The Madoff Affair (full documentary) | FRONTLINE

[@maryfields1382]

Madoff investors when they thought the money was rolling in: "The government needs to keep it's nose out of our business." Madoff investors when they found out they'd been scammed" "The government should have known this was going on and stopped it."

[@magnificentmuttley154]

_The _*_love of money_*_ is the root of all sorts of injurious things. And by reaching out for this love some have been led astray & stabbed themselves all over with many pains_ ~Saint Paul

[@jeffreylorenger6746]

100%

[@jeffreylorenger6746]

100% agree

[@windsofmarchjourneyperrytr2823]

I'm not a brain surgeon. But you'd think the obvious red flag of a scam is the consistent 20% gains. That NEVER, EVER happens. Sorry.

[@nomatman8352]

hilarious, and so damn true !

[@James_Bowie]

Bienes' body language is priceless. He couldn't tell the truth if his life depended on it.

[@brentfarvors192]

They were ALL lying! They knew something wasn't right! SEC was taking BRIBES to keep quiet. Sad thing is, there are probably 50 other people, now doing the same thing! "Fractional reserve stocking..." Now, they just make up shares that don't even exist...According to the SEC, it's only "fraud"...If the market collapses!

[@Justice-ef9sk]

@@brentfarvors192 And as to Bienes's outlook....its only a crime if ya get caught. Lol. Michael Bienes can blame Madoff all he wants, but he was just as guilty, if not more so. He procured investors for Madoff, to be sure to collect HIS "Thirty pieces of silver" finder's fee.

[@rabidbigdog]

Spot on comment. All these people skimming saying "we didn't know".

[@LowCountryMTB]

I’m on the fence about Bienes.

[@MrPlummerjones]

@By Way Of Deception That's because he is autistic.

[@robertafierro5592]

These investors KNEW their returns were too high, and STILL, didn't question it.

[@abubakariabdulai9505]

Remember human greedy is like the red ants ( when a red ant finds honey in container it consumes the honey too much and finally falls into the container and ends up downed) .

[@Twofiddymill]

Yep …it’s a two way affair..yes Madoff did wrong however there is always a catch somewhere in this game…gullibility and being credulous being key!

[@marlongaines9319]

Not when he’s the chairman of Nasdaq.

[@marlongaines9319]

@@abubakariabdulai9505people weren’t greedy. These were regular people just trying to pay for retirement. Even charities “invested” with Madoff. That’s not greed, that’s capitalism. And ants eat honey because of the nutrients. Not because they like the taste.

[@LisaMitchellGD]

His Sons knew I think

[@smartanajones4u]

Although this catastrophe is over a decade, I can never get enough of this

[@meddem1744]

Same.

[@stevejacobs2764]

Well it’s good to be aware, because it will happen again, and it already has happened on smaller scale with Sam Bankman Fried and FTX.

[@molliwilson5639]

Me too.

[@Massivemonster1234]

Guess you weren't victims. Because they gave gotten the full brunt of it.

[@erik3371]

It's good content. Check out "wirecard" also good.

[@DarthChungus-xl9jj]

Pbs really is the gold standard for deep dives, a great watch

[@jeffhatmaker817]

I agree they make some excellent documentaries, unless the subject of the documentary conflicts with its extreme political bias.

[@theccpisaparasite8813]

No, they aren't. But, they did a fair job here.

[@danielprates2208]

This michael bienes looks like a seinfeld character. "How does an airplane fly? I dont ask!"

[@personalchefservicesofsues4362]

He does! Lol..

[@CMO5569]

Serenity Now!!!!!!!!!

[@thetreekeeper143]

It's because he's Jewish. They have that funny accent.

[@letsgomets07]

Lmaoooo

[@calisongbird]

@@thetreekeeper143 it’s a New York accent, it has nothing to do with being Jewish.

[@issam88]

Great Documentary, only one thing to take from it is: Never try to screw rich people out of their money, if you do, you will end up in jail for a very very long time. Do the same thing with the poor and everyonewill call it "will of the free market" and CEOs will get millions in bonuses and golden parachutes

[@tps178]

Actually...the rich people didn’t mind fraud as long as they were not the bag holders at the end

[@sarahwiles1749]

😉

[@richardbittner3933]

You are so so sadly RIGHT

[@r-kellyspeesheets908]

Correct. Look at Jordan Belfort....

[@blaquentgruppe6547]

Oh stop The poor cheat and steal daily

[@BASE5NYC]

Hard to feel bad for people so blinded by greed & ignorance. They didn't ask any questions because they didn't care, they just wanted returns.

[@louniece1650]

I'm not sure, but aren't many of these people still pretty much still wealthy anyway?

[@Cani6al]

You could make 10% yourself VERY VERY EASILY

[@nickv4073]

Most of these people were bragging about investing with Madoff. "Our money is with Madoff but you can't get in with him. Its by Invitation only". I don't feel any sympathy for these investors.

[@lakersouthpaw]

Yeah and they are all acting like they didn't see the signs. But they can't answer the question why. The real answer is they saw easy money and were so greedy, they didn't care.

[@MegaMontiq]

What about the ordinary people? No sympathy for those who had to move into new homes cause of him. Sell their Cars cause of him. Change their complete life cause of him. Thats the point yes he stole from the rich but they were not the ones that had to go through the pain. It was the ordinadry people.

[@TheSmartLawyer]

I don't blame someone for trying to secure a better future. I do blame Madoff for his fraud and those who facilitated it

[@sandratrusty7757]

Lol neither do I

[@sarajaved5552]

well said

[@josephb456]

"Why didn't you find him?!" He screams into the lifeless eyes of the very people who benefited from not finding him.

[@jv-ep2tc]

he knew the answer when he asked the question

[@GeauxRight777]

Madoff was really a terrible human being

[@clintoruss153]

@@GeauxRight777 hope he rots in hell he destroyed many lives including his own sons

[@robertfolkner9253]

No mention of Congress slashing the SEC’s budget so they hadn’t enough agents and supplies to get people on the streets. Of course, that required honesty, something Congress-types aren’t familiar with.

[@davidwhite7767]

that politician probably voted for deregulation

[@dawnedwards2320]

I find it hard to believe a licensed CPA saying he wouldn’t understand an explanation of the way it works. He is a liar of the extreme. All part of the con!!!!

[@teddmented]

Agree

[@hiphopjewels]

He wants to avoid lawsuits, so he'd better stick to that story, and hope someone believes it. lol

[@sad-azn-boi]

He’s a major con just like Trump. Such a slimy, whiny and crying baby.

