It was basically too big to be believed. If someone came to you and said "hey, this well known guy on Wallstreet has a completely fake Mutual Fund to the tune of $60B". You'd roll you eyes. On the surface, that grandiose statement isn't believable. It would be more work, and harder, to orchestrate a fake fund than to just do a real one. Little did anyone realize, that's exactly what was happening. It was preposterous
I'd like to add that the family who owned the office building I worked at in Northridge, CA had ALL of their money with Bernie's fund. A father/ daughter team. The father died of heart attack that I don't think was related to finding out all of your money is gone and isn't coming back but it was after that news broke. The daughter could not afford hospital bills from a previous illness and stopped going altogether. She passed away from her illness. Justice was not served in this case.
There's probably millions on stories like this. It's one of those things that will never get justice. Even with all that happened to Bernie's family. Sure he's suffered but he'll never suffer enough in many people's eyes. He's caused a lot of deaths around the world. The only thing to he learnt from this is to learn from it's history. A bit like Hilter. I guess.
So tragic. I feel like that’s part of the reason why we don’t prosecute economic crimes as harshly, because you don’t see the real world impact of their crimes until further down the line. Shit like this deserves a greater punishment, based off your story, he basically killed two people. Sure there’s many more stories like that
@Scotty is a MORON you must watch Rick and Morty, you are so smart! The guy was just saying that so that coffeezilla could see his followers appreciate it which will cause more black and white vids in the future. My advice for you is don't try to make someone feel dumb when you are dumber than them
@Scotty is a MORON You are slower than I thought! You need to look up what sarcasm is so you don't make a fool out of yourself next time:) Regarding shitty guitar, let's see you play and then we'll talk
@@_thechosen People on wallstreet like to continue making money instead of making enemies. When your that high up in the hierarchy, you aint clean. like the others around in the same position.
Thanks for sharing your comments make a note to my trusted trader , Rebecca in wats app to help you make profit in bitcoin + 1 7 0 1 5 8 7 2 3 1 3 she's strategies are top notch 🇫🇯
My team was recently Audited by an Industry Regulator who looked really confused and asked a few odd questions during the Audit. Turns out that they had the wrong method documents they were referring to and instead of admitting that they bluffed they're way through the whole thing
@@AbnormalObs was your team a giant mutli-billion dollar enterprise? Was the auditor the SEC? You CANNOT in good faith claim that the SEC failling to catch this was "stupidity". Or "incompetence". Willfull ignorance at BEST.
I’m six months late, but I must give props to this amazing dad joke! Corny, yet funny and classy. Will definitely age well lol. Good pun brotha. Imma use this one
not everyone watches coffeezilla for the same reason. There are people who fall for scams but they skeptical about fake guru A they see coffeezilla expose fake guru A but while watching the video they see an ad for fake guru B and because coffeezilla didn't do a video about fake guru B they join B. I see comments like it all the time of coffeezilla videos. "Is this guru legit?"
@@nogalsmetalica I think Coffeezilla addressed this is one of his videos. He said there's no need to ask if a guru is legit if they contain the same characteristics as previous frauds avoid them.
It’s all google adsense, nothing to do with coffeezilla or the scammers at all. The scammers simply pick a number of key words and target demographics, and I guess coffeezilla’s demographics just so happen to overlap.
Zilla, I loved the video but you should have included his niece, Shana Madoff. She worked in Bernie's firm. Her "diversionary tactics" have been well documented. During the midst of an SEC audit of the Madoff that was eventually called off, she began dating one of the SEC investigators, the one leading the inquiry if I remember correctly. They eventually married, and it is speculated, and is most likely correct, that part of their reason for marrying is so they would not have to testify against each other. If has been alleged that the SEC employee she married is not the first she was romantically involved with. Her M.O. was to turn on the charm and shake dat ass as soon as the SEC walked in the door. If you have any interest in checking up on any of that, then read any of the books that cover the scandal. I have read several and they all have extensive material on Shana Madoff.
That's some intern genius right there. That's probably some kid out of high school who had to fake a report or a source so well, he thought about everything.
I never understood his end game, why didn't he just run away with a bunch of cash when he knew that the whole thing was going to collapse at some point...
