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Ripped Off: Madoff and the Scamming of America


None July 17th, 2009

madoffscreaming

2009

Some argue that much of this country's economic woes are due in part to one man: disgraced Wall Street  "investor" Bernie Madoff, who helped put the "ack!" in NASDAQ. After watching the History Channel documentary "Ripped Off: Madoff and the Scamming of America," I'm prepared to believe it.

Oh, he's not singlehandedly responsible for it, but his motive is: greed. Despite what Gordon Gecko said, greed is not good. We feel it now. These are not the 1980s.

I'd never even heard of Madoff until last December, when he was exposed for running a Ponzi scheme with his investors "” essentially not truly investing his clients' money, but robbing Peter to pay Paul "” to the tune of $65 billion. Yes, with a "B."

In a manner that bests any of the many newspaper articles I read on Madoff, this doc lays out his crimes and illustrates how we all hurt from them, even if we weren't his direct clients. It made me angry. It made me depressed.

And that's why I chose to skip the disc's bonus documentary, "Crash: The Next Great Depression?" Because I need to be able to sleep.

"”Rod Lott

 
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