Madoff is a political prisoner, he was railroaded by the US government. In order to steal 65 billion dollars, he would have needed to steal 6 million dollars a day, every day for 30 years. What did he do with the money? How do you spend 6 million dollars a day? Madoff only had a few million dollars in assets. What does an old man need 65 billion dollars for? IT's all a Lie. Also, American greed is a big LIE. It is communist party propaganda.
Someone, back then said, "I knew Bernie was a crook. That's why I invested with him." It wasn't that hard to see that no portfolio in history had never had a down year. It was right in front of them. People work hard for their money and don't give much thought when they invest. Happens all the time.
And now he wants medical release because he’s sick. I remember Axios accidentally put on Twitter that Bernie Sanders was seeking compassionate release from his 150 yr prison sentence. 🤣🤣 What an awful mixup!
@@alisonfriedman5288 I recently saw a woman who was at a dinner party and mentioned she wondered if Bernie was actually legitimate. She made the mistake of questioning his integrity. And another woman piled into her...how dare she question such a wonderful man who has done so much for the community. After that, she said she just kept her mouth shut, I hope smart enough to start pulling money out. You know not one single trade was ever made? No one bothered to follow a stock order request to see if it was actually posted on the exchange.
How rich people think: "He wasn't ostentatious about his wealth. He just had a bunch of yachts, a home in Palm Beach, a home in Montauk, a home in Manhattan. He was living well." 😆
Ostentatious must be relative. Maybe the guy meant Madoff wasn't ostentatious in comparison to Trump's display of wealth? Regardless, how many yachts, homes, pairs of shoes, and other stuff does one need or even want? I think you'd get bored after awhile and not use most of it.
@@jenniferwilcox9759 Yes. I know. Scott was saying that in comparison to other people with extreme wealth. It's simply funny because any average American would consider having a bunch of yachts and multiple homes to be highly ostentatious
He is right. Bernie would have been able to access those kind of items and lifestyle if he lived straight, if he did not commit the con. So what is the reward? Not the money or things.
Not true… there are some state prisons that are nicer then some fed.. lots of variables.. the old wise tale of if I’m ganna go to prison I hope I go to fed… not exactly true..
His horrible wife Ruth and his lame sons were all involved and they are liars!! They knew!! So look at them know? Rotting and with Ruth, slowly 🐌 Rotting.. she lives on Virginia slims and Valium
This journalist seem to believe Madoff, 'pathological liar' but not his victims (i.e. family). No word on possibility of him being covert narcissist. No focus on the role of JP Morgan.
I find the irony of this hilarious. He lived off others when he was free and now he lives off others in prison with the added bonus of great healthcare. What a joke.
He’s in a cage and brought his family great shame. Trust me they will always carry that burden bc people will always figure his wife and sons knew all along. Plus one of his sons killed himself from the shame.
I'm fascinated by people like Bernie Madoff, not because of the big amounts or the scandal or all the more 'flashy' aspects of this story, but for that one moment when a person makes a choice and it all snowballs from there. I watched one investigation into him and it reported that in the early days, when he was just starting out and his wife was doing his bookkeeping (briefly)... he was just an ordinary guy, making an honest living. What was that moment when he felt like he needed to make that one bad deal - sell more to one person in order to pay off another, I guess, with actually nothing to sell? Because if he didn't sit at home plotting to create the mess he created (and from what I heard, he didn't really plan it; it wasn't like he was looking for a chance to start a massive Ponzi scheme), then at some point he must have got into some trouble, and decided to 'rob Peter to pay Paul,' invent some investment that never happened to get some new investors to pay off other investors when something went sour. And then it seems like he just got in deeper and deeper and eventually 'it' was controlling him, and he was not controlling it. It seems like he really did everything to keep his family in the dark, to keep his wife and sons (even when they worked for him) absolutely separate from any of his illegal activities so they would not be implicated when it all collapsed. But what was that one step, that one decision, that one moment that set him on this path? That's always the question that fascinates me most.
To a normal honest people it may happen, a moment in time, a mistake, even a series. But there are people with personality disorders. There's not enough knowledge about them and for most people it's very difficult or impossible to see through their web of lies, not to fall for their psycho manipulations. I have a lot of experience with narcissists (NPD) and they may be describing here a narc, maybe a covert narc: sociopath, controlling his office, controlling narrative, pathological liar, looking unassuming. His 'honest moment' could be a grab of attention. Only sensitive narcs may sometimes honestly apologize but it does not change anything, they'll keep abusing others . They feed on attention, positive or negative, it's called 'narcissistic supply'. Someone with such character doesn't change. Maybe earlier was 'helping' his 'favorite' clients and was lucky it wasn't discovered. If in the prison he's got attention, 'respect' he's in his paradise. Many narcs are highly functional and are used as politicians, presidents, etc. He served JP Morgan well. Maybe their attention, admiration of 'favorite clients' gave him attention, 'respect' he crave for and made doing more to keep it. Look at well known narc Sam Vaknin, with 190 IQ, researching this subject. He embezeld millions while working in the bank. Maybe the man who brought down Leman had narcissistic traits or personality. Maybe Elizabethh Holmes of Theranos. Look up Narcissistic Red Flags, dr Ramani, Michelle Lee Nieves (for a start). Spend few months studying it and you may be shocked how many such people you know, see on tv. They're not to be admired but ostracised, avoided. They know what is wrong or good but follow their tendencies, use others to regulate their emotions, satisfy needs. They were traumatized, broken or spoiled children but may hurt like only a sadistic adult can. The most amazing of their tactisc is 'narcissistic projection': they will accuse a victim of doing evil they do to their victims. Such strong is their ego in rejecting any of their wrong doings. They know somebody lies, cheat but will accuse their spouse, coworkers. While the victim is upset, try to reason they enjoy the show, feeling powerful, having impression they control this person and the situation, and having (false) sense of security. I used the word 'normal' people.. The're not mentally sick, it's not a disease, you can't cure it. Althought there are some therapies. Most of them won't see any need for a change because they seem to thrive while destroying their family, children, community, country. Some know who they are and are bragging about it. Because as a child they created a false persona of somone omnipotent, better than anyone else, entitled. Everything in oposition to a weak, scared child full of toxic shame. They go through life buling, destroying others. Often they run away into addiction from the pain of truth about themselves. May become a hoarder because people keep rejecting them but thinngs do not. It's impossible to help them with kindness. They are predators, pray on kind, helpful people. Someties only loosing everything they care for may give them strong enough motivation to accept they may be a source of the problem, not the world, and seek help. Therapy may help them feel safer. If Mr Madoff is a narc even now he does not have enough motivation to change anything because he's got attention (of thugs, media, yours).
I dont understand the amount of greed involved, he was a multi millionaire, many times over from his legit buisiness, he had more than enough money to live in luxury......
