A Fool and His Money Are Soon Parted (Because) There's a Sucker Born Every MinuteJune 16, 2009 Ever since Bernie Madoff ceased being the Philanthropic Saint and became Bernie Made-off-With-My-Money, I’ve been thinking about why so many of us gleefully race…to be conned. There are, of course, many reasons for our eager plunge into stupidity. Arguably, the most obvious was immortalized by Willie Sutton who, when asked, Why do you rob banks?, succinctly replied, Because that’s where the money is (stupid). Why do we plunge into scams? Because we think that’s where the money is. But sometimes “money” isn’t money. Our friend Mr. Made-Off added a deliciously malicious ingredient to his particular stew: snobbery. He made taking your money a privilege given only (supposedly) to a favored few. His genius was creating the illusion that because he allowed you to “invest” with him you had become a member of an exquisitely elite club. What’s particularly interesting in the Madoff case is the great majority of those who ended up scammed and damned were already very rich and well connected. Why, then, were they still so eager to join Bernie’s Insider clique? Oh, dear…there’s always someone who has more money, more status, more influence...So Bernie’s club came to be seen... <!--more--> by those to whom it mattered, as the most exclusive of clubs because access was limited by the steel gates of Bernie’s scrutiny and Bernie was above needing any more money or status. So acceptance by Bernie became the you-can’t-buy-it platinum-sign that you were In. (It’s a wry observation that they were, in fact, buying their membership). Speaking of invitations to buy your way in…several days ago I received a phone call from a man who said he was the Editor in Chief of Premiere International Who’s Who, a registry of outstanding professionals. Many thousands of people have been honored by being selected for Inclusion in this most selective Who’s Who he said, and he was calling just to do some final checking to be sure I qualified. If I did, and he was already almost certain that I would, I would be featured on their website which would be a great honor as well as a cool marketing opportunity. He told me their preliminary investigation had already started and included sending letters of inquiry to many people who know me through work. (How could he know who they were?). The letters they received back, he went on, strongly convinced him that I was not just a candidate; I was an ideal candidate. Some of the letters, he said, were up to three pages long and filled with praise. In addition, he continued, many who wrote asked how they could contact me. (That’s strange. On my website, of course. Everyone has a web site now). I started out pretty skeptical. But - he went on to say in the letters many people described me as very passionate about my work. Bingo! That’s true! It’s so right that it momentarily deflected my skepticism. (Only later did I realize lots of people would say, “That’s me!”)!! The conversation was very flattering and he was extremely charming - until he started asking questions he should have known the answers to, if there had been any initial checking. What is your web site?, he asked, what are the titles of your books?…stuff like that. My skepticism returned. Now came the part the skeptic (me) had been waiting for: it started with a description of the elaborate wood and brass Plaque of Recognition from Premiere International Who’s Who which I would receive which was perfect to display. I didn’t have the opportunity to express my underwhelming gratitude as he was in full voice, racing toward the goal. He was certain, certain my status was so elevated that I would be accepted into the very highest of their ranks: The Platinum Program. My achievements – (about which he clearly knew nothing) - had earned this highest of statuses which only cost $899 and was good for a lifetime. My silence was loud. (The real Who’s Who never charges for an entry). After a minute or two passed with no response from me, he suggested the Gold Program at $599 for five years…a two year program for $299…a one year program for $99. Silence. I broke the silence and said How about you send me one of those letters you got about me. He replied, I can’t do that for people who aren’t members! Well, I said, I’m going to go up on your website. What is it? www.prwwr.com he answered. And you better hurry. I have to have an answer today. We’re going to press! It’s amazing, I thought, nothing stops him. He’s like the Eveready Bunny…still trying to get me to buy a phony ticket to some make-believe status. I did Google the website and it opened with a welcome and an invitation to join an exclusive membership organization of luminaries like you who have been accepted and registered as one of the top leaders in their field. But immediately following Premiere International’s own site, there were gazillion blogs. I waded through 71 pages of them until I thought I had a good sample of people’s experiences. The largest group of bloggers were people who smelled a con and didn’t join and the second, smaller group were people who joined but then changed their minds, convinced they had been scammed. The following pages are quotes from the blogs cited in the footnote below. Skeptical People Who Didn’t Join Has anybody heard of Premiere Who’s Who Registries? I just got an email from it stating: you have been selected to represent your state within your profession…(I am) suspicious …as the site they selected me from is absolute cr@p. my old GDI site, which I haven’t touched for months and is definitely not a professional image! I just got a letter inviting me into the Cambridge Who’s Who today. Of course, at first, I was downright giddy. Then I started talking to people to see who might have submitted my name. No one in my office. Talked to a friend of mine, he suggested I look online. Here I peek, and look what I find! (I) just want to add to the anecdotes about Cambridge…I received an invitation to join the Who’s Who Executive and Professional Women’s ‘Honor Edition’ of the registry today. I have my talents, but I am neither an Executive or a Professional. I am, in fact, a stay-at-home mom to 3 small children. The last paying job I had was that of Middle School English teacher in 1999…I regret I will have to decline the invitation of ‘M. Foster, Editor and Chief’ to join this august body. But I received my letter from the Editor in Chief, on behalf of the Managing Director! Thank you for the confirmation of my suspicions, although I remain convinced I am a very important person. Being that I am not a Doctor, Lawyer or Indian Chief, and I have changed professions A LOT- the letter from Cambridge smelled very much like a dead fish… I just got off the phone with the kind gentleman at Biltmore Who’s Who. Experienced the same interview about my career with the final ‘Congrats!’, and lead in to the sales pitch…As a former