Bernie Madoff: How to BURN 65.000.000.000 Dollars | The Great Pretender | FD Finance
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- เผยแพร่เมื่อ 6 ก.ย. 2024
- Bernie Madoff: Mastermind of the Largest Fraud in U.S. History | FD Finance
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December 12, 2008, Bernard Madoff is apprehended by the FBI for what happens to be the biggest fraud in the history of finance. This white-collar criminal embezzled 65 billions of dollars and is bound to spend the rest of his life in jail. His gigantic swindle spanned over 20 years, and tens of people were involved, mostly without knowing it - for instance his wife and two sons.
This documentary tries to decrypt Madoff’s merciless and manipulative mind. Exclusive interviews with his close relations and experts from Harvard and New York University, shed light on this enigmatic character that turned Wall Street upside down. From the big picture to the unknown crucial details, get ready to get inside the mind of the most famous financial swindler of all times.
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One of the smaller things that irritates me about the reporting around Madoff is the repetition of the $65bn figure. There never was $65bn. It wasn't an amount that was stolen - it was the fantasy number he said his fund was worth. His actual theft, awful as it was, amounted to about $17.5bn - which is very, very bad, but I can't help thinking that misreporting as if he'd actually stolen the larger amount, no matter how false, makes a better story. Faced with a choice between printing the truth or printing the legend, well, print the legend, of course!
There’s the concrete “physical” amount, and then there’s how much it was all worth. Including, but not limited to the value of having him actually manage it for you. It’s all about value.
Well said...
Who cares? Honestly. He’s a criminal. He schemed billions. One number doesn’t negate the other.
It is the same as when they do a drug bust , they seize 5kg but they give the value of it as the entire 5kg being sold in single grams in order to make the amount bigger than it actually is .
@shari9721 That's how much they want after they put it on the streets. Street gangs, mafia, bikers, & law enforcement gangsters. They then give an area to sell in. Red vs Blue, East vs West. Now they have to buy munitions to protect themselves....from the CIA!! Now we need Courts, the Blue Wall Mafia, Lawyers & Judges!
It feeds the system.
The man said it correct: ' There is a mirror effect between the victims and Bernie, wich is greed'
They had enough, wanted more wich is where Bernard came in. A tactic that will work time after time after time.
America is built on investment and high interest.
Madoff s son committed suicide heartbreaking he felt and Kevin bacon and his wife didn't say how much they lost but his wife Kyra Sedgwick said it was enuf for family to buy a house but a man knew what Madoff was doing he reported it and they didn't do anything until people lost millions but people trusted him his wife and his son the guilt he had he felt a loss of respect he was saddened but the timeline of a court trying to figure out millions it wasn't enuf people lost there life savings account some were retired they had to go back to work I'm no one to judge but he made the ponzi scheme feel like 1920s Charles ponzi scheme
@@user-gc6fq5uv9b you made several good arguments but please, next time, use punctuation marks so that your sentences would not be confusing.
Madoff's mistake was scamming fellow tribesmen... otherwise he would have got a slap on the wrist.
Yep.
For sure I am glad they all his people, because if they were non white his case would have been dismissed
He is a crook, not smart and sharp. When you are a crook you only have to be clever, the fox and the crow
If these people were manipulated, imagine how the average person is being manipulated. These people have access to financial wealth and an abundance of information.
You are right! The dude who wrote the big short! Wrote flash boys! The elite own the fiber optic cable on trades and satellites. They know a 10th of a second before you. The book is great
64 million bumpkins voted for an obvious ignoramus they actually heard confess to/brag about assaulting young women. The American project is teetering.
But they lacked common sense!
They were all in that club you're not allowed to talk about and Uncle Bernie committed the ultimate sin, he screwed his fellow club members and countrymen
What a change - someone did to the rich what the rich do all the time to the poor.
How do the rich do the same?
The reason Bernie is in the nick as opposed to the Oval Office.
@@Carlos-on4fz well, I guess you must be the one who invested in him. 🤣
@@KAAN_TR answer my question
THAT was an excellent question but one he can't answer...all he has is envy driving him. Wants the results of hard work without having to do it. So, sticks to cliches about why he isn't rich... Its THEIR fault!