@@bobbertee5945 If he was a narcissist then he followed his tendencies. They are never satisfied, they crave for attention, admiration, and believe will get away with anything coz they are the smartest. Look up NPD, see how Sam Vaknin speaks, he stole milions from the bank he worked for. I love his honesty. He explain how he thinks, function, does research. He said he's still a narcissist. Think about narcs used to rule corporations, governments, etc.
From what I understand it started with his first group of clients early in his career. He had about 20 clients and about $50,000 in investments for his clients. These were legit trades. But the market crashed and he lost all of his clients money. He felt bad because he encouraged them to take these trades and he didn’t want to tell them he lost all of their money. So instead of being honest, he borrowed money from his father in law to cover the losses. Ultimately, it made him look like a genius. When everyone lost money his clients didn’t or so they thought. It led to more clients and it he became highly sought after. He build his clientele and in order to keep his reputation of a guy that always get you returns with little to no loses, he started robbing Peter to pay Paul. It just grew from there.
The financial sector urgently needs to be regulated back again. The rules which had been established after the 1929 crash and then removed by Reagan and Clinton has to be put in place again. The States stop guaranteeing savings, pensions funds, insurances long time ago. Basically between the 80s and the 90s the financial subjects have been allowed to gamble using the common people money. Unfortunately people, though the many scandals, seem to be anaesthetised. Occupy Wall Street should have been a massive protest and not left to just few dozens brave volunteers.
Reagan and Clinton didn’t do squat!! It was the legislators that put the bill together by a margin of 95% or better. And you voted these people into the office
Agreed. All SEC parties need to be investigated as to why nothing was done when it was repeatedly brought to their attention. Not doing their jobs - seems not good enough.
And this is why they never teach kids about money in school. They want you ignorant. It wasnt until late in my life what I learned what I was missing. Making your money work for you should be priority #1. Yet few people ever do it or attempt to even learn about it.
My grandfather always said you have to make money work for you. At one point he owned multiple apartment bldgs that he rented, also owned a few bldgs on the National Historic Register, worked a job with benefits for nearly 40 years, sold or transferred most of his legacy the year before he died but left a decent estate. He said he only needed a good attorney and a good accountant. Btw, he was totally illiterate, never learned to read or write, said everyone he knew who could do those things just had a lot of debt. 😂😂
Maybe watch Lockup Raw, it might have an interview with him and his cellie, talking about chow and what Madoff's new hustle is (perhaps he is now doing prison ink?)
Madoff should have brought a money printer like the fed has, and printed all the money he needed to pay investor. That wouldn't had been a scam, or is the legal scam the fed do all the time
12% return a year, year after year, should have invited some suspicion. You could double your money in 6 years. I would withdraw all my initial investment after 6 years and leave in only the money earned. Greed is the trap.
I’m not “defending” his actions by any means whatsoever but he didn’t come from money to begin with. His boys didn’t want for anything but their grandparents didn’t have a lot of money.
Really? Did you notice these journalists seem to believe Madoff (and raise compassion for him) but not his family, brave sons? I'm afraid Madoff could have narcissistic personality or traits. If he's a narc he lies about missing his children to present himself as a victim in order to get attention, so called 'narcissistic supply'. His 'honest moment' is rather a grab for attention. Since in prison he gets media attention, respect of inmates he is in his paradise! How awful joke (and laugh!) that Madoff would be worse off in the houses of his victims! Disgusting, disrespectful to the victims! Demonizing them while whitewashing Madoff. They quote he was a 'pathological liar' but act if it is irrelevant. Please look up Narcissistic Red Flags, Dr. Ramani. Sam Vaknin (self aware narc with 190 IQ). You may be shocked how many of them you know, see around, on tv. Use your critical thinking to discern. Much better in exposing scams is guy from the channel Calling Scammers. Enjoy:) and God bless you.
That word “sociopath” is thrown around all the time. I don’t think he started with the intention of defrauding clients, I think it snowballed and he had to keep up appearances pretend to the world that he was this maverick investor.
This series looks so interesting, congratulations guys. My word about the aura or appeal of Madoff: I think he had the appeal of quietness, he looks grounded and confident even when things were uncovered. That confidence together with his trajectory inspired trust in big investors, nothing on him looked fishy or dishonest. People were drawn to think that they were lucky to invest in his firm because Madoff was not pushy at all.
People with narcissistic personality, esp covert narcs are very hard to distinguish. Some maybe knew him better, one person said: "I knew Bernie was a crook. That's why I invested with him."
The Banks paid off the Government and the Government dropped the charges on the Banks for fraud. It's this just a wonderful system we have. At position 14:36 it clearly says they paid the Government off.
Bankers always win from us tax payers but only pay us 1% in interest. Banks are corporations. That kind of fraud those banks should have been denied their charters. Clearly they are lawless.
To the folks who experienced being fleeced: It was okay, the exclusivity of being a Madoff client, when the income statements validated you, but the indignation and anger at the guy's exposure, and your own, didn't feel so okay.
And this journalist presents him almost as a victim, poor man. He didn't check if he could be a narcissist. Attention is not on JP Morgan but on the tool. If he is a narcissist this prison is a paradise for him because he gets attention: of media, 'respect' of inmates.
Heartbreaking how his own family died tormented for his sins and so will Ruth who has outlived all of them .I will never believe those sons or his wife knew .
I agree. Especially if he is a covert narcissist or has narcissistic traits. They would suffer more than spoke about because the world's attention was on financial aspects only. They were victims too. JP Morgan should be ashamed.
@@mskay9597 I admire you, Ms K, honestly !...I sustained 2 minutes 45, only because I have wireless headphones and was in the kitchen grilling some chicken wings and putting ice and a couple of other substances in a glass...now, THAT was time well spent //-)
JP Morgan paid $2+ billion and nobody went to jail? I would say there is at least one "big fish" there - swimming as we speak - that should be investigated. What is the chance of that happening?
Makes you wonder why everyone with money in Chase doesn't pull it out? The banks that are complicit in the 2008 crash and will be complicit in the next one (soon) are well known and yet people still do business with them. Idiots deserve to lose their money, and that's EXACTLY what the banks think of them. I took a friend to her bank the other day - Chase. They were giving out SUCKERS by the trade name Dum-Dum. Take the hint, fools...
Not only that but also there was no publicity as to the correctives measures imposed to J.P. Morgan and their alledged completion ? Like everyone just don't want to change the name of the financial game (easy big and fast money made in Wall Street) . Banks don't want to. Government don't want to. All the clients benefitting from the system (unless they lose it all) don't want to. Fake profit & loss statements done and government isn't doing anything. Where is the SEC, where is the IRS ?
Yeah you are right, the biggest faker in history deserves his mug on the fakest Fiat currency, the US dollar. Of course he died a little bit younger than expected, it happens to that ethnic group who prefers to marry their first cousins and carry-on genetic defects generation to generation.
