Craziest part of this story is that he was an innovator. He was the first broker to use computers for buying and selling large amounts of securities instantly. Largest expense when he started his firm was buying the computer. He could have traded huge amounts of securities legitimately, and died a billionaire..
I don’t even think he did! He probably took the idea from someone else and he claim the glory! He was a narcissist, narcissist lies become their life take credit of other talented people. His only talent was he was a con artist.
I think one of the other videos says he did not trade securities, they could not find his securities. Perhaps he simply needed a story to cover the question of where the money he claimed he earned came from.
@@mariapilarme Well what happened to all that $65 Billion that was in Bernie's fund? Do you think Bernie spent it all? Come on man, some one still has a piece of that money. Government should do an audit and account for where that money went. FOLLOW THE MONEY! SEC still protecting some people who are guilty! Bernie did not do this all on his own. Someone else or a fund was helping him. Come on man, Perhaps Biden family or Clinton family was involved. CNBC and main stream MEDIA is still not doing their jobs, do some journalism, investigate this mess. What happened to the people who lost money? Give us names and loses..... Come on man, do not be so naive!!!! Do not believe all that MSM tells you!
Criminals like Bernie don't "just" do things. It was a calculated guilty plea. The system (people, coorporations, etc..) that allowed this all to happen still runs rampant.
@@johnanthenreyes9028 His sons grew up in the worst conditions possible. Yes, they had what money buys but not much else which makes for a terrible life when something goes wrong. In short, they had to have known but didn't have the courage to do something about it or simply dig deeper.. they Feared their father the way an abused dog fears the hand that feeds them. go on over to superstonk on reddit. there is a scam going on right now that Bernie started. Sort by top and all time. Happy Sunday! :D
@@johnanthenreyes9028 I do not think his sons are as guilty as the Securities and Exchange Commission ( SEC ) Whose job it is to over see trading activities. They are to do audits, and protect the people. Scandalous activities by the SEC. SEC should be disbanded for not performing their duties. Same thing for the FBI, who are paid with our tax dollars. Time for all these criminals to be exposed and pay for their stealing Ways.
I’m sorry but there’s NO WAY he acted alone, & for him to willingly take the guilty plea, & not name names tells us there were wayyy more big names involved that he’d never be able to snitch on.
@@meddem1744 My dream is that someday I will be a famous painter and earn millions selling my works of art. A little like the president's son does. That is completely legitimate and one would never go to jail.
This guy just amazes me. Here is an innovator. A man wanting automation where it was critically needed, and providing it. He had a period where he lost money for clients. He just couldn't stand to be seen as a failure even just temporarily. Every person has setbacks at times, but a fatal flaw in this man's character derailed him. Ironically his entire life was a loser life because of the massive pain he caused. His name will eternally be associated with criminal, psychopathy.
Great point and I agree, if he owned up to the losses he made the first time instead of taking a loan from his father in-law to cover his tracks, this would've never happened. I feel that money wasn't his sole motivation, Madoff was a people pleaser and it cost him big time.
Wow, you liked him 🤯 .... he was not a good person. He ruined so many average people, not millionares that would be reasonably ok in the future. He ruined so many families. People killed themselves because of this man.
Very well put! The US Government and the Political Indentured Servants on Capitol Hill make Bernie Madoff look like a Shoplifter, They also make Bernie Madoff look rational and moral.
Wow.. you're totally right on that they can get inside trading news invest and stuff before you know about it cuz all their politician are backing bills that you don't even know what it is all in it backing companies you don't even know about
Arent global fractional reserve banking and the fiat system a ponzi scheme also?If we all went to withdraw cash at once from our banks like investors did at Madoff's Fund,wouldn't the banks collapse too?
