The Wizard of Lies

I've saw a lot of reviews that is saying the movie doesn't have character driven, it's boring, no thriller, and etc. Well, of course the movie won't be anything exciting as this is a docdrama. This movie was made for people needing to remember when investing their money or being responsible with other people's money and not committing the crime of fraud.

The actors portray their characters are just fine and might say right down to their appearance. The story starts just when Madoff revealed to the whole family that his investment was a ponzi scheme and also the gradual downfall of both his son. And shows the impact of how one man completely destroyed not his family, but thousands of business, and decimated the people who trusted him. Given that Madoff was a household name for anything the economy, this is something the boomers, GenX, millennials need to learn when especially investing their money.

Just a side note, this movie was made in 2017 so this covers both Mark sad death where he couldn't take it and Andrew dying from cancer. Madoff and his sister died around 2022.

If you're going to watch this movie, keep an open mind and don't expect to be on the edge of your seat, this isn't an entertainment movie, but a document of what this man did to his family and the people who trusted him.

I was somewhat surprised by this biopic, since I'm well-acquainted with the modern Ponzi scheme story and the $65 Billion ripoff committed at the private investment firm. But even for those familiar with the general story, the documentary film provides a fascinating portrait of the Madoff family and the key characters. Overall it reminds me of an epic Greek tragedy.

The principal crime committed by Bernie Madoff is clearcut. Officially, Madoff run a phenomenal hedge fund, but in reality it was just one big hoax and pyramid investment scheme. All ROIs were fictitious and existing investors were paid by the money provided by subsequent investors. Aside from defrauding rich individuals of European royalty, Madoff took advantage of the fact that he as a jewish investor had excellent contacts to other wealthy American jews, which allowed him to swindle countless of the latter of all their retirement savings. All in all, in the end it led to countless tragedies and suicides on both continents.

The financial thriller behind it has been well-told by previous accounts, particularly 'No One Would Listen' by Harry Markopolos (i.e. the financial analyst struggled to expose the fraud for many years). It's also true that the ramifications would have been much more limited if the SEC would have done their job properly.

However, what this biopic does is following Bernie Madoff and the effects of the exposure on his own family, i.e. particularly his wife Ruth and his two adult sons. It seems as his family was completely unaware of the fraud and the movie does a good job in explaining how his sons never got the information from their dominating father. Later, when it all blew up the fraud also wreaked havoc on the lives of his wife and sons.

In the end, it was all for nothing. The family members would lived longer and happier lives without massive fraud committed by the Bernard. While the portrait of him is by no means completely unsympathetic, he remains seemingly oblivious even to this day to the devastation he caused in so many lives, including to those nearest to him.

The main roles played by Robert de Niro and Michelle Pfeiffer are brilliant, but also the less-known actors playing his two sons.

An interesting attempt to weave a story line on the Madoff ponzi scheme but one that in the end is disjoint, incomplete, and largely unsatisfying. It certainly falls far short of other great financial movies – the Big Short, Margin Call, and Smartest Guys in the Room, to name a few. Worth watching but not likely a movie to savor, add closure, provide moral assurance, or make you feel anything. Too many moving pieces that lack grounding – the timeline has no center and the flashbacks and jumps forward are too disjoint, too many supporting characters are painted as morally ambiguous, and the many defrauded clients are nameless and faceless.

As for the some of the details, it's hard to get around Michelle Pfeiffer accent. It may be spot-on but the voice is just annoying. Add in Robert De Niro's unbalanced intonations and a discordant soundtrack and sound-editing and it is not a movie that will sit well with your ears.

It should have been done as a 3-4 part mini-series. They would have had a lot more time to not only relay the full time line and details of the case but also go into the many interesting sub-stories and tragedies. For example, the efforts of Harry Markopolos to unmask the fraud is addressed only by showing Bernie and Ruth watching 30 seconds of testimony on the TV in their condo. The questions of the hundreds of millions potentially transferred to London accounts for the benefit of Madoff relatives is not explored. The ineptitude of the SEC, FINRA and other agencies is also given short-shrift. Did you know that Shana Madoff, the chief compliance officer and niece of Bernie Madoff, married an Assistant Director of the Office of Compliance Investigations and Examinations at the SEC. They met in 2003 when he was performing an examination as to whether Madoff was running a Ponzi scheme. The SEC Director of Compliance Investigations and Examinations attended their wedding in 2007.

As it is, the movie dips its toe into the $64.8B (yes $64.8 billion) fraud case and provides some insights as to who in the inner circle may or may not have been culpable– all in the course largely telling a family drama. Interesting and entertaining, yes. A good film, meh. Disappointing for what it could have been, most definitely.

Some reviews argue that it should have been a mini series but I argue the opposite, this is perfection! To add would only dilute it. Yes, your left pleading for more but that's not because it's left unsatisfactory. No, it's because during the entire film, you're absolutely riveted and captivated! People, this is Barry Levinsons film, headed by De Niro and Michelle Pheifer! Levinson is a genius at his craft as are the formers. This film is bleak and at times depressing but I promise you never for a second not so engaged in it! De Niro becomes Madoff physically even the way he walks. The cast is incredible. Finally De Niro immersed himself into a character that can portray his craft. This is one vehicle, the cast-directing-editing, that sums up to make a masterpiece! This is by far the most captivating, engaging, riveting movie I've seen this year by far! Do yourself a favor and watch this immediately!

I wanted more, more of how Bernie Madoff became the man we meet in this film. When we meet him he is already rotten. He is mere months away from his arrest.

There is in Robert DeNiro's portrayal little or nothing to like or empathize with. Or care about. What we have is a true sociopath who is found out early in the film, which forces us to see nothing but the devastation left in his wake.

This is my way of saying there is no story arc. There are no surprises. What flashbacks there are show Madoff in his personal life but always at his worst.

Michelle Pheiffer as Madoff's wife has a small rand unconvincing role. And like her husband, I couldn't care less about her fate. As for the Madoff sons, to some degree this is more their story than anyone else's. And to the degree that I learned quite a bit about them, the film deserves credit.

But that is not enough to warrant its viewing.