They are not allowed to film any of the interview!!! Listen what they said in the beginning. "Only pen and paper" was allowed! Im not on any ones side but you don't listen. Altogether a sad and tragic story.
Not deep enough. If he had narcissistic personality, maybe of covert narc: controlling, pathological liar then his 'honest moment' would be just a grab for attention. If in the prison he's got attention, 'respect' of inmates, media he's in his paradise. Many narcs are highly functional and are used as politicians, etc. JP Morgan did well but attention is on the puppet.
I got in the stock market (one of the major money managers) in 2006. By 2007 I lost 80% of my investment. I WISH I invested with Bernie Madoff, because people got 60+ % back.
My old boss lost 85% of his total capital . He was an extremely tight individual and wasn’t the best of payers . I am very grateful that karma got him in the end . Ha
I'll never fail to be amazed by the fact that none of these wallstreet goons have ever done a day of work in their lives but yet they make more money than most of us who do.
People who work on Wall Street are ambitious, smart and put in long hours. Your comment reflects your total ignorance of what traders, hedge fund operators, investment banks do. Listen, you can make a great deal of money yourself if you want. Study hard, see patterns, invest when you see the opportunity. I made my first million by age 27 ( 35 years ago) by seeing opportunities. Wisdom is the application of knowledge. Wisdom is what helps you make money.
@@rentslave How many farmers have lost their farms or can barely make ends meet? How many manufacturers have went under due to things being built in China? Are you in high school?
@@rentslave Without finance, your farms couldn't trade and your factories couldn't grow. Finance is what's responsible for modern day trade and commerce, without it you'd be stuck in the dark ages.
So many of his investors were ordinary people who lost all their money. I knew an older woman whose husband invested in Madoff. Her husband was a very decent ordinary man, when retired did volunteer work and she worked almost for free with young children. When husband died she knew very little till the Madoff issue and at age 80 had to rely on family to survive.
He could have narcissistic personality or traits. There's nothing great about having no conscience, manipulating others. Narcs can bring down all nations down give the chance. He destroyed lives of his sons, wife, many good people. He wasn't a Robin Hood. Narcs do hate themselves, create false persona of somebody better than anyone else. Thety go through life using people, bullying, destroying. Just to have attention so now he thrives with all the attention from media, inmates, people like yourself. I hope you joked, and that was sarcasm.
@@LJ-ht4zs HOw sad -- yes, he hurt ordinary people!And his wife had the gall to say she wants her "money back" from those who may have whatremained. Horrific! She's about as guilty as he is.
My heart goes out to those that lost their life savings 401k investment in general and mentally hopefully they can see money isn’t everything. Mentally many of them trust no one
All investors got over 60% of their principle back through government recovery. I don’t feel sorry for the investors. Who guarantees a 12-15% return and assumes all is legit? Most knew something was not right.
why he didnt hop on a private jet and fly to paris is beyond me.150 years is absurd and equally absurd how he quietly walked into 150yrs! victims got cheated by their own personal greed!
Firstly Europe has laws to extradite American citizens back to the states under criminal charges and secondly Madoff’s victims included many prominent family’s in Europe including Paris, France. In other words, fleeing from nyc to Paris would be no different than fleeing from nyc to palm beach.
It’s funny if someone sees me coming they get scared and intimidated,But if they see him coming they have a big smile on there face and give them all the confidence in the world and there Money and yet he’s the one that’s going to take everything from them ..not me.
Please, kindly look up Narcissistic Red Flags, Dr. Ramani, Michelle Lee Nieves, Sam Vaknin (self aware narc with 190 IQ) because you may be feeding some already. Madoff shows traits of covert narc ad it's extremely difficult to recognize them, not to fall for psycho manipulations.
Speaking to Madoff while in prison gives him attention which he seeks. Gives him a chance for input. He wants this ...don't give it to him. I have watched tv special and read about him give no more attention to him. We know how he did it. Give more attention to the victims stories so we know how they were duped. Talk about the evil of lies and bring back the admiration of honest individuals.
The 'victims' were duped because they were greedy and couldn't be bothered to understand that their monthly earnings reports were BS, and the SEC was utterly useless if not criminally incompetent.
Dead ass wrong... this guy took money from everyone. Even his family. some ppl literally committed suicide cuz they lost their entire livelihoods. Im not talking about his son. U shd read the book cuz u couldnt be more wrong.
I think The better way to say that would be many of his investors believed that he was doing insider trading so in reality they were OK with it being a crime as long as it made them money. But, 90% not even close. He took money from people who didn’t even have a lot of money and ruined their lives.
greed , he will meet his maker and have to face what he did to so many people. I see his wife in Greenwich ct she lives near there, she is living very well. people ask did she know.. I have no idea but she lost her son.
Madoff's sons ran the trading operation that Madoff claimed to be using to make the trades, yet they never saw one such transaction. Don't try to tell me that they were "surprised" to learn about the fraud.
There were separate two companies and he called one 'his business'. One son felt used later because father would show their clients well prospering company sons worked for. He kept them away from 'his business'. Look at their actions. They brought in authorities. One son made mother choose between seeing father or grandchildren, set boundaries. Madoff could be a covert narcissist. They use gaslighting, manipulation, emotional abuse, etc. Father destroyed their life. If he is a narc he could be patological liar. He had audacity to regret pleading guilty as if he was innocent. That's typical for narcs to show themselves as victims. And shame for these journalist for whitewashing him, raising compassion for him, believing him but not family.
I would go further. You cannot beat the system period. However what you can do is manipulate the system to your advantage. Now the really successful people know this and cut their cloth accordingly. Trouble is people like Bernie L Madoff don't realise this and go too far.
The all time con was Jim Cramer on his Mad Money Show saying Bear Stearns was a safe bet at $62.00 a share in March of 2008. Two days later, it dropped to $2.00 a share. Cramer said that to get his money out before the stock crashed. CNBC still has him on the air.
Did any investor get in and out of the ponzi scheme unharmed before it collapsed? He operated between 1960 and 2008; as early as 1999 there were serious questionings of his results. I would love to hear stories of investors who were able to cash in their earnings and recover the funds before it collapsed. There must be investors who pulled out successfully in the 80s, and 90s.
I just watched another documentary and they said he returned to his investors around 18B so yes many definitely profited...but 18B is still not accounted for -and he personally spent (and his family) around 20 B!
We are a product of our culture. Grow up in high Finance? That’s what you are. Bernie was NOT an evil person. He thought people loved (admired) him because he had money. Not true. They loved him. Half of all gifts are the manner in which they are received.
Far-out a big Thankyou to Raskinvest Australia, I was so close to losing all my money. It's scares, me thinking about what could off happened. The whole family has suffered , because of money.. Crazy .
