He did so much for building trust. My financial advisors ask me why I do not consolidate my retirement accounts. My answer is "Bernie Madoff." "But we are not like that." they reply. "Just as Bernie would have said." I retort.
What’s insane is if the 2008 recession didn’t happen, he could have gotten away with it and we would be talking about his fraud only a few months ago when he died
A bunch of wealthy people who all run in the same circles, not satisfied with being super wealthy but instead wanting to be even wealthier. Shocking degree of greed among these investors. And of course, none of them take responsibility for being aware of the fact that no fund could generate consistent returns like that; they knew it was fraudulent. Anyone with the barest knowledge of the stock market would know that the Madoff scheme was illegal, but as long as they made sickening amounts of $, they said nothing. They cared only about themselves, never about those left out of the money-printing. They have only themselves to blame.
@PK So instead of turning his back on a scheme exploiting people’s greed and gullibility, your son chose instead to profit from it, despite suspecting the likelihood of those people suffering eventual financial ruin? And you take pride in this? Wow
What’s astonishing about this is most corporations and firms undergo an Annual Audit by licensed Accountants who Certify the financial records of the Company. I sure didn’t have any money in his circus but I really am wondering why his investors didn’t check for this before sending their lifetime savings to him. If an Accounting Firm did do an Audit on him annually then they would be complicit in the fraud.
One investors said he checked it out and was surprised to learn that Madoffs auditing firm was a one man operation. He said that was a huge red flag and didn't invest. The auditor got no jail time just probation
It wasn't corporations that were investing with him he targeted mostly wealthy individuals usually Jews and Jewish charities for the most part. Because he was Jewish not to mention having been chairman of NASDAQ he had credibility with these people. These people thought Bernie was investing in their money in the stock market but Bernie never traded a single share he just dumped the cash into his account at Chase Bank and used it to pay returns his earlier investors, (and buy multi-million dollar penthouses, million dollar beach houses, yachts, Benzes, Rolexes and jewels for himself, Ruth, and their sons. As long as he and his feeder funds like Fairfield Greenwich continued to recruit new investors to put ever more billions into his ponzi he could continue to pay out the fat returns he promised (and live large off their cash) If the 2008 crash hadn't happened and caused people to get scared of the stock market and stop giving money to Madoff to "invest" and calling Madoff wanting their money out of the stock market (which it wasn't even invested in) this scam would still be ongoing.
@@tashante I’m a little slow so forgive me. Matter of fact when I was in middle school some fellow student, whenever he saw me, would say “duhhhhh” to me. You wouldn’t do that to me would you?
And his wife and sons suffered as a result as well. I believe that they didn't know. The sons worked in another part of the building so didn't see what was going on up close. Ruth just sat back and enjoyed the wealth.
David Kotz said the most important utterance here, “(Madoff) was trading just fine until he was suddenly a couple-a-hundred million down...” then just like before when he was down, to prevent embarrassment and business failure, he started the Ponzi, like when he borrowed $3000 from his Father-in-Law earlier to prevent a bad outcome. These patterns are consistent. Family, who see these patterns, should be aware of disastrous events to come if not addressed. Financial fraud is minor when compared to other episodes where prior patterns induce suspicion. Suicide, mass shootings, domestic abuse, substance abuse, etc. can be the outcome.
I wanted thumb this down due to Madoff's atrocities but then I'm like, well thumb it up for the article or course. He devastated so many people and the ripples in the pond with each person x10 more in their circle. Amazing piece.
Is it seriously worth it? How sad when your own children ashamed of you and deny you. Without all that scamming he could still have had a comfortable life.
He's a psychopath (no empathy) so he doesn't care about his children's shame. He gets more a kick from fooling everyone than he does from the money, so that's why he does it.
I was born in the 1960s and I have been extremely ambitious, determined, and focussed to be successful in MY work. However, unlike Madoff's "work" being just pushing money around, which is JUST PUSHING OTHERS' LABOR AROUND, I wanted to CREATE ACTUAL PHYSICAL AND MENTAL VALUE: engineering and math.
a ponzi scheme is a ticking time bomb, everyone was going to find out regardless of a confession. it takes a special kind of piece of crap to do something like this with people's life savings. good riddance.
