Weekend Dealbreaker: The Owner's Name is on the Door

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In an era of faceless organizations owned by other equally faceless organizations, Bernard L. Madoff Investment Securities LLC harks back to an earlier era in the financial world: The owner's name is on the door. Clients know that Bernard Madoff has a personal interest in maintaining the unblemished record of value, fair-dealing, and high ethical standards that has always been the firm's hallmark.

It occurs to me that this is a subtle version of "the last round problem." Of what reputational value is the owner's name when the owner is in his 70s and beginning to contemplate the beginning of the end?

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