Is that the case? I'm not an economist but I thought there can be no collapse from a bank run because if a bank has a liquidity (reserve) shortfall, it can go out and borrow from other banks (interbank lending) or from a central bank (a lender of last resort). And the latter will never run out of reserves, since it can create them out of thin air due to fiat currency not being backed by anything
You dam right they will.. but then they go talk to the government like Chevy I need a bailout this could hurt the economy of our country why can't a small business get bailouts I don't give a f*** how big your business is you make bad Business decisions you fail
They are kidding people. They show how people are silly : do You believe Madoff was not protected? Here in Europe try to put "just" 50 000 euros on a bank account; they will do request instantly, to know where You get "all" 😂 that money. And Madoff put billions on his chase account. They really take us for silly people
Bernie Madoff's story should be made into a manga and anime series. The anime series should be a Funimation property with R. Bruce Elliot as Bernie Madoff, Wendy Powell as Ruth, Bryce Papenbrook as Andrew, Josh Grielle as Mark, Kent Williams as Peter, and J. Michael Tatum as Frank D'Pascali doing English Dub. The manga and anime series should be called the Madoff Artist Bernie.
Give the death penalty to those who commit these crimes. There is always someone who commits suicide over these crimes and treat that suicide as murder.
i personality think the sons knew of the scheme. When financial crisis hit, It was planned out to that their sons should rat him out so they can save face and pledge ignorance.
Strategy: the art of planning and directing a plan of action or policy designed to achieve a major or overall aim. Simple strategy: A splotch of paint on a dirty canvas.
Madoff was sentenced and put in prison in 2009. His son Mark one year later commited suicide by hanging himself in 2010 and his other son Andrew died of cancer in 2014 .
If the sons wouldn't report Bernie to the cops after knowing the truth they would be considered complicit and commit purgery. So that's why they stepped to the cops the next day. Lawyers advice. Buddy boy.
Moral of the story, never raise snakes in your own backyard 😅 I think man of that stature would have pulled off this scheme further had his sons not ratted him out.
You know the kids were a part of it the dad had them rat him out so he wouldn't get jail time no one wants their kids to serve no time I bet you they're all pieces of s*** even the wife
I think it was more pride than greed that made him so what he did. He wanted to have the illusion of success and people bowing to him, money obviously bolstered that image but it was always pride.
If you can make one heap of all your winnings And risk it on one turn of pitch-and-toss, And lose, and start again at your beginnings And never breathe a word about your loss … then you will be a man, my son. When you worship money, the loss is all the greater.
No, not greed. It was a safe place to put their money with a modest return. The greedy person in this situation is Bernie. Why are you so quick to judge so cruelly?
Nice to see that some people get it .... Some of the already proven scandals in the crypto business still have not taught anything ... the american greed and deep gullability is a liability for the entire planet... oh well ... looking for ward to see what the next big american ‘failure of imagination’ will be :-)
@Debbie Lawson Many many clients of all walks of life. I don't believe all were greedy. If you believe that all were then that's a rather dim view of man.
The start of the video showing how the so called land of freedom journalist behave by shoving Madoff of just because he wants to take a picture. The US brutality that wasn't reported
when you steal from the rich, you get life behind bars... when you steal from the poor, you are called an investment banker & get million dollar bonuses...
@@AxeEditsYT what you claim to know is incorrect. sorry if i have hurt your feelings. go & have a good cry if it helps. then go on social media & update facebook.
@@mark.lawrence I asked you a simple question and you have yet to answer while just insulting me and my knowledge. My guess is you don’t know anything about banking and just wrote this comment about some personal vendetta you have against it. I made one mistake about one aspect of banking
Craziest part of this story is that he was an innovator. He was the first broker to use computers for buying and selling large amounts of securities instantly. Largest expense when he started his firm was buying the computer. He could have traded huge amounts of securities legitimately, and died a billionaire..
I don’t even think he did! He probably took the idea from someone else and he claim the glory! He was a narcissist, narcissist lies become their life take credit of other talented people. His only talent was he was a con artist.
I think one of the other videos says he did not trade securities, they could not find his securities. Perhaps he simply needed a story to cover the question of where the money he claimed he earned came from.
He was using an AS/400 to print those fraudulent statements. The entire scheme depended on that thing not breaking.
@@mariapilarme Well what happened to all that $65 Billion that was in Bernie's fund?
Do you think Bernie spent it all? Come on man, some one still has a piece
of that money.
Government should do an audit and account for where that money went.
FOLLOW THE MONEY!
