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1
00:00:01,332 --> 00:00:03,002
You want to know
how to get people
2
00:00:03,003 --> 00:00:04,973
to trust you with their money?
3
00:00:04,965 --> 00:00:07,335
I'll tell you right now.
4
00:00:07,338 --> 00:00:09,928
You present it
as an exclusive thing.
5
00:00:09,930 --> 00:00:12,010
Look, what can I tell you?
6
00:00:12,012 --> 00:00:13,392
It's a closed fund.
7
00:00:13,394 --> 00:00:16,194
An elite club
for the chosen few.
8
00:00:16,187 --> 00:00:18,187
It's not a question
of credentials.
9
00:00:18,189 --> 00:00:19,769
Right now,
it's a closed fund.
10
00:00:19,770 --> 00:00:21,600
Of course,
that's just the hook.
11
00:00:21,602 --> 00:00:24,152
Nothing on earth makes people
want something more
12
00:00:24,145 --> 00:00:25,645
than telling them
they can't have it.
13
00:00:25,646 --> 00:00:27,026
You play hard to get.
14
00:00:27,027 --> 00:00:28,697
You make them sweat.
15
00:00:28,699 --> 00:00:29,699
And then...
16
00:00:29,700 --> 00:00:31,110
I'm gonna make
an exception.
17
00:00:31,112 --> 00:00:33,362
And once they're in,
you make them feel safe.
18
00:00:33,364 --> 00:00:35,374
You give them
consistent returns,
19
00:00:35,366 --> 00:00:39,076
around 10%, 12% a year,
year after year.
20
00:00:39,080 --> 00:00:40,660
If anybody asks you,
21
00:00:40,661 --> 00:00:43,001
"How do you do this?
What's your secret?"
22
00:00:43,003 --> 00:00:44,003
you say to them...
23
00:00:44,004 --> 00:00:46,014
That's proprietary.
24
00:00:46,006 --> 00:00:48,166
And if the questions
keep coming...
25
00:00:48,169 --> 00:00:51,009
You don't like the way I do it,
come up here,
26
00:00:51,011 --> 00:00:52,801
I'll write you a check
for all of it,
27
00:00:52,803 --> 00:00:54,013
and you're out of the fund.
28
00:00:54,014 --> 00:00:55,644
Now, the truth is, of course,
29
00:00:55,636 --> 00:00:57,516
that's the one thing
you can't afford to have --
30
00:00:57,518 --> 00:00:58,888
money going out.
31
00:00:58,889 --> 00:01:02,139
As long as deposits
outpace withdrawals,
32
00:01:02,143 --> 00:01:03,853
you can live like a king.
33
00:01:03,854 --> 00:01:06,074
It's a simple business plan.
34
00:01:06,066 --> 00:01:10,236
People give me their money, and
I make them richer than God.
35
00:01:10,241 --> 00:01:14,461
You might say I'm a magician.
36
00:01:14,455 --> 00:01:16,615
And as they say,
37
00:01:16,617 --> 00:01:21,037
a good magician
never reveals his secrets.
38
00:01:22,373 --> 00:01:24,383
WOMAN: Bank stocks
were pummeled again today.
39
00:01:24,375 --> 00:01:30,255
[ Keyboard clacking ]
40
00:01:30,261 --> 00:01:31,971
MAN #1: The president,
at a news conference,
41
00:01:31,972 --> 00:01:33,262
tried today to...
MAN #2:
Nightmare on Wall Street.
42
00:01:33,264 --> 00:01:35,934
♪♪
43
00:01:35,926 --> 00:01:37,926
[ Clanging ]
44
00:01:37,928 --> 00:01:40,978
♪♪
45
00:01:47,528 --> 00:01:50,818
♪♪
46
00:01:57,828 --> 00:01:59,328
There's Andrew.
47
00:01:59,330 --> 00:02:01,910
There.
She's down --
48
00:02:01,912 --> 00:02:03,662
finally.
49
00:02:03,664 --> 00:02:05,054
Let's keep
our fingers crossed
50
00:02:05,045 --> 00:02:06,335
that she sleeps
at least an hour.
51
00:02:06,337 --> 00:02:07,547
WOMAN: Okay.
52
00:02:07,548 --> 00:02:09,708
You know, that kid of yours
is incredible.
53
00:02:09,710 --> 00:02:12,010
You can tell she's, like,
out of this world.
54
00:02:12,012 --> 00:02:13,712
Uh-huh.
55
00:02:13,714 --> 00:02:15,974
So how long have you and Bernie
known each other?
56
00:02:15,966 --> 00:02:17,346
Oh, my gosh.
57
00:02:17,348 --> 00:02:19,058
I do not want to do the math,
but --
58
00:02:19,059 --> 00:02:20,889
A long time ago.
59
00:02:20,891 --> 00:02:24,101
Well, I was 13 years old when
I -- when I first saw Bernie.
60
00:02:24,104 --> 00:02:26,534
He was
a 16-year-old lifeguard.
61
00:02:26,527 --> 00:02:27,567
Lifeguard? [ Scoffs ]
62
00:02:27,568 --> 00:02:28,568
Mm.
Didn't have a belly then.
63
00:02:28,569 --> 00:02:31,189
Yeah.
[ Laughter ]
64
00:02:31,192 --> 00:02:33,572
Oh! And I knew it.
Now, now.
Give the guy a break.
65
00:02:33,574 --> 00:02:35,334
I knew right away
this was the love of my life --
66
00:02:35,326 --> 00:02:36,776
the man who would take care
of me forever.
67
00:02:36,777 --> 00:02:38,077
MAN: Yeah.
68
00:02:38,078 --> 00:02:40,078
Being 13, you know,
doesn't --
69
00:02:40,080 --> 00:02:42,160
It's not as weird
as it sounds now.
70
00:02:42,162 --> 00:02:43,912
Oh, it sounds weird.
It sounds a little perverted.
71
00:02:43,914 --> 00:02:45,964
Come on, now, Mark.
72
00:02:45,956 --> 00:02:48,456
Don't be silly.
I didn't even know what sex was.
73
00:02:48,459 --> 00:02:49,999
O-O-Okay.
74
00:02:50,000 --> 00:02:51,960
Well, listen to me.
Neither did your father.
75
00:02:51,962 --> 00:02:53,212
Took him
quite a long time to --
76
00:02:53,214 --> 00:02:54,394
Mom!
Oh, I don't want to know.
Too long.
77
00:02:54,385 --> 00:02:56,095
I don't want to know.
Eww.
78
00:02:56,096 --> 00:02:57,346
I'm gonna go
to the restroom.
79
00:02:57,348 --> 00:02:59,558
Yeah, yeah.
80
00:02:59,560 --> 00:03:01,260
Darling, have
some more fruit.
Mm.
81
00:03:01,262 --> 00:03:03,262
Give me your plate.
Who wants more fruit?
82
00:03:03,264 --> 00:03:04,524
She's nice.
83
00:03:04,515 --> 00:03:06,105
She's nice, huh, Shana?
84
00:03:06,106 --> 00:03:07,976
Yeah, but it's not serious,
right?
Thank you, thank you.
85
00:03:07,978 --> 00:03:09,518
Uh, it might be.
86
00:03:09,520 --> 00:03:10,980
It's a little early
to tell.
Oh. Oh, honey.
87
00:03:10,981 --> 00:03:13,021
A -- A wife?
I don't think so.
88
00:03:13,023 --> 00:03:14,193
No, you know what?
I like her, though.
89
00:03:14,194 --> 00:03:15,744
I really do.
I really like her.
90
00:03:15,736 --> 00:03:17,276
But she's no Susan.
91
00:03:17,278 --> 00:03:21,368
You didn't like Susan
until we were divorced.
92
00:03:21,372 --> 00:03:23,622
Well, that's because
I see less of her now.
93
00:03:23,624 --> 00:03:25,674
[ Laughter ]
Unbelievable.
94
00:03:25,666 --> 00:03:27,826
Actually,
I've always liked her.
Yeah, thanks.
95
00:03:27,828 --> 00:03:30,168
[ Cellphone rings ]
Aw. Pity.
96
00:03:30,170 --> 00:03:31,630
Pity.
Excuse me, Mark.
97
00:03:31,632 --> 00:03:32,962
MARK: Mm-hmm.
98
00:03:32,963 --> 00:03:35,223
Thank you. [ Scoffs ]
Yeah?
99
00:03:35,215 --> 00:03:37,545
FRANK: Bernie, it's Frank.
Got that thing I sent you?
100
00:03:37,548 --> 00:03:40,388
Yeah, the, uh --
the King Arthur Fund.
101
00:03:40,391 --> 00:03:42,511
Yeah. It might look like
some two-bit fund,
102
00:03:42,513 --> 00:03:44,223
but it's turning
into a major problem.
103
00:03:44,224 --> 00:03:45,614
What am I looking at?
104
00:03:45,606 --> 00:03:47,686
The King Arthur idiot put it
right there in writing --
105
00:03:47,688 --> 00:03:50,518
guaranteed
12% to 15% rate of return.
106
00:03:50,521 --> 00:03:52,351
Of course
it got the SEC's attention.
107
00:03:52,353 --> 00:03:53,563
Guaranteed 15%?
108
00:03:53,564 --> 00:03:55,574
That would certainly get
my attention.
109
00:03:55,566 --> 00:03:57,316
The problem is,
Avellino and Bienes
110
00:03:57,318 --> 00:03:59,568
allowed this guy to invest,
and now we're exposed.
111
00:03:59,570 --> 00:04:01,660
You connected with them yet?
112
00:04:01,662 --> 00:04:03,072
They haven't
gotten back to us yet.
113
00:04:03,073 --> 00:04:05,043
I've been trying
all weekend.
114
00:04:05,035 --> 00:04:06,365
You know how this works,
Bernie.
115
00:04:06,367 --> 00:04:08,707
The SEC ain't gonna stop
at Avellino and Bienes.
116
00:04:08,709 --> 00:04:10,369
They'll follow it
right up the line to us.
117
00:04:10,371 --> 00:04:13,211
I want them in my office
at 7:30 Monday morning.
118
00:04:13,213 --> 00:04:14,723
You understand
what I'm saying?
119
00:04:14,715 --> 00:04:15,795
Okay?
I hear you, Bernie.
120
00:04:15,796 --> 00:04:17,176
I'm not kidding.
121
00:04:17,177 --> 00:04:20,677
They've been living off the fat
of the land for 23 years.
122
00:04:20,681 --> 00:04:22,971
I'm not gonna have it
end up on my doorstep.
123
00:04:22,973 --> 00:04:24,813
Yeah, yeah, yeah.
I hear you, Bernie.