The same thing that motivated Bernie to do what he did is the same thing that motivated his investors to invest… plain old GREED. Never being satisfied with what they have already… Do I feel sorry for some? Yes, but only some.
Seeking a steady 10-15% return isn’t exactly what I’d call greed.
@@DMS20231 if you already have more than enough for you , your children , your grandchildren to live in extreme luxury yet you still want more that is greed .
@@shari9721 Who cares? One person making money doesn’t mean someone else gets less.
When is having enough Money….enough.
none of it was ever his...He was always robbing peter to pay paul.
-Skyler White
When a swindler is called Made Off that should give you abig clue.
Plenty other clues like the "Screw Sculpture". They have to tell you in a subtle way to make the Magick more powerful.
@@rvajnayeah, there's all kinds of warning signs, the most money I'm ever going to give one person--even one bank is 10%, I'm not risking the money i made for my family on any investment.
Madoff , Bankman Fried , Epstein ,Lehmann Brothers and Jordan Belfort ; what do they all have in common ? They all deserved each other .
@richardshiggin704, You ask what they all have in common? Ooh ooh I know, I know, hand in the air. They are all Jews?
No, they are all Jews!
every. single. time.
Historian David Irving must have enjoyed a wry chuckle when Wiesel and Spielberg got scammed.
He's no "historian." He spews all kinds of Holocaust-denying fantasies. Shame on you if you consider him to be a sympathetic figure.
I LOVE WHEN THE PAPARAZZI YELLED OUT TO HIM WHILE HE WAS UP IN HIS PENTHOUSE, MADOFF IT'S NOT TO LATE TO JUMP!
* too late
His son ended his own life because he was not man enough to face the music like a man. Bernie Madoff took his punishment like a man. Look into the behind the scenes billionaire that was found dead in his pool. There is always more to every story.
* too
Wow! He manipulated a psychologist!
Many psychologists and medical professionals are psychopaths themselves.
Deeply full of shame from childhood drove this ruthless persuit of success and validation.
Bernie Madoff had all the weight lifted off his back in prison. It had to be exhausting dealing with all the greedy people. They are over exaggerating the figures as well.
Bernie was the greediest of them all
This documentary actually does a great job at showing the human side of Bernie Madoff: his rationale, technique, lifestyle, etc. The commentary is very over the top though, demonizing his every move.
The guy is a scum bag lol. Did you not hear him completely dismiss all this fraud is not that big of a deal?
You're just objectively incorrect. What Madoff did is completely indefensible. His "rationale" is just excuses.
It would have been simple to expose him. Where were the auditors? Nobody can recall any trades ever made by him.
What the Federal Reserve is doing with printing their fiat currency makes Bernie Madoff look like he was stealing pennies !!
@targetedfordeath359, Those pennies turned into 17 Billion, other people's money.
@@BlackOlivesMatterToo-iu1tm The pennies turned into jail !!
Indeed, governments all over the world employ Ponzi schemes by using fiat money except that Madoff wasn't a government.
@@BlackOlivesMatterToo-iu1tm17 billion is NOTHING compared to 34 trillion in US debt, 200 trillion in corporate debt, and about 2 quadrillion in derivatives. That's where it stands. Those numbers leave out other countries' debt. There's a finite mathematical conclusion to this Ponzy scheme.
Many people knew he was a scammer or must have been....but they shut their eyes...
A lady professional financial advisor, who was at a social event in Palm Beach, was asked by a wealthy jewish broad what she thought of Madoff.
When she answered that she had looked into his outfit and thought he was a bad bet, the old broad got all butthurt and admonished the pro for not knowing her arse... so she kept her mouth shut after that, lol.
Excellent documentary!
To rob and destroy people's lives, you got to be shameless, heartless and without moral!
Everyone blaming his victims is ridiculous. Chasing a 10% return isn’t greedy at all. This is just class envy.
Class hatred! FACTS
A lot of victims were working class who had no control over their superannuation or pension funds. They could no longer retire and kept working into old age.
As long as people are driven by greed, guys like Madoff will be able to do what they do. I feel no pity, not for Madoff nor for his victims.