SEC still protecting some people who are guilty! Bernie did not do this
all on his own. Someone else or a fund was helping him.
Come on man, Perhaps Biden family or Clinton family was involved.
CNBC and main stream MEDIA is still not doing their jobs, do some
journalism, investigate this mess.
What happened to the people who lost money?
Give us names and loses..... Come on man, do not be so naive!!!!
Do not believe all that MSM tells you!
I met him in Manhattan with Frank Qutrone. Paris Hiltons mom,Brook Mellon way back,,,,Some people made money on this. As was Enron..... Firesale
The sacrificial lamb for generations of extensive white collar crime. The illusion is that it began and ended with him.
_"Death doesn't magically make bad men good, it only makes them dead"_ -Unknown
Criminals like Bernie don't "just" do things. It was a calculated guilty plea. The system (people, coorporations, etc..) that allowed this all to happen still runs rampant.
So do you think his sons are guilty too
@@johnanthenreyes9028 His sons grew up in the worst conditions possible. Yes, they had what money buys but not much else which makes for a terrible life when something goes wrong. In short, they had to have known but didn't have the courage to do something about it or simply dig deeper.. they Feared their father the way an abused dog fears the hand that feeds them.
go on over to superstonk on reddit. there is a scam going on right now that Bernie started. Sort by top and all time.
Happy Sunday! :D
@@johnanthenreyes9028 I do not think his sons are as guilty as the Securities and Exchange Commission
( SEC ) Whose job it is to over see trading activities.
They are to do audits, and protect the people. Scandalous activities by the SEC.
SEC should be disbanded for not performing their duties.
Same thing for the FBI, who are paid with our tax dollars.
Time for all these criminals to be exposed and pay for their stealing Ways.
I’m sorry but there’s NO WAY he acted alone, & for him to willingly take the guilty plea, & not name names tells us there were wayyy more big names involved that he’d never be able to snitch on.
Lmao guy at 1:30 was ready to fight madoff 😭😭😂😂
R I P Bernie .. you gave us a great story of unmitigated greed .
fiat is the gratest ponzi skeam
Do what you love and you'll never have to work. Madoff loved not working and making lots of money, he lived the American dream.
The American dream is to earn a lot of money with legitimate work. Then one could live off one's fortune.
@@jamesstuartbrice420 You're funny.
@@meddem1744 My dream is that someday I will be a famous painter and earn millions selling my works of art. A little like the president's son does. That is completely legitimate and one would never go to jail.
He didn't work, but stole. You may say Madoff worked madly off to cheat his investors.
Good healing and recovery for your wife. We love you work. And yes we pray for you
Split strike conversion is a great options strategy.
DeNiro portrayed him brilliantly. A real sociopath.
High functioning one*
He was NOT a sociopath! Quit judging!
This guy just amazes me. Here is an innovator. A man wanting automation where it was critically needed, and providing it. He had a period where he lost money for clients. He just couldn't stand to be seen as a failure even just temporarily. Every person has setbacks at times, but a fatal flaw in this man's character derailed him. Ironically his entire life was a loser life because of the massive pain he caused. His name will eternally be associated with criminal, psychopathy.
Great point and I agree, if he owned up to the losses he made the first time instead of taking a loan from his father in-law to cover his tracks, this would've never happened. I feel that money wasn't his sole motivation, Madoff was a people pleaser and it cost him big time.
I actually liked Bernie! He lived a fantastic life. Only difference between him and a politician is he was held accountable.
Wow, you liked him 🤯 .... he was not a good person. He ruined so many average people, not millionares that would be reasonably ok in the future. He ruined so many families. People killed themselves because of this man.
Very well put! The US Government and the Political Indentured Servants on Capitol Hill make Bernie Madoff look like a Shoplifter, They also make Bernie Madoff look rational and moral.
@@AshLoRo That’s what politicians do.🙂
Wow.. you're totally right on that they can get inside trading news invest and stuff before you know about it cuz all their politician are backing bills that you don't even know what it is all in it backing companies you don't even know about
Nancy
Arent global fractional reserve banking and the fiat system a ponzi scheme also?If we all went to withdraw cash at once from our banks like investors did at Madoff's Fund,wouldn't the banks collapse too?