[@ForceField9]

@@sad-azn-boi Trump wasn't a con. And if you think hes a con, I cant wait to hear what you say about biden

[@klintsheganaku913]

@@ForceField9 Have you been living on Mars in the past decades? Trump was, has ever been and still is a con! 🐑

[@Stormcoaster101]

15-18%??? And sophisticated investors fell for that??? Shocking how greed can cloud your sensibility even when you know better.

[@vamoneygroup]

If you could get %20 you would %100 do it.

[@ColumbusRealtors-m2z]

Happens all the time but not advertised to plebeians like you. You’re not in the know buddy. 😂🎉

[@Stormcoaster101]

@@ColumbusRealtors-m2z you gotta be severely acoustic bro 🤣🤣🤣

[@ColumbusRealtors-m2z]

@@Stormcoaster101That reply still doesn’t make you any more “in the know”. Quiet…you hear me? Shhh…boy. In the words of Keller P. Williams, “be humble, sit down.” Boy. I’ll say it again, boi?!? Flick that wrist t-girl.

[@JimRatcliff-g5z]

These sharks are getting as much as 35 percent return now days . Far more then Madoff . And getting away with it and the market turns a blind eye on it . Go figure . 😮😢

[@michaelbryant2071]

I swear this Bienes character looks and talks like a Mafia hit man who just walked out of Central Casting.

[@magnificentmuttley154]

@somedeveloperblokey Bienes: "I swear on my mother's GRAVE I was convinced the money was legit" Interviwer: "But it was easy money, right?" - "Yes. When friends found out how much I made, they said 'You must be working hard for it, right?' But I told 'em it was the easiest money I ever made" - "See? Right there. If the money was TOO easy you knew something was wrong" *Famous last words:* _I never knew... I swear on my mother's grave._ Well geez, Mr Bienes, if it smells like a skunk, it's a SKUNK

[@twincherry4958]

@@magnificentmuttley154 If I don't ask, I don't know...I can keeping taking the money wvwn if I suspect anything.

[@cmcgloughlin]

that, or, he fell off the Stupid Truck

[@tillymalone5322]

Agree completely 👌 👍 💯

[@magnificentmuttley154]

@@cmcgloughlin Right! That's the spirit! He hit every branch of the tree on the way down... multiple concussions with brain damage 😋😋🤕 *EDIT:* Well the YT 'bots are at it again. Benign & harmless as it is, my comment was removed. This is my attempt to put it back... Good grief! Can't anyone have an OPINION or tell a harmless joke anymore?!?! Evidently not!

[@anonykip]

This Bienes fella should've been a Hollywood actor. I'm sure he would've made a good fortune playing Italian mob boss.

[@chrisestey7277]

They were all greedy Investors, everybody .They got what they deserved

[@projectmatt11]

He's a jewish guy from NY.....they all sound like that.

[@grahamsawyer831]

absolutely. whenever people start swearing on their mother's life they are invariably lying.

[@hutseh]

As God as my witness and on my mother's grave? Mom would be so proud that she raised such a loyal son; able to use his mother's name so piously.

[@moisemensah8233]

Scorcese should give him a call

[@theycallmetundraboy]

Frontline is honestly such a blessing to this world. Real talk.

[@theresachung703]

💯

[@andersonwang1746]

They make very good shits, honestly.

[@thecarpetman7687]

If it was up to republicans…it would be shut down

[@sonnyjohnson8887]

A drop of white ink in a sea black ink is not really a blessing 😺, but it does not hurt

[@Russellsplant]

They literally never have a bad episode.

[@Scorpio-unicorn14]

It is always a red flag when you are not allowed to ask any questions.

[@boop79]

100%

[@pastramiking6874]

Just like Theranos

[@Lucian-mg9mw]

That makes me think of Elizabeth Holmes of Theranos

[@LLandS18]

Can you imagine thinking that God wants you to have this money. The type of delusion you have to be into believe that nonsense.

[@HamishBanish]

America right now needs to note this applies to presidential candidate Harris Shw won't take any freakin' questions. That is a freuckin' big red flag

[@erichodge567]

There's an old saying: The big thieves hang the little thieves. The takeaway: The big thieves never hang each other. The documentary could not have made this point any more clear.

[@SKratch-jx4mb]

Absolutely! Everybody that was giving him big money KNEW what he was up to.... Only when he got caught, Then tried to pretend they uninformed, hapless victims in the whole thing Amazing how his whole family was ravaged after the scandal...only the wife escaped with her life

[@percivul1786]

"I blame the government. I really truly do." Says the guy who took no action to investigate the guy showing financial magic tricks. Says the guy who KNEW something wasn't up to snuff but loved those initial checks. Now that the well is dry, it's the governments fault.

[@LLandS18]

I get what you're saying. But it is the government's fault. It's specifically it's Congress in the Senate's fault. Because the agencies that were designed to go after these types of financial crimes had their budget slashed to lessen 5% of what they actually needed. Which by the way were Republicans trying to make the up the The loss of cutting the tax code for the top 10% of Americans. Then the Republican party under Nixon weaken existing federal laws that allowed these se government institutions to go. After these kind of people. They weakened it to such a point that these institutions had no power to go after these people. I mean you got to do your big donors a favor right? Then you had deregulation. You know Reagan's entire platform. So thanks to the Republican party, the se government entities didn't have enough Budget they didn't have enough staff. They didn't have the tools they needed legislatively speaking to go after these people. All of that had been cut to the That the institutions and the parts of the department that go after these type of financial frauds were functioning on their last dying breath for the last two decades. And the Republicans want to sit on that Senate and scream and holler at the agents who were completely handcuffed by the Republican party. The irony in that is amazing. And the irony of the fact that the American people don't see that. But everybody else in the world sees it is amazing. And no, I'm not saying the Democrats are innocent because they were in power. They allowed that weekend of laws to stand when they were in power. They allowed that budget to remain so low. Well they were in power. But saying they're both equally very responsibility is like saying a 1991 rusted neon and a brand new top of the line Bugatti is the exact same thing because they're both cars.

[@dumiphama8811]

From 1:40 to 1:50 listening to how his friend is describing news of Bernie's arrest and what he thought the reasons were "sex crimes". Shows you who these people are and what they do behind closed doors.

[@jasonbourneistreadstone]

Thinking about this now, the movie "Wall Street" with Michael Douglas and Charlie Sheen was made waaaaay before this was ever exposed. Maybe Madoff used it as a blueprint. Wall Street is incredibly shady and corrupt. The SEC are inept clowns.

[@natalieholmes5313]

Glad I wasn't the only one to catch that.

