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Jill on Money with Jill Schlesinger

Bernie Madoff and The Wizard of Lies with Diana Henriques

Jill on Money with Jill Schlesinger

Audacy

Education, Investing, Business, Self-improvement

4.61.9K Ratings

🗓️ 25 May 2017

⏱️ 46 minutes

🧾️ Download transcript

Summary

Bernie Madoff is perhaps the most notorious name in the history of Wall Street. By now we all know the story. Madoff conducted a Ponzi scheme that is considered to be the largest in U.S. history. Over the course of decades, Madoff stole billions of dollars from his clients and finally, amid the financial crisis of 2008, the crime came to a screeching halt. How on earth was he able to pull it off for so long, when there were plenty of warning signs and whistleblowers who tried to alert regulators that something was amiss? One of the journalists covering the scandal was Diana Henriques, then a staff reporter at The New York Times, who specialized in investigative reporting on white-collar crime, market regulation and corporate governance. Diana used her countless hours of work as the lead reporter on the story as a catalyst to write the bestselleing book, The Wizard of Lies: Bernie Madoff and the Death of Trust. Diana had incredible access, including the first interview with an imprisoned Madoff. I was fortunate enough to interview her in 2011, just as the book was becoming a bestseller. I remember thinking at the time that the tale of Bernie Madoff was not just a financial story, but a Shakespearean tragedy. Robert De Niro was so drawn to the character of Bernie Madoff as Henriques depicted him, that he bought the film rights to “The Wizard of Lies.” Six years later, HBO films released the movie version of “The Wizard of Lies” - it debuted this past Sunday. If you’ve yet to see “The Wizard of Lies,” go watch it. DVR it, stream it, whatever the method, just watch it. It’s incredibly well done and stars Robert De Niro as Bernie Madoff and Michelle Pfeiffer as Ruth Madoff. Diana is an amazing storyteller, from her dogged pursuit of the Madoff prison interview to her describing the phone call she got from Robert De Niro saying he wanted to play Madoff...just an incredible story. We wanted to give you as much of Diana as possible, so for this week only, we’re skipping the caller of the week...don’t freak out, it’ll return next week. “Better Off” is sponsored by Betterment. We love feedback so please leave us a rating or review in iTunes. "Better Off" theme music is by Joel Goodman, www.joelgoodman.com. For a recap of every episode, visit https://www.betterment.com/resources/topics/inside-betterment/better-off-podcast/. Connect with me at these places for all my content: http://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/c/JillSchlesinger https://www.linkedin.com/in/jillonmoney/ https://soundcloud.com/jill-schlesinger http://www.stitcher.com/podcast/jill-on-money http://betteroffpodcast.com/ https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2

Transcript

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0:00.0

Hi, it's Jill Schlesinger, and on this episode, we're talking to my friend Diana Henriches.

0:08.8

She is the author of The Wizard of Laws, Bernie Madoff, and the death of trust.

0:13.4

You know, I've covered lots of criminals, I've covered lots of fraudsters, even lots of

0:17.5

Ponzi schemers.

0:19.2

Nothing in those stories hooked me the way this did because by the end of that first night

0:25.6

we knew that Madoff had been turned into the FBI by his two sons and that fact without knowing yet that the sons were

0:36.9

blameless without knowing whether they were his accomplices or his innocent horrified offspring. It was Shakespearean.

0:47.0

Welcome to the Better Off podcast sponsored by Betterment,

0:50.0

the smarter way to invest your money.

0:52.0

And we're going to do something a bit different this week.

0:55.2

We've got a special guest, Diana Henriches.

0:58.1

She is the author of The Wizard of Lies,

1:01.0

Bernie Madoff, and The Death of Trust.

1:03.4

And they've just adapted her book,

1:05.7

the quintessential book about the Bernie Madoff scandal,

1:09.2

into an HBO film, you probably saw it advertised. It just started airing last weekend, but for this show

1:15.9

we're just going to run my interview with Diana. Sorry gang, no listener question of the

1:21.2

week this week because I think you're going to love this interview.

1:24.4

Let's just get right into it.

1:26.1

Here's my interview with Diana Henriches.

1:28.3

We're talking Bernie Madoff and the death of trust.

1:31.0

You're listening to Better Off with Jill Schlesinger. I am

...

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