Currently watching the Bernie Madoff documentary on Netflix.
I’m on the second episode, and, so far, I like the series.
It is well made, if a bit slow in the storytelling. Great video and camera footage, does a good job in complementing the narration. They’ve also included a lot of footage of Madoff’s testimony during his deposition. Astounding stuff.
Ridiculous how easy it was for Madoff to get away for many years with such a massive Ponzi scheme.
And it appears that lessons have not yet been learnt. Recent happenings at Theranos and FTX clearly prove that point. One wonders how (over and over again) it is possible for people to commit fraud on such a large scale, and go undetected for such a long time. And we can be sure that there are more cases, yet to come to light.
So what does this say about our regulatory agencies, about the robustness of our financial systems, about our willingness to suspend disbelief when something looks too good to be true?
So much damage caused by the greed of fraudsters. Sympathies for all who have suffered from this.