this old fraud was disparaging him? Madoff had no clue how deeply that would strike Ian, as he was unaware of how significant their relationship was -- and to Ian, it was almost as if he had just insulted him directly.

He suppressed his anger, shaking his head gently. "I'm sorry, but I can't invest right now, though maybe in the future."

Madoff scrunched his brow. "If you're unwilling to invest, that's fine, but I plan to start a financial column. Could you help me establish a channel for it in the Times or the Herald?"

Ian stared for a moment. Now he understood completely; he wanted to leverage my name for credibility?

The media and banking lacked significant collaborative resources, often just borrowing money from banks. Yet, deceitful operations and media intertwine with enormous value:

What does a fraudster need? Fame! The greater the fame, the more victims they can ensnare.

The reason Madoff could con hundreds of billions was that he was a seasoned bigwig on Wall Street; deceiver toward deceiver -- that was the real art!

With Ian's fame and his control over two newspaper outlets, combined with his influence at CBS, backing Madoff would be detrimental.

No wonder he had designs on me for not just my money, but also for my endorsement.

Ian promptly shook his head, stating, "I can't manage CBS; I can't make that decision. As for Carr Media, we don't engage in financial inducements. It would compromise our neutrality and fairness."

He was frustrated by Madoff's earlier dismissal of Gaskill, and even more so that Madoff would taint his reputation: once Madoff's scheme collapsed, he, Carr Media Group, and CBS would all be seen as accomplices.

Even using the term "financial inducement services" suggested, "I suspect you are a fraud."

Madoff's expression shifted slightly but regained composure in an instant. "Young man, you're always too confident."

Ian responded coldly, "Maybe I'm just cautious."

Once those words left his lips, Madoff fell silent, and it was Giuliani and others nearby who sensed the undercurrents.

What was going on? Was this a breach of trust in Madoff?

*****

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