His game was to keep stealing, if he wanted to run off with an infinite supply of money he could have done it after the first few billion dollars but he did it just because he could. He stole $65 billion, if he had an actual endgame he would have done it way before he stole that much.
Justice was partially served. It almost never is fully done. People lost life savings and they are not getting all their money back. Until everyone is repaid every penny they 'invested' and some (call it interest) justice for them doesn't really matter because him being in prison doesn't help their situation.
I worked at MCI when this was going down. I got out once they took away the free coffee in our buildings. That's when you knew something wasn't right. And I don't even drink coffee.
The wizard of lies said it best "People are greedy, sell them a dream and they'll eat their young for it." He targeted people with money who wanted more money.
Yeah, all sorts of theories and such, but what is the most like explanation is simply corruption. And justice wasn't served in the end. He was an old man when he finally went to prison and people lost a shitload of money. Lives were ruined.
I know a family who lost everything because of this guy. The Justice Department asked them if they would support letting Bernie out on "compassionate release" because he was about to die of cancer, and they said "Hell no. Keep him locked up"
yeah madoff's operation was sloppy but it still takes a genius to operate the largest ponzi scheme in history. the scary part is if he covered his tracks better, he could still be at it today
Eh, i don't think so, the 2008 financial crisis and the panic of everyone wanting to withdraw quickly would have raised many red flags if not give the game away entirely, regardless of whether or not he was being scrutinized by the sec or investigators
this wasn't an act of genius. It's a really bog standard ponzi that nearly failled a bunch of times before cash injections after Madoff begged high investors. And he wasn't found out because of covering his tracks. He was found out because of the crash. People had already uncovered his entire mo, it's not covering your tracks when people find the tracks, but others refuse to follow them
No I’d argue madoff was right. Simply because he said “no violation can go undetectable”. He was right. They won’t always get caught, nor prosecuted but it will always be detected. I’d even argue your channel is a proof he was right. You call out scams you or others who talk to you detect. And I’m glad it does exist. It’s such a necessary good
You are doing the Lord's work with you highlighting these things. Unfortunately the truth is rarely ever entertaining enough or sensational enough to generate mass interest. I subscribed. Keep on doing what you are doing
Hey @coffeezilla please interview Tan Liu ; he use to work at a hedge fund and has a masters in economics and is on UA-cam and discusses the dark side of the stock market. He’s also the author of ponzi factor (Guys thumbs this up so he sees it will be a great episode )
this was a great video, i remember this era well, i had just started design school and had a classmate family lose a house. homie just be paying errbody off till the levy break or it dries up, seems like. he still had to play the part fully, that might just come with the territory. wolves travel in packs homie def had accomplices.
Bro I discovered you a couple weeks ago and subscribed, this video was very informative and well done. This tube needs more creators like you, keep doing your thing my man!
Lots of people wouldn't think a 1 percent return is unrealistic. Plus they wanted to invest with him and he took advantage of all the greedy people who wanted to invest
Thanks for sharing your comments make a note to my trusted trader , Rebecca in wats app to help you make profit in bitcoin + 1 7 0 1 5 8 7 2 3 1 3 she's strategies are top notch 🇫🇯
Little nugget from Europe: very recently, a bank in Austria (Commerzialbank Mattersburg) which had posted record returns since splitting off from another major bank in 1995 and had been *investigated several times* by regulators was also exposed to be a fraud, after like >20 years and multiple investigations. What's worse, quite a bit of the founders supposed transactions weren't even very sophisticated, he just had bogus loans with other banks on the books on which they supposedly paid ridiculous rates like 20% per year (if I remember correctly). During multiple investigations, nobody caught that. Mind boggling.
"Because once you realize the most well dressed, well adjusted, wealthiest people in the world can be psychopath and you don't even know!..." No, actually, that fits my theories very well.
I saw a documentary about the madoff fund...a businessman had 20+ million to invest right near the end..enough to peak bernies interest in a face to face meeting..all he said to BM was ,"how do you do it...get 8 to 9 % year in year out." Bernie wouldn't explain his method so they guy didnt invest. How can one person in a few minutes make a judgement that something doesnt make sense and the sec never worked it out until there wasn't any money left to pay out....some victims lost 50+ million.