[@devonw.1577]

I noticed that too. Thinking of "sex crimes" in a "nanosecond" doesn't exactly make them look good. I bet there's so much dirt that hasn't even been uncovered.

[@neversayjello]

Lol I thought that was odd.

[@lisev415]

@@neversayjello right😂 that was soooo telling

[@1jesus2music3duke]

This is my favorite comedy special. From everything about Bienes to “3200 seems to be… more than 15,” Frontline is killin it!

[@falldownhard]

This was by far my favorite of all the documentaries on Madoff. Frontline at its best - so much content packed into less than an hour.

[@mrsx7944]

The new one on Netflix isn't bad.

[@GreekOrthodox7]

@@mrsx7944 Netflix is bad, stop using it!

[@Fontaine-qe1ke]

​@@GreekOrthodox7 i9kkkkkkykikkk9yyikik6koooooo9kkoookyp0😮 ok sis p😊

[@sparkleevenmore9638]

Frontline is THE best

[@pkhaloobonaccio9883]

in a non us resident but rest assured that i consider every PBS documentaries as extremely insightful .

[@professorvoluck9311]

Madoff’s programmers were the real geniuses. They designed software that automatically allocated fictitious trades to individual accounts and created a phantom computer trading platform in case an investor, regulator, or auditor requested to see how the operation worked. They knew it was a fraud from the beginning and should be in prison.

[@blaquentgruppe6547]

Professor Madoff program the computers Can anyone in here duplicate what Madoff pull off? MAN EH GENIUS mister GREEK IN RUSSIA HE BE MAGNITSKY 'GIT

[@blaquentgruppe6547]

Still don't wanna give Madoff credit What about intestinal fortitude x🖤👁

[@michaelcallas9463]

Imagine that genius be used, I don’t know, to promote transparency in financial services and insurance? We’ve got a ways to go as humans. And @Professor, you’re right - lots of integrations to manage, especially in those days.

[@stevrgrs]

Yeah I can barely balance my trades database let alone pull something like that off :P

[@KyleN456]

The end

[@Survivor-mf1nm]

These people KNEW the investments were sketchy, due to all the secrecy. But they didn't give a shit, when cash was rolling in.

[@lonelylantern9135]

Well said!

[@allenkemp3124]

Exactly

[@videosuperhighway7655]

They thought all the secrecy was because they thought they were making money by cheating the system via front running trades on the exchanges. So thats why they went along.

[@astroemerald3175]

The MAJORITY yes others were largely clueless . Others saw themselves part of an elite rarefied privileged few . arrogance pure denial and narcissism were there folly . In the end it is Ruth who walked away with 2 . 5 million did she know the truth . I think she did . I know she lost both her children but in interviews when she mentions her children she shows zero emotion . The only passion you see is her passionate denials of her role in the crime . He robbed Holocaust survivors of there life savings .

[@windsofmarchjourneyperrytr2823]

Wouldn't a theoretical 20% CONSTANT claim or "gains" be the dead ringer flag, tho...?

[@Ristofec]

I’ve worked in the financial industry for years and I’m currently employed with a Fortune 500 company. I make less than 6 figures a year (just a regular service representative), but I’m telling you, just from my experience, the entire financial industry is riddled with oversight and fraud.

[@charlesbosse9669]

Especially government officials.

[@Anna_Stetik]

The SEC was, and still is, a joke.

[@safc2951]

It’s all rigged

[@peacenow4456]

Martin Smith is one of the very best investigative journalists/documentary film makers on the news beat, today! His details are unmatched. So many thanks to his co-writer Marcela Gaviria for your tireless work and your research crew!

[@magnificentmuttley154]

💯% agreed. Martin Smith & Lowell Bergman are the last of a dying breed. Everyone from Walter Kronkite to Mike Wallace, Ted Koppel, Charles Koralt, & many others are long gone now. And accolades to Bill Kurtis for his _Decades_ Channel... Investigative Reporting has been dead a long time in this Country, along with the fine people who for several decades (?? 50 years) made it what it was. Even PBS' _Nova_ occasionally deviated from their usual Science & Technology to delve deep into major stories at one time, such as the "Exxon Valdez" disaster in 1989, with their episode _The Big Spill..._ We're talking about once in a lifetime & once in a century exposés, with the very best background information & due diligence... Miles of videotape locked away in archives likely never to be seen by the public again, except MAYBE in some randomly occurring, future PBS special 😪🇺🇸

[@ShutDFckOff]

30:00 It's funny how Sandra Manzke ( with all her education) is being told by Martin Smith what she should have done back on those days , being on top position, how to catch and confirm the legitimacy of Bernie's account. But Bernie was really smart because he targeted the likes of her who is greedy to the core! They are so greedy with the constant flow of money that they did not bother to confirm.

[@kmcrae6687]

LIGHT! TRUTH! JUSTICE ⚖️

[@commanderkeen3787]

You don't get this big without the government, other Wall Street firms and the SEC being complicit in the crime. Money talks. And let's not pretend this stuff still doesn't go on to this day on Wall Street

[@cliftt]

Facts.

[@motivateyourself6819]

Super Facts

[@ToyHigh]

FACTS 🎤 💯

[@adrianaalcala9693]

Bernie knew he could get bigger by dumping money into people who “asked questions” Bernie closed mouths with money....

[@tbthomas5117]

As V. Lenin was alleged to have said: "When the time comes to hang them, the capitalists will sell us the rope." I could never quite figure out why our leaders thought it was a good-idea to partner-up with the most bloodthirsty genocidal regime in recorded history. I remember reading a news item in 2010 saying that General Electric had decided to build jet-engine factories in China. I thought: "Jet Engines? the kind we use in long-range bombers? Why would the government approve that?" Now we know.

[@u2ooby]

Two accountants had no idea how this magical 20%+ return was created and no deep questions to find out...maybe they worked for Arthur Anderson i.e. Enron

[@rickmercedes4285]

Right !

[@delacruztaylor]

You always plead ignorance and pass blame............its the Ethical Way

[@twincherry4958]

The accountant game: Don't ask, don't know

[@windsofmarchjourneyperrytr2823]

Anyone who's ever read the markets knows its never, ever consistent, especially not by an even 20%. Duh.

[@BreezyE-d3n]

@@windsofmarchjourneyperrytr2823 right, even 8% is dodgy

[@raquelvlogzz1183]

Nothing better than a humble man full of integrity..Period!

[@kingsolomon0]

The fact that Mr Madoff was not registered by SEC and did not accept or entertain questions from clients was a huge red flag .

