'There’s more than enough censure to go around in 'Madoff: The Monster of Wall Street,' although all fingers eventually point squarely at Madoff, who even in a 2016 video deposition shows no remorse for the wreckage he caused,' writes nschager
reporter Andrew Ross Sorkin, as well as FBI agents, Madoff employees, and some of the myriad victims of his scam,is an exhaustive recap of one of America’s most heinous frauds. Madoff was busted on Dec. 11, 2008, for operating the largest Ponzi scheme in history, which totaled $64 billion at the time of his arrest—except that, as with everything else about his ruse, that number was a lie invented by Madoff.
The reason Madoff kept finding investors was simple: he promised no risks and impossibly lucrative rewards, and he fulfilled that pledge—or so it seemed. In truth, he was running a Ponzi scheme in which he took from Peter to pay Paul, and it grew at such an enormous rate that, while running his legal business on the 19th floor of Manhattan’s Lipstick Building, he had to set up his illicit con on the 17th floor, which was overseen by loyal Frank DiPascali.
Berlinger spends considerable time damning the larger system for enabling Madoff, with a particular focus on the SEC’s repeated, inept examinations of his conduct—which, ultimately, further allowed him to project himself as an upright bigwig deserving of investors’ trust. There’s more than enough censure to go around in, although all fingers eventually point squarely at Madoff, who even in a 2016 video deposition shows no remorse for the wreckage he caused.
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