124
00:04:24,805 --> 00:04:26,555
I'm on it.
Okay.
125
00:04:26,557 --> 00:04:28,057
All right. Bye.
126
00:04:28,058 --> 00:04:29,478
[ Children laugh ]
127
00:04:29,480 --> 00:04:31,060
[ Laughs ]
128
00:04:33,193 --> 00:04:34,703
[ Glass clinking ]
RUTH: I couldn't imagine.
129
00:04:34,695 --> 00:04:36,895
Quiet down, please.
[ Laughter ]
130
00:04:36,897 --> 00:04:40,567
I would like
to propose a toast to my dad...
Mm.
131
00:04:40,571 --> 00:04:43,401
...for kicking prostate cancer
where it counts --
132
00:04:43,404 --> 00:04:45,124
in the butt.
133
00:04:45,115 --> 00:04:47,035
[ Laughter ]
Oh. That's my son.
134
00:04:47,037 --> 00:04:50,867
Of course, we're all so thrilled
that you've beaten this thing,
135
00:04:50,871 --> 00:04:53,461
but I'm pretty sure no one's
more relieved than Uncle Bernie,
136
00:04:53,464 --> 00:04:55,884
since we all know he has no idea
137
00:04:55,876 --> 00:04:58,546
how to turn on those computers
at the firm without your help.
138
00:04:58,549 --> 00:04:59,759
[ Laughter ]
Yeah,
that's actually true.
139
00:04:59,760 --> 00:05:00,760
That's a good point.
140
00:05:00,761 --> 00:05:02,761
First of all, first of all...
141
00:05:02,763 --> 00:05:04,523
Roger can't make it
from the East Side of Manhattan
142
00:05:04,515 --> 00:05:06,975
to the West Side without a map,
okay?
143
00:05:06,977 --> 00:05:08,977
Yeah, but, Dad, seriously --
BERNIE: Bern-- Hey.
144
00:05:08,979 --> 00:05:10,309
Bernie speaking.
145
00:05:10,310 --> 00:05:12,270
Peter...
146
00:05:12,272 --> 00:05:14,742
we're thrilled
that you're here.
147
00:05:14,735 --> 00:05:17,775
And we're thrilled
that you're staying.
148
00:05:17,778 --> 00:05:19,938
You're the best father
149
00:05:19,940 --> 00:05:23,070
that Roger and Shana
could possibly have.
150
00:05:23,073 --> 00:05:25,163
And you're the best brother,
151
00:05:25,155 --> 00:05:30,155
whose devotion and loyalty
is never questioned.
152
00:05:31,582 --> 00:05:32,622
-Cheers.
-Cheers.
153
00:05:32,623 --> 00:05:33,623
-Cheers.
-Cheers.
154
00:05:33,624 --> 00:05:34,844
Cheers.
-Cheers.
155
00:05:34,835 --> 00:05:35,835
Oh!
[ Glasses clinking ]
156
00:05:35,836 --> 00:05:38,006
Beautiful toast.
157
00:05:38,008 --> 00:05:40,588
You're not going anywhere
for a long time,
158
00:05:40,591 --> 00:05:42,011
and I know that.
159
00:05:42,012 --> 00:05:43,342
You got to rest.
160
00:05:43,343 --> 00:05:44,603
You got to relax.
161
00:05:44,595 --> 00:05:47,385
Remember that trip
that you took to France?
162
00:05:47,388 --> 00:05:48,768
You went to Provence,
163
00:05:48,769 --> 00:05:52,679
and there was a villa --
Bonne Chance?
164
00:05:52,683 --> 00:05:53,933
Bonne Chance.
Bonne Chance.
165
00:05:53,934 --> 00:05:55,404
That's right.
Okay.
166
00:05:55,396 --> 00:05:57,106
And you said it was
like heaven on earth, right?
167
00:05:57,107 --> 00:05:59,777
Yes.
It was beautiful.
168
00:05:59,780 --> 00:06:01,780
Well, I, uh...
169
00:06:01,782 --> 00:06:04,072
I got you a little bit
of heaven on earth.
170
00:06:07,788 --> 00:06:10,408
Seriously.
171
00:06:10,411 --> 00:06:13,581
I bought you that villa.
172
00:06:13,584 --> 00:06:15,424
You bought me that house?
173
00:06:15,416 --> 00:06:16,666
Yeah.
Oh, my God.
174
00:06:16,667 --> 00:06:18,587
Really, Bern?
175
00:06:18,589 --> 00:06:19,589
What?
176
00:06:19,590 --> 00:06:20,670
No, come on.
177
00:06:20,671 --> 00:06:22,341
No. [ Chuckles ]
178
00:06:22,342 --> 00:06:25,512
You accept it
because you deserve it, okay?
179
00:06:29,930 --> 00:06:31,810
You're crazy.
You know that?
180
00:06:34,104 --> 00:06:36,654
[ Chuckles ]
181
00:06:41,281 --> 00:06:43,901
♪♪
182
00:07:01,752 --> 00:07:03,342
Is everything all right?
183
00:07:03,343 --> 00:07:05,183
Yeah, you know,
you -- you were on the phone
184
00:07:05,175 --> 00:07:06,095
much more than usual
this weekend.
185
00:07:06,096 --> 00:07:07,596
I'm fine, I'm fine.
186
00:07:07,598 --> 00:07:09,928
I just had
to put out a fire.
Mm. Mm.
187
00:07:09,930 --> 00:07:13,140
I've decided
we're gonna do it.
188
00:07:13,143 --> 00:07:15,653
Do what?
The addition to the house.
189
00:07:15,646 --> 00:07:18,016
Okay? Okay.
190
00:07:18,018 --> 00:07:21,728
It's a -- a great big
indoor-outdoor rec room
191
00:07:21,732 --> 00:07:24,572
right -- right off
of the living room.
192
00:07:24,565 --> 00:07:26,325
And the patio -- You know,
it's just sitting there.
193
00:07:26,326 --> 00:07:27,696
Nobody's using it.
194
00:07:27,698 --> 00:07:30,488
[ Laughing ] Why do we have
to build an addition?
195
00:07:30,491 --> 00:07:32,951
You want a bigger house.
We'll buy a bigger house.
196
00:07:32,953 --> 00:07:34,163
No, no, no.
Unh-unh.
197
00:07:34,164 --> 00:07:35,424
No.
198
00:07:35,415 --> 00:07:37,745
I am never saying goodbye
to this house.
199
00:07:37,748 --> 00:07:39,338
No, I love it.
200
00:07:39,339 --> 00:07:42,459
It's our first
real splurge --
201
00:07:42,462 --> 00:07:45,392
from Roslyn Heights
to Montauk.
202
00:07:45,385 --> 00:07:47,215
Yeah.
203
00:07:49,720 --> 00:07:52,930
♪♪
204
00:07:55,856 --> 00:07:57,306
MAN: There's no limit.
205
00:07:57,307 --> 00:07:59,397
[ Indistinct conversations ]
206
00:08:03,023 --> 00:08:04,153
[ Telephone rings ]
MAN #2: Judy, Judy!
207
00:08:04,154 --> 00:08:05,784
Take this freaking call,
will you?
208
00:08:05,776 --> 00:08:07,816
Trades that used to take
a day and a half,
209
00:08:07,818 --> 00:08:09,818
now you can do
in a millisecond.
210
00:08:09,820 --> 00:08:11,240
New offices look terrific.
Thank you.
211
00:08:11,241 --> 00:08:12,321
How long
have you been here?
212
00:08:12,322 --> 00:08:13,702
About a year.
213
00:08:13,704 --> 00:08:17,004
Here's, uh, my two boys --
Mark and Andrew.
214
00:08:16,997 --> 00:08:18,877
Say hello to Nathan.
Huh?
215
00:08:18,879 --> 00:08:20,039
They're growing up.
216
00:08:20,040 --> 00:08:23,290
And, uh,
in here should be...
217
00:08:23,293 --> 00:08:24,593
Yes.
218
00:08:24,585 --> 00:08:26,625
Peter, my brother,
219
00:08:26,627 --> 00:08:28,127
and this is his daughter,
Shana,
220
00:08:28,128 --> 00:08:29,468
who's
our new in-house counsel.
221
00:08:29,469 --> 00:08:30,469
Hi, there.
How are you?
222
00:08:30,470 --> 00:08:31,720
Peter was the one
who thought
223
00:08:31,722 --> 00:08:34,732
about all that computer stuff
long before I did.
224
00:08:34,725 --> 00:08:36,305
I was still using
an abacus.
225
00:08:36,306 --> 00:08:37,766
[ Chuckles ]
That's amazing.
226
00:08:37,768 --> 00:08:39,688
We have something
for you.
Yeah.
227
00:08:39,690 --> 00:08:42,270
I suppose there are two ways
now to look at this place --
228
00:08:42,272 --> 00:08:45,952
as a high-tech
financial-services outfit
229
00:08:45,946 --> 00:08:47,856
that helped create NASDAQ,
230
00:08:47,858 --> 00:08:49,948
or, as I like to see it,
231
00:08:49,950 --> 00:08:53,990
a very closely knit
family business.
232
00:08:53,994 --> 00:08:56,374
You know
how I look at you?
How?
233
00:08:56,366 --> 00:08:57,996
As a guy who doubled my money
in six years.
234
00:09:00,500 --> 00:09:02,330
That's for
his college fund.
235
00:09:02,332 --> 00:09:03,332
[ Telephone rings ]
236
00:09:04,925 --> 00:09:06,545
Hello?
237
00:09:06,546 --> 00:09:08,966
FRANK: Avellino and Bienes
just landed at JFK.
238
00:09:08,969 --> 00:09:10,169
They're on their way.
239
00:09:10,170 --> 00:09:12,090
I'll be there in five.
240
00:09:12,092 --> 00:09:13,672
Nathan,
got to cut it short.
241
00:09:13,674 --> 00:09:15,894
It's good seeing you again,
Bernie.
242
00:09:15,886 --> 00:09:17,226
Good seeing you.
243
00:09:17,227 --> 00:09:20,057
Bernard L. Madoff
Investment Securities.
244
00:09:20,060 --> 00:09:22,350
I built this firm from nothing
245
00:09:22,352 --> 00:09:24,522
into one of
the premier market-making firms
246
00:09:24,524 --> 00:09:25,954
on Wall Street.
247
00:09:25,946 --> 00:09:27,146
What's market making?
248
00:09:27,147 --> 00:09:28,987
Don't worry.
You don't need to know.
249
00:09:28,989 --> 00:09:32,029
It's not the sexiest corner
of the finance world,
250
00:09:32,032 --> 00:09:34,752
but it's 100% legit.
