history. For decades he ran a Ponzi scheme from a secret office in New York, duping thousands of investors out of billions of dollars. Many of them lost everything when the house of cards fell. How did Madoff pull it off? And what steps have regulators taken in the past decade to ensure that it doesn’t happen again? For this week’s episode, we teamed up with Steve Fishman, a reporter based in New York City who’s followed the story for years. He produced and hosted a seven-part podcast for Audible called “Ponzi Supernova.”Through interviews with financial experts, federal agents, Madoff’s cellmates and Madoff himself, Fishman explains how the $60 billion con worked, and why Madoff was able to elude regulators for decades. Fishman says that while Madoff was the mastermind of the scheme, it was banks and other financial institutions who “weaponized” him, turning him from a “local swindler” into an unstoppable force. Madoff will spend the rest of his life in prison, but no one from these institutions faced similar consequences. And even though some precautions have been put in place since Madoff’s arrest, financial experts warn that for the most part, investors are still on their own.
May 07, 2021
Why Police Reform Fails on REVEAL – Saturday at 8am
St. Louis was an epicenter for police reform efforts. But most have failed. Now, six years after Ferguson, city leaders are trying something new. (Photo: Activist Brittany Ferrell and others march through the streets of St. Louis while protesting the police shooting death of 18-year-old Michael…