He could have narcissistic personality or such traits (controlling, pathological liar, no remorse: regrets not pleading 'no guilty'). His 'honest moment' could be a grab for attention. If appeared unassuming could be a 'covert narc'. Look up Dr. Ramani (for a start), 'Narcissitic Red Flags', well known, self aware narc Sam Vaknin with190 IQ who stole millions from the bank he worked for.
For those (inmates) that have financial questions, they may as well ask Bernie Madoff. What does that do to a guy like that’s ego that even the prisoners respect him?!
If he is a narcissist (Narcissistic Personality Disorder or traits) he lives in paradise getting thugs attention, from media, curious people, and trust of such 'journalists' who raise compassion towards him. They believe him ('missing children') but not family. NO time for exposing role of regulators, JP Morgan Chase.
That’s crazy how a Ponzi schemer can get more time than a murderer. But you have to think of all the lives shattered and people who became pretty much destitute when their life savings were lost because of it.
I doubt many became "destitute", though they may have been forced to sell their "palaces" and other assets and forced to live a more humble existence, more like a more average existence.
@@counterflow5719 Well, if he had narcissistic personality (maybe of covert narc: controlling, pathological liar, unassuming looking) he's in his paradise because gets attention of media, inmates. That's all narcs need, it's called 'narcissistic supply'
Some if not most of the savvy big money investors with Madoff knew he was likely doing something illegal or at least had "inside" knowledge, and they wanted in on the action. Little did they know that they were in fact who he was stealing from! The real tragedy involves the ones who lost money when he started defrauding the feeder funds. The victims from that had never even heard of Bernie Madoff until they were told they lost all their money to funds that should have been safe. And rightly so, those people were the first to get reimbursed I believe.
He missed his true calling. He could be free today if he was a politician.
Susi Brooks 😂
Clintons wouldn’t even be investigated. “We burned the records. Was that wrong?” Lmao 🤣
He will be pardoned
Madoff is a political prisoner, he was railroaded by the US government. In order to steal 65 billion dollars, he would have needed to steal 6 million dollars a day, every day for 30 years. What did he do with the money? How do you spend 6 million dollars a day? Madoff only had a few million dollars in assets. What does an old man need 65 billion dollars for? IT's all a Lie. Also, American greed is a big LIE. It is communist party propaganda.
@@shebastinson7813 Trump has ZERO reason, and certainly will NOT!
Someone, back then said, "I knew Bernie was a crook. That's why I invested with him." It wasn't that hard to see that no portfolio in history had never had a down year. It was right in front of them. People work hard for their money and don't give much thought when they invest. Happens all the time.
And now he wants medical release because he’s sick. I remember Axios accidentally put on Twitter that Bernie Sanders was seeking compassionate release from his 150 yr prison sentence. 🤣🤣 What an awful mixup!
@@alisonfriedman5288 I recently saw a woman who was at a dinner party and mentioned she wondered if Bernie was actually legitimate. She made the mistake of questioning his integrity. And another woman piled into her...how dare she question such a wonderful man who has done so much for the community. After that, she said she just kept her mouth shut, I hope smart enough to start pulling money out. You know not one single trade was ever made? No one bothered to follow a stock order request to see if it was actually posted on the exchange.
@Calm down fake cop 1 True
Because they believe the system is safe.
He couldn't have done it without the investors greed. Don't feel sorry for anyone of them.
How rich people think: "He wasn't ostentatious about his wealth. He just had a bunch of yachts, a home in Palm Beach, a home in Montauk, a home in Manhattan. He was living well." 😆
Ostentatious must be relative. Maybe the guy meant Madoff wasn't ostentatious in comparison to Trump's display of wealth? Regardless, how many yachts, homes, pairs of shoes, and other stuff does one need or even want? I think you'd get bored after awhile and not use most of it.
@@jenniferwilcox9759 Yes. I know. Scott was saying that in comparison to other people with extreme wealth. It's simply funny because any average American would consider having a bunch of yachts and multiple homes to be highly ostentatious
Lol...isn’t that the truth. It’s just amazing....
He is right. Bernie would have been able to access those kind of items and lifestyle if he lived straight, if he did not commit the con. So what is the reward? Not the money or things.
You forgot about his homes in Europe ..... just saying. 🙂
This guy just said in so many words the federal prison seemed like a sweet life like on a college campus
Where Bernie was. Regular people get the rough prisons.
It is different from the State prisons. The food, pay and work ethic is different. The Federal vs State is just no match when it comes to money.
If he is a narcissist he's in his paradise: gets attention of inmates, media.
Not true… there are some state prisons that are nicer then some fed.. lots of variables.. the old wise tale of if I’m ganna go to prison I hope I go to fed… not exactly true..
When I am in the grocery store, I hear soccer moms in flipflops and construction guys talking about crypto. This is gonna be good.
Sammy sammy
Jokes on you. Cashed out 400% returns. 😂😂😂😂😂😂😂
Speaking of greed...I noticed how that photographer shoved Madoff so he could get a picture.
Funny footnote
The DeVos's have the biggest longest running pozi scheme ever. Amway.
What a price to pay for greed. You can never underestimate the stupidity of humanity.
So true. So much for people who believe in the goodness of human nature.
IT IS SAID THAT MONEY IS THE ROOT OF ALL EVIL.THE TRUE MEANING IS
IS US HUMANS THAT TURN ITTO. EVIL....
His horrible wife Ruth and his lame sons were all involved and they are liars!! They knew!! So look at them know? Rotting and with Ruth, slowly 🐌 Rotting.. she lives on Virginia slims and Valium
Reminiscent of the Elizabeth Holmes case. People in the US appear to trust a certain image.
GREED IS GOOD 👍 MADOFFS PONZY 65 BILLION
The only people that lost money we're the last ones in..everyone else is guilty of guilt..not only madoff
This journalist seem to believe Madoff, 'pathological liar' but not his victims (i.e. family). No word on possibility of him being covert narcissist. No focus on the role of JP Morgan.
Hard to believe it has been 10 years.
The irony of his last name always give me the giggles 🤭 he literally MADE OFF .... I’ll see myself out 😋😂
Caught up in the Napture yes!!
I pronounced it as mad off
Yeah he MADE OFF to a jail cell for 150 years!
EXACTLY..CROOK!
Lol....
I find the irony of this hilarious. He lived off others when he was free and now he lives off others in prison with the added bonus of great healthcare. What a joke.
He’s in a cage and brought his family great shame. Trust me they will always carry that burden bc people will always figure his wife and sons knew all along. Plus one of his sons killed himself from the shame.