@@youtube-ventura he did it for decades.l without it falling down. He was unusually successful at it. Without the 2008 crash, he could have maybe retired and gotten out of it without having to confess.
When someone tells you something is a "secret", how great of a deal is it? I've followed this case for many years, and I still ask, if everyone you know who has invested is getting the average, but you're way above, isn't that a red flag? All the early investors never questioned anything because of their own GREED.
Know when to fold 'em Know when to walk away And know when to run You never count your money When you're sittin' at the table There'll be time enough for countin' When the dealin's done Every gambler knows That the secret to survivin' Is knowin' what to throw away And knowin' what to keep 'Cause every hand's a winner And every hand's a loser And the best that you can hope for Is to die in your sleep"
@@billybud9557 Only two are dead, Bernie and the one son with a conscience that killed himself. The wife and second son still escaped with millions in stolen money (even excluded the money that Bernie had to have hidden in offshore bank accounts).
@@2011blueman He was a crook. No doubt. Family too. But hating a dead man is a winless situation. 100's of Wall Streeters are walking around after bilking their clients....let's worry about stopping them instead
@Ethio Impress no it’s not. The root is selfishness. The misidentification with the little “I”. It’s desires and disconnectedness from its surroundings.
I was never in any danger from Madoff's scam, I heard that any investor would need at least 1,000,000 to get into this , It's interesting seeing the 1% as animals in the zoo that is America, for once. I can say that I feel nothing over this whole drama.
That is not entirely correct, there were several feeder funds which provided access to Madoff’s investments, although retail investors may not have not known ultimate fund
@@2011blueman At least these people can focus their anger on a single person, I lost a lot in the big American Ponzi Scheme of 2008. Who do you blame when you have a complicit Government, Rating Agencies, and Wall Street?
Madoff was very smart but too greedy and had bad morals. He could of been a very rich multi millionaire or even billionaire but he wanted to become a multi billionaire at all costs.
@@ixlr8395 He was only caught because of a market cash and recession. If that didn’t happen the Ponzi Scheme probably would never of been discovered. He was smart but not very realistic because the market crashes or there is a recession about every decade.
@@definitionofinsanity161 it was inevitable that he was caught. You just said it yourself, market crashes and recessions are inevitable. He had no way out.
When he launched a fund he did 2 and made 30 percent returns yearly and he kept the rest for himself making them good returns with the Hope's of their LPs reinvesting but the thing here is that he never invested the money he just changed it from investor to investor
Ok so basically, he gets investor A to give him $500 to “invest”. Then he gives investor A like $50 a year as a “return on investment”. Multiply this times many accounts over and over, and you have a giant pool of money, and “returns” to give out to investors. The problem is that when investors wanted to withdraw all their money during the great recession, there wasn’t enough money to give back. It all came tumbling down.
Let’s say he gets someone to give him 50000 dollars to invest after he promises consistent returns. What he actually does is keeps a portion of their own money separate and gives it back to them as their investment “return” (when in reality he never put the money in the market at all and is just spending) and when person A’s money’s dried up he moves onto the next. He was sociopathic and didn’t care who he hurt and could lie convincingly and easily so getting the new investors wasn’t really a problem (until 08) and eventually he stole 65 billion dollars. It’s super crazy
Myra Sedgwick and Kevin Bacon unfortunately lost a lot. I also heard he only took Jewish people's money. Maybe his country clubs were like people, I'm not sure. But when the market is down 6 months in a row and you made %12 profit 6 months in a row, it's a red flag.
We need to hail to this genius for what he did. He would've been a prophet if he would've gave his money to the inner cities. Everyone is bashing him for stealing from the 1%ers. Their greed was their weakness and he was able to pounce on it., Love you Madoff. May you rest in peace you saint.
I heard it was because he couldn't return money to some highly powerful people overseas that he knew would come after him so that could be why he turned himself in. I could be wrong though. 🤷♀️
Madoff’s investors are also to blame for their losses. They put way too much of their money with him in hopes of getting super high returns. BIG MISTAKE. There’s an old saying, “Never put all your Eggs in one Basket”.