Harry Markopolos figured it all out years before but no one would listen. Now Markopolos has put General Electric under scrutiny. We will see how that ends up
I don't disagree with you often Coffee but putting a freshly printed warm piece of paper in the refrigerator to cool it off then tossing it around to make it look warn is friggin brilliant!
Its stupid and is likely a fake story the SEC made up to make them sound incompetent instead of corrupt. Print a piece of paper. How long does it stay warm? 30 seconds? Take any of your tax papers out of storage, they are fucking pristine because they are the type of document that get printed and immediately stored. Printing the paper and using the elevator to get it up there literally as fast as humanely possible would've had the same result. Fake story to fool idiots.
So that means, dress well, look professional, talk about trust and honesty in public, make it look organized and respectable. Once you have done that you are ready to scam and run away with the money. Thats pretty cool.
very new to the world of investing. I love learning and these are a fantastic and great eye opener to a newcomer. thank you for everything you do. so far I've binge watching your videos back to early of last year. and yes I do look forward to your daily videos since I've learned a so much
One thing I find interesting is how the movie American Psycho portrays what you said. This wealthy upstanding guy is an absolute crazy man and people never know because they look at his appearance not his mind.
The other issue was that Bernie have money back early on in the scheme, so when people wanted to withdraw they could. It looked legit from the outside.
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I read that his separate business of market-making was actually a legitimate operation but the hedge fund investment business was a complete fraud for years.
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If there is one thing I have learned from Theranos, Bernie and the endless flood of fake gurus, it is that outward apperance of success means very little.
Enron was only worth about 70 Billion at their peak ... Tesla is worth close to 90 Billion . Tesla when it finally unwinds is gonna make Enron look like a pebble in a lake. Richest Man in the world has a company that has never and never will turn a profit.
Not 100% but I think Facebook, Twitter, Instagram and Uber are also not and will never be profitable. I think there's something else going on and when it's crashes, its gonna be real bad.
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This isn't incompetence it's corruption, when a regulatory body 'misses' obvious clues it's usually because they purposely avoid doing so.
Correct, he had connections in wall street, to the point of being on the short list to lead SEC...... he was to influent to be a suspect.
Some SEC officials even handed in job applications with Madoff after completing their "investigation"
Exactly. Made the right friends at the right golf courses, made the right "donations" to the right "causes".
It was basically too big to be believed.
If someone came to you and said "hey, this well known guy on Wallstreet has a completely fake Mutual Fund to the tune of $60B". You'd roll you eyes.
On the surface, that grandiose statement isn't believable. It would be more work, and harder, to orchestrate a fake fund than to just do a real one. Little did anyone realize, that's exactly what was happening. It was preposterous
And then Obama made it worse, by inviting some Wall Street guys, to run the SEC. Seriously?! That's a major conflict of interest right there.
If only the SEC had enough money to pay Coffezilla for his services...
They’d probably have to restructure the stimulus bill...
Bernie changed his iIdentity after
@Bradley Harrington I trust you more than Brian Rose.
@@_thechosen hahahaha 👌🏻
The FTC had confirmation bias. They believed Madoff was honest so they discounted any evidence to the contrary
I'd like to add that the family who owned the office building I worked at in Northridge, CA had ALL of their money with Bernie's fund. A father/ daughter team. The father died of heart attack that I don't think was related to finding out all of your money is gone and isn't coming back but it was after that news broke. The daughter could not afford hospital bills from a previous illness and stopped going altogether. She passed away from her illness. Justice was not served in this case.
There's probably millions on stories like this. It's one of those things that will never get justice. Even with all that happened to Bernie's family. Sure he's suffered but he'll never suffer enough in many people's eyes. He's caused a lot of deaths around the world. The only thing to he learnt from this is to learn from it's history. A bit like Hilter. I guess.