@@2GsCanRapTVwhat are you talking about he lost both sons, his dead, and ppl will never get there money back
@@bridgettmcgivney2471 at the time it was only one son, he was alive and idk that’s what they get for having not done their due diligence 🤣🤣🤣
I'm fascinated by people like Bernie Madoff, not because of the big amounts or the scandal or all the more 'flashy' aspects of this story, but for that one moment when a person makes a choice and it all snowballs from there. I watched one investigation into him and it reported that in the early days, when he was just starting out and his wife was doing his bookkeeping (briefly)... he was just an ordinary guy, making an honest living. What was that moment when he felt like he needed to make that one bad deal - sell more to one person in order to pay off another, I guess, with actually nothing to sell? Because if he didn't sit at home plotting to create the mess he created (and from what I heard, he didn't really plan it; it wasn't like he was looking for a chance to start a massive Ponzi scheme), then at some point he must have got into some trouble, and decided to 'rob Peter to pay Paul,' invent some investment that never happened to get some new investors to pay off other investors when something went sour. And then it seems like he just got in deeper and deeper and eventually 'it' was controlling him, and he was not controlling it. It seems like he really did everything to keep his family in the dark, to keep his wife and sons (even when they worked for him) absolutely separate from any of his illegal activities so they would not be implicated when it all collapsed. But what was that one step, that one decision, that one moment that set him on this path? That's always the question that fascinates me most.
To a normal honest people it may happen, a moment in time, a mistake, even a series. But there are people with personality disorders. There's not enough knowledge about them and for most people it's very difficult or impossible to see through their web of lies, not to fall for their psycho manipulations. I have a lot of experience with narcissists (NPD) and they may be describing here a narc, maybe a covert narc: sociopath, controlling his office, controlling narrative, pathological liar, looking unassuming. His 'honest moment' could be a grab of attention. Only sensitive narcs may sometimes honestly apologize but it does not change anything, they'll keep abusing others . They feed on attention, positive or negative, it's called 'narcissistic supply'. Someone with such character doesn't change. Maybe earlier was 'helping' his 'favorite' clients and was lucky it wasn't discovered. If in the prison he's got attention, 'respect' he's in his paradise. Many narcs are highly functional and are used as politicians, presidents, etc. He served JP Morgan well. Maybe their attention, admiration of 'favorite clients' gave him attention, 'respect' he crave for and made doing more to keep it. Look at well known narc Sam Vaknin, with 190 IQ, researching this subject. He embezeld millions while working in the bank. Maybe the man who brought down Leman had narcissistic traits or personality. Maybe Elizabethh Holmes of Theranos. Look up Narcissistic Red Flags, dr Ramani, Michelle Lee Nieves (for a start). Spend few months studying it and you may be shocked how many such people you know, see on tv. They're not to be admired but ostracised, avoided. They know what is wrong or good but follow their tendencies, use others to regulate their emotions, satisfy needs. They were traumatized, broken or spoiled children but may hurt like only a sadistic adult can. The most amazing of their tactisc is 'narcissistic projection': they will accuse a victim of doing evil they do to their victims. Such strong is their ego in rejecting any of their wrong doings. They know somebody lies, cheat but will accuse their spouse, coworkers. While the victim is upset, try to reason they enjoy the show, feeling powerful, having impression they control this person and the situation, and having (false) sense of security. I used the word 'normal' people.. The're not mentally sick, it's not a disease, you can't cure it. Althought there are some therapies. Most of them won't see any need for a change because they seem to thrive while destroying their family, children, community, country. Some know who they are and are bragging about it. Because as a child they created a false persona of somone omnipotent, better than anyone else, entitled. Everything in oposition to a weak, scared child full of toxic shame. They go through life buling, destroying others. Often they run away into addiction from the pain of truth about themselves. May become a hoarder because people keep rejecting them but thinngs do not. It's impossible to help them with kindness. They are predators, pray on kind, helpful people. Someties only loosing everything they care for may give them strong enough motivation to accept they may be a source of the problem, not the world, and seek help. Therapy may help them feel safer. If Mr Madoff is a narc even now he does not have enough motivation to change anything because he's got attention (of thugs, media, yours).
I dont understand the amount of greed involved, he was a multi millionaire, many times over from his legit buisiness, he had more than enough money to live in luxury......
@@bobbertee5945 If he was a narcissist then he followed his tendencies. They are never satisfied, they crave for attention, admiration, and believe will get away with anything coz they are the smartest. Look up NPD, see how Sam Vaknin speaks, he stole milions from the bank he worked for. I love his honesty. He explain how he thinks, function, does research. He said he's still a narcissist. Think about narcs used to rule corporations, governments, etc.
From what I understand it started with his first group of clients early in his career. He had about 20 clients and about $50,000 in investments for his clients. These were legit trades. But the market crashed and he lost all of his clients money. He felt bad because he encouraged them to take these trades and he didn’t want to tell them he lost all of their money. So instead of being honest, he borrowed money from his father in law to cover the losses. Ultimately, it made him look like a genius. When everyone lost money his clients didn’t or so they thought. It led to more clients and it he became highly sought after. He build his clientele and in order to keep his reputation of a guy that always get you returns with little to no loses, he started robbing Peter to pay Paul. It just grew from there.
Greed ... Plain and simple, when having it good isn't good enough 😢SAD.
The financial sector urgently needs to be regulated back again. The rules which had been established after the 1929 crash and then removed by Reagan and Clinton has to be put in place again. The States stop guaranteeing savings, pensions funds, insurances long time ago. Basically between the 80s and the 90s the financial subjects have been allowed to gamble using the common people money. Unfortunately people, though the many scandals, seem to be anaesthetised. Occupy Wall Street should have been a massive protest and not left to just few dozens brave volunteers.
Reagan and Clinton didn’t do squat!! It was the legislators that put the bill together by a margin of 95% or better. And you voted these people into the office
Agreed. All SEC parties need to be investigated as to why nothing was done when it was repeatedly brought to their attention. Not doing their jobs - seems not good enough.
absolutely, Mark, 100%, The regulation has to be PUT BACK!!! C'on!
And this is why they never teach kids about money in school. They want you ignorant. It wasnt until late in my life what I learned what I was missing. Making your money work for you should be priority #1. Yet few people ever do it or attempt to even learn about it.
My grandfather always said you have to make money work for you. At one point he owned multiple apartment bldgs that he rented, also owned a few bldgs on the National Historic Register, worked a job with benefits for nearly 40 years, sold or transferred most of his legacy the year before he died but left a decent estate. He said he only needed a good attorney and a good accountant. Btw, he was totally illiterate, never learned to read or write, said everyone he knew who could do those things just had a lot of debt. 😂😂
This has bored me within minutes. Where is the interview?
lmao
He took in a notebook and pencil. What interview are you expecting?
Maybe watch Lockup Raw, it might have an interview with him and his cellie, talking about chow and what Madoff's new hustle is (perhaps he is now doing prison ink?)
They like talking about what they have done.
@@mikesully110 hahahaha
Madoff should have brought a money printer like the fed has, and printed all the money he needed to pay investor. That wouldn't had been a scam, or is the legal scam the fed do all the time
12% return a year, year after year, should have invited some suspicion. You could double your money in 6 years. I would withdraw all my initial investment after 6 years and leave in only the money earned. Greed is the trap.
