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How did a New York financier named Bernie Madoff manage to swindle billions from many of the richest and most powerful people on Wall Street?
We are talking about a story that has all the ingredients of a novel: luxury, money, wealth, rags-to-riches, a lot of secret dealings and a sudden fall into the abyss when the house of cards collapsed with the outbreak of the Financial Crisis of 2008. This is the story of the Madoff Empire, the biggest pyramid scheme in history.
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Never mind, question answered.
Are you saying this caused the financial crisis????
Interesting ty
The Federal Reserve is a bigger Ponzi scheme.
In prison, Madoff offered to manage the guards' retirement funds. They politely declined.
video narrator could have at a minimum learned how Madoff’s name is pronounced, smh 🤦
Not even close. The US's Social Security system is the world's largest Ponzi Scheme (which is what he actually ran, not a pyramid scheme) and has been since its implementation in the 1930's. Economists & actuaries have been calling it out since the very beginning, but no one wants to listen. We're approaching the collapse point now where it will no longer be able to pay the promised benefits.
Firms involved in the bond market make madoff look like he got caught J walking.
The question I ask is why? if he was successful whats the point? people who dont know how to make money in the stock market do this. He had the respect and the knowledge. He didnt need to make a name for himself. Very strange
Losing faith in VP's research.
How can they fail to mention that Madoff's daughter the chief compliance officer was married to the director of compliance at the SEC? The SEC were literally in bed with Madoff Securities LLC! SEC 'investigated' Madoff 8 times and found nothing.
The SEC is corrupt to the core (would be a good video), has no real interest in protecting investors, operates like a Mafia protection racket shaking down companies under the guise of investor protection.
The biggest pyramid scheme in history is Fed.
Madoff isn’t the biggest Ponzi scheme in history Afghanistan is.
So, when exactly are you guys going to create a Biden animated opener? Or are you too biased in his favor to acknowledge his own screw ups?
It makes me wonder if dogecoins fall into Pyramid schemes or ponzi schemes?
Shit he was a God mos
The biggest pyramid scheme in history is the social welfare state. They won't be able to continue given current economic and demographic trends.
What a guy
so is it ponzi or is it pyramid?
Albania 1997
Value school stories are boring 😴.
M
Perfect! Thanks for your work guys! 🙂
Never steal from the politicians and the rich. they dont like competitions. Steal from the poors…its easier and you dont get punished when caught!
Invest in great memories.
Years on and I still fail to understand why he did jail time. His offerings advertised what he was up to – how many discerning people … you know the average investor … handed over their cash? Well, it's America. They ban the best cell phone in the world and promote the local one knowing full well that it is way ahead in the collection of personal data and chat!
Has anyone heard of Cash FX?
Obviously he was paying of people at those regulatory boards. How else did he run through all that money.
Madoff ran a Ponzi scheme, not a traditional Pyramid scheme. There is a difference.
Puzzling as to why he did it. He was already wealthy and well respected. We all know ponzi schemes eventually collapse.
You rip off hard working Americans and kick them out of their homes, you get a slap on the wrist. You rip off those who rip off regular Americans, you die in jail
you all know that the only reason he had basically a death sentence (150 years) was because he stole some of that money from the top rich…
Inaccurate Title:
The Lebanese Banking System collapse is 'The Biggest Pyramid/Ponzi Scheme in History'
This video is wrong FDR is the guy who made the biggest ponzi scheme in history called social security. You pay it forward for the previous retired folks and rely on the coming generations to pay yours when you retire but as of recent they're already saying social security is drying up and be empty probably around 15 years or so 🤷♂️
Covid 19- certificate of vaccination identification 19= a.i
the world economic forum- "you'll own nothing and be happy"
Franklin D Roosevelt- "in politics nothing happens by accident. If it happens, you can bet it was planned that way."
IMAGINE A VACCINE SO SAFE YOU HAVE TO BE THREATENED TO TAKE IT FOR A VIRUS SO DEADLY YOU HAVE TO BE TESTED TO KNOW YOU HAVE IT.
IMAGINE A LOCKDOWN SO LONG YOU LOSE YOU SAVINGS, JOB, AND HOME.
I was never really surprised.
Many years ago, I ran a business taking 'hockey photos', which required carrying a LOT of heavy equipment into hockey arenas. To make life easier, I needed to park my car close to the buildings … but often the parking lots were full. I could not park in the handicap zones or the fire lanes, because this would have instantly resulted in costly fines. So … I got in the habit of driving my car right up on the grass, right next to the entrance. And I never had a problem. I reasoned as follows:
If you break the rules a 'little bit', people will HATE you … and you'll get nailed every time. But if you 'REALLY' break the rules 'A LOT', then people just assume that you know what you're doing, they think you're important … and they rarely ever question it.
Why should Wall Street be any different?
If a man steals $100 … he'll be in a LOT of trouble. But if he steals Billion$ … quite often, nothing happens at all. In this sense, we could almost imagine that Bernie was a victim and a scapegoat, who'd likely still be well respected, had 2008 not happened. Because if you think about it … he didn't cause the financial collapse and, unlike the economic chaos threatening whole countries which Wall Street caused, most of Bernie's victims were greedy rich people. The VAST majority of the REAL fraud was knowingly perpetrated, in plain sight, by big investment banks and Wall Street professionals. But how many of these criminals went to jail? Seriously? As I recall, they mostly gave themselves big bonuses … courtesy of the tax paying public … and they're doing it still.
How funny is it that the AD I got was the "How you can make £200 a day from your phone through a strategy I created" Ad before this video.
investing in crypto now is the only big chance of making money
up
50 fps?
The biggest pyramid scheme in history is the banking cartel.
I'm pretty sure Tether a "Crypto stablecoin" is the biggest ponzi/money counterfeit/laundering operation in human history at the moment.
The only difference is that this one is still running, and already bigger than Madoff's scheme, especially when it explodes as it will cause the great crypto reset.