So tragic. I feel like that’s part of the reason why we don’t prosecute economic crimes as harshly, because you don’t see the real world impact of their crimes until further down the line. Shit like this deserves a greater punishment, based off your story, he basically killed two people. Sure there’s many more stories like that
ps: black and white thing makes u look more detectivey!
hope he fucking encoded it with the _gray_ pixel format to save space
@Scotty is a MORON you must watch Rick and Morty, you are so smart! The guy was just saying that so that coffeezilla could see his followers appreciate it which will cause more black and white vids in the future. My advice for you is don't try to make someone feel dumb when you are dumber than them
The jazz helps too 😁
@Scotty is a MORON You are slower than I thought! You need to look up what sarcasm is so you don't make a fool out of yourself next time:)
Regarding shitty guitar, let's see you play and then we'll talk
@@vladnikitin2566 why u both so angry?
Fact : Once you withdrew from Madoff's hedge fund you were never allowed back in.
Those were the lucky ones I guess.
When getting banned is a good thing
Well yeah...you took away profit!
@RichardServello Nope. Everyone who made a profit got 'clawed back'. No one 'madoff' but him LMAO
clever way to keep people from letting their doubts cause them to pull out
No wonder they sat down for 8 years and then sue Ripple, never underestimate the SEC's lack of capacity to do their jobs
@@benblack2437 Very nice! How much?
They said they never went after him because “people in glass houses dont throw rocks.”
Would you decode that please?
Wtfg?
Where this from
Same reason the republicans acquitted Trump twice.
@@_thechosen People on wallstreet like to continue making money instead of making enemies. When your that high up in the hierarchy, you aint clean. like the others around in the same position.
@@sebastianmosneagu2635 I think it was a documentary on how Bernie stayed out of trouble. Not to mention Bernie turned himself in, in the end.
What you refer to as incompetence in the US, we call it corruption in Eastern Europe.
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That’s a great point
"never attribute to malice that which is adequately explained by stupidity." - Hanlon's razor
My team was recently Audited by an Industry Regulator who looked really confused and asked a few odd questions during the Audit. Turns out that they had the wrong method documents they were referring to and instead of admitting that they bluffed they're way through the whole thing
@@AbnormalObs was your team a giant mutli-billion dollar enterprise? Was the auditor the SEC?
You CANNOT in good faith claim that the SEC failling to catch this was "stupidity". Or "incompetence". Willfull ignorance at BEST.
Bernie was right when he said "It's impossible for a violation to go undetected". It just depends who detects it and how it gets "handled".
Bernie paid relavent parties to change the goalpost of 'financial violation'
Why would anyone trust a man named Madoff? "Hey man, he 'Madoff' with your money"
"(...) and made you mad af."
Greed blinds
Here have your angry like. I hate that this made me laugh way too much.
Lool
I’m six months late, but I must give props to this amazing dad joke! Corny, yet funny and classy. Will definitely age well lol. Good pun brotha. Imma use this one
It’s crazy to think how many times people knew how sus Madoff and his “investment strategies” were, and no one did a thing about it.
They knew he was cheating
They just didn't think he was cheating them
Anyone else find it funny that Get Rich Quick scammers place their Ad’s on his videos. Not a smart business move on their part 🤣
not everyone watches coffeezilla for the same reason. There are people who fall for scams but they skeptical about fake guru A they see coffeezilla expose fake guru A but while watching the video they see an ad for fake guru B and because coffeezilla didn't do a video about fake guru B they join B. I see comments like it all the time of coffeezilla videos. "Is this guru legit?"
@@nogalsmetalica I think Coffeezilla addressed this is one of his videos. He said there's no need to ask if a guru is legit if they contain the same characteristics as previous frauds avoid them.
Click the ads and run up their expenses.. duh **EDIT** supports his channel in the process!
It’s all google adsense, nothing to do with coffeezilla or the scammers at all. The scammers simply pick a number of key words and target demographics, and I guess coffeezilla’s demographics just so happen to overlap.
If you know how Google Ads work, most of the ads are really assigned randomly.
The SEC was too busy going after Martha Stewart for avoiding $90,000 in losses from insider trading.