[@nelyubov285]

Einstein

[@Matthew-wp5fp]

“We were never pigs” says the greedy accountant acting ignorant. Corrupt to the core.

[@emmabovary1228]

My favorite, God meant for us to have this money.

[@jonking5318]

That was priceless. It told me everything I needed to know. Greedy crooks.

[@youtubeobserverz]

(7 min 28 sec) "Easy peasy."

[@Oltl21]

“I never work hard” is a dead giveaway

[@NormaJean951]

@@emmabovary1228 my favorite was a cpa pretending he wouldn’t know enough to understand the trades.

[@arsenal10141014]

Everyone was happy to go along with it. Greed. Pure and simple.

[@lindsayaddie8554]

That's the way some of these fat cats\upper crusts think. As long as they getting richer and richer.......

[@22jaydogg]

Exactly

[@TheCubert120]

Greed is the American Dream. Wholesome and honest, but always driven for the desire to be affluent and well to do. The very nature of investing is greed. "I want my hard earned money to no longer be hard earned. I want my money to make money, and I don't have to do a thing." The American motto, get paid for doing nothing.

[@stephenholmes1036]

Spot on

[@EchoJ]

Greed is a lot like "Love"; intoxicating and addictive to the point that it blinds people to otherwise obvious truths.

[@leas7830]

Well said.

[@Fastbikkel]

Blinds people? To me it looks like they do this consciously and that being blinded is not the case. But im not the expert on the matter.

[@SecondTake123]

Any successful scam and pyramid scheme always has a legitimate component as well. Madoff not wanting to register with the SEC or get licensed should have been a red flag!

[@alexcarter8807]

There's an excellent docu on the original Ponzi on here somewhere. Even after he was busted he had people singing his praises.

[@jtiger1062]

Why do people have all their money with one person...they are greedy and I have very little sympathy ..

[@SecondTake123]

@@jtiger1062 He screwed over elderly couples too who just wanted to invest their savings.

[@jtiger1062]

Other investors accepted lower returns because they knew it was too good to be true …you can’t protect people from being greedy so don’t expect to be bailed out by the government tax payers money..

[@yesterdayitrained]

@@jtiger1062 : No one in this documentary asked the government to bail them out. Yes, they tried to blame the government, but no one asked the government to give them back their money.

[@troybirch]

I will never understand how people always blame the government whenever there’s a problem but Can’t comprehend that when you eliminate regulations you have absolute chaos.

[@figaro-dg5c5]

Criminals get caught, they shift blame to the government or to anybody except themselves.

[@lolacole5653]

And no self accountability.

[@dahliacheung6020]

⁠indeed. Like, you're dealing with trades and investments. There's no such thing as zero risk and 18 percent returns are just not happening. And in the slight chance you managed to get in early enough that you do see those returns, it's because several someones who invested more recently are never seeing a dime of that money again. Yet we see time and time again with FTX, with all these crypto shitcoins- people seem almost *more* willing to literally throw their entire networth away when someone promises them something impossible.

[@t4t359]

I will never understand why people have allowed The Fed, a private, non-governmental agency, to have zero regulation.

[@Jaxymann]

​@@dahliacheung6020The twin forces of Greed and FOMO are a hell of a way to cloud people's judgement. I can understand how some people see value in taking risk in the stock market to profit, but at some point, you have to draw the line and realize that sometimes things just are too good to be true. There's no such thing as a 0% risk investment, but the sheer scale of money and profits involved doubtless swayed people into making horrible decisions in the eternal game of one-upsmanship that is capitalism.

[@tylerkeller8869]

The amount of greed and willingness to turn a blind eye in both the 2008 collapse and Bernie Madoff, goes so deep and extensive that the show American Greed could do a 16 part series on it and not run out of material.

[@wendygill8013]

WHITE FOLKS!

[@markfroman738]

@@wendygill8013 greed is. Sickness

[@markfroman738]

Greed is a sickness.

[@jeanlind7540]

Exactly same in UK & many UK investors put money into Madoff through their high street banks. No bankers went to jail.

[@MSWSB]

These people just took money for pretending to buy and sell stocks. Typical dishonest business practices. They are nothing compared to the W.H.O., the CDC, the FDA, the AMA, The traitorous politicians, and all the complicit “news” agencies that helped perpetrate the greatest crime against humanity that we’ve seen. The NAZI’s of 1940’s Germany were identified as the monsters they were and punished for their crimes. The global cabal that foisted the frauds around CO**D 19 on the planet and all the extenuating damage on generations to come have all been ignored and escape even the smallest justice for what they colluded to do.

[@robbywilson6729]

I have worked in corporate finance for just about my entire career, and it is baffling to me that this fraudulent enterprise survived as long as it did. Especially as high profile as the firm was, you would think the SEC would have been all over them when even cursory examination from an untrained eye would have quickly pointed to the mathematical impossibility of returns. The fundamental problem of Wall Street is that the banks, hedge funds, brokerages, IB's etc. are always infinitely more talented and resourceful than the fed employees and agencies who are tasked with stopping potential impropriety. Any given day there are hundreds of such con games in play, and only a minor fraction are ever caught.

[@Matt-cr4vv]

It is always an issue because top talent regulators almost always get swayed over to the private sector outside of the few passionate who remain. But I always think the absurdity of it not being caught more than anything was the bank account at Chase that held the money. How in the world does Chase never say anything about this account that has $1B+ sitting in it? Amazing that nobody bothered to wonder why such an absurd balance of deposits is sitting in this account.

[@AnkhGirl]

So then what is the REAL point of the SEC??

[@freddiewadling2090]

What's more, the fraud was pointed out to the SEC. Several times. Several investigations were made. They found - nothing.

[@jlb122587]

@@Matt-cr4vv I have to believe that its always the same reason: not my job to throw stones especially when I am making money off it. Chase was definitely earning interest on that money.

[@sonsofthewestredwhiteblue5317]

You build a better mouse trap, nature builds a better mouse. The con seem to hinge entirely on the dopamine hit that investors acquired in not only apparently making tidy returns on their money, but the egoic kick they’d receive from being esteemed and astute enough to be along for the ride.

[@displayfireworks]

46:44 This man said it so clearly. It was all good until people started to want some of their money back. Its all just numbers on paper until you want some of your numbers back.

[@johnrogan9420]

Due diligence...lol...try cement overshoes.

[@johnrogan9420]

Unregistered with the SEC but chairman of the New York stock exchange.

[@keplermission4947]

If God had meant plebs to be Kings he would have given them brains.