That’s a bit harsh… I feel for the people who lost money not even knowing they were involved wit madoff . They were completely innocent.
@@dmimz7691 In the end, the "victims" got 75% of their original investment back. The federal government turned every stone to get the money back. I wish I had invested with Bernie Madof instead of mutual funds before the crash of 2008, in which 80% of my investments went up in smoke.
People invested money and were scammed. Are you some sort of Marxist?
Same here.
He was the face of all those that did not care how, where or who was affected to get that return in their investments. No compassion for or any of his victims
MADOFF was good with numbers He did not have to do what He did He could do good working like everyone else but greed was too strong for Him
Yes! And this documentary states his penthouse apartment, multiple houses, yachts, shares in private jets, and yet says he was modest and not flashy. 😂
Correction ponzi scheme is not the same as pyramid.
How does someone compartmentalize the death of a loved one? The average human psyche is not meant to be organized that way.
Excellent documentary! I chose this one because I just watched again "Wizard of Lies," the HBO production with Robert DeNiro. Thank you for posting!
His prison Hot Chocolate Mix scheme ☕.
What a footnote of his life.
Eugene Soltes was giving Madoff interest rate info while he is in jail and this guy is clueless as to why he is asking. Amazing. He is in prison and must survive in that environment. One son succumbs to cancer and the other was a coward, ending his own life. Remember Madoff was the face of the operation. Read between the headlines and think.
There is definitely a group of international people who think that because they are Rich they must be smart trustworthy and good…. Madoff proves them wrong…. They are only greedy and self centered.
It was his looks and last name, why he got away with it for so long 🤔
Madoff was a legend. A great man that never harmed anyone. He really wanted to help people but simoly ran out of money.
Did they leave an amount with him and the fictitious interest / gains added to their fund.. or did they get it paid directly to them monthly / annually ??
Its call pain and simple GREED. ALL AROUND
After watching the whole Sam bankman fraud saga , I can't believe people would invest all of their money , in one investment , I mean all of it ? Especially being older ? Ludicrous .
To be wrong or to be right??
At 5:40 the woman mentions the events of September 11 2001. Look into the financial crimes tied to that heist.
Great documentary, but drop the back ground music, it is annoying.
Cool doc
So many people that invested with Madoff knew full when there was something illegitimate happening but they lived in ignorance about it because of how much money they were making.
FORGET GEORGE WASHINGTON. IN BERNIE MADOFF WE TRUST. George was figured on the modest dollar bill. BERNIE WAS AN AMERICAN ICON AND ROLE MODEL WHO MADE HISTORY
Do I feel sorry for the victims? Not a whole lot. Their loss was built on a sickening greed on their part.
Correct.
Biden said This is sickenings 😮
Investing your money is greed?
They were all conned by a brilliant fraudster. They are victims of evil and greed.
Found a commie.
come on he just made the same the the macro economy but he didnt have the federal reserve for make free money.. wtf what a show is everything
Corruption will never end.
all these electric cars are really putting strain on the grid
Unbelievable that he handled any money in prison. Wouldn’t his sentence rightly limit computer access and business dealings?
But did he ever rip off anyone who wasn't already rich?
That is all.
STEVEN SPIELBERG, A CLEVER MAN, GOT CLIPPED IN THIS
That depends on when he started. With 10% a year, it took about 10 years zu get initial ivestment back.
Imagine having that much cash available & not being able to make money!!
Apparently, he cornered the sugar market in jail.
It's in his blood
When he was in Butner..Only 3 people were on the “approved” visitor list. His wife, attorney & a guy from Sarasota, Fl named Rich Towsley
Rich Jew ripping off rich Jews
Who cares
Those investors should have seen it coming, investing with a guy named Ponzi
I miss the man...
Bernard would put in his savings (say $10,000,000) knowing he was going to steal $30,000,000 back....Of course he would front his savings....
Typical behavior from those people
I don't know how he could have felt that he "made" money for people.
Bernie had no scruples- he even took the Jewish community- I like that
Jew’s was his main targets
Watch a full documentary thats not put together by non-Americans. I heard him talk about how he got deeper and deeper, people were coming to him not the other way around. One or two mis-steps and trying to catch up is not easy. He said he was actually relieved when he finally got caught. But Im turning this one off, I cant stand British narrators. .