It did invite suspicion. It was an open secret in the industry he was a scam. A lot of smart money got the sales pitch and walked away.
Wall Street laws and oversight need to be back since insider trading is common. Billionaires made a fortune on COVID. It has to be insider trading.
He lives better than most hardworking Americans. Shame but true. Put him into a work, let him sweat so he can see how you make honest money.
I’m not “defending” his actions by any means whatsoever but he didn’t come from money to begin with. His boys didn’t want for anything but their grandparents didn’t have a lot of money.
@@Velvetmetal grandparents? What about the actual godfathers? Looking for something?
At 13.37 it was ironic people asked: "Hey Bernie, I need to find some losses for my taxes, can you help?"
I love watching the tv show American Greed!! It alerts me of any scam. Thank you guys. Continue with your great job!
Really? Did you notice these journalists seem to believe Madoff (and raise compassion for him) but not his family, brave sons? I'm afraid Madoff could have narcissistic personality or traits. If he's a narc he lies about missing his children to present himself as a victim in order to get attention, so called 'narcissistic supply'. His 'honest moment' is rather a grab for attention. Since in prison he gets media attention, respect of inmates he is in his paradise!
How awful joke (and laugh!) that Madoff would be worse off in the houses of his victims! Disgusting, disrespectful to the victims! Demonizing them while whitewashing Madoff. They quote he was a 'pathological liar' but act if it is irrelevant. Please look up Narcissistic Red Flags, Dr. Ramani. Sam Vaknin (self aware narc with 190 IQ). You may be shocked how many of them you know, see around, on tv. Use your critical thinking to discern. Much better in exposing scams is guy from the channel Calling Scammers. Enjoy:) and God bless you.
He is not a sociopath, he is a narcissist. That’s all.
That word “sociopath” is thrown around all the time. I don’t think he started with the intention of defrauding clients, I think it snowballed and he had to keep up appearances pretend to the world that he was this maverick investor.
I was thinking the same thing: narcissistic personality disorder. Classic. Incapable of empathy.
This series looks so interesting, congratulations guys. My word about the aura or appeal of Madoff: I think he had the appeal of quietness, he looks grounded and confident even when things were uncovered. That confidence together with his trajectory inspired trust in big investors, nothing on him looked fishy or dishonest. People were drawn to think that they were lucky to invest in his firm because Madoff was not pushy at all.
He also approached new investors under the guise that he was very selective but would consider them as potential clients.
Con- man, confident man.
A Jewish guy that wasn’t pushy? Surprise!
People with narcissistic personality, esp covert narcs are very hard to distinguish. Some maybe knew him better, one person said: "I knew Bernie was a crook. That's why I invested with him."
The Banks paid off the Government and the Government dropped the charges on the Banks for fraud. It's this just a wonderful system we have. At position 14:36 it clearly says they paid the Government off.
Bankers always win from us tax payers but only pay us 1% in interest. Banks are corporations. That kind of fraud those banks should have been denied their charters. Clearly they are lawless.
To the folks who experienced being fleeced: It was okay, the exclusivity of being a Madoff client, when the income statements validated you, but the indignation and anger at the guy's exposure, and your own, didn't feel so okay.
.. looking the other way because they profited.
And this journalist presents him almost as a victim, poor man. He didn't check if he could be a narcissist. Attention is not on JP Morgan but on the tool. If he is a narcissist this prison is a paradise for him because he gets attention: of media, 'respect' of inmates.
Had he been a politician, he would be alive today.
Heartbreaking how his own family died tormented for his sins and so will Ruth who has outlived all of them .I will never believe those sons or his wife knew .
I agree. Especially if he is a covert narcissist or has narcissistic traits. They would suffer more than spoke about because the world's attention was on financial aspects only. They were victims too. JP Morgan should be ashamed.
Given aftermath, there is no way his sons knew. His wife most likely didn't know either just based on the fact that he had no reason to tell her.
his family turned him in.
Ruth and his sons are really likeable, don't seem like Bernie at all.
So sad what he did to his sons
He didn't think of that, did he?
Yeah unfortunate
One of them hung himself
A French nobleman terri delvelacheaut slit his own wrist
And one other dude was found in his pool
Both his sons were degenerates who were borrowing $10 million at a time from their father to pay for personal debts
Hard to believe they did not figure out what was going on. He says they did not know......well, it could be the only gift he left them.
I agree that Madoff shouldn't be given a soapbox. Especially since this podcast adds nothing.
It's also strange that NASDAQ is still going. Why was Madoff arrested again??? They are still using his financial infrastructures.
150 year sentence for Madoff is out of proportion compared to what politicians can get away with.With out prosecutions
What a weak report. Nothing new revealed in this.
True, there is no revealing details, Waste of time,
ya
Yeah like they just woke up and said"what can we do, today???🤔"
Agreed! Couldn’t even finish the video lol
@@mskay9597
I admire you, Ms K, honestly !...I sustained 2 minutes 45, only because I have wireless headphones and was in the kitchen grilling some chicken wings and putting ice and a couple of other substances in a glass...now, THAT was time well spent //-)
Those two guys voices are unique. Good job guys 💡💡👏🏽👏🏽👏🏽
YES!!!.!CNBC ABC ,NBC ETC. NEVER HIRE CLOWNS ..LOVE THIS KIND OF REPORTERS .ON POINT!
The smaller guy Yes. The big husky guy No.
He's no longer America's most famous conman. We just removed that one from the White House.
JP Morgan paid $2+ billion and nobody went to jail? I would say there is at least one "big fish" there - swimming as we speak - that should be investigated. What is the chance of that happening?
Makes you wonder why everyone with money in Chase doesn't pull it out? The banks that are complicit in the 2008 crash and will be complicit in the next one (soon) are well known and yet people still do business with them. Idiots deserve to lose their money, and that's EXACTLY what the banks think of them. I took a friend to her bank the other day - Chase. They were giving out SUCKERS by the trade name Dum-Dum. Take the hint, fools...
signalfire6 -“I find no fault with this gimme gimmick “🤣
*Tony; Learn How to Speak!!!! NOT MumbLe JumbLe!!!!*
Zero I’d think
Not only that but also there was no publicity as to the correctives measures imposed to J.P. Morgan and their alledged completion ? Like everyone just don't want to change the name of the financial game (easy big and fast money made in Wall Street) . Banks don't want to. Government don't want to. All the clients benefitting from the system (unless they lose it all) don't want to. Fake profit & loss statements done and government isn't doing anything. Where is the SEC, where is the IRS ?
Madoff's picture belongs on the U.S. $100 bill. It fits.
Yeah you are right, the biggest faker in history deserves his mug on the fakest Fiat currency, the US dollar.
Of course he died a little bit younger than expected, it happens to that ethnic group who prefers to marry their first cousins and carry-on genetic defects generation to generation.