251
00:09:34,745 --> 00:09:37,495
The only thing is,
it doesn't have a thing to do
252
00:09:37,497 --> 00:09:39,867
with managing
my investors' money.
253
00:09:39,870 --> 00:09:44,460
The exclusive fund with the
amazingly consistent returns?
254
00:09:44,464 --> 00:09:45,974
That's a whole other business
255
00:09:45,966 --> 00:09:51,336
that I run from down here
on the 17th floor.
256
00:09:51,341 --> 00:09:55,351
Nobody, but nobody, comes down
here without my permission.
257
00:09:55,345 --> 00:09:57,135
[ Beep, lock disengages ]
258
00:09:59,559 --> 00:10:02,519
But it's not the kind of thing
you can do alone.
259
00:10:02,522 --> 00:10:03,932
Meet Annette Bongiorno.
260
00:10:03,934 --> 00:10:05,784
Bernie.
261
00:10:05,776 --> 00:10:08,856
When I hired her, she looked
like Elizabeth Taylor.
262
00:10:08,859 --> 00:10:11,489
Annette makes sure
the detailed account statements
263
00:10:11,491 --> 00:10:13,651
go out to our clients
every month.
264
00:10:13,654 --> 00:10:15,244
[ Telephone ringing ]
265
00:10:17,157 --> 00:10:18,197
Jodi Crupi.
266
00:10:18,198 --> 00:10:19,698
Oh, hey, Bernie.
267
00:10:19,700 --> 00:10:23,830
Annette's best friend's
cousin's lesbian girlfriend.
268
00:10:23,834 --> 00:10:27,674
Her one and only job -- knowing
the daily balance of the fund.
269
00:10:27,668 --> 00:10:31,168
Finally,
the man behind the wheel
270
00:10:31,171 --> 00:10:33,711
down here on the 17th floor.
271
00:10:33,714 --> 00:10:37,644
He walked in my door at age 19
with nothing but chutzpah.
272
00:10:37,637 --> 00:10:40,757
Now he's as essential
as my right hand.
273
00:10:40,761 --> 00:10:43,471
Frank DiPascali.
274
00:10:43,473 --> 00:10:45,733
We got a problem, Bernie.
275
00:10:48,568 --> 00:10:50,898
Well, let's get down
to business.
276
00:10:50,901 --> 00:10:52,981
How much is in the Avellino
and Bienes account right now?
277
00:10:52,983 --> 00:10:56,453
Uh, about $400 million.
278
00:10:56,446 --> 00:10:57,986
About $400 million.
279
00:10:57,988 --> 00:10:59,778
I don't care
about "about."
280
00:10:59,780 --> 00:11:01,410
I want to know exactly.
281
00:11:01,411 --> 00:11:03,741
Okay.
Let me get Annette.
282
00:11:03,744 --> 00:11:05,554
Annette, get in here.
283
00:11:05,545 --> 00:11:07,375
Bring the Avellino
and Bienes account.
284
00:11:07,377 --> 00:11:09,707
ANNETTE: How about you get off
your butt and come get them?
285
00:11:09,710 --> 00:11:11,500
Hey, hey.
286
00:11:11,501 --> 00:11:13,961
Bring it in to Bernie,
okay?
287
00:11:13,964 --> 00:11:15,264
[ Scoffs ] I swear.
288
00:11:15,255 --> 00:11:17,555
She gets to be more
of a pain the ass every day.
289
00:11:17,557 --> 00:11:18,637
Watch out.
290
00:11:18,638 --> 00:11:19,968
She's the one
who brought you in.
291
00:11:19,970 --> 00:11:21,930
Yeah,
17 years, two husbands,
292
00:11:21,932 --> 00:11:24,182
and about
1,500 eggplant Parms ago.
293
00:11:24,184 --> 00:11:25,614
[ Laughs ]
[ Door opens ]
294
00:11:25,605 --> 00:11:27,225
I'm sorry, Bernie.
295
00:11:27,227 --> 00:11:29,857
I didn't know I was talking
to anybody but Mussolini here.
296
00:11:29,860 --> 00:11:31,860
Annette, just give me
the accounts, will you?
Yeah, the account.
297
00:11:31,862 --> 00:11:33,272
Jodi.
298
00:11:33,273 --> 00:11:36,583
$388,693,119.
299
00:11:36,576 --> 00:11:38,486
Total of cash accounts
as of 9:00 a.m. this morning.
300
00:11:38,488 --> 00:11:39,738
Excellent.
301
00:11:39,740 --> 00:11:41,120
Yeah, fine. Okay.
302
00:11:41,121 --> 00:11:42,991
Thank you.
No, thank you.
303
00:11:42,993 --> 00:11:44,583
Get out of here, will you?
304
00:11:44,584 --> 00:11:46,754
Go chase a car.
305
00:11:46,747 --> 00:11:48,377
[ Door closes ]
306
00:11:48,378 --> 00:11:51,828
Okay, so, we're only
about $14 million short.
307
00:11:51,832 --> 00:11:54,502
I mean, if worse came to worse
and we had to pay it all back...
308
00:11:54,504 --> 00:11:57,184
Well, we have to pay everybody
back to the last dime,
309
00:11:57,177 --> 00:11:59,927
or else we're gonna be
facing an SEC inquiry.
310
00:11:59,930 --> 00:12:02,010
Does Avellino and Bienes
know that?
311
00:12:02,012 --> 00:12:03,892
In about an hour.
312
00:12:03,894 --> 00:12:05,734
♪♪
313
00:12:05,725 --> 00:12:08,765
Frank Avellino
and Michael Bienes.
314
00:12:08,769 --> 00:12:11,059
These two suckers
are under the illusion
315
00:12:11,061 --> 00:12:13,811
that their investors in my fund
316
00:12:13,814 --> 00:12:18,204
have a collective net worth
of -- yep, that's right --
317
00:12:18,198 --> 00:12:21,198
$402 million...
318
00:12:21,201 --> 00:12:24,451
that I now have to repay
in full.
319
00:12:24,454 --> 00:12:25,924
There he is.
Bernie.
320
00:12:25,916 --> 00:12:27,826
Hey. Hey.
321
00:12:27,828 --> 00:12:30,248
Bernie, you look great.
You look great.
Thanks a lot.
322
00:12:30,250 --> 00:12:31,170
And the boys...
Grown men!
323
00:12:31,171 --> 00:12:32,171
Oh. Yeah.
324
00:12:32,172 --> 00:12:33,872
Three grandkids now,
am I right?
325
00:12:33,874 --> 00:12:35,434
Yeah,
beautiful grandkids...
326
00:12:35,425 --> 00:12:37,585
Beautiful.
...beautiful kids,
beautiful...wife.
327
00:12:37,587 --> 00:12:38,877
Shut up and sit down.
328
00:12:38,879 --> 00:12:41,299
[ Scoffs ]
329
00:12:44,594 --> 00:12:46,394
It's over.
330
00:12:46,386 --> 00:12:47,976
What do you mean,
"it's over"?
331
00:12:47,978 --> 00:12:49,268
I mean, it's over.
332
00:12:49,269 --> 00:12:50,889
I'm shutting you down.
333
00:12:50,891 --> 00:12:52,391
Bernie.
Come on.
334
00:12:52,392 --> 00:12:53,602
Hear us out, Bernie.
We never --
335
00:12:53,603 --> 00:12:55,203
How many millions
of dollars
336
00:12:55,195 --> 00:12:57,815
have I made you guys
over the last 20 years, huh?
337
00:12:57,818 --> 00:12:59,108
Huh?
338
00:12:59,109 --> 00:13:00,739
You're buying art.
339
00:13:00,740 --> 00:13:02,400
You got a yacht.
340
00:13:02,402 --> 00:13:05,082
I understand you're actually
doing some philanthropy, right?
341
00:13:05,075 --> 00:13:06,575
[ Chuckles ]
342
00:13:06,576 --> 00:13:10,666
So if I was you, the question
I would be asking is,
343
00:13:10,670 --> 00:13:14,670
how much is this lifestyle
worth to keep it?
344
00:13:21,261 --> 00:13:22,761
Now...
345
00:13:24,184 --> 00:13:26,314
...here's what
you're gonna do.
346
00:13:26,306 --> 00:13:29,516
You're gonna do everything
my lawyer tells you to do.
347
00:13:29,519 --> 00:13:31,979
You're gonna pay
any fines or penalties
348
00:13:31,982 --> 00:13:33,522
that are levied
against you.
349
00:13:33,523 --> 00:13:36,903
And you're gonna tell your
partner, this King Arthur guy,
350
00:13:36,897 --> 00:13:38,317
that his little pamphlet
351
00:13:38,318 --> 00:13:40,738
put the two of you
out of business, okay?
352
00:13:40,740 --> 00:13:41,740
Whatever you say, Bernie.
353
00:13:41,741 --> 00:13:42,701
Is that clear?
354
00:13:42,702 --> 00:13:45,412
Yeah, but, um...
355
00:13:45,405 --> 00:13:47,245
just so you know,
this King Arthur guy --
356
00:13:47,247 --> 00:13:48,447
We told him the rules.
We did.
357
00:13:48,448 --> 00:13:49,658
He knew the rules.
It wasn't us.
358
00:13:49,659 --> 00:13:52,329
You know, it may be
exactly as you say.
359
00:13:52,332 --> 00:13:55,012
But here we are.
360
00:13:57,127 --> 00:14:00,337
Those for Ruth?
361
00:14:00,340 --> 00:14:01,420
Yeah.
362
00:14:01,421 --> 00:14:04,051
I'm gonna do you
a favor.
363
00:14:06,056 --> 00:14:07,676
Ruth hates irises.
364
00:14:07,677 --> 00:14:09,467
[ Chuckles ]
365
00:14:09,469 --> 00:14:11,389
So pick a secretary
and give it to her.
366
00:14:11,391 --> 00:14:12,891
Get out, get out.
Get out.
367
00:14:16,776 --> 00:14:19,566
Hey, Shana.
368
00:14:19,569 --> 00:14:21,399
Do you have any idea what
they're talking about in there?
369
00:14:21,401 --> 00:14:22,981
Who knows, Mark?
370
00:14:22,983 --> 00:14:24,693
Maybe they're
picking horses.
371
00:14:29,539 --> 00:14:32,869
The problem is gonna be
getting another $400 million
372
00:14:32,872 --> 00:14:35,342
before another client
asks for a big redemption.
373
00:14:35,335 --> 00:14:37,255
Why not hit up
one of the big fish?
374
00:14:37,257 --> 00:14:38,797
Carl? Or Picower?
375
00:14:38,798 --> 00:14:40,458
No, no.
Or Levy.
