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Saturday, November 21, 2009 11:31 PM

Published 11/04/2009 by Information Management Magazine


Bernie Madoff's Dummy Data Center

Two years ago, Bob McMahon wondered why antiquated systems at Bernard L. Madoff Investment Services weren't replaced with more modern and efficient off-the-shelf systems.

The Madoff systems were expensive to maintain and made it difficult to grow the business by expanding into new...

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Quotes

"I asked myself how Bernie could have hidden and maintained this for so long. A lot of it was done because he had proprietary and legacy systems. And he relied on IT people he hired and paid" to not upset the status...
Bernie Madoff's Dummy Data Center [Information Management Magazine - 11/04/2009]
"I immediately recognized there was massive institutional chaos in the way the place was managed. No one found value in participating in project management meetings or in writing things down. There was no documentation" says McMahon, today...
Bernie Madoff's Dummy Data Center [Information Management Magazine - 11/04/2009]
"We did not have titles, which was definitely suspicious to me. We all knew who each other worked for, but nobody knew what the other person was doing" he said. 'Everything...
Bernie Madoff's Dummy Data Center [Information Management Magazine - 11/04/2009]

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