Is that the case? I'm not an economist but I thought there can be no collapse from a bank run because if a bank has a liquidity (reserve) shortfall, it can go out and borrow from other banks (interbank lending) or from a central bank (a lender of last resort). And the latter will never run out of reserves, since it can create them out of thin air due to fiat currency not being backed by anything
You dam right they will.. but then they go talk to the government like Chevy I need a bailout this could hurt the economy of our country why can't a small business get bailouts I don't give a f*** how big your business is you make bad Business decisions you fail
They are kidding people. They show how people are silly : do You believe Madoff was not protected? Here in Europe try to put "just" 50 000 euros on a bank account; they will do request instantly, to know where You get "all" 😂 that money. And Madoff put billions on his chase account. They really take us for silly people
Good Reporting on this...Thank You 🇺🇸💜🇺🇸
With a name like Madoff you would think people would see it coming
Meaning...?
@@ericgarr7485 he Made Off with everybody else’s money 💵💵💵💵
Hahah lol
Agreed
😂😂
I wonder how he felt seeing his sons life being destroyed!! People losing their hard cash?? Was it worth it at the end???
Bernie Madoff's story should be made into a manga and anime series. The anime series should be a Funimation property with R. Bruce Elliot as Bernie Madoff, Wendy Powell as Ruth, Bryce Papenbrook as Andrew, Josh Grielle as Mark, Kent Williams as Peter, and J. Michael Tatum as Frank D'Pascali doing English Dub. The manga and anime series should be called the Madoff Artist Bernie.
POOR devil. Died so alone with no family. Its a sad sad story for all involved.
I love how he didn’t snitch on anybody else. That makes him more of a boss.
Who else would he snitch on? You have everyone who worked on the accounts. We already know they were involved, no snitching required.
@@Preservestlandry he could’ve brought more with him. There had to be others involved. Regardless he didn’t fold and stood tall through it all
@@fetti214 and that's why I have tremendous respect for him
Give the death penalty to those who commit these crimes. There is always someone who commits suicide over these crimes and treat that suicide as murder.
Capital punishment for crimes against capital.
You sicko
Rich people got hustled. Bernie is a genius.
Facts
Not just rich people, a lot of people from all walks of life were conned
Psychopats .....do this.
🌍
Don't let people lie to us Man!!!? Alot of people still made alot of $$$$ 💰
A sociopath not a genius. His son killed himself because of this.
Where is part three ?
Individuals in the business reported him to the SEC several times and the SEC brushed them off. Madoff fooled so many.
If Made-off donated funds to political candidates, those funds should be returned to pay back the investors.
Oh sure, politicians? Paying back?
i personality think the sons knew of the scheme. When financial crisis hit, It was planned out to that their sons should rat him out so they can save face and pledge ignorance.
Why were those reporters pushing him?
Money
Because they're losers
They wanted the money shot
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
I guess he showed everyone what he's Madoff.
He miscalculated.. never know during financial crisis, everyone will be withdrawing their money to recoup business losses.
5:44 guess everyone really IS within six degrees of separation
Strategy: the art of planning and directing a plan of action or policy designed to achieve a major or overall aim.
Simple strategy: A splotch of paint on a dirty canvas.
He should of been granted compassionate release when he got sick!!!
Looks like George Washington.
Yes Sir
He loves dollars that’s why
He was only sorry he got caught !
I would do the same for doing such a noble cause!!!!
If his sons would not have buckled up. He wouldnt have gone jail
Seems the outage was because he messed with rich ppl’s money (messing with poor ppl would have = *crickets*)..
He should have been proud of his two sons, they did good by protecting themselves
Madoff was sentenced and put in prison in 2009. His son Mark one year later commited suicide by hanging himself in 2010 and his other son Andrew died of cancer in 2014 .
Getting backstabbed by his own sons. Guess you can’t trust family
If the sons wouldn't report Bernie to the cops after knowing the truth they would be considered complicit and commit purgery.
So that's why they stepped to the cops the next day. Lawyers advice. Buddy boy.