[@GS-zc4sk]

Yes. I think when he hooked the international big fish. They were too big to feed from the pond. How do you get investors larger than that??? That's simply as high as you could go with a Ponzi scheme. As Madoff demonstrated.

[@thelouster5815]

@@keplermission4947 If God wanted kings he would’ve protected them from plebs.

[@angecynthia347]

" my wife and I came up with an answer!! God wanted us to have money, God wanted us to be rich!!" hahaha complete con artist😂😂😂

[@AccentYouLovingheart]

Never satisfied.😂😂😂😂

[@loretta_3843]

Oh dear God, you can't make this stuff up!🤦🏻‍♀️

[@pabloescoto7229]

I dont know why but just listening to him say that and when asked about whether he knew or asked Madoff how he was making that kind of money and saying "nevaaah" he just sounds like a crook.

[@colenexoxo8939]

I Can't believe that he said that. When he has to answer to God he will truly think he can con God....Wow😱

[@supremeteam1831]

@@pabloescoto7229 yep. His "ohhh I don't know. Do I know how to split an atom" BS... like this guy is literally showering you with an INSANE ROI YET YOU DON'T KNOW HOW HE DOES IT, "HE JUST DOES IT" YEA, OK👌🤣

[@amutah8063]

I'm sorry but if someone promises you a steady annual return of about 20% and you believe him, then you can't blame the government. Most of his investors were sophisticated people who should have known better but they were blinded by greed.

[@Swandivein]

These days an index fund nearly does that for 0.03% fee. How are hedge funds still alive?

[@jonking5318]

The government shares blame. If they were middle class or poor most of those people would be interviewing in prison. Totally different rules.

[@davidwright873]

and 'Greed' being the operative word here. Without that, Madoff's got nothing...

[@wingberry123]

Exactly what I was thinking while watching. These people were mostly wealthy and highly educated individuals. They must had a bit of doubt.

[@jordanalbano9780]

At 2:47 when he shoves the cameraman & the cameraman shoves him back even harder is the most New York thing ever

[@austx290]

Exactly !

[@kristenandco.2223]

One of my favorite docs on Madoff. I love Frontline! ❤️❤️❤️

[@chel3SEY]

Manzke is extraordinary. She obviously turned a blind eye to everything odd and question-begging about Madoff, as long as the money was rolling in. She has some cheek appearing on camera to brush all this off.

[@AoifeNic_an_t-Saoir]

Exactly! It sounds like she doesn’t even really believe her own protestations. Her ignorance makes her just as culpable as the rest of them.

[@jonking5318]

She was the worst. She should have been charged. Along with others.

[@malcolmtaylor7567]

Totally agree

[@mattmarkus4868]

Previously chairman of the NASDAQ, the guy wasn't even registered with the SEC and had thousands of customers and billions under management. Simply crazy. And the SEC was alerted at least 5 times and nothing happened and nothing ever would have happened if not for the financial crisis in housing. It's almost hard to believe!

[@yankees29]

Didn’t one of his relatives work with the SEC at one point.

[@mrmoneybagz]

What an amazing documentary. These were 58 well-spent minutes of my Sunday.

[@ThemeticulousRealtor]

Me too😅😅

[@ObiomaEleje]

Right sooo true 😅

[@emiliorosa9896]

thank you frontline for this story love the way u guys are so professional

[@ST-xg3gy]

Class enterprise.

[@emiliorosa9896]

@@ST-xg3gy thanks you for being positive energy

[@masonj910]

Yh the narrator is so good

[@adammcgirt7123]

"We were never pigs" 🤣🤦‍♂️ I promise ya, this guy pigged out all the way.

[@greenjupiter]

What did he mean by we were never pigs.

[@adammcgirt7123]

He's trying to say they were never greedy,

[@renewashington791]

😂😂😂😂😂

[@Cientxa]

How can you not watch this, it is so well done. Our capitalist culture is greed driven, it is not unthinkable that this is still happening with improved technology available to today’s scammers.

[@madhugmk]

I think capitalist culture has was the driver but the SEC was the democratic institution that failed to stop that greed. There will always be scammers and cheaters but the govt's failure to address it for 10 years clearly shows how democracy can erode over time.

[@unknowndriver6652]

Absolutely

[@juliamundt101]

Crypto is the next domino to fall -

[@carsonteague9645]

Sam bankman fried

[@trombleysingleton]

​@@user-bw2pm2ff2cRonald Reagan profile picture surely does not have a biased take on this matter

[@E1N9A8N0DA]

The people who gave their money to Madoff are the ones who praised him and sent all their friends to his office. And the second the scam came to light, those same people pointed their fingers directly to him, and they were the first ones to call him out. They perfectly knew it was fishy and signed in anyway, yet they played the innocent card when they lost everything. By blindly entrusting millions to Madoff without any precaution or questioning whatsoever, they reaped what they sowed and thus they're almost as responsible as Madoff.

[@airam-sj2172]

Madoff broke a standard law, which was a red flag from the beginning. He wasn't registered.

[@teddmented]

The fund managers knew and didn’t care either

[@ewaorlowska8027]

@@teddmented . . n. ,

[@tradelogikk8182]

"he led you to the pile of dung that is Madoff and stuck your nose in it and you couldn't figure it out" LMFAO that was so so great lol 😂

[@DetectiveTrupo203]

That hearing is the best part of the entire video, him saying "one guy and his friends figured it out over a decade ago and you guys couldn't figure it out." Then she starts talking about having actions pending in the southern district of New York and congressman Ackerman says "you took action after the guy confessed, he turned himself in, don't pat yourself on the back for that". Absolutely hilarious, the SEC couldn't have been more incompetent, it would be like the FBI only catching criminals who confess and bring their own evidence against themselves to an FBI field office. Ridiculous.

[@robertmahler8894]

I worked in a similar environment, and the unspoken rule was that you do what you have to do to get the job done, and as long as you are successful, ALL is forgiven, including bad behavior, cheating, sexual harassment and just being the worst human being--the end justifies the mean. If you fail, then all you do is under a microscope and everybody is preaching righteousness!

[@lonelylantern9135]

"The end justifies the mean" is the psychopath's mantra worldwide and in any walk of life.

[@tonytresfg2323]

That's finance.......i worked in that field too VERY stressful work environment. Every showing off trying to make you look bad to impress higher up mgrs. I'm a lyft driver and don't miss it at all.

[@teddmented]

Truth

[@dudelebowski483]

Case in point Wells Fargo

[@1927su]

Did you work for the former President? Wow…

[@A1sinceday1-88]

This story and Enron have always interested me so much. That level of stealing is SO SCARY to me. Yikes 😳!!!! How do they manage that kinda secret.