Charles Ponzi like Charles Keating who fleeced S&L's for a few billion and left 23 000 people with worthless bonds but he did get Alan Greenspan his first job as a consultant writing an opinion and review of his financial transactions. You may know Alan Greenspan as the head of the Federal Reserve. He left just a couple years before the housing market crisis of 2008. What great timing. Who is the bigger thief Alan Greenspan or Bernie Madoff? They have all been allowed to operate within the same environment.
What we need is some type of government entity, a commission that monitors securities and exchanges, to keep these type of things from happening! We need that because the government will protect us! We can TRUST the government.
@@alecgurney9305 who was regular in this video? I think regular is a Perceived notion. What u perceive is “regular ppl”and what I perceive as “regular ppl” may differ. Using context clues I wouldn’t say any of these ppl were starving or living in poverty.
I still don't understand what the day-to-day work in his office looked like. Who was doing what, exactly, and how nobody/so few could be aware. I'm not saying I don't believe them, it is just hard to understand how it all went about. He did not trade, so there was no money going to that. But he spent money on other things, and he transfereed money. If you have thousands of clients how is that even possible? In any way? They would likely have known if money was transferred, and also likely have known if money was NOT transferred. I run a small business myself, and you get an idea of how information must flow within the company to get things done at all.
Did he not die in jail? He was sorry. Millions of wall street experts con people by selling short. Some brokers mislead their clients. You played in a snake pit. Sorry for your financial loss.
Driving one of his own sons to suicide, losing the respect and friendship of family and friends (did he even have any?) and dying alone as a convicted felon in a prison cell? Sure, a great run! 😆😆😆
I don't have much sympathy for people who give 95% of their money to a stranger and then play a victim. Without a doubt it was wrong and illegal, but it's greed full circle.
Never invest in anything you don't understand or are fully aware of the risk. Financial planners are a joke and can't be trusted. Do your own research and make your own investment decisions. It's not that hard if you take the time to learn.
Who jumped ship before the truth came out? That’s the billion dollar question. No way in hell was this going to court when Royal families and top fund managers were involved.
Hi This is Daehee Kim, a producer on Korean entertainment TV broadcast (tvN). This show is called as 'Crime Miscellaneous Dictionary Useful To Know' which is in Korean, "알아두면 쓸데있는 범죄 잡학사전". We would like to obtain permission to use the following video for episode 13, which will be aired on April 10, 2022 in Korean broadcasting. We look forward to your reply as to whether it is possible to obtain material permission. Thanks for your consideration and time upon this matter, and I will look forward to hearing from you soon. Hope you have a great day
Only Rich and greedy people lost money and they made money with Madoff.Not feel sorry for them.Madoff never ripped off poor people. Feel sorry for Madoff family!
![[#2024MAMA] ROSÉ (로제), Bruno Mars - APT. | Mnet 241122 방송](http://i.ytimg.com/vi/dgGqD28J6aQ/mqdefault.jpg)
He did so much for building trust. My financial advisors ask me why I do not consolidate my retirement accounts. My answer is "Bernie Madoff." "But we are not like that." they reply. "Just as Bernie would have said." I retort.
Let me introduce u to bitcoin!
@@aoikemono6414 please introduce me to it. I'm trying to find out how I can buy things like pizza with it.
Nice
He's a legend. RIP
Same reason I don’t only invest in Bitcoin and put it on other crypto. Chances are good btc is a ponzi
What’s insane is if the 2008 recession didn’t happen, he could have gotten away with it and we would be talking about his fraud only a few months ago when he died
It's ok, Somebody much more sinister took over and is running a much much bigger Ponzi. You will hear about it soon im sure.
I mean he did confess and his sons told and he was arrested the next day.
@@pjaybasmaigneehe confessed due to investors wanting their money and him not having it
Things happen for a reason
every person will face 1- 2 recessions in his life
A bunch of wealthy people who all run in the same circles, not satisfied with being super wealthy but instead wanting to be even wealthier. Shocking degree of greed among these investors. And of course, none of them take responsibility for being aware of the fact that no fund could generate consistent returns like that; they knew it was fraudulent. Anyone with the barest knowledge of the stock market would know that the Madoff scheme was illegal, but as long as they made sickening amounts of $, they said nothing. They cared only about themselves, never about those left out of the money-printing. They have only themselves to blame.
