Vanity Fair has a detailed article on Marc Dreier. It’s
TLDR fascinating. The magazine has a great quote from Dreier explaining how his life felt after he got divorced and split from his longtime business partner:
All this sent Dreier into an emotional tailspin. “I was very distraught,” he says. “I was very disappointed in my life. I felt my career and my marriage were over. I was 52 and [I felt] maybe life was passing me by…. I felt like I was a failure.” His feelings of despair were deepened by his keen, lifelong sense of entitlement, a hard-core belief that he was destined to achieve great things.
Dreier felt that way at 52. How many young lawyers feel that way at 25, after getting laid off early in their career or no offered entirely? Of course, some people rebound from that feeling with renewed motivation. Dreier used the emotion to underpin criminal activity. Our friends at Dealbreaker get into Dreier’s head this way:
It’d be enough to send anyone to a place where the next logical thing to do would be impersonate hedge fund managers and stage fake conference calls! And honestly, not to insult anyone here, but do you know how easy it is to scam these hedgie guys? Like crazy easy. It almost seems like the crime would be to not scam them, if you think about it.
If you don’t have the time to get through the whole VF article, check out the highlights on Dealbreaker.
Marc Dreier’s Crime of Destiny [Vanity Fair]
Marc Dreier Got Into The Ponzi Biz To Fulfill His Destiny For Greatness, To Fill A Void, And To Buy A Beach House [Dealbreaker]