376
00:14:40,460 --> 00:14:42,170
I mean, those guys got
plenty more they could put in.
377
00:14:42,172 --> 00:14:44,212
Two decades, these people
have been with me,
378
00:14:44,214 --> 00:14:45,814
and they've been
making straight money.
379
00:14:45,805 --> 00:14:47,135
Carl even longer.
380
00:14:47,137 --> 00:14:49,807
I ask for a handout from them,
and they lose confidence.
381
00:14:49,809 --> 00:14:51,679
No, no, no, no, no.
382
00:14:51,681 --> 00:14:53,271
Big fish.
383
00:14:53,273 --> 00:14:55,903
Big fish are out,
and so are their friends.
384
00:14:55,895 --> 00:14:57,395
Well, that takes care
385
00:14:57,397 --> 00:14:59,817
of just about every Jewish
businessman in New York City.
386
00:14:59,819 --> 00:15:01,019
Okay.
387
00:15:01,021 --> 00:15:02,281
All right. Enough.
388
00:15:02,282 --> 00:15:03,232
Enough for today.
389
00:15:06,076 --> 00:15:07,826
You know, the SEC
390
00:15:07,827 --> 00:15:09,697
is still gonna want
to see records, you know?
391
00:15:09,699 --> 00:15:11,029
So give them some records.
392
00:15:11,031 --> 00:15:12,531
What, for 3,000 clients?
393
00:15:12,532 --> 00:15:14,332
Yeah. So?
394
00:15:14,334 --> 00:15:16,634
Some of those accounts
go back to the 1960s.
395
00:15:16,626 --> 00:15:18,206
Well, I guess
you'll just have
396
00:15:18,208 --> 00:15:19,668
to earn your paycheck,
won't you?
397
00:15:19,669 --> 00:15:20,669
♪♪
398
00:15:20,670 --> 00:15:22,300
BERNIE: Oh.
Oh, yeah.
399
00:15:22,302 --> 00:15:24,212
Mm. Oh, yeah.
400
00:15:24,214 --> 00:15:25,354
Oh.
Yeah.
401
00:15:25,345 --> 00:15:26,925
Oh.
Where the arch is.
402
00:15:26,926 --> 00:15:27,886
Get -- Get --
Get in there.
403
00:15:27,887 --> 00:15:29,347
You -- Mm!
Aah!
404
00:15:29,349 --> 00:15:31,929
How's your back?
You've got a lot of tension.
405
00:15:31,931 --> 00:15:33,101
Everywhere.
Oh, wait.
406
00:15:33,103 --> 00:15:34,433
Even up here.
Stop!
407
00:15:34,434 --> 00:15:36,064
It's the business.
It's the business.
408
00:15:36,056 --> 00:15:37,816
What, honey?
What do you mean?
409
00:15:37,817 --> 00:15:39,557
We're not expanding.
410
00:15:39,559 --> 00:15:41,319
We've got
to keep expanding.
411
00:15:41,321 --> 00:15:42,441
Or else...
Oh.
412
00:15:42,442 --> 00:15:44,522
Or else you're going backwards.
Yeah, I know.
413
00:15:44,524 --> 00:15:46,204
So, what do -- What do
you want to do about it?
414
00:15:46,196 --> 00:15:48,276
I want to get bigger.
415
00:15:48,278 --> 00:15:49,778
I want to get
bigger investors.
416
00:15:49,779 --> 00:15:51,829
I want more.
417
00:15:51,831 --> 00:15:53,951
You mean like
that Jeremy Billings
418
00:15:53,953 --> 00:15:56,633
we met in Florida last year
with his wife?
419
00:15:56,626 --> 00:15:57,996
You remember?
Who?
420
00:15:57,998 --> 00:15:59,628
His partner's Blake North.
421
00:15:59,629 --> 00:16:03,579
They've got this big,
very fancy hedge fund,
422
00:16:03,583 --> 00:16:06,053
and he's got
five daughters.
423
00:16:06,046 --> 00:16:09,296
And if that isn't a kick,
they all look like models, too.
424
00:16:09,299 --> 00:16:10,929
Where did --
How do you know all this?
425
00:16:10,930 --> 00:16:13,180
I can read.
426
00:16:13,183 --> 00:16:14,593
[ Laughs ]
427
00:16:14,594 --> 00:16:16,364
Look at this.
Gorgeous, huh?
428
00:16:17,977 --> 00:16:19,397
Well...
429
00:16:19,399 --> 00:16:22,019
I doubt they have
any Jewish friends.
430
00:16:22,022 --> 00:16:24,442
They look like a Polo ad,
huh?
431
00:16:24,444 --> 00:16:26,784
Why -- Why don't you
invite him to lunch?
432
00:16:26,776 --> 00:16:28,156
No.
433
00:16:28,158 --> 00:16:30,658
Why don't you invite her
to lunch
434
00:16:30,660 --> 00:16:34,530
and tell her we don't accept
any new investors?
435
00:16:34,534 --> 00:16:37,754
You are a vice president
of the company, after all.
436
00:16:37,747 --> 00:16:39,037
All right.
437
00:16:39,039 --> 00:16:44,709
If you want me to earn
my salary, you insist, okay.
438
00:16:46,626 --> 00:16:48,006
[ Laughs ]
439
00:16:48,007 --> 00:16:49,927
Greenwich, Connecticut.
440
00:16:49,929 --> 00:16:51,799
Home of Blake North.
441
00:16:51,801 --> 00:16:55,191
If I could reel him in,
the money I needed to pay out
442
00:16:55,185 --> 00:16:56,845
would be pocket change.
443
00:16:56,846 --> 00:16:58,596
BLAKE: Legacy.
444
00:16:58,598 --> 00:17:00,308
Heritage. Tradition.
445
00:17:00,310 --> 00:17:02,190
Those were the big words
in my family.
446
00:17:02,192 --> 00:17:04,522
So you can imagine the uproar
447
00:17:04,524 --> 00:17:08,114
when I off and married this
exotic "mujer from the barrio."
448
00:17:08,108 --> 00:17:10,858
He's wearing a pink jacket.
449
00:17:10,860 --> 00:17:12,650
Don't laugh.
450
00:17:12,652 --> 00:17:14,572
With his money, he can wear
whatever the hell he wants.
451
00:17:14,574 --> 00:17:16,714
I grew up in Rio, but went
to school in Switzerland.
452
00:17:16,706 --> 00:17:19,116
We sent
all our girls there, too.
453
00:17:19,119 --> 00:17:21,079
All five of them?
Right?
454
00:17:21,081 --> 00:17:22,621
Oh, my God.
Mm-hmm.
455
00:17:22,622 --> 00:17:25,092
I saw a picture of them
in East End Living.
456
00:17:25,085 --> 00:17:27,665
So beautiful.
Mm-hmm.
457
00:17:27,667 --> 00:17:29,047
Yeah.
Well, you must have had
your hands full
458
00:17:29,048 --> 00:17:30,838
when they were teenagers,
huh?
459
00:17:30,840 --> 00:17:32,720
Why do you think
we sent them to Switzerland?
460
00:17:32,722 --> 00:17:34,842
[ Laughter ]
461
00:17:34,844 --> 00:17:36,894
And where did your boys
go for school?
462
00:17:36,886 --> 00:17:39,176
Well, for high school,
Roslyn High,
463
00:17:39,179 --> 00:17:40,269
home of the Warriors.
464
00:17:40,270 --> 00:17:41,680
[ Laughs ]
465
00:17:41,681 --> 00:17:45,611
And then Mark went to Michigan
and Andy went to Penn.
466
00:17:45,605 --> 00:17:48,025
How about your girls?
Where did they go to college?
467
00:17:48,027 --> 00:17:51,687
Oh --
Honey, why don't
you show Ruth the stables?
468
00:17:51,691 --> 00:17:54,781
They, uh, they were feeding
the Arabians there earlier.
469
00:17:54,784 --> 00:17:57,204
Magnificent creatures if you've
never seen them up close.
470
00:17:57,197 --> 00:18:00,537
I guess you know the code
for "time for business"...
471
00:18:00,540 --> 00:18:03,750
Yes.
...as well as you do,
I'm sure.
472
00:18:03,753 --> 00:18:05,713
Ah.
[ Chuckles ]
473
00:18:05,705 --> 00:18:08,465
This way.
474
00:18:08,468 --> 00:18:10,878
Okay.
475
00:18:10,880 --> 00:18:13,050
So, where did you send
your girls to college?
476
00:18:13,052 --> 00:18:17,432
Harvard, Brown...
477
00:18:17,427 --> 00:18:20,887
Princeton, Brown,
Princeton.
478
00:18:20,890 --> 00:18:24,100
♪♪
479
00:18:28,568 --> 00:18:31,528
He's waiting for me
to pitch him.
480
00:18:34,614 --> 00:18:36,874
I don't pitch.
481
00:18:39,118 --> 00:18:42,868
Right now,
only one thing counts.
482
00:18:42,872 --> 00:18:45,842
Whoever talks first, loses.
483
00:18:53,923 --> 00:18:57,263
So, I'm glad
our lawyers put us together.
484
00:19:01,140 --> 00:19:05,860
I remember now
that Irving gave me $50,000
485
00:19:05,855 --> 00:19:09,265
at a time when that was
quite a bit of money
486
00:19:09,269 --> 00:19:11,649
for someone
in his position.
487
00:19:11,651 --> 00:19:16,411
And it has reached a point,
absolutely and certainly,
488
00:19:16,406 --> 00:19:18,536
your granddaughter
will have no trouble at all
489
00:19:18,538 --> 00:19:21,538
in making tuition
at any school of her choice.
490
00:19:21,541 --> 00:19:24,581
[ Chuckles ]
So, what can I do for you?
491
00:19:24,584 --> 00:19:27,254
On the one hand, I would
really like to take the money
492
00:19:27,247 --> 00:19:29,247
and put it
in a savings account,
493
00:19:29,249 --> 00:19:30,999
and on the other hand,
I mean,
494
00:19:31,000 --> 00:19:34,130
Irving spoke so highly of you,
and -- and he trusted you.
495
00:19:34,133 --> 00:19:36,973
Um, I'm going to write you
a check
496
00:19:36,966 --> 00:19:39,756
for the complete amount
of your account,
497
00:19:39,759 --> 00:19:44,559
and if you change your mind
and want to put it back with me,
498
00:19:44,564 --> 00:19:47,984
I will gladly accept it.
499
00:19:47,977 --> 00:19:51,477
Here is that check.
500
00:19:51,481 --> 00:19:53,271
Yeah, the check's no good.
501
00:19:53,273 --> 00:19:54,903
But look at her eyes.