If you park 95% of your wealth in one place because of a higher than average return, you're only a victim of your own dumb greed.
True
Yup. Shame on them
As opposed to virtuous smart greed?
@PK So instead of turning his back on a scheme exploiting people’s greed and gullibility, your son chose instead to profit from it, despite suspecting the likelihood of those people suffering eventual financial ruin? And you take pride in this? Wow
Leave Bernie alone.
What’s astonishing about this is most corporations and firms undergo an Annual Audit by licensed Accountants who Certify the financial records of the Company. I sure didn’t have any money in his circus but I really am wondering why his investors didn’t check for this before sending their lifetime savings to him.
If an Accounting Firm did do an Audit on him annually then they would be complicit in the fraud.
One investors said he checked it out and was surprised to learn that Madoffs auditing firm was a one man operation. He said that was a huge red flag and didn't invest. The auditor got no jail time just probation
Arrogance.
It wasn't corporations that were investing with him he targeted mostly wealthy individuals usually Jews and Jewish charities for the most part. Because he was Jewish not to mention having been chairman of NASDAQ he had credibility with these people.
These people thought Bernie was investing in their money in the stock market but Bernie never traded a single share he just dumped the cash into his account at Chase Bank and used it to pay returns his earlier investors, (and buy multi-million dollar penthouses, million dollar beach houses, yachts, Benzes, Rolexes and jewels for himself, Ruth, and their sons.
As long as he and his feeder funds like Fairfield Greenwich continued to recruit new investors to put ever more billions into his ponzi he could continue to pay out the fat returns he promised (and live large off their cash)
If the 2008 crash hadn't happened and caused people to get scared of the stock market and stop giving money to Madoff to "invest" and calling Madoff wanting their money out of the stock market (which it wasn't even invested in) this scam would still be ongoing.
@@trevorn9381why not just actually put it in the stock market?
@@gghhhhhhhhb8161 because it's incredibly difficult
Perfect timing- I just found out about this and I’m ready to go down the rabbit hole
It's a deeep one....
Buckle up
Check out the hbo film
Wait for me
Hahaha let us know how it goes
His name is Madoff. Should have been a hint.
😂😂😂
As in “made off”?
@@jogmas12 Well duh...
@@tashante I’m a little slow so forgive me. Matter of fact when I was in middle school some fellow student, whenever he saw me, would say “duhhhhh” to me. You wouldn’t do that to me would you?
People still do that nowadays and they are called forex traders
Forex traders are a shame. Taking advantage of lower income kids smh.
And they think they are making money 😂
And his wife and sons suffered as a result as well. I believe that they didn't know. The sons worked in another part of the building so didn't see what was going on up close. Ruth just sat back and enjoyed the wealth.
Harry Markopolos exposed Madoff in the early 2000's but the SEC turned a blind eye.
Yep! Harry wrote a book about this, fascinating.
David Kotz said the most important utterance here, “(Madoff) was trading just fine until he was suddenly a couple-a-hundred million down...” then just like before when he was down, to prevent embarrassment and business failure, he started the Ponzi, like when he borrowed $3000 from his Father-in-Law earlier to prevent a bad outcome.
These patterns are consistent. Family, who see these patterns, should be aware of disastrous events to come if not addressed. Financial fraud is minor when compared to other episodes where prior patterns induce suspicion. Suicide, mass shootings, domestic abuse, substance abuse, etc. can be the outcome.
The title of this video should be "His life of crimes."
One word EVIL..
I wanted thumb this down due to Madoff's atrocities but then I'm like, well thumb it up for the article or course. He devastated so many people and the ripples in the pond with each person x10 more in their circle. Amazing piece.
all hail bernie madeoff, what a legend
I lost 95% of my net worth. Now I only have $30 mil.
Ah-hahaha-HAHA-AAAAAAHHHAAA -DONT I WISH
The only people investing in him were multi millionaires/billionaires. Not every day people.
@@keysersoze5032 he actually did scam average people
@@slime129 If you only had 10k to invest he would actually come to you to get it.
seems that the strongest urge to punish is when Americans' $$ is at stake..
