#Madoff

[elimgarakdemocrat]

"why isn't everyone treating the ftx scam like Madoff" it's because nobody can get too worked up about boredApe42069hodltothemoon losing $20000 the same way they can about some grandma losing her retirement

[ulkaralakbarova]

A look behind the scenes at Bernie Madoff’s massive Ponzi scheme, how it was perpetrated on the public and the trail of destruction it left in its wake, both for the victims and Madoff’s family. Credits: TheMovieDb. Film Cast: Bernie Madoff: Robert De Niro Ruth Madoff: Michelle Pfeiffer Frank Dipascali: Hank Azaria Stephanie Madoff: Kristen Connolly Catherine Hooper: Lily Rabe Mark Madoff: Alessandro Nivola Eleanor Squillari: Kathrine Narducci Andrew Madoff: Nathan Darrow Martin London: Steve Coulter Dan Horwitz: Michael A. Goorjian Ostrow: Geoffrey Cantor Michael Schwartz: Jason Babinsky Waitress: Marta Milans Agent Ted Cacioppi: Kelly AuCoin SEC Investigator: Amanda Warren Peter Madoff: Michael Kostroff Reporter: Portland Helmich Upscale Gala Guest: Doris McCarthy David Sheehan: Hamilton Clancy News Reporter: Tommy Bayiokos Reed: Gary Wilmes Club Codette: Cece King Trader: Kelly Aaron Party Guest: Amelia Brain Pinks: Marion McCorry Nicole De Bello: Sophie von Haselberg Driver: Karen Goeller Emily Madoff: Sydney Gayle Photographer / Paparazzi: Vincent Chan Caterer: Adam Butterfield Mike: Razor Rizzotti FBI Agent Kane Partner: Derrick Simmons Visitor: James Brickhouse Kenneth Langone: Ray Iannicelli Florida Fisherman: Guy Sparks Carl Shapiro: Ben Hammer Pool Kid: Ethan Coskay Picard Reporter: Victor Joel Ortiz Federal Agent: Chris LaPanta Daughter: Nicole Scimeca Young Mom: Anthoula Katsimatides Irving Picard: David Little Pierre: Jean Brassard Robert Jaffe: Mark Axelowitz Audrey: Reagan Grella Girl in Pool: Giulia Cicciari Party Guest: Wayne J. Miller Tom FitzMaurice: Neil Brooks Cunningham Palm Beach Party Guest: Lori Burch Bartender: Christine J. Carlson Inmate Gonzales: Sammy Peralta 17th floor Office worker: Ralph Bracco Young Daniel: Eli Golden Ike Sorkin: Mark LaMura Pool Party Guest (uncredited): Robert Levey II BLM Employee: Geoffrey Dawe Film Crew: Producer: Joseph E. Iberti Screenplay: Sam Levinson Executive Producer: Barry Levinson Screenplay: Samuel Baum Screenplay: John Burnham Schwartz Book: Diana Henriques Co-Producer: Amy Herman Original Music Composer: Evgueni Galperine Casting: Ellen Chenoweth Director of Photography: Eigil Bryld Editor: Ron Patane Costume Design: Rita Ryack Art Direction: Ryan Palmer Executive Producer: Robert De Niro Executive Producer: Jane Rosenthal Set Decoration: Heather Loeffler Executive Producer: Berry Welsh Co-Executive Producer: Jason Sosnoff Original Music Composer: Sacha Galperine Production Design: Laurence Bennett Sound Re-Recording Mixer: Skip Lievsay Movie Reviews:

[mesillusionssousecstasy]

MADOFF: The Monster of Wall Street

It was such a good documentary. Not too long, not too short.

I would have liked to understand better the fraudulent operation behind that scheme.

Honestly, people are as guilty as Bernie Madoff, they are just so so greedy. How can someone even believe to have 100% return without any loses.

And the institutions are as guilty as him too.

I really felt sorry for the mathematician, Markopolos who knew that Madoff was a fraud and did everything to show it, but no one believed him, until it was too late.

Some people are just too stupid.