[@lavonnealexander6936]

That’s because people are greedy asf.

[@stephenholmes1036]

Pure greed

[@Sameoldfitup]

“Has it ever struck you that life is all memory, except for the one present moment that goes by you so quick you hardly catch it going?”― Tennessee Williams.

[@yesterdayitrained]

Deep.

[@greenjupiter]

This quote showed me something life changing. Thank you for sharing. God bless you

[@jstone247]

His passing was barely noticed. What a piece of work.

[@thankthelord4536]

Nobody cared about this thief. Big deal.

[@CrossmanTV1]

It was just another day for most people.

[@frankdenardo8684]

He kicked the bucket

[@yannick245]

I really didn't know he passed! How come?

[@kennymartin3416]

The people who thaught they would get 20% return on their investment are just as guilty. Zero sympathy..

[@apointtomake1517]

Best part is watching the "victims" being asked the hard questions and watch them squirm to try and answer without looking bad.

[@YTDE426]

Yeah, bc if you are investing you are bad by default 🤡

[@conduit242]

Yeah that didn’t happen even once 🙄

[@jamesbarker5254]

You have to look back at the time some of them invested. Its not like today were if you dont have a clue about something you can google it. Google and the internet didnt exist.

[@conduit242]

@@jamesbarker5254 They could have gone to a library, which is a building full of knowledge.

[@jamesbarker5254]

@@conduit242 look im not saying that they couldnt do their own due diligence I'm just saying it was a little harder to figure out numbers when it comes to the stock market back then especially at the age that some of these people were at.

[@benno291980]

6:12 'how does an airplane fly? I don't ask.' 7:45 'we were like an airplane, you know how an airplane works' What a frikn sheister

[@sweeepzone5155]

I always wonder what it was like working at Madoff's firm. Coming in day after day, sitting at your desk working, your one to one appraisals and meetings etc etc. And the whole time it was just a ponzi scheme where no investing/trading was even taking place. Like those employees were like the most dedicated real life background artists/extras of all time

[@cacornhusker2940]

Working at Madoff's Firm was akin to being a Gov't Employed Dreg.

[@rhlopez2694]

I doubt they even showed up.

[@gothenmosph5151]

Madoff had two firms, the legitimate one was where the vast majority of his employees were (like 98% of them) and the other was a total sham. They were in the same building, one took up the 18th floor and the sham business was in the 17th floor and was apparently devoid of people beyond a just a few (a couple who went to prison with him and some secretary types who didn't know enough to understand what was going on). For the secretary types it was probably an amazing job. I'm sure they were paid quite well and didn't have nearly as tough of a job as they would have in a legitimate business. The other few people on the 17th floor went to prison along with one outside 'auditor'. I imagine their existence was pretty full of stress wondering when the house of cards would collapse but also reveling in the money at the same time.

[@sweeepzone5155]

@@gothenmosph5151 This clears a lot up. I could never understand the set up before

[@DanWilan]

Most business are ponzi but his was a little bit obvious

[@rachs57]

I've always lived in poverty, my father was in 'shmattas' and he too always seemed at the mercy of more astute business partners who stole from him and ultimately our family. So I found this fascinating and it bolstered my well-founded cynicism about easy money...it may have worked or continues to work for some, I'd rather get my hands dirty, sweat and make an honest buck which buys me much less, but I know what I own, truly is mine and paid for in full.

[@liliango52]

I Couldn’t agree more

[@emmabovary1228]

Many never realize their desire for cash, fuel fo power and more is the end of humanity within the soul. Far better to be living with less, or living with your own results of. Hard work, than be beholden to the incessant itch of greed

[@glynismorris2196]

What's a 'Shmattas?'

[@michaelcleary267]

@@emmabovary1228 I came to see that hard work s good,using your labour to be paid in paper fiat currency is you being swindled.Bigger than Mandoff by a country mile,and it's the banks and government doing it.Look up about fiat currency.What is called money today with nothing backing it but debt.

[@khalidalali186]

I think it’s Yiddish.

[@joefin5900]

Why the SEC waited five years to go after him is the real story.

[@kimstringfellow6493]

They were too busy building him up. Just like how the exhaled SBF.

[@gabriel08607]

9 years actually. Markopoulus first wrote to them in 1999

[@Zoomer30_]

If, in 2008, I was getting statements that looked like somethings printed in 1980, I'd call the SEC.

[@satorified1612]

43:56 - "You took action after the guy confessed! He turned himself in! Don't give yourself a pat on the back for that...." haha. Rep. Ackerman of New York is my hero.

[@hutseh]

Direct attention away from one's own discrepancies. None of these politicians should be anyone's hero.

[@satorified1612]

@@hutseh .....wouldn't doubt it, but it makes for good theater either way.

[@wendygill8013]

WHITE FOLKS!

[@wendygill8013]

WHITE FOLKS!

[@scottodonnell7121]

@@wendygill8013 He's a Jew, probably didn't consider himself White.

[@joebournat]

I love the couple who blame everybody but their own greed. Madoff and others like him succeed because investors do not do their own due diligence and are driven by their innate greed which prevents them seeing how unrealistic the promised returns were.

[@falseprogress]

A perpetual growth economy is also a Ponzi scheme. Wait until global oil production peaks, meaning the U.S. fracking component propping up the illusion that 2008 was merely a "financial" recession (conventional crude oil had already plateaued around 2006). Few people care to fully understand how the economy is propped up by finite fossil fuels, which cannot be replaced by "renewables" on such a vast scale.

[@thelouster5815]

Oh, they do the DD. The thing is they’re not looking for ethics, only money. If it makes good money, damn the consequences. Wall Street people would nuke the world if they could profit from it.

[@Mo-yd8xc]

Sounds a lot like this Nigerian prince scams.

[@edwardfiorvante6123]

Why didn’t these people do their own due diligence? Like I said they didn’t ask questions because they probably felt something was not right and illegal but as long as they gained money they didn’t care until they didn’t!!!

[@LCplDwayneHicks]

Yeah we should blame the victims in this case.

[@bokani79]

I have a feeling the big guys at the SEC had taken cuts for directing some clients to Maddoff and they didn’t do anything because they were still asking for their money back.

[@davelowe1977]

I ended up laughing the whole way through. All those predatory greedy people preying on each other and they all got screwed. Oh, and it was the government's fault lmao

[@luzgomez2843]

Yeah but the low class had to pay for it

[@blackhat1018]

Listening to Sandra Manske is just hilarious. Every time she’s confronted about something she just deflects and says, “Well…that’s just how it was…we didn’t question it…” She was in on it. Had to have been. How can you recognize all these things, claim to have been “bothered” by some of them, and still go through with it without being a part of it.

