Armed with chutzpah and other people’s credit, Marc Dreier, a graduate of Yale University and Harvard Law School, hatched one ingenious scam after another and used the proceeds to maintain a lavish lifestyle, including owning a $10,000,000 apartment on Manhattan’s Upper East Side, beachfront properties in the Hamptons, a valuable art collection, several expensive cars, and an $18,000,000 yacht.
Before he began committing his crimes, Mr. Dreier earned about $400,000 a year. So, one may ask, why did Mr. Dreier engage in fraud? The classic spiritual treatise, Bhagavad-gita, explains that a person in the grips of the mode of passion (called raja guna, in Sanskrit) has unlimited desires and longings.
A guna is a quality that, due to our desires and activities, entraps us. In the case of Mr. Dreier, after pleading guilty to his crimes he wrote a letter to the judge explaining that he began stealing in 2002, taking money from the settlement proceeds owed to a client. He had hoped to repay the money quickly, but instead he stepped into “a quicksand of spending” and found himself “running a massive Ponzi scheme with no apparent way out.”
When there is an increase in the mode of passion, the Gita tells us, uncontrollable greed develops.
In his letter, Mr. Dreier also told the judge that colleagues and clients were doing “better financially and seemingly enjoying more status” than he was, and he felt “crushed by a sense of underachievement.”
A person in the grip of passion is never satisfied with the position he or she has, covets higher positions and more possessions, and becomes disturbed by not having them and envious of those who do. Then, the intelligence smothered, that person ignores morality.
Or, in Mr. Dreier’s words, “I can’t remember or imagine why I didn’t stop myself. It all seems so obviously deplorable now. I recall only that I was desperate for some measure of the success that I felt had eluded me. I lost my perspective and my moral grounding, and really, in a sense, I just lost my mind.”
Greed, the Gita tells us, is one of three gates to hell, and any action done under its influence tastes like nectar in the beginning and poison at the end.
Mr. Dreier was convicted of fraud for bilking hedge funds and other investors out of at least $400 million and sentenced to twenty years in prison. He commented: “It’s easy to say you would never cross the line, but the line is presented to very few people.”
And it’s true. Anyone can succumb to greed – and have to experience the misery it brings.
There is a bright side, however. Anyone, including Mr. Dreier, who is sixty-two and may spend the rest of his life in prison, can reflect on and learn from the glorious Gita. This passage, for example, could give all of us pause:
“In the mode of passion, people become greedy, and their hankering for sense enjoyment has no limit. One can see that even if one has enough money and adequate arrangements for sense gratification, there is neither happiness nor peace of mind. That is not possible, because one is situated in the mode of passion. If one wants happiness at all, his money will not help him…” (Bhaktivedanta Swami Prabhupada’s purport to Bhagavad-gita 14.17)