I wish.
Is it seriously worth it? How sad when your own children ashamed of you and deny you.
Without all that scamming he could still have had a comfortable life.
He's a psychopath (no empathy) so he doesn't care about his children's shame. He gets more a kick from fooling everyone than he does from the money, so that's why he does it.
I was born in the 1960s and I have been extremely ambitious, determined, and focussed to be successful in MY work. However, unlike Madoff's "work" being just pushing money around, which is JUST PUSHING OTHERS' LABOR AROUND, I wanted to CREATE ACTUAL PHYSICAL AND MENTAL VALUE: engineering and math.
I feel sorry for the many victims, some lost all their money, houses. A dangerous evil man.
greed is dangerous. the offered return was too high to believe.
The most bs thing in this is her saying ' what's a ponzi '.
She knew what her man was about
10000% correct she runs in these circles and doesn't know or never heard of a ponzi scheme. SURRRRRRRE 😂
I was so fascinated w/this story. Just couldn’t believe that ppl would give their money like that. I also, feel the family knew. Just my opinion
This was really messed up..but incredibly impressive.
And Ponzi scheme should be now called Madoff scheme..He absolutely polished it.
All financial corrupt things considered like greedy investors, greedy bankers, greedy traders and a fixed stock market
Bernie Madoff is a hero
His downfall was not remembering and cherishing his humble middleclass roots.
Sociopaths don't care.
Lol middle-class. The holy saints among us.
@@2011blueman a true sociopath wouldn't care about his earthly existence and would try to trick unworthy souls into cherishing more earthly rewards.
@@purduevoices That's very logical and down-to-earth. Any tips on how to proceed in accomplishing this?
@@345mrse in a way, Madoff was able to remember his humble roots during his final years in prison. He was well liked in prison....
If he hadn't confessed nobody would have known....???
a ponzi scheme is a ticking time bomb, everyone was going to find out regardless of a confession. it takes a special kind of piece of crap to do something like this with people's life savings. good riddance.
The 08 market crash led to his demise..
@@youtube-ventura he did it for decades.l without it falling down. He was unusually successful at it. Without the 2008 crash, he could have maybe retired and gotten out of it without having to confess.
this hero made me a lot of money
lmao
Hahaha
Madoff actually did make a few ppl a lot of money! The ones who bailed out before the thing collapsed.
The sad thing is that there are probably people who knew but did not speak for one or the other reason.
"Think of it always but speak of it never." as the French say of uncomfortable facts.
And JP morgen didn’t ask where the money is coming from?
JP Morgan and Jamie Dimon are the biggest crooks. White Collar crime is at an all time high. And the SEC picks and chooses who they want to expose.
His prison probably had a tennis court.
When someone tells you something is a "secret", how great of a deal is it? I've followed this case for many years, and I still ask, if everyone you know who has invested is getting the average, but you're way above, isn't that a red flag? All the early investors never questioned anything because of their own GREED.
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
Every gambler knows
That the secret to survivin'
Is knowin' what to throw away
And knowin' what to keep
'Cause every hand's a winner
And every hand's a loser
And the best that you can hope for
Is to die in your sleep"
Jesus christ, yeah
Love you Kenny Rogers…
You know I think the name ponzi scheme should be updated to Madoff scheme as it fits perfectly
Neeh, Ponzi sounds cooler
Why? Ponzi was the man who invented it. Madoff only build on the back of his invention.
@@xxyes8879 Ponzi didn't invented it, he just made it famous or did on a larger scale but his was child's play compared to madeoff
In an age where the average murderer spends less than 8 years in prison, this man received the death penalty. RIP Bernie. Your debt is paid.
No it's not, his wife and kids still walked away with millions in stolen assets.
@@2011blueman I don't think there is much more you can get from Bernie, or his sons...they are all 3 dead....debt paid.
@@billybud9557 Only two are dead, Bernie and the one son with a conscience that killed himself. The wife and second son still escaped with millions in stolen money (even excluded the money that Bernie had to have hidden in offshore bank accounts).
