Madoff: The Monster of Wall Street 

A four-part Netflix docuseries

Released Jan. 4, 2023

Directed by Joe Berlinger

Starring Joseph Scotto and Ginger O’Toole

According to some financial historians, Bernie Madoff committed the biggest investment fraud in US history, cheating tens of thousands of investors out of nearly $65 billion. This series details the Wall Street billionaire’s rise to power, fraudulent investing tactics, and eventual downfall.

A stockbroker, adviser, former NASDAQ chairman, and securities company founder, Madoff helped countless clients grow their funds. But it was all a lie. As expert trial witness Bruce Debinsky says in the series, “Madoff never did any investing for his investment advisory business. It involved simply taking people’s money, telling them he was going to invest their money, and he never did.”

After his 2008 arrest, Madoff left many victims in his wake, several of whom died by suicide or suspected suicide in the aftermath of devastating financial collapse. Sentenced to 150 years in prison for 11 felony charges, he died in 2021 from natural causes. (Source: Deep Dive)

What I Liked About It 

Through archive footage, including a prison deposition given by Madoff himself during his victims’ lawsuit, interviews with Madoff employees and financial reporters, and dramatic reenactments, the series provides a lot of insight into…

* How Madoff pulled off his multi-decade swindle.

* The surprising range of people and companies that fell for it.

* The other characters you never heard about that were complicit.

* Why you should never, ever put all your eggs in one basket.

Critical Response 

The Monster of Wall Street has received mostly favorable reviews from critics. A few examples:

* “Among Mr. Berlinger’s accomplishments in The Monster of Wall Street is not making the Madoff story remotely romantic, or even a parable, while at the same time putting blood in its veins.” (John Anderson, Wall Street Journal)

* “Joe Berlinger’s pacy four-parter treats the jaw-dropping story as a financial thriller, which makes sense.” (Chitra Ramaswamy, Guardian)

* “The series is at its most compelling when it places Madoff’s monstrousness within the context of the systemic self-interest and greed that allowed him to flourish.” (Dan Einav, Financial Times)

You can watch the trailer here.