Worst JP Morgan Chase "acknowledged a lack of oversight in monitoring Bernie Madoff's bank transactions, but the company claimed that no employee knowingly assisted in the fraud."

Some quotes :

"- And the choice he made was, he could live with himself as a liar much more easily than he could live with himself as a failure." (Episode 1)

"- He's both Bernie's savior, if you will, and Bernie's deep, enraging enemy, because Bernie, as the ultimate control freak, has allowed somebody to basically control him." (Episode 2)

"- For what Madoff needed to reassure his investors. Even before Madoff himself knew what he needed." (Episode 2)

"- A white-collar crime is different than a blue-collar crime. A blue-collar crime, the bodies drop before you investigate. And a white-collar crime, they drop afterwards." (Episode 4)

"- He chose, the methodology of death that he did, a painful solution, to atone for his sins of omission." (Episode 4)

"- Why would anybody trust me to give me business? Turn their money over to me? But the first thing I learned: Whatever you do in this business, never break your word. Your word was your bond, literally, and that was it. You trusted everybody. But nothing in this industry is what it looks like." (Episode 4)

"- People knew not to ask too many questions. If you're getting good returns and you're getting lots of money, and you're not to as any questions, you don't ask any questions. And, you know, greed has a way of doing that to people." (Kotz - Episode 4)

"- JP Morgan Chase has pled guilty to five massive criminal conspiracies involving billions of dollars within the last six years. When they get caught, they're never required to disclose the profits they made on the scheme. They just pay a fine and they go on." (Episode 4)

"- You know, my dad's crime... it killed my brother quickly and it's killing me slowly." (Mark Madoff - Episode 4)

"- Noted psychiatrists that I talked with about Madoff's case hypothesized that what Bernie was grieving was the loss of his family's adoration. It was not so much that he loved them as that he loved having them love him. Which is, of course, pure narcissism and pure sociopath." (Episode 4)

"- And the price of trusting anyone is that they can betray you liked that." (Episode 4)

"- People want to believe in good returns without downside risk. Everybody wants that in their portfolio, but they're chasing the Holy Grail. The Holy Grail doesn't exist in real life, nor does it exist in finance." (Markopolos - Episode 4)

[don-lichterman]

On the Rampage, Idaho Killings Suspect, The Challenge: Ride or Die, Bernie Madoff, Oingo Boingo & Danny Elfman, Matt Gaetz Live & 12th Vote!

[agentfascinateur]

YES! Start in Toronto...

#I ❤️ Francesca Albanese

[marthabeingmartha]

Had to redo it ;-/

[cinemaquiles]

PEGA NA MENTIRA! CINCO FILMES QUE MOSTRAM QUE A MENTIRA TEM PERNA CURTA PRA VER NO STREAMING!

[pedroam-bang]

The Wizard Of Lies (2017)

[avaricology]

Bernie Madoff scammed Wall Street for decades

But when his victims needed to take out more than their usual things began to unravel. Watch as his secret history unfolds.

[cecilias-cool-stuff]

Fave part of the Bernie Madoff doc is the b roll footage of Guy That Looks Kinda Like Bernie Madoff Standing Ominously

[crimeculturepodcast]

277 - Bernie Madoff

[trutown-the-bard]

A recent Netflix documentary series called Madoff: The Monster of Wall Street by Emmy Award–winning filmmaker Joe Berlinger tells the story of the largest Ponzi scheme in history.

Besides the infamous character mentioned in its title, the series' other villain is the Securities and Exchange Commission (SEC), which received complaints about Bernie Madoff starting in the early 1990s, and yet, it not only failed to catch him but helped enable his fraud. During one investigation, all SEC investigators had to do was check an account number to verify trades had actually occurred, which they hadn't, of course, because all of Madoff's trades were fake.

The Netflix series acknowledges that the SEC was complicit in Madoff's scam and that he could have been caught if one investigator assigned to the case had done about 30 minutes of checking. But then it also blames deregulation and free market capitalism for making the fraud possible.