Zilla, I loved the video but you should have included his niece, Shana Madoff. She worked in Bernie's firm. Her "diversionary tactics" have been well documented. During the midst of an SEC audit of the Madoff that was eventually called off, she began dating one of the SEC investigators, the one leading the inquiry if I remember correctly. They eventually married, and it is speculated, and is most likely correct, that part of their reason for marrying is so they would not have to testify against each other. If has been alleged that the SEC employee she married is not the first she was romantically involved with. Her M.O. was to turn on the charm and shake dat ass as soon as the SEC walked in the door. If you have any interest in checking up on any of that, then read any of the books that cover the scandal. I have read several and they all have extensive material on Shana Madoff.
That's incredible
This is my favorite detective show. The music makes it so dramatic.
The music always sets the mood!
Not gonna lie the thought to make the paper cool and to toss it around was quite brilliant
It would have been way more brilliant if they already had the documents together before the SEC shows up.
@@justinburgan4184 Well really it would have been most brilliant to not cheat people out of their money for profit lol
That's some intern genius right there. That's probably some kid out of high school who had to fake a report or a source so well, he thought about everything.
@@JackDuffley 😂 Yeah but that take morals and not all of us have them.
It's one of those things that's so stupid it's actually genius.
Black and white effect made it more interesting
I never understood his end game, why didn't he just run away with a bunch of cash when he knew that the whole thing was going to collapse at some point...
Hubris
His game was to keep stealing, if he wanted to run off with an infinite supply of money he could have done it after the first few billion dollars but he did it just because he could. He stole $65 billion, if he had an actual endgame he would have done it way before he stole that much.
Sociopaths rarely have a set endgame. They move from place to place thinking of the current con.
Greed. It's never enough for some
The most important law of power is plan all the way to the end and don’t go past your Mark
"You are not really looking. You want to...be fooled." The Prestige
Where are Those People Who Will Defend this Guy's " Business "?
Where You At?
Now is Your Time to Shine!
Justice was partially served. It almost never is fully done. People lost life savings and they are not getting all their money back. Until everyone is repaid every penny they 'invested' and some (call it interest) justice for them doesn't really matter because him being in prison doesn't help their situation.
I worked at MCI when this was going down. I got out once they took away the free coffee in our buildings. That's when you knew something wasn't right. And I don't even drink coffee.
just found this channel recently and going back to watch older videos, his production value has always been crazy
The wizard of lies said it best "People are greedy, sell them a dream and they'll eat their young for it." He targeted people with money who wanted more money.
You've got GREAT audio steven. Well done. Perfect levels, eq, compression. A pleasure to watch.
Yeah, all sorts of theories and such, but what is the most like explanation is simply corruption. And justice wasn't served in the end. He was an old man when he finally went to prison and people lost a shitload of money. Lives were ruined.
I know a family who lost everything because of this guy. The Justice Department asked them if they would support letting Bernie out on "compassionate release" because he was about to die of cancer, and they said "Hell no. Keep him locked up"
"Don't join a MLM - Create one and you will be rich"
"Don't join a religion. Create one and you will be rich." - L. Ron Hubbard. Paraphrasing, but it's factually correct.
He was only prosecuted because he was ripping off rich people.
despite your growth, so many of your videos are underrated gems. the editing is so hilarious
yeah madoff's operation was sloppy but it still takes a genius to operate the largest ponzi scheme in history. the scary part is if he covered his tracks better, he could still be at it today
nah bro financial crisis
Eh, i don't think so, the 2008 financial crisis and the panic of everyone wanting to withdraw quickly would have raised many red flags if not give the game away entirely, regardless of whether or not he was being scrutinized by the sec or investigators
if you think a genius would start a ponzi scheme, you should read again the definition of a genius.
this wasn't an act of genius. It's a really bog standard ponzi that nearly failled a bunch of times before cash injections after Madoff begged high investors.
And he wasn't found out because of covering his tracks. He was found out because of the crash. People had already uncovered his entire mo, it's not covering your tracks when people find the tracks, but others refuse to follow them
I love the editing in this! those cut aways were so funny
No I’d argue madoff was right. Simply because he said “no violation can go undetectable”. He was right. They won’t always get caught, nor prosecuted but it will always be detected. I’d even argue your channel is a proof he was right. You call out scams you or others who talk to you detect. And I’m glad it does exist. It’s such a necessary good
Divine content as always, a good throwback to the good old 2013 era ;)
At what point do we stop calling it incompetence and start calling it complicity?
