Bernie Madoff died a couple of months ago this year. His name and misdeed is just an event in a long list of financial scamsters over the ages – past, present and future.
One present scam uncovered recently is committed by a Pakistani Billionaire, Arif Naqvi who defrauded Bill Gates among many other high end people. There is a book out on this and one can read about his “exploits” here.
There is a saying by Aristotle – “Youth is easily deceived because it is quick to hope.” As far as Finance is concerned, it seems, this “youth” is prevalent irrespective of age and experience. It won’t be false to guess that we are all living among some unidentified scams in our midst, waiting for it to uncover.
The movie “The Wizard of Lies” has not much to show how the scam occured. The movie begins with the scam already done and dusted. Only the fall out is left. It’s a human predicament story. Except one character, Bernie Madoff, the rest are shown in the dark about the details of the scam but considered equally liable for the crime. The most poignant part in the story was when Madoff’s eldest son commits suicide. The second son later died of cancer. Madoff’s wife had to downgrade her living.
The movie is watchable because of two great stars – Robert de Niro and Michelle Pfeiffer – who keep the audience engaged through their restrained performances for little over two hours long movie. There is not much melodrama and sob-stories. Just matter of fact conversations interlaced with some back stories on how the scam came about in short and wrong steps.
One other actor who leaves his mark on the movie is Hank Azaria. In a role of Bernie Madoff’s hatchet man he complements De Niro and adds a lot to the scene value. In a mostly sedate rhythm of the movie, Hank’s character enlivens the screen and has an impactful edge in the story.
The movie does have some undertones of rationalization and an attempt to show that the family of Bernie Madoff also suffered. But after all is said and done, for thousands of people whose savings were wiped out, there won’t be any consolation. The movie and the reality also shows (and shows time after time) that, not only the individuals scams the system but the law enforcement agencies remain docile till the scam blows on everyone’s faces. History shows – Only the Law Enforcers had survived.