[@annec6200]

Yes. When that woman answered questions with: «Yes, but…»…she’s basically telling us, the viewers, SHE KNEW BUT DIDN’T CARE BECAUSE THE $$$ WAS ROLLING IN. GREED. PERIOD.

[@patriciaoreilly8907]

Because that's how things were , you don't ask questions. Dangerous game when dealing with big money. It's the name of the game .

[@stuartmenziesfarrant]

100%

[@td2555]

Exactly

[@evalex71]

Exactly. Not sure why her lawyer thought it was a good idea for her to do this documentary

[@phanCAbe]

Not a single innocent person in this whole doc.

[@pendejo6466]

Not even Bernie Madoff?

[@alvinasandra6233]

@@pendejo6466 😂😂😂

[@jigminidup2406]

Not even the narrator?

[@ivangutierrez3507]

@@alvinasandra6233 😆

[@Andy-em8xt]

What about the guy who figured out the scam and sent it to the SEC

[@lindathrall5133]

HE WASN'T A LEGEND HE WAS A THIEF

[@randomdude3646]

💯 why are people glorying this man?

[@alecnickel4572]

Its the same as people glorifying Jordan Belfort after the Wolf of Wall Street movie. People dont learn

[@Amy-un6oh]

People are stupid and will glorify anyone.

[@ehiggins360]

Hater

[@cappsginny699]

I don't see any glorifying...

[@dahliacheung6020]

"Thirty-two hundred seems to be more than fifteen," made me spit out my drink. It's so ridiculous I can't help thinking, "but are you sure it's more? Can you really be certain?" And said with a straight face too! These people, man. They lie as easy as they breathe and make the most stupendous statements as if they were saying something like, "yes, I did have coffee this morning..."

[@2001lextalionis]

the corruption starts at the top and trickles down, unlike the money which stays at the top

[@SOS-ct9mv]

lol true, true.

[@Amy-un6oh]

Like our government 🙃

[@lallen4999]

And, now we had the orange dumpster for PRESIDENT!!

[@zillap3343]

Hahahahahahaaa

[@gabrielsilvas692]

@@lallen4999 the orange dumpster is a wholeeee lot better then the corpse we have for a president rn dontcha think

[@dudeonbike800]

I cannot recommend "Nobody Would Listen" by Harry Markopolos enough. An excellent account by someone who saw the Ponzi scheme a mile away and no one cared to act.

[@davidstrohl]

And not one regulator at the SEC went to jail. Not one. Even though they have a duty and responsibility to investigate. The corruption we have in enforcement agencies in this country is completely out of control.

[@janakjodhan7982]

Frontline ought to fund another episode in this regards. The next market crash will be blamed on the Pandemic, and this Wall Street corruption/Ponzi's will continue.

[@robertmanfredthurrigl9424]

SEC officials are scumbags and are so far up thier own asses it reeks of negligence .

[@cacornhusker2940]

@@davidstrohl Gov't Employees should be called "Smulletts".

[@rhlopez2694]

Who?

[@apemancommeth9651]

His sons both died as a result of the stress and shame he gave them

[@frankdenardo8684]

His dad has kicked the bucket

[@oncoucharrest5910]

One son died of cancer, the other committed suicide.

[@apemancommeth9651]

@@oncoucharrest5910 right! The one that committed suicide died on either his dads birthday or something specific to his dad, and the other probably had severe stress caused by this situation which can be a contributor to getting cancer! That’s all I was getting at!

[@oncoucharrest5910]

@@apemancommeth9651 the son was diagnosed with cancer before the news broke about the scheme but I’m sure the stress of the situation didn’t help with his well being. Take care 😊

[@apemancommeth9651]

@@oncoucharrest5910 🤝👍

[@Beauloqs]

I love it how NONE of them acknowlaged their greed had something to do with their losses.....

[@mariettestabel275]

💯.

[@stephenholmes1036]

If something is to good to be true it is !

[@mugumyapaultheafricannomad9488]

If Madoff had chosen to be in politics and run for government he'd still be a celebrity and role model because that's exactly how government works.... He'd never felt out of place

[@andrew_koala2974]

Mugumya Paul the African NOMAD The reason your statement is correct is that Bernie Madoff and those in Government and other 'permanent politicians' who wear Military Uniforms and high ranking insignia are all Psychopaths. The less "successful" psychopaths are to be found in prisons - while successful ones are to be found in positions of power (i.e., "among political and military national leaders - labor union bosses, etc.")

[@ohio72213]

If Madoff got out of the game while he was ahead with all his money and entered politics I fully believe he would've received the democratic party nomination. If Trump could do it Bernie could have. He was a big donor to the democratic party and its members. He was well liked amongst them and easily could have funded a presidential campaign.

[@kimstringfellow6493]

Exactly!

[@christineallen4852]

The insane thing is if the recession didn’t happen he would have never been caught

[@michaeldoughty1782]

I do wonder how many others are doing this type of scheme and are getting away with it?

[@SHurd-rc2go]

I call it a crash.

[@austinstambene3087]

@@michaeldoughty1782 Ken Griffin took over for Bernie

[@andrew_koala2974]

Christine Allen - You are misinformed. - Madoff described the investment fund as "one big lie" to his sons - who promptly informed the authorities. Madoff was arrested the next day and his assets were frozen - as were those of his wife - and sons' assets later on. Do your homework.

[@christineallen4852]

@@andrew_koala2974 what am I missed informed about ? He only admitted it b/c ppl were pulling out and asking for their money b/c of the crash !! Do your homework !!

[@goldenskeptic6309]

He was just living up to his surname....... He, " made off" with everyone's money!!!

[@MrDuds1984]

The NetFlix special on Maddof is amazing and worth the watch. It’s crazy how the SEC looked the other way on this whole thing when he was right under their nose

[@Eitner100]

When it is too good to be true, it always is too good to be true. That saying holds water through the ages. Since greed is a player in financial games; one should know that criminals like this one are everywhere. Don't blame the government or this fraud. Blame your own greed.

[@jonking5318]

The government shares blame. There are no regulations. After 2008 , glass stegall was created. Granted it was weak but at least something. Republicans gain the Senate its cancelled. Our government is absolutely guilty of wrongdoing.

[@Mster_J]

The chances of us being alive and winning the sperm race is too good to be true. The chances were astronomically low. So I guess life isn’t real as it is too good to be true

[@sneedly3355]

It’s not greed when your under the impression and being lied to about what you’re investing is legit and going to help you. If you’re not investing your money or trying to grow it in other ways than a paycheck, you’re financially inept.