502
00:19:54,904 --> 00:19:57,124
She trusts me.
503
00:19:57,116 --> 00:19:59,156
[ Sighs ]
504
00:20:02,662 --> 00:20:05,332
Well, Irving trusted you.
505
00:20:05,325 --> 00:20:09,875
Trust -- the basis
of any long-term relationship.
506
00:20:09,879 --> 00:20:14,039
I had $3,000 in my bank account
on my wedding day --
507
00:20:14,043 --> 00:20:16,393
just the money
I saved from summer jobs.
508
00:20:16,386 --> 00:20:18,176
BERNIE: Now, there's
no guarantees in life,
509
00:20:18,177 --> 00:20:20,007
but this is as close to it
as you're gonna get.
510
00:20:20,009 --> 00:20:21,179
It's money in your pocket,
511
00:20:21,180 --> 00:20:22,930
and I want to get you in
on the ground floor
512
00:20:22,932 --> 00:20:25,482
because this is a home-run deal,
all right?
513
00:20:25,475 --> 00:20:27,935
The ball
is sailing over the wall
514
00:20:27,937 --> 00:20:29,897
at Yankee Stadium as we speak,
515
00:20:29,899 --> 00:20:31,849
and I want to get you in there
before some schmuck...
516
00:20:31,851 --> 00:20:35,361
Dialing for dollars, pushing
penny stocks, I was doing fine.
517
00:20:35,355 --> 00:20:36,655
Now, look, I understand
why you'd be apprehensive.
518
00:20:36,656 --> 00:20:38,616
I get it.
519
00:20:38,618 --> 00:20:43,568
But it is 100 shares for $10.
520
00:20:43,573 --> 00:20:46,423
What do you have to lose?
521
00:20:46,416 --> 00:20:48,866
MAN: Okay, put me down
for 100 shares, Bernie.
522
00:20:48,868 --> 00:20:50,418
I thought you'd see it my way.
523
00:20:50,420 --> 00:20:52,460
But it was
my father-in-law, Saul...
All right.
524
00:20:52,462 --> 00:20:54,672
...who set the big balls
in motion
525
00:20:54,674 --> 00:20:57,094
by believing
in his new son-in-law enough
526
00:20:57,086 --> 00:20:59,336
to pitch to him
his best clients.
527
00:20:59,339 --> 00:21:03,589
Bernie, I want you
to meet Jerry Samuels.
528
00:21:03,593 --> 00:21:05,983
My son-in-law,
Bernard L. Madoff.
529
00:21:05,975 --> 00:21:07,845
Jerry Samuels.
530
00:21:07,847 --> 00:21:09,267
Saul tells me you're ready
to make some money.
531
00:21:09,268 --> 00:21:10,518
Steven Hirsch.
532
00:21:10,520 --> 00:21:13,150
My son-in-law,
Bernard L. Madoff.
533
00:21:13,152 --> 00:21:15,102
Steven Hirsch.
534
00:21:15,104 --> 00:21:16,324
It's a pleasure
to meet you.
535
00:21:16,316 --> 00:21:17,446
Saul says you're ready
to make some money.
536
00:21:17,447 --> 00:21:18,857
Samuel Scheinbaum.
537
00:21:18,858 --> 00:21:21,108
My son-in-law,
Bernard L. Madoff.
538
00:21:21,110 --> 00:21:23,990
Samuel Scheinbaum.
It's a pleasure to meet you.
539
00:21:23,993 --> 00:21:25,713
Saul says you're ready
to make some money.
540
00:21:25,705 --> 00:21:29,035
Within a year of Saul
funneling me clients
541
00:21:29,038 --> 00:21:32,998
from his accounting business,
I was $25,000 in the black.
542
00:21:36,085 --> 00:21:38,755
Then it all fell off a cliff.
543
00:21:38,758 --> 00:21:42,298
The penny stocks
I had my clients in got killed.
544
00:21:45,094 --> 00:21:46,934
That's when it hit me.
545
00:21:46,926 --> 00:21:51,926
All I needed was someone
to cover my clients' losses...
546
00:21:51,931 --> 00:21:53,981
someone whose cash I could use
547
00:21:53,983 --> 00:21:56,363
and make it look like
they'd weathered the storm,
548
00:21:56,356 --> 00:21:58,646
like I'd kept them safe.
549
00:21:58,648 --> 00:22:00,938
It would take
every penny I earned to do it,
550
00:22:00,940 --> 00:22:03,360
but I could make them whole.
551
00:22:03,363 --> 00:22:05,543
You can call it cheating
if you want,
552
00:22:05,535 --> 00:22:07,575
but are you really
doing anything wrong
553
00:22:07,577 --> 00:22:11,537
if the Peter you're robbing
to pay Paul is you?
554
00:22:11,541 --> 00:22:13,751
$72 --
That's all I'd have left.
555
00:22:13,753 --> 00:22:17,593
But it was a small price to pay
for what I was buying --
556
00:22:17,587 --> 00:22:21,217
admiration, trust, respect.
557
00:22:21,220 --> 00:22:23,960
Sam.
Bernie Madoff.
558
00:22:23,963 --> 00:22:25,773
Hey.
Slow down, slow down, slow down.
559
00:22:25,765 --> 00:22:27,175
That -- That -- That --
That's why I'm calling, Sam.
560
00:22:27,176 --> 00:22:28,726
You're okay.
561
00:22:28,728 --> 00:22:30,388
I saw this whole thing
coming a week ago.
562
00:22:30,390 --> 00:22:32,310
I moved your entire portfolio
into Treasuries.
563
00:22:32,311 --> 00:22:33,851
Everything is aces.
564
00:22:33,853 --> 00:22:35,023
Like I said...
565
00:22:35,024 --> 00:22:36,864
[ Chuckles ] No.
566
00:22:36,856 --> 00:22:38,236
I'm not a genius.
567
00:22:38,237 --> 00:22:39,607
I just know
how to ride the market.
568
00:22:39,609 --> 00:22:42,609
...the basis of
any long-term relationship.
569
00:22:42,612 --> 00:22:45,322
♪♪
570
00:22:48,448 --> 00:22:49,908
You promoted Frank.
571
00:22:55,625 --> 00:22:57,585
You won't let us
in the investment business,
572
00:22:57,587 --> 00:22:59,047
and you promote Frank.
573
00:22:59,048 --> 00:23:01,548
I've worked here
for seven years, Dad.
574
00:23:01,551 --> 00:23:02,761
I earned that promotion.
575
00:23:02,762 --> 00:23:04,302
[ Chuckles ]
576
00:23:04,303 --> 00:23:08,143
You know, boychick,
you remind me of me.
577
00:23:08,137 --> 00:23:09,307
I love you.
578
00:23:09,308 --> 00:23:12,808
Listen,
Frank's been here 20 years.
579
00:23:12,812 --> 00:23:16,072
Seven years
is barely out of the minors.
580
00:23:16,065 --> 00:23:18,435
The minors?
581
00:23:18,438 --> 00:23:21,478
I reorganized the workflow
between traders and management.
582
00:23:21,481 --> 00:23:24,281
Andy developed our entire
strategy for emerging markets.
583
00:23:24,283 --> 00:23:27,623
We manage hundreds of millions
of dollars every year
584
00:23:27,617 --> 00:23:28,907
here on 19.
585
00:23:28,908 --> 00:23:31,578
We're good at what we do,
Dad.
586
00:23:31,581 --> 00:23:34,371
So...
587
00:23:34,373 --> 00:23:36,803
look, why won't you
just let us in?
588
00:23:36,796 --> 00:23:38,876
We can help with
investment management on 17
589
00:23:38,878 --> 00:23:40,628
just like we do
with trading up here.
590
00:23:40,630 --> 00:23:44,590
Marky, I'll know
when you're ready.
591
00:23:44,594 --> 00:23:48,514
I built this whole thing
by listening to my gut.
592
00:23:48,508 --> 00:23:51,428
So when my gut tells me you're
ready, you're in like Flynn.
593
00:23:51,430 --> 00:23:53,890
And until then, you've got
financial security,
594
00:23:53,893 --> 00:23:55,053
you're seasoned.
595
00:23:55,054 --> 00:23:56,614
Come on.
596
00:23:56,606 --> 00:23:58,396
A little patience, pal.
597
00:23:58,397 --> 00:24:00,817
Yeah, come on, Marky.
Don't call me Marky.
598
00:24:02,401 --> 00:24:05,191
[ Golf club clacks ]
[ Scoffs ]
599
00:24:05,194 --> 00:24:06,624
You know, just...
600
00:24:06,616 --> 00:24:08,446
Just so I'm clear,
601
00:24:08,447 --> 00:24:11,367
you're saying that Frank
is qualified and I'm not?
602
00:24:11,370 --> 00:24:12,950
Marky...
603
00:24:12,952 --> 00:24:15,242
why don't you take it
like this?
604
00:24:15,244 --> 00:24:18,964
If he screws up,
I can fire him.
605
00:24:18,958 --> 00:24:21,708
If you screw up,
I can't fire you.
606
00:24:21,711 --> 00:24:23,381
You're blood.
607
00:24:23,382 --> 00:24:28,182
So until I know,
we do it my way.
608
00:24:28,177 --> 00:24:30,427
And now we're done.
609
00:24:30,429 --> 00:24:33,849
You know what you need to do,
brother?
610
00:24:33,853 --> 00:24:38,233
You need to breathe, relax,
and trust Dad a little more.
611
00:24:38,227 --> 00:24:39,517
Okay?
612
00:24:39,519 --> 00:24:41,269
You're getting
what you want.
613
00:24:41,270 --> 00:24:42,940
Just be
a little more patient,
614
00:24:42,942 --> 00:24:46,112
and eventually, you will be
a very happy man.
615
00:24:46,105 --> 00:24:47,275
So just relax.
616
00:24:47,276 --> 00:24:49,946
But if you want
to keep pushing him,
617
00:24:49,949 --> 00:24:51,989
he's just gonna fight you.
618
00:24:51,991 --> 00:24:53,871
I'm really glad
we had this talk.
619
00:24:53,873 --> 00:24:56,793
♪♪
620
00:25:02,542 --> 00:25:05,212
[ Elevator bell dings ]
621
00:25:05,214 --> 00:25:07,394
[ Elevator door opens ]
622
00:25:12,011 --> 00:25:14,511
Are you, uh...
623
00:25:14,513 --> 00:25:16,563
I mean, do you have
your own passcard?
624
00:25:16,556 --> 00:25:17,846
Jodi...
625
00:25:17,847 --> 00:25:19,187
don't be ridiculous.
