‘Confidence Game’ Author Explains Why Ponzi Schemers Love Wall Street

Wall Street famously operates on 'fear and greed,' and it’s that greed factor which makes it such a popular place for con artists and Ponzi schemers to ply their nefarious trades, said Maria Konnikova, author of The Confidence Game. 'A lot of con artists prey on our desire for greed, for things to be a little bit better than they should be and for us to get a little bit more than we actually earn because we think we deserve it,' said Konnikova. 'And Wall Street is a beautiful preying ground for those desires.' Konnikova explains how con artists hook and clean out their marks in The Confidence Game. Her previous book was titled Mastermind: How to Think Like Sherlock Holmes. TheStreet's Gregg Greenberg has details from Wall Street.