New Netflix docuseries details the crimes of the man who crafted a $64bn Ponzi scheme and those who protected him
, actor Kevin Bacon, baseball player Sandy Koufax and businessman Fred Wilpon as well as retired prison officers, teachers and dentists. Many were Jewish; many lived in Florida.
“One of the reasons the Ponzi continued and got ramped up on steroids is his legitimate business was starting to fail and so he used that Ponzi money to shore up his legitimate business because he wanted to be Mr Wall Street. Ego and a sense of belonging to the big club of rich fellas that run the world. It was less about greed and more about status and position.”
, when banks that had made reckless bets on mortgage-backed securities collapsed and investors scrambled to pull money out of the stock market.Joe Berlinger, director “None of that brought Bernie down. What brought Bernie down was a black swan event, the financial crisis, and I believe if the markets had just gone in their normal cycles, he might still be doing it today.”
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