😂😂😂🤣🤣🤣🤣
His picture belongs on the $3. bill. Oops sorry, it doesn't exist!
To think both boys are gone, the dad is now gone and I can’t imagine the moms heartache.
She wasn't unaware......
She has grandchildren to live for ❤
Bernie is the 21 century Jessie James!! An old 'dyed in the wool' American hero! Ride on B.M. you're still the KING!
They are not allowed to film any of the interview!!! Listen what they said in the beginning. "Only pen and paper" was allowed!
Im not on any ones side but you don't listen. Altogether a sad and tragic story.
The only thing sad I see about it is the victims and the sons children.
His son paid the price.
He did not have to. Suicide is always a cowardly move. No excuse.
The best specimen of American Greed, Ponzi master Bernard Madoff!!
GREAT DOCUMENTARY AND REPORTERS.ON POINT!!🔌🔌🔌
Not deep enough. If he had narcissistic personality, maybe of covert narc: controlling, pathological liar then his 'honest moment' would be just a grab for attention. If in the prison he's got attention, 'respect' of inmates, media he's in his paradise. Many narcs are highly functional and are used as politicians, etc. JP Morgan did well but attention is on the puppet.
Vid: Bernie Madoff was a bad guy
Entire comment section: ACHYUALLY
Anybody watching this after his death in April 2021?
So
The best part of any Madoff segment is the sharp stiff-arm that cameraman hits him with. Excellent form.
0:09 And he gets the shot after it! Old pro.
Sorry to say "if I was greedy maybe I am a victim of a greedy person". We should live within our limits.
Madoff could play The Joker! He looks just like the character!! lol
I got in the stock market (one of the major money managers) in 2006. By 2007 I lost 80% of my investment. I WISH I invested with Bernie Madoff, because people got 60+ % back.
My old boss lost 85% of his total capital .
He was an extremely tight individual and wasn’t the best of payers . I am very grateful that karma got him in the end . Ha
Greed, lying and stealing destroys your life’s achievements.
Tell that to our US government
Died today in prison. He was 82 yrs. old.
Thankfully He will NOT be missed
He was in a good position to invest his $40B cash during the 2008 crisis and turn his fantasy into reality.
Very well said
Madoff is very proud of what he’d done.
Maybe has narcissistic personality. Many of them are proud of being 'better than anyone else'.
Shameful man!
Excellent interviewer, great questions.
I'll never fail to be amazed by the fact that none of these wallstreet goons have ever done a day of work in their lives but yet they make more money than most of us who do.
People who work on Wall Street are ambitious, smart and put in long hours. Your comment reflects your total ignorance of what traders, hedge fund operators, investment banks do. Listen, you can make a great deal of money yourself if you want. Study hard, see patterns, invest when you see the opportunity. I made my first million by age 27 ( 35 years ago) by seeing opportunities. Wisdom is the application of knowledge. Wisdom is what helps you make money.
@@lightworker4512 It's farming,mining,manufacturing ,etc. that produce real wealth,not paper shuffling to benefit only self.
@@rentslave How many farmers have lost their farms or can barely make ends meet? How many manufacturers have went under due to things being built in China? Are you in high school?
@@rentslave paper shuffling? You are clearly ignorant.
@@rentslave Without finance, your farms couldn't trade and your factories couldn't grow. Finance is what's responsible for modern day trade and commerce, without it you'd be stuck in the dark ages.
He missed his calling, would of made a fantastic televangelist!!!
Agreed!!!!!!! And he would be walking . Those fools are frauds and walk around..
Madoff is a hero,he made all the rich greedy people looks like fools.god bless him.
So many of his investors were ordinary people who lost all their money. I knew an older woman whose husband invested in Madoff. Her husband was a very decent ordinary man, when retired did volunteer work and she worked almost for free with young children. When husband died she knew very little till the Madoff issue and at age 80 had to rely on family to survive.
He could have narcissistic personality or traits. There's nothing great about having no conscience, manipulating others. Narcs can bring down all nations down give the chance. He destroyed lives of his sons, wife, many good people. He wasn't a Robin Hood. Narcs do hate themselves, create false persona of somebody better than anyone else. Thety go through life using people, bullying, destroying. Just to have attention so now he thrives with all the attention from media, inmates, people like yourself. I hope you joked, and that was sarcasm.
@@LJ-ht4zs HOw sad -- yes, he hurt ordinary people!And his wife had the gall to say she wants her "money back" from those who may have whatremained. Horrific! She's about as guilty as he is.
150 years.
Only in America
My heart goes out to those that lost their life savings 401k investment in general and mentally hopefully they can see money isn’t everything. Mentally many of them trust no one
All investors got over 60% of their principle back through government recovery. I don’t feel sorry for the investors. Who guarantees a 12-15% return and assumes all is legit? Most knew something was not right.
J
J
J
@@label1877 12-15 wasn’t much to raise a flag
The only person Bernie ever felt sorry for was himself.
The Fed does same thing
True dat
The greatest Con man of all time.
❤❤❤❤❤
WHY DO WE GIVE PEOPLE LIKE HIM A PLATFORM!!!!!!!!!
Those who don't know history are destined to repeat it or be taken advantage of by it.
why he didnt hop on a private jet and fly to paris is beyond me.150 years is absurd and equally absurd how he quietly walked into 150yrs! victims got cheated by their own personal greed!
Firstly Europe has laws to extradite American citizens back to the states under criminal charges and secondly Madoff’s victims included many prominent family’s in Europe including Paris, France. In other words, fleeing from nyc to Paris would be no different than fleeing from nyc to palm beach.
It’s funny if someone sees me coming they get scared and intimidated,But if they see him coming they have a big smile on there face and give them all the confidence in the world and there Money and yet he’s the one that’s going to take everything from them ..not me.
@ 10469 - What if Trump pardons him ?
@@enniswhalen2428 Would that make it OK if he pardon someone who stole billions of dollars? Who was sentenced by the court to life in prison.
@@10469 - I would say that the answer is "No! ", but 'tis the season for a bunch of criminals being pardoned . . . .
Please, kindly look up Narcissistic Red Flags, Dr. Ramani, Michelle Lee Nieves, Sam Vaknin (self aware narc with 190 IQ) because you may be feeding some already. Madoff shows traits of covert narc ad it's extremely difficult to recognize them, not to fall for psycho manipulations.
Lesson learned: never trust anyone with ur life saving.
Speaking to Madoff while in prison gives him attention which he seeks. Gives him a chance for input. He wants this ...don't give it to him. I have watched tv special and read about him give no more attention to him. We know how he did it. Give more attention to the victims stories so we know how they were duped. Talk about the evil of lies and bring back the admiration of honest individuals.
Agreed. This podcast adds nothing. Not sure what the point is.
The 'victims' were duped because they were greedy and couldn't be bothered to understand that their monthly earnings reports were BS, and the SEC was utterly useless if not criminally incompetent.
