Extreme Wealth – Episode 2: Steve Fishman Inside the Mind of Prisoner Bernie Madoff
Bribe, Swindle or Steal
Alexandra Addison-Wrage of TRACE International
4.9 • 582 Ratings
🗓️ 2 October 2024
⏱️ 39 minutes
🧾️ Download transcript
Summary
In this episode — another in our series on extreme wealth — the journalist Steve Fishman discusses his reporting on Bernie Madoff and the collapse of Madoff's $65 billion ponzi scheme. Steve doggedly pursued the story even after the financier was sent to a federal prison in North Carolina. Eventually the two men connected for a series of phone interviews that gave Steve a unique insight into the truths and lies that enabled Madoff to con investors at an industrial scale. Steve explains that greed was but one motivation for Madoff, an apex Manhattan insider who never forgot humiliations he suffered during his youth in Queens.
Steve Fishman is a longtime journalist who lives in Brooklyn. He covered Bernie Madoff first as a staff writer at New York magazine and later as the host and creator of the podcast Ponzi Supernova. His latest podcast series, The Burden, investigates decades of sketchy convictions won by Louis Scarcella, a formerly celebrated NYPD detective.
Transcript
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| 0:00.0 | There is a point where there is no return for him. |
| 0:09.0 | And so, yeah, he embraces it. |
| 0:13.0 | Psychologically, he loves being Bernie Madoff. |
| 0:18.0 | He loves being that guy in the center. |
| 0:20.0 | He loves being that guy who says, you know, |
| 0:23.0 | listen, I can't really take your money. Thanks. You know, I'll keep you in mind. |
| 0:29.0 | Welcome back to the podcast, bribe, swindle or steel. I'm Alexander Rogge, and today we bring |
| 0:34.3 | you another in our ongoing series about the impact of extreme wealth. |
| 0:38.6 | As in past episodes, we're speaking with guests who have a unique portal into this world |
| 0:42.9 | and have been willing to share their thoughts on how it changes the rules that people live by. |
| 0:53.7 | We're talking today with Steve Fishman. Steve has created some extraordinary podcast series, |
| 0:59.1 | including his most recent The Burden, about a rogue New York City Cup. I won't give anything |
| 1:03.7 | away, but do check it out. It's fantastic. Steve was the first outsider to get an interview |
| 1:08.6 | with Bernie Madoff. After stalking him for almost a year. |
| 1:12.4 | I should note that I also corresponded with Madoff for almost a year, but he dodged an interview with me the whole time, |
| 1:19.6 | and I realized ultimately that he really just wanted a pen pal. So you, Steve, succeeded where I failed. |
| 1:25.5 | Thanks so much for joining me. |
| 1:27.1 | It's great to be here, Alexandra, and thanks for that kind introduction. |
| 1:31.5 | Can you tell me a little bit, describe for us, the securing of the interviews with Bernie? |
| 1:38.5 | It was a great journalistic caper. |
| 1:40.4 | You know, everybody did want to speak to him at the time. |
| 1:42.7 | He was the poster boy for a lot of |
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