626
00:25:19,188 --> 00:25:20,938
[ Sighs ]
627
00:25:20,940 --> 00:25:22,520
[ Beep, lock disengages ]
628
00:25:27,236 --> 00:25:28,526
[ Door closes ]
629
00:25:28,527 --> 00:25:29,907
Um, Mark, is there
something that I can do for you?
630
00:25:29,909 --> 00:25:31,069
Jodi, I'm fine.
631
00:25:45,544 --> 00:25:47,054
[ Door opens ]
632
00:25:51,300 --> 00:25:53,300
FRANK: Can I help you
with something?
633
00:26:01,310 --> 00:26:03,770
Mark...
634
00:26:03,773 --> 00:26:04,643
can I help you?
635
00:26:06,896 --> 00:26:09,026
No, you can't help me.
636
00:26:13,362 --> 00:26:15,752
I just wanted to say...
637
00:26:15,745 --> 00:26:19,155
congratulations, Frank.
638
00:26:21,621 --> 00:26:22,501
Thank you.
639
00:26:26,125 --> 00:26:27,665
The SEC is here?
640
00:26:27,667 --> 00:26:29,507
Now? Today?
641
00:26:29,508 --> 00:26:31,298
BERNIE: Don't worry, Frank.
There's nothing to worry about.
642
00:26:31,300 --> 00:26:32,920
I mean, you could have
at least told me, huh?
643
00:26:32,922 --> 00:26:34,632
The records -- They aren't
even close to ready.
644
00:26:34,634 --> 00:26:36,484
Take a breath.
Take a breath, Frank.
I don't have signatures.
645
00:26:36,475 --> 00:26:38,675
I'm waiting
for the files to be --
Take a breath.
646
00:26:38,678 --> 00:26:41,978
We don't have to show them
any records today.
647
00:26:41,981 --> 00:26:45,141
All we got to do
is make them believe
648
00:26:45,144 --> 00:26:47,944
that we're gonna make
their lives easy.
649
00:26:47,937 --> 00:26:51,397
Now, very slowly,
650
00:26:51,400 --> 00:26:55,030
I want you to turn
and look at them.
651
00:26:55,034 --> 00:26:56,744
Go ahead.
652
00:27:04,794 --> 00:27:06,384
Now, you're gonna tell me
653
00:27:06,375 --> 00:27:09,665
that Frank DiPascali
is afraid of that?
654
00:27:09,669 --> 00:27:11,169
[ Chuckles ]
655
00:27:13,512 --> 00:27:15,132
It's the personal level
656
00:27:15,134 --> 00:27:17,394
that's the most embarrassing
for me.
657
00:27:17,386 --> 00:27:18,806
30 years
I've been doing business
658
00:27:18,808 --> 00:27:21,808
with Bienes and Avellino,
659
00:27:21,811 --> 00:27:25,181
and then to find out they're
selling securities improperly
660
00:27:25,184 --> 00:27:26,904
makes me
feel like an idiot.
661
00:27:26,896 --> 00:27:28,726
I spoke to your boss.
662
00:27:28,728 --> 00:27:30,108
I already told him
663
00:27:30,109 --> 00:27:33,229
to just say the hows
and the wheres and the whens,
664
00:27:33,232 --> 00:27:35,072
and we'll make sure
that all the investors
665
00:27:35,074 --> 00:27:36,664
have all their money back.
666
00:27:36,655 --> 00:27:39,905
I can't even imagine
how terrible the anxiety is
667
00:27:39,909 --> 00:27:41,079
these people are feeling.
668
00:27:42,742 --> 00:27:45,492
So, what happens next?
669
00:27:45,494 --> 00:27:47,004
Brass tacks.
670
00:27:46,996 --> 00:27:49,666
Well, it's pretty simply,
really.
671
00:27:49,668 --> 00:27:51,378
Basically,
we just need the records
672
00:27:51,380 --> 00:27:53,460
from the Avellino and Bienes
accounts
673
00:27:53,462 --> 00:27:56,352
dating back to when you started
doing business with them.
674
00:27:56,345 --> 00:27:58,425
30 years of fake documents?
675
00:27:58,427 --> 00:28:00,427
Frank could take care of it.
676
00:28:00,429 --> 00:28:03,139
And the SEC
wasn't the real problem.
677
00:28:03,142 --> 00:28:05,352
The real problem was,
678
00:28:05,354 --> 00:28:07,904
how was I gonna replace
that $400 million?
679
00:28:07,897 --> 00:28:10,567
♪♪
680
00:28:10,569 --> 00:28:13,519
When Carl Shapiro
first put money with me,
681
00:28:13,522 --> 00:28:16,912
it was like King Solomon
himself had vouched for me.
682
00:28:16,906 --> 00:28:18,526
The money I needed --
683
00:28:18,527 --> 00:28:22,027
Carl could have written me
a check for that in his sleep.
684
00:28:22,031 --> 00:28:25,701
The thing is, the main reason
he put so much money with me
685
00:28:25,704 --> 00:28:29,504
over all those years
is that I never asked for it.
686
00:28:29,498 --> 00:28:30,748
Ozzie Kraus.
687
00:28:30,750 --> 00:28:33,250
We started out together
in the Garment District.
688
00:28:33,252 --> 00:28:36,342
He said I was crazy to make
nice dresses out of cotton,
689
00:28:36,335 --> 00:28:37,795
that women wanted silk.
690
00:28:37,797 --> 00:28:40,467
I said, "Well, working women
like nice dresses, too."
691
00:28:40,469 --> 00:28:42,139
That was 1946.
692
00:28:42,141 --> 00:28:44,681
By 1951,
I made my first $10 million.
693
00:28:44,683 --> 00:28:47,023
He was still selling suits.
Mm.
694
00:28:49,348 --> 00:28:51,898
Looks like he's doing
pretty good, though.
Eh.
695
00:28:51,901 --> 00:28:53,611
Might be worth
$15 million, $20 million,
696
00:28:53,612 --> 00:28:55,562
but when you spread it
across all those years,
697
00:28:55,564 --> 00:28:57,324
it's not a hell
of a lot of growth.
698
00:28:57,316 --> 00:29:00,196
He didn't have the drive
like you do.
699
00:29:00,199 --> 00:29:01,569
Like I do.
700
00:29:01,570 --> 00:29:02,780
Millions?
701
00:29:02,782 --> 00:29:03,822
For schleppers.
702
00:29:03,823 --> 00:29:06,633
You got to go for billions.
703
00:29:06,625 --> 00:29:09,455
BOB: You know, they say tennis
is the sport of kings,
704
00:29:09,458 --> 00:29:11,958
but golf is the sport
of deal-making.
705
00:29:11,961 --> 00:29:14,501
I -- [ Chuckling ] That's --
That's why I quit tennis.
706
00:29:14,503 --> 00:29:16,933
"The son I never had" --
707
00:29:16,926 --> 00:29:19,836
That's what Carl's
been calling me for 30 years.
708
00:29:19,839 --> 00:29:20,879
ELLEN:
That's the only thing.
709
00:29:20,880 --> 00:29:22,300
See the Blumenthals
over there?
710
00:29:22,301 --> 00:29:24,641
Talked my ear off
all afternoon.
711
00:29:24,643 --> 00:29:26,393
"Can I please make
an introduction?
712
00:29:26,385 --> 00:29:28,185
I'm just dying to get
into Bernie's fund."
713
00:29:28,187 --> 00:29:30,227
They're probably
stalking you right now.
714
00:29:30,229 --> 00:29:33,269
His only daughter had married
a man named Bob Jaffe.
715
00:29:33,272 --> 00:29:36,612
All I'm saying is that
they're not the only members
716
00:29:36,605 --> 00:29:39,025
who would give their right hand
to get into the fund.
717
00:29:39,028 --> 00:29:42,398
You know, we come down here
to get away from business, Bob,
718
00:29:42,401 --> 00:29:44,321
not to drum it up.
719
00:29:44,323 --> 00:29:46,463
This is not a place
to discuss business.
720
00:29:46,455 --> 00:29:47,705
It's in the club charter.
721
00:29:47,706 --> 00:29:50,166
We don't talk business here.
722
00:29:50,169 --> 00:29:51,459
BOB: Of course.
723
00:29:51,460 --> 00:29:54,710
That said,
if you were to want to expand,
724
00:29:54,713 --> 00:29:57,183
I'd be more than willing
to help.
725
00:29:57,176 --> 00:29:58,296
Eat.
726
00:29:58,297 --> 00:29:59,467
ELLEN: Uh-oh.
727
00:29:59,468 --> 00:30:01,128
FRANK:
You think letting Bob Jaffe
728
00:30:01,130 --> 00:30:02,800
comb Palm Beach for clients
729
00:30:02,801 --> 00:30:04,841
will get you
$400 million overnight?
730
00:30:04,844 --> 00:30:08,984
Well, maybe yes
and maybe no, Frank, but...
731
00:30:08,978 --> 00:30:12,098
a few million here
and a few million there,
732
00:30:12,101 --> 00:30:14,521
it can buy us
some time, right?
733
00:30:17,316 --> 00:30:20,276
BLAKE: Hi, Bernie.
Blake North.
734
00:30:20,279 --> 00:30:22,649
Listen, I've been doing
my best with Jeremy,
735
00:30:22,651 --> 00:30:25,531
but it's just -- He still
feels he needs more to go on
736
00:30:25,534 --> 00:30:27,834
for us to consider
coming on board.
737
00:30:27,826 --> 00:30:30,656
So if we can facilitate
a meeting,
738
00:30:30,659 --> 00:30:34,789
I think it would go a long way
to settling his concerns.
739
00:30:34,793 --> 00:30:37,053
So, uh, give me a call.
740
00:30:41,260 --> 00:30:42,760
Hey.
741
00:30:42,761 --> 00:30:44,721
Hey!
742
00:30:47,176 --> 00:30:48,516
Hey!
743
00:30:54,313 --> 00:30:57,443
-Surprise!
-Surprise!
744
00:30:57,436 --> 00:30:59,736
♪ What a man,
what a man, what a man ♪
745
00:30:59,738 --> 00:31:01,688
♪ What a mighty good man ♪
Sweetheart.
746
00:31:01,690 --> 00:31:03,400
♪ Yes, he is ♪
747
00:31:03,402 --> 00:31:05,152
♪ What a man,
what a man, what a man ♪
748
00:31:05,154 --> 00:31:07,164
♪ What a mighty good man ♪
What is that?
749
00:31:07,156 --> 00:31:08,616
Chairman of NASDAQ.
750
00:31:08,617 --> 00:31:09,787
What is that?
751
00:31:09,788 --> 00:31:12,198
How could I be chairman?
I never heard of --
752
00:31:12,201 --> 00:31:13,911
We found out yesterday.