Here Southafrica there was a guy running a scheme similar to Benie's. He swindled people's pension, and he got away with a fine
madoff was right: it did get detected
it didn't get _prosecuted_
I dig the way you called em’ on the “absolute INCOMPETENCE!” at 2:43
Edit: change from 2:44 to 2:43
Sounds like the SEC were a bunch of chickens that thought they were chasing foxes, but in actual fact were just running around in circles
Throwback Thursday is my favourite out of all the seven days!
You are doing the Lord's work with you highlighting these things. Unfortunately the truth is rarely ever entertaining enough or sensational enough to generate mass interest.
I subscribed.
Keep on doing what you are doing
Hey @coffeezilla please interview Tan Liu ; he use to work at a hedge fund and has a masters in economics and is on UA-cam and discusses the dark side of the stock market. He’s also the author of ponzi factor (Guys thumbs this up so he sees it will be a great episode )
Bump
Loving these videos
this was really funny, loved how you narrated it
What if the people from the SEC where corrupted?
The background music fits so well!
Any chance the SEC incompetence was not an accident?
Every chance actually I don't think it was an accident at all. People in glass houses don't throw stones.
SEC knew EXACTLY what was going on.
SEC*
Sec bud
Lol for some reason i thought this video was about Bernie sanders I'm just realizing 2 minutes 30 seconds in I'm just really high
this was a great video, i remember this era well, i had just started design school and had a classmate family lose a house. homie just be paying errbody off till the levy break or it dries up, seems like. he still had to play the part fully, that might just come with the territory. wolves travel in packs homie def had accomplices.
I thought the default assumption about all of those people is that they are psychopathes...
Ah! But Coffeezilla what you didn't know is that the SEC is still incompetent to this very day
The free market regulates better than the government. That’s the lesson.
Bro I discovered you a couple weeks ago and subscribed, this video was very informative and well done. This tube needs more creators like you, keep doing your thing my man!
If it sounds too good then it too good to be real that’s how the world works never trust anyone with ur money
Lots of people wouldn't think a 1 percent return is unrealistic. Plus they wanted to invest with him and he took advantage of all the greedy people who wanted to invest
Giving monthly 1% is not too good, u can give in india for fixed deposit in bank u get 11% yearly
@@paradevparadev5371 11% yearly is not 1% monthly?
@@aviralsood8141 still its 0.91percent, 0.10 less
@@paradevparadev5371 Long term it can be a huge difference especially in compounded interest. Are you talking about simple interest?
Great video again Zilla 👏🏽 very interesting and informative as always!
Thanks for sharing your comments make a note to my trusted trader , Rebecca in wats app to help you make profit in bitcoin + 1 7 0 1 5 8 7 2 3 1 3 she's strategies are top notch 🇫🇯
Little nugget from Europe: very recently, a bank in Austria (Commerzialbank Mattersburg) which had posted record returns since splitting off from another major bank in 1995 and had been *investigated several times* by regulators was also exposed to be a fraud, after like >20 years and multiple investigations. What's worse, quite a bit of the founders supposed transactions weren't even very sophisticated, he just had bogus loans with other banks on the books on which they supposedly paid ridiculous rates like 20% per year (if I remember correctly). During multiple investigations, nobody caught that. Mind boggling.
This guy was the inspiration for all these fake gurus of today a great legacy
We literally talked about this in my ethics class today are you spying on me ?
Sam? Why are you here?
Hey Sam :)
he is a major topic, as he is in news as the biggest scammer lately. its a common topic
no, he's just your Sifu
@@dertythegrower it's a joke headass
Dude I learn a lot from your videos!
"Because once you realize the most well dressed, well adjusted, wealthiest people in the world can be psychopath and you don't even know!..."
No, actually, that fits my theories very well.
I saw a documentary about the madoff fund...a businessman had 20+ million to invest right near the end..enough to peak bernies interest in a face to face meeting..all he said to BM was ,"how do you do it...get 8 to 9 % year in year out."