Agreed! So well said.
Bernie learned the hard way - you do not Jew a Jew
Oh please. Most people who invested with him
We’re very rich and about 90 percent of the money has been recovered
Smarty Jonez references???
Dead ass wrong... this guy took money from everyone. Even his family. some ppl literally committed suicide cuz they lost their entire livelihoods. Im not talking about his son. U shd read the book cuz u couldnt be more wrong.
I think The better way to say that would be many of his investors believed that he was doing insider trading so in reality they were OK with it being a crime as long as it made them money. But, 90% not even close. He took money from people who didn’t even have a lot of money and ruined their lives.
An American Hero. God bless Madoff
*JeHoVah GOD, has a Nice Warm Cozy PLace for DeMonics, such as You Fake Name!!!*
*Your FaKe Name, Won't FooL GOD!!!!*
Yeah sure fool
greed , he will meet his maker and have to face what he did to so many people. I see his wife in Greenwich ct she lives near there, she is living very well. people ask did she know.. I have no idea but she lost her son.
Peanuts compared to Trump's lies.
I feel sad that his sons have passed AWAY..I BELIEVE that his sons did NOT know their FATHER was such a DISHONEST..MAN...
I think the one who committed suicide knew
Isn't it sad how normal non violent offenders can die of neglect in our prison system, but this man who harmed so many gets it easy.
@Donnell Mihoch with medical care. Unlike the austere situation regular prisioners must endure. Including the cost shifts to their families.
I can tell you right now that the only person who’s thumbs’d down this video is Maddoff himself
There are now 18 of his relatives.
The Fozzy Bear 307 now
Madoff's sons ran the trading operation that Madoff claimed to be using to make the trades, yet they never saw one such transaction. Don't try to tell me that they were "surprised" to learn about the fraud.
There were separate two companies and he called one 'his business'. One son felt used later because father would show their clients well prospering company sons worked for. He kept them away from 'his business'. Look at their actions. They brought in authorities. One son made mother choose between seeing father or grandchildren, set boundaries. Madoff could be a covert narcissist. They use gaslighting, manipulation, emotional abuse, etc. Father destroyed their life. If he is a narc he could be patological liar. He had audacity to regret pleading guilty as if he was innocent. That's typical for narcs to show themselves as victims. And shame for these journalist for whitewashing him, raising compassion for him, believing him but not family.
Should have been titled "The Courtship of Bernie Madoff".
Madoff was a scapegoat.
140 years to go!
These guys have a great rapport. Nice analysis.
If there's something I've learned from wAtching videos of this over the years....
Nobody, and I mean nobody ever beats the market
Yes. They can do well in the market if they are intelligent, but beating the market is the realm of crooks like Bernard Madoff.
@@scallaghan2118 agreed
@@sleepn_on_me2473 Yep, that one should be encrypted in all corners of Wall Street.
I would go further. You cannot beat the system period. However what you can do is manipulate the system to your advantage. Now the really successful people know this and cut their cloth accordingly.
Trouble is people like Bernie L Madoff don't realise this and go too far.
You never heard of Joe Kennedy then
The all time con was Jim Cramer on his Mad Money Show saying Bear Stearns was a safe bet at $62.00 a share in March of 2008. Two days later, it dropped to $2.00 a share. Cramer said that to get his money out before the stock crashed. CNBC still has him on the air.
He and his family got justice / karma
Avraham Avraham his son’s death isn’t justice
They should have called this a podcast
Did any investor get in and out of the ponzi scheme unharmed before it collapsed? He operated between 1960 and 2008; as early as 1999 there were serious questionings of his results. I would love to hear stories of investors who were able to cash in their earnings and recover the funds before it collapsed. There must be investors who pulled out successfully in the 80s, and 90s.
I just watched another documentary and they said he returned to his investors around 18B so yes many definitely profited...but 18B is still not accounted for -and he personally spent (and his family) around 20 B!
We are a product of our culture. Grow up in high Finance? That’s what you are. Bernie was NOT an evil person. He thought people loved (admired) him because he had money. Not true. They loved him. Half of all gifts are the manner in which they are received.
anybody else is e-learning and was assigned to watch dis vid. i gotta take 10 notes
me too
I don’t think the sons knew. They were embarrassed and shocked.
Yeah sure
Only one way to know.
Aw, a bunch of billionaires became millionaires. Poor things.
😪
When Madoff was in Butner, only 3 people had visiting authorization. His wife, attorney & a guy named Rich Towsley from Sarasota, Fl.
He'll probably meet Elizabeth Holmes soon.........
I dont think they house men and women together.
Shes disgusting
@@ryanharrington6389 But you'd smack dat ass, don't lie
She’ll never go to prison
I've done my research on this and I disagree with Mr. Cohen ... the sons did know, they had to know!
Far-out a big Thankyou to Raskinvest Australia, I was so close to losing all my money.
It's scares, me thinking about what could off happened.
The whole family has suffered , because of money..
Crazy .
He could have narcissistic personality or such traits (controlling, pathological liar, no remorse: regrets not pleading 'no guilty'). His 'honest moment' could be a grab for attention. If appeared unassuming could be a 'covert narc'. Look up Dr. Ramani (for a start), 'Narcissitic Red Flags', well known, self aware narc Sam Vaknin with190 IQ who stole millions from the bank he worked for.
Factz I did 12 yrs and I know this for a fact he will well respected behind them walls
For those (inmates) that have financial questions, they may as well ask Bernie Madoff. What does that do to a guy like that’s ego that even the prisoners respect him?!
If he is a narcissist (Narcissistic Personality Disorder or traits) he lives in paradise getting thugs attention, from media, curious people, and trust of such 'journalists' who raise compassion towards him. They believe him ('missing children') but not family. NO time for exposing role of regulators, JP Morgan Chase.
Wow!! This story Never getz old.
Do a shot every time they say ‘aura’.
what a legend!!!
That’s crazy how a Ponzi schemer can get more time than a murderer. But you have to think of all the lives shattered and people who became pretty much destitute when their life savings were lost because of it.
I doubt many became "destitute", though they may have been forced to sell their "palaces" and other assets and forced to live a more humble existence, more like a more average existence.
@@counterflow5719 Well, if he had narcissistic personality (maybe of covert narc: controlling, pathological liar, unassuming looking) he's in his paradise because gets attention of media, inmates. That's all narcs need, it's called 'narcissistic supply'
Finally a good use for Maddof, FERTILIZER
Some if not most of the savvy big money investors with Madoff knew he was likely doing something illegal or at least had "inside" knowledge, and they wanted in on the action. Little did they know that they were in fact who he was stealing from! The real tragedy involves the ones who lost money when he started defrauding the feeder funds. The victims from that had never even heard of Bernie Madoff until they were told they lost all their money to funds that should have been safe. And rightly so, those people were the first to get reimbursed I believe.