We wanted to keep it a surprise.
753
00:31:13,913 --> 00:31:16,213
Maybe have a party.
Got it all together.
754
00:31:16,205 --> 00:31:18,625
-Congratulations.
-Congratulations, Dad.
755
00:31:18,627 --> 00:31:20,667
-Oh, man.
-Confetti all over the place.
756
00:31:20,669 --> 00:31:21,879
BERNIE: This is great.
757
00:31:21,880 --> 00:31:23,710
I'm so proud of you,
sweetheart.
758
00:31:23,712 --> 00:31:25,882
God, I always knew.
I knew this was your destiny.
759
00:31:25,884 --> 00:31:28,144
Mm.
Mm.
760
00:31:28,137 --> 00:31:29,557
♪ I got a good man ♪
761
00:31:29,558 --> 00:31:30,968
♪ What a man,
what a man, what a man ♪
762
00:31:30,970 --> 00:31:32,390
♪ What a mighty good man ♪
763
00:31:32,391 --> 00:31:34,561
♪ Uh,
a mighty, mighty good man ♪
764
00:31:34,563 --> 00:31:36,283
♪ What a man,
what a man, what a man ♪
765
00:31:36,275 --> 00:31:37,975
♪ What a mighty good man ♪
766
00:31:37,977 --> 00:31:40,017
♪ Yes, he is ♪
767
00:31:40,019 --> 00:31:41,979
♪ What a man,
what a man, what a man ♪
768
00:31:41,981 --> 00:31:43,281
♪ What a mighty good man ♪
769
00:31:43,282 --> 00:31:45,022
♪ What a mighty good man ♪
770
00:31:45,024 --> 00:31:47,334
♪ Ooh, what a man,
what a man, what a man ♪
771
00:31:47,326 --> 00:31:48,946
♪ What a mighty good man ♪
772
00:31:48,948 --> 00:31:52,738
♪ He's a mighty,
mighty good man, y'all ♪
773
00:31:52,741 --> 00:31:54,491
♪ Unh ♪
774
00:31:54,493 --> 00:31:57,843
♪ What a mighty,
mighty good man, y'all ♪
775
00:31:57,836 --> 00:31:59,836
♪ Yeah ♪
776
00:31:59,838 --> 00:32:01,628
♪ What a mighty good man ♪
777
00:32:01,630 --> 00:32:03,710
♪ Ooh ♪
778
00:32:03,712 --> 00:32:06,512
♪ Yeah ♪
779
00:32:06,505 --> 00:32:09,465
From a back room
in my father-in-law's office
780
00:32:09,468 --> 00:32:11,718
to chairman of NASDAQ,
781
00:32:11,720 --> 00:32:15,550
the second-largest exchange
in the world.
782
00:32:15,554 --> 00:32:17,864
A high watermark.
You better believe it.
783
00:32:17,856 --> 00:32:20,186
A position like that?
784
00:32:20,189 --> 00:32:22,649
I'd never have
to sell myself again.
785
00:32:22,651 --> 00:32:25,111
The title would do it for me.
786
00:32:26,025 --> 00:32:27,115
BERNIE: Yeah.
787
00:32:30,329 --> 00:32:32,529
No, no. No.
Bernie?
788
00:32:32,531 --> 00:32:34,031
I got to go.
789
00:32:34,033 --> 00:32:36,463
One more thing
about closing a deal --
790
00:32:36,455 --> 00:32:38,915
Always save your best play
for last.
791
00:32:38,917 --> 00:32:40,497
Well...
792
00:32:40,499 --> 00:32:43,039
everything we've looked at
looks good.
793
00:32:43,042 --> 00:32:46,852
But there's no mention in here
about the 2 in 20 split.
794
00:32:46,845 --> 00:32:49,965
There's no -- no mention
about the management fee at all.
795
00:32:49,968 --> 00:32:52,258
That's right.
796
00:32:52,261 --> 00:32:54,471
Well, what do you mean,
"that's right"? [ Chuckles ]
797
00:32:54,473 --> 00:32:57,693
Even if you want to go 50-50,
it needs to be in writing.
798
00:32:57,686 --> 00:33:00,016
[ Chuckles ] No.
No.
799
00:33:00,019 --> 00:33:02,359
We're not gonna go 50-50.
800
00:33:03,812 --> 00:33:05,482
[ Exhales sharply ]
801
00:33:05,484 --> 00:33:08,074
Well, then, uh, we need to go
back to the negotiating table,
802
00:33:08,067 --> 00:33:09,947
get the lawyers to draw up
entirely new contracts,
803
00:33:09,948 --> 00:33:11,738
start from scratch.
804
00:33:11,740 --> 00:33:14,610
You know, I don't think you
really want to do that, Jeremy.
805
00:33:14,613 --> 00:33:15,743
[ Chuckles ]
806
00:33:15,744 --> 00:33:17,384
Oh, yeah?
807
00:33:17,376 --> 00:33:19,246
Tell me -- Why's that?
808
00:33:19,248 --> 00:33:22,118
Because we don't take
any fees.
809
00:33:22,121 --> 00:33:24,421
We make our money
on the trades.
810
00:33:24,423 --> 00:33:26,473
The management fees
are all yours.
811
00:33:26,465 --> 00:33:28,045
I thought
you understood that.
812
00:33:32,631 --> 00:33:34,341
[ Laughs ]
813
00:33:37,726 --> 00:33:40,686
So, uh...
814
00:33:40,689 --> 00:33:44,139
I suppose we should talk
about the initial buy-in.
815
00:33:44,143 --> 00:33:46,243
The gold standard
in seduction --
816
00:33:46,235 --> 00:33:47,735
the moment your client
817
00:33:47,736 --> 00:33:51,066
starts to think he's the one
getting one over on you.
818
00:33:51,070 --> 00:33:53,530
Did he really just...
Yes.
819
00:33:53,532 --> 00:33:55,822
But why wouldn't he...
Jeremy.
820
00:33:55,824 --> 00:33:57,464
The best thing
that will ever happen to us
821
00:33:57,456 --> 00:34:00,116
in our whole lives
just happened.
822
00:34:00,119 --> 00:34:02,459
Do you really want
to ruin it?
823
00:34:02,461 --> 00:34:04,831
After that,
you couldn't stop them
824
00:34:04,833 --> 00:34:07,303
from giving you their money
if you tried.
825
00:34:07,296 --> 00:34:09,876
Once word got out
that Bernie Madoff
826
00:34:09,878 --> 00:34:12,218
would deliver
your hedge-fund returns
827
00:34:12,221 --> 00:34:15,221
without taking a penny of fees
for himself...
828
00:34:15,224 --> 00:34:17,984
My name is Rene-Thierry Magon
De La Villehuchet,
829
00:34:17,976 --> 00:34:20,596
and I have been looking forward
very much to this day.
830
00:34:20,599 --> 00:34:22,139
Thank you so much.
831
00:34:22,141 --> 00:34:25,271
And we will be in touch,
and we will visit.
832
00:34:25,274 --> 00:34:26,654
[ Speaks French ]
833
00:34:26,645 --> 00:34:28,445
Thank you.
Ah. Ah.
Adieu.
834
00:34:28,447 --> 00:34:30,737
Greg Perkins.
Great to meet you, Bernie.
835
00:34:36,785 --> 00:34:38,695
You're not gonna
regret this.
836
00:34:38,697 --> 00:34:40,407
Neither am I.
837
00:34:41,870 --> 00:34:43,750
Vera Zweig.
838
00:34:43,752 --> 00:34:46,172
A great pleasure to meet you,
Mr. Madoff.
839
00:34:47,756 --> 00:34:51,296
Excellent.
840
00:34:51,300 --> 00:34:52,510
Ja.
841
00:34:54,883 --> 00:35:01,103
$10,006,442,853.64.
842
00:35:01,099 --> 00:35:03,559
Total cash in hand
as of 9:00 a.m. this morning.
843
00:35:06,225 --> 00:35:08,145
$10 billion.
844
00:35:10,489 --> 00:35:14,529
Not bad for a poor Jewish kid
from Queens.
845
00:35:14,533 --> 00:35:15,573
FRANK: Oh, come on.
846
00:35:15,574 --> 00:35:17,124
[ Laughs ]
847
00:35:26,335 --> 00:35:27,335
[ Knock on door ]
848
00:35:27,336 --> 00:35:28,336
ALAN: Got a minute?
849
00:35:28,337 --> 00:35:29,747
No, I do not.
850
00:35:29,748 --> 00:35:31,128
You're a math guy.
851
00:35:31,129 --> 00:35:33,169
A math guy?
852
00:35:33,172 --> 00:35:34,712
How much of a math guy?
853
00:35:34,713 --> 00:35:40,183
I have a pretty thorough
grounding in calculus,
854
00:35:40,179 --> 00:35:43,349
from integral
to differential,
855
00:35:43,352 --> 00:35:46,902
plus linear algebra
and statistics --
856
00:35:46,895 --> 00:35:48,855
both normal and non-normal.
857
00:35:48,857 --> 00:35:51,147
Yes, I suppose
you could call me a math guy.
858
00:35:51,149 --> 00:35:53,229
Take a look at this.
859
00:35:53,232 --> 00:35:55,572
What is that?
A prospectus.
860
00:35:55,574 --> 00:35:57,244
Don't ask me where I got it.
Where did you get it?
861
00:35:57,236 --> 00:35:58,696
Harry, have you ever heard
of Bernie Madoff?
862
00:35:58,697 --> 00:36:00,277
Private fund, right?
863
00:36:00,279 --> 00:36:02,869
Consistent returns
year in, year out.
864
00:36:02,871 --> 00:36:04,411
We need to do
what he's doing.
865
00:36:04,413 --> 00:36:05,453
I need you to reverse --
866
00:36:05,454 --> 00:36:07,214
Reverse-engineer
his trading strategy.
867
00:36:07,206 --> 00:36:09,416
See if we get his results.
868
00:36:09,418 --> 00:36:10,918
That's right, Harry.
869
00:36:10,919 --> 00:36:12,249
And have a good night.
870
00:36:16,925 --> 00:36:19,845
♪♪
871
00:36:19,848 --> 00:36:20,928
[ Breathes deeply ]
872
00:36:28,397 --> 00:36:32,227
You're holding in your hands
an exact replica
873
00:36:32,231 --> 00:36:36,111
of a 1965
Aston Martin Volante.
874
00:36:36,114 --> 00:36:38,124
Only 37 of them
ever made.
875
00:36:38,116 --> 00:36:39,656
Two remain
in the United States.
876
00:36:39,658 --> 00:36:40,778
Hmm.
It's beautiful.