Moral of the story, never raise snakes in your own backyard 😅
I think man of that stature would have pulled off this scheme further had his sons not ratted him out.
Ruth Madoff should have gotten 150 years too. Pretty sure she was in on it.
Quit splitting up the videos into small pieces!
they made sure the family was protected. most likely part of plea bargaining
You know the kids were a part of it the dad had them rat him out so he wouldn't get jail time no one wants their kids to serve no time I bet you they're all pieces of s*** even the wife
realistically he would not even serve 25 years because of his age
The wife and kids DIDN'T know? YEAH RIGHT!!
2008 Split-Strike Conversion
2028 Sticky Strive Converting
He fooled you guys 😭😭
The two boys are as cold as their dad.
I think it was more pride than greed that made him so what he did. He wanted to have the illusion of success and people bowing to him, money obviously bolstered that image but it was always pride.
He was successful before the scheme! He didn’t need to do this.
Weren't thoes Sleeping Pills......."No they were Skiddos"
I wonder where the
Awww, the poor rich people lost everything.
Madoff wit ya money
Was Instagram before Instagram
Wow....
If you can make one heap of all your winnings And risk it on one turn of pitch-and-toss, And lose, and start again at your beginnings And never breathe a word about your loss … then you will be a man, my son. When you worship money, the loss is all the greater.
Like this are All what have alot of money!
Becouse from simply work and mind,never will have this.
Mafia is everywhere,in Asia,America,Europe,Afrika.
Bernie : ponzy scheme
2nd on to social security
150 years only..!
Greedy investors!!! Bernie was Brilliant 😁 People fell for it because of greed...just like bitcoin and crypto....don't fall for it!!!!
No, not greed. It was a safe place to put their money with a modest return. The greedy person in this situation is Bernie. Why are you so quick to judge so cruelly?
Nice to see that some people get it .... Some of the already proven scandals in the crypto business still have not taught anything ... the american greed and deep gullability is a liability for the entire planet... oh well ... looking for ward to see what the next big american ‘failure of imagination’ will be :-)
@Debbie Lawson Many many clients of all walks of life. I don't believe all were greedy. If you believe that all were then that's a rather dim view of man.
Bill Maher looks 👌
I'M TRIED TO TOLD YA
Secret to being rich... Steal steal and steal
@WATCHER DUDE like how Trump got his wealth...
The start of the video showing how the so called land of freedom journalist behave by shoving Madoff of just because he wants to take a picture. The US brutality that wasn't reported
Why was he so obsessed with money ?
Where did it come from ?
I personally do not care about it ❤
a lot of that money is gone gone gone & crying won't bring it back. 💰💸
#Split Strike Converson so give me all y'all money so I can split straight my pockets full.
Only the rich can be fooled so easily.
Good ole Berny,id buy that for a 💵
THAT S HOW THEY CRUATE POOR PEAPLE
Ha Ha Ha Ha Ha!!!!
just another Shylock in a long line since Shakespeare & before; those people never change
when you steal from the rich, you get life behind bars...
when you steal from the poor, you are called an investment banker & get million dollar bonuses...
@@AxeEditsYT oh. how naive you are.
@@AxeEditsYT what you claim to know is incorrect. sorry if i have hurt your feelings. go & have a good cry if it helps. then go on social media & update facebook.
@@mark.lawrence I asked you a simple question and you have yet to answer while just insulting me and my knowledge. My guess is you don’t know anything about banking and just wrote this comment about some personal vendetta you have against it. I made one mistake about one aspect of banking
@@AxeEditsYT cry baby.
@@mark.lawrence Mark Lawrence is correct!
His nose kept getting bigger…
YEA HE MADE OFF ALRIGHT 🤣🤣🤣
People vote for trump
Sho am glad wez being warned about Madoff - Iz not worried though kause my money is safe with JPMorgan.
RIP KING MADOFF
He was innocent.
I agree
That's what the SEC thought for a long time.
God has judged, as written in scripture, his entire offspring wiped out, and his family is no more.
Oy vey
Rest in peace
The boys had to have some information about this .