Bernie wouldn't explain his method so they guy didnt invest.
How can one person in a few minutes make a judgement that something doesnt make sense and the sec never worked it out until there wasn't any money left to pay out....some victims lost 50+ million.
I've been waiting for a Bernie Madoff video from you.
Since most of Madoff's staff and family were in on the scam why didn't they go to jail too?
At least one of em did. Two of his sons also died which is cool. One cancer and one suicide iirc
I would’ve assumed he bribed anybody who suspected him
Harry Markopolos figured it all out years before but no one would listen.
Now Markopolos has put General Electric under scrutiny. We will see how that ends up
Maybe I should’ve watched the whole video before commenting.
People underestimate how credulous, lazy, and incompetent many figures charged with oversight can be.
Filled in my gaps, thanks!
I don't disagree with you often Coffee but putting a freshly printed warm piece of paper in the refrigerator to cool it off then tossing it around to make it look warn is friggin brilliant!
Its stupid and is likely a fake story the SEC made up to make them sound incompetent instead of corrupt.
Print a piece of paper. How long does it stay warm? 30 seconds?
Take any of your tax papers out of storage, they are fucking pristine because they are the type of document that get printed and immediately stored.
Printing the paper and using the elevator to get it up there literally as fast as humanely possible would've had the same result.
Fake story to fool idiots.
Meanwhile the SEC is tripping over themselves to derail crypto trading. These guys are inept at every level...
Keep up the good work and stay awesome, Coffeezilla! Everyone of you as well!
Have a happier new year ^^
The NASDAQ was very dirty when he was in charge. The market makers kept artificial spreads on trades.
Thieves can wear suits too.
So essentially "The bigger the lie, the easier it is to believe."
bernie had the SEC in his pocket
You should review or dive into explaining large or “popular” pyramid schemes.
Finally some good detective work
So that means, dress well, look professional, talk about trust and honesty in public, make it look organized and respectable. Once you have done that you are ready to scam and run away with the money. Thats pretty cool.
very new to the world of investing.
I love learning and these are a fantastic and great eye opener to a newcomer. thank you for everything you do. so far I've binge watching your videos back to early of last year. and yes I do look forward to your daily videos since I've learned a so much
Madoff's existence is problematic not because of the losses, but because of the embarassment and exposure of total incompetence of tthe SEC.
Love this, definitely continue this format
Exactly. Bluffs don’t work if you call them!
That beard has grown on you beautifully my dude.
SEC : Our own brother Bernie can't be a crook. He should know better.
One thing I find interesting is how the movie American Psycho portrays what you said. This wealthy upstanding guy is an absolute crazy man and people never know because they look at his appearance not his mind.
You guys should check out the Movie "The Wizard Of Lies" . It breaks down the Bernie Madoff Ponzi scheme. GREAT/INTERESTING Movie
very good film!
It’s almost as if consumers are better at regulating markets than government.
The other issue was that Bernie have money back early on in the scheme, so when people wanted to withdraw they could. It looked legit from the outside.
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Either SEC was incompetent or they were lobbied(bought off)
Both lol
I read that his separate business of market-making was actually a legitimate operation but the hedge fund investment business was a complete fraud for years.
They knew what was going on...some powerful people had his back. Look into who lent him $...it's all about tribal solidarity.
Exactly
Nice touch - the sweating guy from Shark Tank LOL
SEC really swallowed the "too big to fail" propaganda
It doesn’t take luck or skill to evade the authorities if you have the right connections.
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If there is one thing I have learned from Theranos, Bernie and the endless flood of fake gurus, it is that outward apperance of success means very little.
Hey man just found your channel! Love the videos! Glad to have found ya Coffeezilla!
Enron was only worth about 70 Billion at their peak ... Tesla is worth close to 90 Billion . Tesla when it finally unwinds is gonna make Enron look like a pebble in a lake. Richest Man in the world has a company that has never and never will turn a profit.
Not 100% but I think Facebook, Twitter, Instagram and Uber are also not and will never be profitable. I think there's something else going on and when it's crashes, its gonna be real bad.
These daily uploads are too good
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I have to believe the SEC was being paid off. And I hate how optimistic that is