@@2011blueman He was a crook. No doubt. Family too. But hating a dead man is a winless situation. 100's of Wall Streeters are walking around after bilking their clients....let's worry about stopping them instead
@Ivan Schlotzky why are you trolling a year old comment?
As once Bob Marley said: you can fool some people some time but you can't fool all the people all the time.
Bernie Madoff certainly made off with a lot of other people's money. Having the integrity to be true to your name is a very important thing in life.
This is a very old joke.
@@PatrickMcAseybut still funny
@@figaro-dg5c5 If you're easily amused, that is.
So, you describe 'making off' with other people's money as 'having integrity'? What are you talking about?
@@PatrickMcAsey and that's a bad thing? Lacking sense of humour is not a benefit, bro. Are you one of those who thinks farts are not funny?
Is there a part 2 or what
How come the social security administration is not a ponzi scheme?
It is..... and i want it to end after i die
@@rogertuttle243 Well said. "Its a bad system but somebody else should end it after I am gone." as Thomas Jefferson said of slavery.
It's transparent and doesn't promise returns on investment. It's kind of like insurance.
Money and greed is the root of all evil.
Stfu no it isn’t
@Ethio Impress no it’s not. The root is selfishness. The misidentification with the little “I”. It’s desires and disconnectedness from its surroundings.
no it’s not. The root is selfishness. The misidentification with the little “I”. It’s desires and disconnectedness from its surroundings.
@Ethio Impress if you think money is the root of all evil you must have done some rotten things for your money to give you that impression.
@@NightVulin you're correct, religion is... but wait, religion is all about money, se he's right afterall
Now what about the billions he hid?
Finding Madoffs Billions, coming to Discovery channel soon.
How can you stomp on the graves of dead people? Forgiveness is available so leave Madoff alone. He served his time. All of you are sinners.
madoff had family connections to the SEC .. kept them in place
That’s why when that man blew the whistle there was no investigation
Are we suppose to feel compassion for this guy!???
Edu, iHola! Bandit. for him yes because he was just a figure head
@@PHlophe a figure head who knew!
Strive to be comfortable in your retirement years but beware of greed.
I was never in any danger from Madoff's scam, I heard that any investor would need at least 1,000,000 to get into this , It's interesting seeing the 1% as animals in the zoo that is America, for once.
I can say that I feel nothing over this whole drama.
That is not entirely correct, there were several feeder funds which provided access to Madoff’s investments, although retail investors may not have not known ultimate fund
That was only toward the end. In the beginning he had pretty low investment minimums.
@@2011blueman At least these people can focus their anger on a single person, I lost a lot in the big American Ponzi Scheme of 2008. Who do you blame when you have a complicit Government, Rating Agencies, and Wall Street?
When he was in Butner, only 3 people were on the approved visitor list. His wife, attorney and a guy from Sarasota, Fl named Rich Towsley
Rip DMX 🪦
I heard Madoff was actually well respected in the Jail he was sent to... I find that ironically hilarious 😂 ..
Lol he had an aura of influence so I don’t doubt that
Charles Manson can be respected in prison and I’m pretty sure this guy could’ve been as well
HES the world first thief of course they respect him in prison
White collar scams are usually well respected in prison from what ive heard
At what cost? He lost his entire family including one son committing suicide and the other of cancer
A BRILLIANT MAN !!!
😭
Brilliant is correct Unfortunately he just used his brilliance for the wrong reasons !
Madoff was very smart but too greedy and had bad morals. He could of been a very rich multi millionaire or even billionaire but he wanted to become a multi billionaire at all costs.
Not very smart....he eventually got caught
@@ixlr8395 He was only caught because of a market cash and recession. If that didn’t happen the Ponzi Scheme probably would never of been discovered. He was smart but not very realistic because the market crashes or there is a recession about every decade.
Smart enough to get caught and end up dying in jail as a convicted felon? 😆😆😆
@@definitionofinsanity161 it was inevitable that he was caught. You just said it yourself, market crashes and recessions are inevitable. He had no way out.
Lost both his sons. Moral of the story don’t hurt others.
How did he do it - that's what I'm here for.
