AirTalk for May 4, 2011

Understanding Bernie Madoff and his crimes

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Timothy A. Clary/AFP/Getty Images

Bernard L. Madoff leaves US Federal Court January 14, 2009 after a hearing regarding his bail in New York.

How did Bernie Madoff pull off the biggest Ponzi scheme in history and how does he feel about it now? In her new book, “The Wizard of Crimes,” New York Times senior financial writer Diana Henriques digs into these questions, revealing the man and motives behind these crimes. Drawing on in-person interviews with Madoff in prison and over a hundred of interviews with people related to the crimes, Henriques reveals who Bernie Madoff really is, how he started his first money borrowing cover-up scheme and how that scheme grew into the full blown scandal. Madoff was one of Wall Street’s most successful and respected traders. How did he go from trusted New York financier to swindling his relatives, friends and investors out of $65 billion through a fraud that lasted for decades?

Guest:

Diana Henriques, author of The Wizard of Lies: Bernie Madoff and the Death of Trust, The White Sharks of Wall Street and Fidelity’s World. She is a senior financial writer for The New York Times.


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