"Resources that had been in New York City, on Wall Street's doorstep, devoted to white-collar crime, to fraud, were being steered away [from Wall Street]," says Henriques of the George W. Bush administration era during which Madoff's operation reached its peak. "For the SEC, this was an exacerbation of an existing problem, as a result of a deregulatory campaign that began with the election of Ronald Reagan in 1980."

Instead of making lazy allusions to the evils of free market capitalism, to better understand the lessons of the Madoff saga, director Joe Berlinger should have consulted the work of the free market economist George Stigler, who won the Nobel Prize in part for his work on "regulatory capture." 

 In a 1971 paper, "The Theory of Economic Regulation," Stigler argues that while many people believe that "regulation is instituted primarily for the protection and benefit of the public," in fact, it mainly serves the purposes of the largest companies being regulated, which form a symbiotic relationship with their regulatory overseers.

"My thesis is that the industry body in the long run must act by and for the industry," said Stigler in a 1971 speech before the American Enterprise Institute. "The political realities of life dictate that the regulatory bodies become affiliated with and help in what it believes to be the necessary conditions for the survival of its industry." 

Stigler's essay focuses mainly on how regulators help existing companies by protecting them from competition, but his theory can also be used to better understand the SEC's failure to catch Madoff. In a 1972 essay, Stigler writes that "the regulating agency must eventually become the agency of the regulated industry…. each needs the other." That's because the career lawyers at the SEC making the decisions have much more to gain personally from having a positive relationship with big industry players than antagonizing them.

What if Harry Markopolos' warnings hadn't been filtered through the SEC? The average person might be better equipped to spot a con man than we give him credit for. But the myth that regulators are primarily motivated to protect the interests of the public causes many to suspend their better judgment. 

"The individual consumer, if he is not hampered, is in general capable of a large measure of self-defense against fraud, mishaps, bad luck, and the like," said Stigler in his 1971 speech. "Not all consumers are intellectually competent and well-informed, but most consumers know how to build up defenses against the many vicissitudes that lie in real life. And it is primarily because we have socially so often hampered these effects that we have injured the consumer."

The big takeaway from Madoff: The Monster of Wall Street is that regulators unwittingly facilitated his fraud, just as they may have done with Sam Bankman-Fried and his alleged con. As you watch the Netflix series, think about whether we should really be giving these regulators more time or power. Are they helping us or themselves?

[rcvandenboogaard]

Zelf je leven verzinnen - de 'Hochstapler' in actie

De ideale titel voor dit boek van Ian Buruma zou ‘Die Hochstapler’ geweest zijn, maar helaas bestaat er voor die term in het Engels of Nederlands – de twee talen waarbinnen deze Nederlands-Amerikaanse essayïst zich voornamelijk beweegt – geen adequaat equivalent. ‘De fantasten’ heet het boek nu in Nederlandse vertaling – altijd nog beter dan het ‘The collaborators’ van de oorspronkelijke, Engelse…

[garynbc]

The only people who can deceive you completely are people you trust completely. And the price of trusting anyone is that they can betray you like that.

[marthabeingmartha]

Another podcast coming out tonight

[transmansplainer]

Midwest solidarity with eastern Europe.

From Kansas, moves to Boston for grad school, ended up at some dinner party at a profs house. A distinguished looking woman comes up to me and we start chatting. Turns out she is the one who funded my scholarship. Dope.

Then she asks me if it was hard reading where I grew up.

I, deeply confused, ask, "what do you mean?"

She responds, patiently, "well, with not having electricity it must have been difficult to make time to read for your classes during the day."

....and bc I am more Hob than I would like at times, I take her on a FUCKING RIDE.

I'm talking about saving up for candles and how supportive my family was letting me borrow the horse on the weekend to go to the library. I'm talking about breaking ice on the homestead for the cattle and to have water to make coffee. How tough it was during harvest having to work the fields all day, put down the horses at night, and then catch up on classes.

And she ate up every. Single. Word.

Like, she was in it.

She also told me at the end of the conversation that I "wasn't as stupid as your accent makes you sound."

Anyway, thanks for the money or whatever, I hope you choke on the tax write off, and just because you've never been to a place doesn't mean that the world doesn't exist there.

Ta da!

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