877
00:36:40,779 --> 00:36:42,369
Roger gave it to me
for Father's Day.
878
00:36:42,371 --> 00:36:44,321
I'd been hoping
for a big one.
879
00:36:44,323 --> 00:36:45,413
[ Laughs ]
880
00:36:45,414 --> 00:36:46,594
I was happy
to have the model.
881
00:36:46,585 --> 00:36:48,125
Hey.
882
00:36:48,126 --> 00:36:49,536
I need you
to sign some things.
883
00:36:49,538 --> 00:36:51,378
[ Door closes ]
884
00:36:51,380 --> 00:36:53,210
Hello, to you, too,
Frank.
885
00:36:53,211 --> 00:36:54,421
It's not a good time.
886
00:36:54,423 --> 00:36:56,133
It'll just take you
five minutes.
887
00:36:56,134 --> 00:36:57,474
Just a set of filings
888
00:36:57,466 --> 00:36:59,596
for some accounts
that didn't get processed right.
889
00:36:59,598 --> 00:37:01,598
Okay, Frank.
890
00:37:01,600 --> 00:37:03,140
I'll, uh...
891
00:37:03,141 --> 00:37:04,971
I'll look them over,
and I'll get back to you.
892
00:37:04,973 --> 00:37:06,523
There's no time for that.
893
00:37:06,515 --> 00:37:09,105
I just need your Chief
Compliance Officer rubber stamp.
894
00:37:09,107 --> 00:37:11,557
He said
he'll get back to you, Frank.
895
00:37:11,560 --> 00:37:13,230
So...
896
00:37:15,654 --> 00:37:17,364
Okay, Mark.
897
00:37:18,857 --> 00:37:21,857
Vroom, vroom.
898
00:37:21,860 --> 00:37:24,570
Very nice.
899
00:37:28,627 --> 00:37:32,167
I was now moving
in the highest class of people.
900
00:37:32,170 --> 00:37:38,760
Like Elie Wiesel -- Holocaust
survivor, Nobel Laureate.
901
00:37:38,757 --> 00:37:40,677
It is the twinge we feel
902
00:37:40,679 --> 00:37:43,589
when we go against
our conscience.
903
00:37:43,592 --> 00:37:46,982
This is a gift
given to most of us --
904
00:37:46,975 --> 00:37:48,805
the knowledge of wrong.
905
00:37:48,807 --> 00:37:52,387
And perhaps merely listening
to those feelings of guilt
906
00:37:52,391 --> 00:37:55,941
is the secret
to living an ethical life.
907
00:37:55,944 --> 00:38:00,324
Perhaps, in the end,
it's as easy as that.
908
00:38:00,319 --> 00:38:02,029
[ Light laughter,
crowd murmuring ]
909
00:38:02,030 --> 00:38:03,780
[ Applause ]
910
00:38:05,744 --> 00:38:07,374
Thank you.
911
00:38:07,366 --> 00:38:10,036
For me,
it's the market volatility
912
00:38:10,038 --> 00:38:11,788
that always scares me off.
913
00:38:11,790 --> 00:38:13,120
RUTH:
Well, of course.
914
00:38:13,121 --> 00:38:15,251
You don't know
how the system works,
915
00:38:15,253 --> 00:38:17,553
and then you're going to entrust
everything you've worked for
916
00:38:17,546 --> 00:38:19,086
to it?
Exactly.
917
00:38:19,087 --> 00:38:20,627
I'll tell you the truth,
Elie.
918
00:38:20,629 --> 00:38:22,799
The fact is that if you're
in the market for real,
919
00:38:22,801 --> 00:38:26,261
you don't have to look at it
on a daily basis, you know?
920
00:38:26,264 --> 00:38:27,814
It goes up 300,
it goes down 300.
921
00:38:27,806 --> 00:38:29,186
It really doesn't matter.
922
00:38:29,187 --> 00:38:31,267
What you got
to think about is,
923
00:38:31,269 --> 00:38:34,889
are you in, and do you trust the
general health of the markets?
924
00:38:34,893 --> 00:38:36,143
Then you'll be fine.
925
00:38:36,144 --> 00:38:37,324
You're gonna do okay.
926
00:38:37,315 --> 00:38:39,355
It -- It would
certainly be an honor
927
00:38:39,358 --> 00:38:41,238
to help you
in any way we could.
928
00:38:41,239 --> 00:38:42,739
Our whole family
would be so honored.
929
00:38:42,741 --> 00:38:43,941
Absolutely.
930
00:38:43,942 --> 00:38:45,902
Elie Wiesel,
virtuous humanitarian.
931
00:38:45,904 --> 00:38:48,374
Didn't stop me for a second
from taking his money.
932
00:38:48,367 --> 00:38:49,747
It's not as though
I'm gonna sit here
933
00:38:49,748 --> 00:38:51,618
and tell you that you
can't live without me.
934
00:38:51,620 --> 00:38:54,330
You know, you've done very well
with the guy you're with,
935
00:38:54,332 --> 00:38:56,592
so maybe
you just want to stay put.
936
00:38:56,585 --> 00:38:57,955
[ Chuckles ]
937
00:38:57,956 --> 00:39:00,796
Well, imagine
if I lost your money.
938
00:39:00,799 --> 00:39:02,669
I wouldn't be invited
to any bar mitzvah
939
00:39:02,671 --> 00:39:03,841
in the city of New York.
940
00:39:06,595 --> 00:39:08,595
You are Bernie Madoff.
941
00:39:08,597 --> 00:39:09,847
Yes, I am.
942
00:39:09,848 --> 00:39:12,098
Sheryl Weinstein.
943
00:39:12,100 --> 00:39:14,850
C.F.O. of Hadassah,
the women's organization.
944
00:39:14,853 --> 00:39:16,653
I am familiar
with Hadassah.
945
00:39:16,645 --> 00:39:18,065
Good.
946
00:39:18,066 --> 00:39:19,856
Probably looks like
I'm stalking you --
947
00:39:19,858 --> 00:39:22,398
waiting for you outside
the bathroom like this.
948
00:39:22,401 --> 00:39:25,191
Well, actually,
until you said that,
949
00:39:25,193 --> 00:39:26,363
I would have just thought
950
00:39:26,364 --> 00:39:28,494
that you were waiting
for the bathroom.
951
00:39:28,487 --> 00:39:30,247
Damn.
952
00:39:30,248 --> 00:39:33,158
I just blew my own cover,
right?
953
00:39:33,161 --> 00:39:34,951
Listen...
954
00:39:34,953 --> 00:39:37,503
I'm glad
you have Hadassah as a client.
955
00:39:37,496 --> 00:39:41,256
I, uh -- I know you
don't take on just anybody.
956
00:39:41,259 --> 00:39:44,629
But I would love a chance
to talk to you about our goals.
957
00:39:44,633 --> 00:39:46,973
Well, Sheryl, um...
958
00:39:46,965 --> 00:39:48,845
I have
an idea about charities.
959
00:39:48,847 --> 00:39:51,307
It's not about the size.
960
00:39:51,309 --> 00:39:54,139
It's about
the people behind them.
961
00:39:54,142 --> 00:39:57,022
So, uh...
962
00:39:57,015 --> 00:39:59,605
why don't you call my office,
and we'll set something up?
963
00:40:02,020 --> 00:40:03,480
RUTH:
Oh, here you are.
964
00:40:03,482 --> 00:40:04,902
Ira's looking for you.
965
00:40:04,903 --> 00:40:09,793
He wants to introduce you to --
to some big cosmetics C.E.O.
966
00:40:09,788 --> 00:40:12,288
Ruth, this is, uh...
Sherry? Sheryl.
967
00:40:12,290 --> 00:40:13,790
Sheryl Weinstein.
968
00:40:13,792 --> 00:40:15,622
Sheryl Weinstein
from Hadassah.
[ Gasps ]
969
00:40:15,624 --> 00:40:17,344
Oh! Wonderful.
970
00:40:17,335 --> 00:40:20,295
You -- You ladies
do such good work.
971
00:40:20,298 --> 00:40:21,538
[ Laughs ]
Thank you.
972
00:40:21,540 --> 00:40:23,540
Bern,
back in the saddle.
973
00:40:23,542 --> 00:40:24,712
Yeah.
974
00:40:26,384 --> 00:40:28,894
♪♪
975
00:40:36,645 --> 00:40:38,855
[ Applause ]
976
00:40:41,900 --> 00:40:44,860
BERNIE:
Good evening, and welcome
977
00:40:44,863 --> 00:40:49,783
to the fourth annual Madoff
Family Foundation Fund-raiser.
978
00:40:49,778 --> 00:40:54,158
As Chairman of NASDAQ, I am
grateful for you to be here.
979
00:40:54,162 --> 00:40:56,412
Those of you
who are here tonight
980
00:40:56,414 --> 00:40:59,384
know already
that you are the recipients
981
00:40:59,377 --> 00:41:02,837
of an enormous,
almost miraculous, growth
982
00:41:02,841 --> 00:41:04,461
in personal wealth.
983
00:41:04,462 --> 00:41:07,472
Technology and innovation
have allowed us
984
00:41:07,465 --> 00:41:10,045
to receive an amount of wealth
985
00:41:10,048 --> 00:41:14,008
that our parents could not
possibly even have dreamt of.
986
00:41:15,183 --> 00:41:18,153
But there are still far too many
987
00:41:18,146 --> 00:41:21,896
who have not been
the recipients of such wealth.
988
00:41:21,900 --> 00:41:24,360
They have neither the money
nor the benefits
989
00:41:24,362 --> 00:41:26,152
that wealth can bring.
990
00:41:26,154 --> 00:41:28,414
So, why do we give?
991
00:41:28,406 --> 00:41:31,026
Because we believe
in this system
992
00:41:31,029 --> 00:41:34,159
that is perfected
by the act of giving.
993
00:41:34,162 --> 00:41:35,242
Why do we give?
994
00:41:35,243 --> 00:41:36,453
Do you know
how he does it?
995
00:41:36,454 --> 00:41:37,924
You figured it out
in one night?
996
00:41:37,916 --> 00:41:40,246
Because it feels good.
997
00:41:40,248 --> 00:41:42,248
Madoff. You want
to know how he does it?
998
00:41:42,250 --> 00:41:42,960
Yes.
999
00:41:42,961 --> 00:41:44,581
Why do we give?
1000
00:41:44,583 --> 00:41:45,253
He doesn't.
1001
00:41:46,084 --> 00:41:48,394
Because we care.
1002
00:41:48,386 --> 00:41:49,836
It's a fraud.
1003
00:41:49,838 --> 00:41:51,838
♪♪
1004
00:41:53,511 --> 00:41:56,301
♪♪
71495
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