[@figaro-dg5c5]

Blame Madoff

[@cbsundance]

​@@sneedly3355No, it's greed.

[@kelvinloeb812]

I would count my fingers after shaking Bienes's hand

[@dyembag]

😂😂😂😂

[@sene311]

He is a true liar.

[@ms38980]

Almost missed myself! Lmao

[@jontolar6838]

He’s a used car salesman at best.

[@WhyRush30]

🤣🤣🤣🤣🤣

[@JamesHahnII]

16:47 This guy looks up every time he tells a lie. He’ll do it again in a second watch.

[@wsmc14]

Yup! I noticed exactly the same thing. He is quite the songbird!

[@michaelrief4424]

You can lock your doors to a burglar but it’s quite difficult to lock up to stop a liar.

[@demeraragold4644]

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣...." if you dont't believe me just watch..."

[@charlestidwell5361]

I noticed that too

[@asnider3155]

Yeah, that is a tell alright.

[@jacquelinewilson2279]

What an impressive documentary. Sophisticated analysis and entertaining. Thanks

[@DonLoganfan]

Nobody (specifically the feeder investors) knew what was going on, nobody wanted to know what was going on……they were all suspicious but they never really asked questions or pushed the issue…why? Because they were all greedy and as long as the money kept coming in they weren’t going to rock the boat. And Madoff knew this.

[@gemmastaines5706]

Its always the same when these big powerhouse players get brought down, the "investigators" don't really want to find out what's happening, it will rock the boat far too much and unearth too much disgraceful behaviour by too many people.

[@Sills71]

Clients that receive the returns that Madoff provided and did not question those returns, got what they deserved.

[@vandrive5687]

In “people pleaser” Madoff’s extraordinary effort to never let his investors down ultimately led to letting everyone of them down quite dramatically. A real irony tragedy.

[@MrBellsa61]

"I blame the government, I really do" - victim who probably voted for people who's deregulation efforts allowed this to happen

[@MeneTekelUpharsin]

Exactly. They were probably many who voted for less regulated market then after the sandal they blame the government.

[@satan899]

You mean voted for one of two corrupted parties that both let this go? Dosent matter who was voted, none of them would of done anything

[@kurniawandwiseptian]

Another old boomer playing victims

[@4evrnick]

Actually, the majority of his clients were Democrats. You don’t know what you’re talking about.

[@winstonmonster]

And then corrupt officials let greed take over. No regulation let every man figure it out for themselves

[@VickieVale367]

That Michael Bienese promo was hilarious 😂 he’s a real renaissance man.

[@somnuswaltz5586]

I thought you was wanting to be shaved... down there.

[@1jesus2music3duke]

I want an entire documentary just about Bienes. The man, the myth, the legend.

[@Janice360]

LOL Right?! 😂

[@killmoreturtles]

40% Bernie's fault. 35% the government's fault, 25% the fault of the people that bought the funds and thought they were just lucky.

[@MacNCheese68]

Smart people getting outsmarted by not only others but ultimately themselves because they couldn’t see the Ponzi scheme lie and chose to put their money with him is just pure poetry. Life always finds a way to make things right. These people deserved what happened to them because they invested with Madoff due to disgusting greed.

[@rickmassey1272]

❤EXACTLY

[@brandonmcgrew4367]

Then don’t ask for pity when catastrophe hits your life, and you’re out on the street. Guarantee if you’d ever struggled in your life, you wouldn’t be saying this.

[@emmaevans7011]

I read that Madoff said that he was happy in jail because the life he had created on the outside was so horribly stressful that he walked around always frightened.

[@RoadTripzz14]

It’s a self serving comment typical of a sociopath. Read the medical report released by the Butner federal prison where Madoff was incarcerated. He was miserable.

[@LaLagunz187]

I’m obsessed with that old New Yorker Bienes 😂 he’s hilarious

[@goldsbym]

How to spot a liar.... almost everyone in this documentary.

[@thomasrodriguez-fh9yn]

The bottom line is the greed for money allowed everyone to turn a cheek to the obvious scam. Positive returns, every month, even in a down market…cmon now. The SEC should be ashamed and defunded for their lack of diligence. They should face jail time. Thank you PBS for an amazing video.

[@BertSimsen]

That Bienes guy should have been on The Sopranos, part of Tony's crew teaching lessons on morality.

[@123Dunebuggy]

He madeoff with the money ...

[@frankdenardo8684]

Good pun

[@tonnytuff7824]

Nice one

[@queens6583]

Bienes is lying through his teeth and doing a bad job of it!!!

[@stephen8176]

He's a horrible actor, isn't he? It's obvious he's lying through his teeth.

[@TampaDave]

They aren't really HiS teeth. He stole them from a 15-year-old girl.

[@beverlyledbetter4906]

I don't believe that Madoff's wife was innocent either, but she got off!

[@ianbideshi8021]

I find it hard to believe that this man was working alone

[@yankees29]

I mean it’s really hard to believe his kids ran a large trading operation 2 floors away and had no idea at all he was in over his eyeballs. They definitely had to have known things were not right.😂

[@jonathanbrotto7278]

When it is too good to be true. It is.

[@theduchessofkitty4107]

No one had a clue... until Markopoulos, the Man Who Knew the Math, figured out the scheme in just four hours. Wow!

[@codytylek7836]

Math never lies.

[@casacara]

I’d say they definitely already knew, or didn’t want to know. It just took someone who wasn’t profiting from it to say something.

[@theduchessofkitty4107]

@@codytylek7836 yep.

[@tiffanytowns1985]

A couple of other people saw it clearly enough to write to the SEC. So it still begs the question why they didn't do the easiest thing that would have taken 30 seconds to do and would have caught him.

[@NxDoyle]

It's tempting to call everybody here greedy, a temptation many commenters have given in to. But time and testimonials ensured that Madoff was not just a high earner but a _safe_ investment. Yes, when most people fall prey to nonsensical schemes, greed is the driver. No doubt, greed drove a lot of decisions here. But not all. It wasn't just Madoff's unconscionable behavior. It was a system that allowed him -- and to this day allows others -- to operate in an unconscionable way.

[@jonking5318]

Madoff, the willingly blind investors and the government are all responsible for this. There has been nothing done to prevent this I agree.

[@damienbaken3564]

Amen!

[@aztronomy7457]

Bienes face is literally the “lie face” on suspects from LA Noire lol. “Press X to doubt”.