door-to-door sales rep for Southwestern Book Company, I recognized all the Zig Zigler type pump ‘em up and go for the close sales techniques from the start… I can’t thank you enough for posting information about Cambridge Who’s Who. As sucked into that heady feeling of (self) importance that I most certainly felt, I decided to Google who they were first. Again, thank you for saving me from myself and most importantly, Cambridge Who’s Who! I was scammed by them. They charged me a hefty amount last year promising me all this nonsense (that they would be sending me a grand book with tons of contacts with emails and phone numbers in my profession – that they had thousands and thousands of contacts from all types of industries). I paid the $800 platinum bill. Then to make it worse they called me about 6 months later asking me for another $400 because they had to print something and some other nonsense…but then they called me again 3 weeks ago for some lifetime bullshit and that this would be the last charge. I told the kid on the other line to send me the book. 3 weeks later I have not heard from them. I have started to do research on this company and to my surprise…wow look what I found. Others discussing how they think MWW is conducting fraudulent activity. This posting really made me laugh and shake my head…in embarrassment. Why? Well, when I was a cocky teen girl who thought she was the greatest up-and-coming-poet in the universe, I was solicited by a Who’s Who of Young Poets (or some such gobbly-goo). Of course, I believed every lie. I was awesome, after all, and I couldn’t wait to see my breakthrough poem…’Oh Goddamned, Blessed Rain,’ read by millions. In the end my poem was never published…my parents put the brake on, especially when the requests for copious money came flooding in. …unfortunately I joined: It was a bad decision, thought it would be good for my company to network. It was $600 for that junior membership and $289 for the book. I’m gonna try and cancel that order…There’s no one really in their network…just people like me who are gullible and can’t stand up for themselves. I am terribly embarrassed…I received a call about two years ago about being published in their book, and all of my ‘recognition’ and ‘accomplishments’ as a professional…blah, blah, blah…I gave them my credit card for $100 or so…Last week I got a call and (the woman) proceeded to tell me how fortunate I was to have been one of the 1% chosen to receive a VIP membership. OH BOY!!!!!!!! I get my picture and accomplishments, etc posted on a full ½ page of their book. Blah, blah, blah. I was excited as I am an upcoming professional in my area, and thought this was a great experience to get my name out!!!...I was scammed for $619.34. Feeling Good About Your Self Is Short-Lived People who join these Non-Marquis Who’s Who – (Marquis is the legitimate Who’s Who company) – ultimately learn they have been scammed because they don’t get what they paid for. One blogger wrote,
Another blogger wrote, Basically, it’s a boiler room…(I did work for the company for five days)…It is a total scam. They would sell this “distinguished honor” to anyone. It is a vanity sale. The members are not researched, they are just randomly called – and the pitch or script that is read entices people to pay exuberant amounts of money for basically nothing; regardless of their accomplishments, education or vocation. What can we learn from this brief exploration of one particular kind of scam? People who are unlikely to be taken in combine healthy skepticism and a realistic view of their accomplishments. While they enjoyed the flattery and invitation to be In a very elite club, they have the safeguard of really knowing themselves and being comfortable with who they are. Those qualities, combined with a mocking sense of humor about the human frailties of vanity protected these people from being dazzled, losing their mooring and becoming prey. In other words, the people who are not likely to fall for flattery are not desperate for it. Factually, some of those people were simply not into an ambitious achieving lifestyle when they were contacted. As a result, they found the whole invitation scene pretty funny. Others were protected by their sense of caution. They refused to be hurried or pinned down and insisted on time to think and research the company. And some people were protected from flattery simply because they were loath to open their wallets. To all, I say, good job! The people who joined were dying to be recognized and thrilled to be invited. The clincher for them was entrance into the Platinum or VIP or Honor Registry. These people are seriously hungry for affirmation which makes them vulnerable to any come-on that promises to elevate them to an elite status. Who, then, is a sucker? A sucker is someone who wants something so badly that they lose all critical judgment. It is likely that members of this group tend to have an inflated, unrealistic sense of their accomplishments and feel strongly that recognition of their abilities and achievements is overdue. But paradoxically people whose self evaluation is inappropriate and unrealistically high are usually not confident. At the same time they insist on being recognized they are very afraid they will be revealed as fakers or imposters. In other words, while their sense of self is exaggerated, their need for others to affirm it makes them very susceptible to flattery. The group made up of newer professionals mostly hoped that being included in an Elite Group would increase their image, their credentials, and therefore, their ability to network successfully. Those people paid lots of money to join the highest levels of the club - and have boasting rights. Since they assumed they would get what they paid for, they paid a lot. They wanted to be able to show people The Registry book with their name in it, and have a big plaque announcing their special success and Inclusion among the elite up on their wall. Most of these people were just starting out and were simply trying to become successful. Sadly, they are the people most likely to list their membership in a Registry on their resume – an “achievement” very likely to boomerang. How poignant that is…
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Judith M. Bardwick
Judith M. Bardwick, Ph.D., is a highly regarded writer, speaker, and management consultant specializing in the psychology of the corporate environment. Read more ...
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Just got off the phone with a
Just got off the phone with a representative of the group. Big red flag went up as soon they began talking about "my professional expertise". They didn't know me, nor had I heard of them. I asked what all this great accolades were going to cost me, when I was told, I politely said have a blessed day, and hung up.
Beware of flattery.
Rev Al Carlisle
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