Up Next - Madoff: The Monster of Wall Street

You Can’t Make This Up

Netflix

True Crime, Documentary, Tv & Film, Society & Culture, Film Interviews

4.2 • 1K Ratings

🗓️ 4 January 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Next up on You Can't Make This Up, we are talking about the Netflix documentary series “Madoff: The Monster of Wall Street." This series reveals the truth behind Bernie Madoff’s infamous $64 billion global Ponzi scheme - the largest in history - which shattered the lives of countless individual investors who had placed their trust in the revered Wall Street statesman. In our next episode, host Rebecca Lavoie interviews director Joe Berlinger. If you haven't watched “Madoff: The Monster of Wall Street,” make sure to add it to your watch-list before next week’s episode. Stay Tuned!

Transcript

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0:00.0	I'm Rebecca Lervoy and this is You Can't make this up as the podcast where we uncover the true stories behind your favorite
0:24.0	Netflix documentaries and films.
0:26.8	On today's episode, we take a sneak peek at the documentary series, Madoff The Monster of Wall Street,
0:33.3	premiering January 4th on Netflix.
0:36.1	Bernie Madoff ran the biggest criminal enterprise
0:38.8	in the history of Wall Street.
0:40.5	He was a financial sociopath, a serial financial killer.
0:44.0	These days, the biggest stories often jump out of the financial section and on to the front page.
0:50.0	Another cryptocurrency goes belly-up.
0:53.0	Investors wiped out.
0:55.0	So-called financial wizards taken away in handcuffs.
0:58.0	It's just the latest in a long line of scams that go all the way back to when Charles Ponzi told
1:04.3	backers he could make them rich by investing an international postage stamps.
1:08.8	While some have been clever and some have been elaborate, no Ponzi scheme in history has matched the size and scope of that run by Bernie Madoff.
1:18.0	When it all collapsed in 2008, he had defrauded investors of over $64 billion.
1:25.0	But Madoff wasn't the typical swindler.
1:28.0	He was a self-made man who started selling penny stocks in the 1960s. He made a fortune for himself and his
1:35.0	clients through his legitimate business, made-off investment securities. He was a
1:39.7	legend on Wall Street. He helped establish the NASDAQ and pioneered electronic trading platforms. Madoff's reputation was unassailable.
1:49.0	What few understood was while his firm navigated the economy from the 19th floor, Madoff was running
1:55.1	a very different enterprise on the 17th floor.
1:59.0	In parallel with his legitimate business, Madoff operated an unregulated hedge fund for exclusive clients.
	...

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