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Bernie Madoff created the largest Ponzi scheme in the history. Who was this person and how did he do it?
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You said that people generally root for thieves, but not for finical scammers, but I honestly root for the finical scammers because they think of intelligent and complex plans to take money, and often find loopholes in the law, while ordinary thieves just brake into places and take.
It didn’t really end well for him. His oldest son committed suicide shortly after Madeoff was arrested. His 2nd son publicly ended his relationship with his father and later died of cancer at a young age. What he did was shameful and he will die in prison. We live in a society that praise thieves if they can get away with large amounts of money. The social media and entertainment industry should not spread this misguided message.
Fun Fact: Bernie Madoff accused the American Government and the world economy for doing the same thing.
If you really look at the monetary system and most government programs, it's pretty much ran like a ponzi scheme. It's going to come crashing down sooner or later.
Even though we can all agree what he did was wrong we have to give him some slack because he did manage to get away with this for quite some time plus he was able to get thousands of people to get in on his little money game but it was still wrong of him to do that
Dude, you desperately need to get your animations checked/approved before posting videos... from 1:40-1:53, the animation shows "Bernie's Dad" oddly groping his son's inner thigh, while young Bernie seems to be rubbing his crotch area. Way too weird, and way too distracting if you are actually trying to make a point.
ХОРОШО I don’t think you understand the gravity of what he did. He stole EVERYTHING people had. People killed themselves because they went from worth tens of millions to NOTHING. Charities lost their money, he stole from family, he destroyed THOUSANDS of retirements, forcing people who worked hard to retire to have to work into old age
His sons turned him in and one of them subsequently killed himself, why is this video trying to paint the picture that this man is doing just fine living out his life in prison? He must have one of the darkest outlooks on life imaginable, he had everything is life and it was all built on fraud.
When i see the title i said that clearly was some guy with romanian origin implicated in this theft. (I'm Romanian)
I seen the video and i was true. I laughed 5 minutes in continue.
*Edit: For who didn't know how romanians are, i will say some key words: intelligent, fast, strategic and creative.
Bullshit. Madoff is the only one that has been caught. The entire banking system is a ponzi scheme called Fractional Reserves. It is based on the premise that not everyone will want their money at the same time. They also have successfully paid off enough politicians to make carrying large amounts of cash risky. Cops can steal your money unless you can prove how you got it. So this is to discourage carrying large amounts of cash.
Just look up the videos on "How Money Is Created" and so on. In a nutshell a bank can say it has X amount of assets and really only be holding about one hundredth of that.
Gold and Silver manipulators buy and sell silver without anyone every seeing an ounce of either. There are currently more contracts for silver and gold than actual silver and gold that has been mind.
Madoff is nothing compared to the Trillions of mythical money floating around out there.
he just doing what "conventional bank" are doing. if all clients rush to the bank to withdraw their money savings, that bank would be unable to process all clients request at once because the money is no longer there (lending to other clients, investment, etc).
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