Theodore Roosevelt clearly understood human nature and the impact that education, wealth and power can have when he said:
A man who has never gone to school may steal from a freight car; but if he has a university education, he may steal the whole railroad.
Bernie Madoff is only the latest in the financial world to have stolen - or at least tried to steal - the whole railroad. There will be more and, since the regulators will be a step behind, we should always keep in mind the old cliche: if it seems to be too good to be true, it probably is.
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About the Author
- Hugh Elliot
- Mr. Elliot is a founding partner of Collingwood Partners, LLC. He has been an independent management, mergers and acquisitions, finance, and business consultant since 1979. His clients have included government contractors, manufacturing, service, research and development, financial, professional, and banks. He specializes in assisting small and rapidly growing companies with strategic planning, financial management and the management of growth both organically and by acquisition. Mr. Elliot was born and educated in the United Kingdom. He immigrated to the United States in 1968 becoming a naturalized citizen in 1991. He graduated from the University of Cambridge (England) with a BA (Hons) in Agricultural Science and an MA in Agricultural Economics. In addition to his other responsibilities, Mr. Elliot serves as an International Judge for the sport of sailboat racing.
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