When he launched a fund he did 2 and made 30 percent returns yearly and he kept the rest for himself making them good returns with the Hope's of their LPs reinvesting but the thing here is that he never invested the money he just changed it from investor to investor
Ok so basically, he gets investor A to give him $500 to “invest”. Then he gives investor A like $50 a year as a “return on investment”. Multiply this times many accounts over and over, and you have a giant pool of money, and “returns” to give out to investors. The problem is that when investors wanted to withdraw all their money during the great recession, there wasn’t enough money to give back. It all came tumbling down.
Let’s say he gets someone to give him 50000 dollars to invest after he promises consistent returns. What he actually does is keeps a portion of their own money separate and gives it back to them as their investment “return” (when in reality he never put the money in the market at all and is just spending) and when person A’s money’s dried up he moves onto the next. He was sociopathic and didn’t care who he hurt and could lie convincingly and easily so getting the new investors wasn’t really a problem (until 08) and eventually he stole 65 billion dollars. It’s super crazy
We can say one thing he didn’t snitch😂
Myra Sedgwick and Kevin Bacon unfortunately lost a lot. I also heard he only took Jewish people's money. Maybe his country clubs were like people, I'm not sure. But when the market is down 6 months in a row and you made %12 profit 6 months in a row, it's a red flag.
Instead of ridiculing Bernie Madoff they should be thanking him for being the Einstein of wealth 🤑🤑
LIFE IS ONE "BIG" PONZI SCHEME?
We need to hail to this genius for what he did. He would've been a prophet if he would've gave his money to the inner cities. Everyone is bashing him for stealing from the 1%ers. Their greed was their weakness and he was able to pounce on it., Love you Madoff. May you rest in peace you saint.
Where is part 2?
It should be remembered that he turned himself into authorities. He must have had a "Jesus" moment and saw the light.
No. Rather the crash of 2008 meant he was done
@@rosep8481 Exactly. You can't keep posting 15% returns in a global recession. And people started pulling their money out in case it got worse.
@@rosep8481 the housing crisis wasn't his doing and was another Ponzi scheme by our government.
I heard it was because he couldn't return money to some highly powerful people overseas that he knew would come after him so that could be why he turned himself in. I could be wrong though. 🤷♀️
He was Jewish... So It was probably a “Moses” moment!
Just simply loves how the narrator starts off his opening statement. 😂 0:01
Classic photo with out him glasses.
😹😹😹🔥
He moved from his comfort mansion to go into a 1000 room castle....🤣🤣🤠
If the clients accept completely unrealistic high returns ... don't be "devastated" when it is exactly this !
Madoff’s investors are also to blame for their losses. They put way too much of their money with him in hopes of getting super high returns. BIG MISTAKE.
There’s an old saying, “Never put all your Eggs in one Basket”.
Did you even watch the video? He was the low risk conservative investor you dolt. That's why his firm was attractive.
@@aoikemono6414
Let’s try to keep the comments civil & respectful. I see no reason why you’re calling me a name.
Charles Ponzi like Charles Keating who fleeced S&L's for a few billion and left 23 000 people with worthless bonds but he did get Alan Greenspan his first job as a consultant writing an opinion and review of his financial transactions. You may know Alan Greenspan as the head of the Federal Reserve. He left just a couple years before the housing market crisis of 2008. What great timing. Who is the bigger thief Alan Greenspan or Bernie Madoff? They have all been allowed to operate within the same environment.
This brilliantly explains how he got away with it.
The people you call victim like JP Morgan , and other financial institutions were the main reason for 2008 700 BN scam
9:12 my husband just dropped dead from a heart attack.
That sounds really respectful.......
dead unexpectedly
Oscar award soon to become
So he just flat out robbed his investors and lived off of that, then paid them back with more investors cash?
I believe It honestly wouldn’t have been so bad had he have been humble
Bernie lived a comfortable life in and out of jail.
Bernie Madoff is a inspiration to many. D.J.T
Trump still living rent free in your little brain? 😂😂😂. I love it.
Mallus report here 😍
Your SEC couldn't find it if you melted it and poured it on top of them. Yet they allow them to take credit!!!!
What we need is some type of government entity, a commission that monitors securities and exchanges, to keep these type of things from happening! We need that because the government will protect us! We can TRUST the government.