Stole nothing lost his whole life and created more than seduction
Bernie is evil, but the hate in all comments for people with money is shocking. Not all people with money are greedy or crooks. He had stellar reputation propped up by FCC itself. People trusted him. And nothing wrong with investing and making money. But a lot of people did not ask alot of questions, they preferred to look the other way. Government did this for years also.
Not gonna lie. I’d take some money and run😂…if I’m one of his sons I’m transferring about $25mil and leaving the country.
What is missing? Handwriting analysis.
It's amazing how this documentary very very subtlety tries to paint Madoff as almost a victim or even a great man - The priority is always controlling the NARRATIVE.
He stole money, from people with money, who were trying to make more money, without working for it.. It’s hilarious when they call him a monster.
@ 2:00
I don't have much sympathy for the investors either. Only a greedy, irrational person will believe in guaranteed 25% annual interest rate and put all eggs in the same basket.
Stop watching this non-American documentary about a fellow American citizen and watch the Front-line series about him.🗽🇺🇸👍
He worked with the government!!!!! Say it as it is
His wife got to keep millions
They wanted his head on a stick, just like Happy Gilmore
Just greed eating greed, dont feel sorry for Madof or his "victims".
Greed made this happen!
@ 6:05
The receiver recovered 100% of Madoff’s funds by suing the Madoff winners of years previous to make whole the $65B the losers lost
You erstwhile Robin Hood’s have no heart
HIS VICTUMS FELT NO MATTER HOW MUCH YOU MADE THIS YEAR, NEXT YEAR YOU
WANT,,,,,,""MORE"",,,,,,,,P.S. ""FEEDER FUND"", THAT'S AN INTERESTING TERM !!!!!
How can he walk around,knowing your f- - - ing over ALL these people...well im a construction worker so im not that bright,but I know 50% on your money it raises a red flag too me🤔
You are brighter than HE was, you build something concrete. HE can only destroy!
This guy was my hero. Incredibly hard working & talented individual who had a true talent for connecting with people.
Still my hero..He was cheating the cheaters..
Do all your heros die alone inside prison?
@@stevewhittle7163all heroes dies after saving the planet.. 😁 alone or with other heroes..
Money is root of all evil you already have billions why more
Greed is the root of all evil, not money.
The love of money. You need to catch up with your Bible.
The love of money is called greed. Money itself is not actually the problem. You are not understanding the separation there.
@@tumalditamadresita they created two Christianity, one they worship to Bible and other one is money.. people worship to money than they worship to god.. 🤣
Stealing from bis community was wrong but Not Form everybody elses.
"How to BURN 65.000.000.000 Dollars" What do you mean ?! MOST OF THE MONEY HAS BEEN RECOVERED !!!!!!!!!!!!!!!!
Colleen is the most beautiful girl I’ve ever seen in my life
What’s so strange is this loser knew the end was near, so at any time he could have left the country and disappeared with billions. For that kind of money you can surgically change your entire appearance and name, Either he was too arrogant, or just crazy. Or wanted his family to keep the hidden money😮
His investment strategy was, " I'll pay you to invest with me". A very aggressive strategy.
Smart man he was… RIP
Do u think Bernard just Made-off.
I wonder if Colleen Eren shaves her bush every week or every day
Like SBF all that money
Me $10,000,000 off to Africa or other Countries
Would still be free today
Fools😂
He had no lips😮
He madoff with a lot of peoples money all the way to hell
To be or not to be..😀
Greed
stephen greenspan when he talks...ewwww
I’m very jealous of Bernie he was so clever I wish I could start a Ponzi scheme
I’m no financial guru by any means, but there is zero logic in the notion ‘I can’t take in any more money.’
If his strategy is above board and contingent on a judicious spread of prudent investment then there’s no such things as too much money.
Huge red flag.
The logic that reluctance on Bernie’s part implied genuine pragmatism on his part which further compelled savvy investment firms, is a more a case Bernie how to exploit their FOMO
Wow! He manipulated a psychologist!