Dale wins the comments section prize.
After doing some research. It seems like Bernie actually served a pretty hefty price in the last part of his life. Sad, tragic stuff.
STOLE FROM THE RICH AND ELITE. LEGEND 🕵🏼
And from regular people
@@alecgurney9305 who was regular in this video? I think regular is a Perceived notion. What u perceive is “regular ppl”and what I perceive as “regular ppl” may differ. Using context clues I wouldn’t say any of these ppl were starving or living in poverty.
@@user-vl4jy3pr4e 💯👌🌷😍🤗
Investors need to lookout for themselves period
I still don't understand what the day-to-day work in his office looked like. Who was doing what, exactly, and how nobody/so few could be aware. I'm not saying I don't believe them, it is just hard to understand how it all went about. He did not trade, so there was no money going to that. But he spent money on other things, and he transfereed money. If you have thousands of clients how is that even possible? In any way? They would likely have known if money was transferred, and also likely have known if money was NOT transferred. I run a small business myself, and you get an idea of how information must flow within the company to get things done at all.
If I hear another person explaining why the lipstick building is called so………….
Whats a ponzi scheme , she asked ??? Sure lmaooo
He had a great run, served only 12 years in jail !! Yet another reason to believe in the day of judgment .
Did he not die in jail? He was sorry. Millions of wall street experts con people by selling short. Some brokers mislead their clients. You played in a snake pit. Sorry for your financial loss.
Driving one of his own sons to suicide, losing the respect and friendship of family and friends (did he even have any?) and dying alone as a convicted felon in a prison cell? Sure, a great run! 😆😆😆
enriqueali , he had a great life until the day he got caught..... indeed it was a good run.
I suppose you are righteous?
How many people here actually know what Charles Ponzi did? Think about it
Bernie would have loved Bitcorn
Rip
I don't have much sympathy for people who give 95% of their money to a stranger and then play a victim. Without a doubt it was wrong and illegal, but it's greed full circle.
I'm excited to see an indepth documentary about Citadel. Following in Bernies shoes....here comes Kennneth Griffin.
He showed everyone what he is Madoff. 😅
Bernie Madoff with money but he has to stand before God and he won't be able to buy his way out of that one.
Plottwist: religion is an even bigger scam
SBF brought be here 😅
Never invest in anything you don't understand or are fully aware of the risk. Financial planners are a joke and can't be trusted. Do your own research and make your own investment decisions. It's not that hard if you take the time to learn.
My hero
The SEC majors in insider trading not protecting investors. They are on an ego trip.
Greedy people not happy just being wealthy wanting more and more . Invest at your own risk
Who jumped ship before the truth came out? That’s the billion dollar question. No way in hell was this going to court when Royal families and top fund managers were involved.
he really made off with a lot of money
Literally years too late bud
Madoff ..made offffff lol omggggg I'm dying 😆😆
Mee gustaría que lo pusieran en Español. Gracias
No esta en espanol.Solo en ingles.Este hombre Era Pura maldad.
Hi
This is Daehee Kim, a producer on Korean entertainment TV broadcast (tvN).
This show is called as 'Crime Miscellaneous Dictionary Useful To Know' which is in Korean, "알아두면 쓸데있는 범죄 잡학사전".
We would like to obtain permission to use the following video for episode 13, which will be aired on April 10, 2022 in Korean broadcasting.
We look forward to your reply as to whether it is possible to obtain material permission.
Thanks for your consideration and time upon this matter, and I will look forward to hearing from you soon.
Hope you have a great day
Watching this after the Sam Bankman-Fried news
Me too! It seems like each new generation gets their own Madoff.
Looks like Bernie Made Off with ALOT of money!
(Badum Tiss🥁) thank you I'll be here all night)
people committed suicide because of this guy.
Sad😢. For him, his family and all he screwed. Just sad
Greed, greed, greed. . .
No one can convince me that J.P. Morgan did not realize that he just put the fund into one of their accounts
I don’t believe for one second that his sons didn’t know. They’re both licensed traders.
Only Rich and greedy people lost money and they made money with Madoff.Not feel sorry for them.Madoff never ripped off poor people.
Feel sorry for Madoff family!