Download the free Kindle app and start reading Kindle books instantly on your smartphone, tablet or computer – no Kindle device required. Learn more
Read instantly on your browser with Kindle for Web.
Using your mobile phone camera - scan the code below and download the Kindle app.
Wizard of Lies, The: Bernie Madoff and the Death of Trust Hardcover – 8 Aug. 2011
- Print length448 pages
- LanguageEnglish
- PublisherHenry Holt
- Publication date8 Aug. 2011
- Dimensions16.05 x 2.72 x 23.5 cm
- ISBN-109780805091342
- ISBN-13978-0805091342
Customers who viewed this item also viewed
Product description
About the Author
Product details
- ASIN : 0805091343
- Publisher : Henry Holt (8 Aug. 2011)
- Language : English
- Hardcover : 448 pages
- ISBN-10 : 9780805091342
- ISBN-13 : 978-0805091342
- Dimensions : 16.05 x 2.72 x 23.5 cm
- Best Sellers Rank: 929,352 in Books (See Top 100 in Books)
- 896 in Finance & Stock Market History
- 1,834 in Company Histories
- 5,162 in Biographies about Artists, Architects & Photographers
- Customer reviews:
About the author

Diana B. Henriques, an award-winning financial journalist, is the author of six books, most recently "Taming the Street: The Old Guard, the New Deal, and FDR's Fight to Regulate American Capitalism," due out in September from Random House. Her previous books include "A First-Class Catastrophe: The Road to Black Monday, the Worst Day in Wall Street History," released in September 2017, and "The Wizard of Lies: Bernie Madoff and the Death of Trust," a New York Times bestseller that was adapted by HBO as a 2017 film starring Robert De Niro - with Ms. Henriques playing herself as the first journalist to interview Madoff in prison. She was recently featured in the widely-viewed Netflix series "Madoff: The Monster of Wall Street," produced by Radical Media.
As a staff writer for The New York Times from 1989 to 2012 and as a contributing writer since then, she has largely specialized in investigative reporting on white-collar crime, market regulation and corporate governance.
An avid reader and reviewer of financial histories, Ms. Henriques is also the author of "Fidelity’s World: The Secret Life and Public Power of the Mutual Fund Giant" (1995), "The White Sharks of Wall Street: Thomas Mellon Evans and The Original Corporate Raiders" (2000), and "The Machinery of Greed: Public Authority Abuse and What To Do About It" (1986).
Ms. Henriques was a member of a reporting team that was named a Pulitzer finalist in 2003 for its coverage of the aftermath of the Enron scandals. She was also a member of a team that won a 1999 Gerald Loeb Award for covering the near-collapse of Long Term Capital Management, a hedge fund whose troubles rocked the financial markets in September 1998.
She was one of four reporters honored in 1996 by the Deadline Club, the New York City chapter of the Sigma Delta Chi professional journalism society, for a series on how wealthy Americans legally sidestep taxes. She has explored the expansion of tax breaks, regulatory exemptions and Congressional earmarks for religious nonprofits, and helped monitor commodity markets and money market funds in the financial turmoil of late 2008.
After the terrorist attacks of Sept. 11, Ms. Henriques widened her focus to work with her colleague at The Times, David Barstow, in covering the management of billions of dollars in charity and victim assistance as part of the paper’s award-winning section, “A Nation Challenged.” She also chronicled the fate of Cantor Fitzgerald, the Wall Street firm that suffered the largest death toll in the World Trade Center attacks.
But she is proudest of her 2004 series exposing the exploitation of American military personnel by financial service companies. Her work prompted legislative reform and cash reimbursements for tens of thousands of defrauded service members, drawing recognition and thanks from military lawyers and families across the country. For that series, she was a Pulitzer finalist in 2005 and received a George Polk Award, Harvard’s Goldsmith Prize for Investigative Reporting and the Worth Bingham Prize.
Born in Texas but raised mostly in Roanoke, Va., Ms. Henriques is a Phi Beta Kappa graduate of what is now the Elliott School of International Affairs at the George Washington University in Washington. While a student there, she met and, in 1969, married her husband Larry. They live in Hoboken, N.J. Since an injury in late 1997, Ms. Henriques has used voice-recognition software for all her major writing projects and has coached more than a dozen injured writers at other publications on making the transition to voice-recognition writing.
Ms. Henriques was awarded a Ferris professorship in writing at Princeton University for the 2012-2013 academic year, and is a frequent guest lecturer for business journalism classes and workshops elsewhere. From 2003 to 2016, she served on the board of governors of the Society of American Business Editors and Writers (SABEW), and in 2011, she was elected to the board of trustees of The George Washington University in Washington, D.C., on which she served for eight years.
Customer reviews
Customer Reviews, including Product Star Ratings, help customers to learn more about the product and decide whether it is the right product for them.
To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. It also analyses reviews to verify trustworthiness.
Learn more how customers reviews work on Amazon-
Top reviews
Top reviews from United Kingdom
There was a problem filtering reviews right now. Please try again later.
He swears to tell the truth, but reveals nothing." -- Proverbs 29:24 (NKJV)
Veteran financial journalist Diana Henriques does a masterful job of providing a play-by-play account of those involved in the Madoff mess. I found that most of my unanswered questions were well covered here . . . as much as can be the case when dealing with world-champion liars and thieves.
Those who trust in Wall Street will find much food for thought here. I was delighted when Ms. Henriques pointed out in the book that another Ponzi scheme is undoubtedly already out there, lulling the inattentive into a false sense of security while siphoning off their money. Unfortunately, one potential use of this book is to make a Ponzi scheme work better. I pray that no one will use it that way. But you never know.
Naturally, a lot of people have much to hide . . . and others want to avoid extreme embarrassment. So a lot of the details may never be known.
It added a lot to the story to learn about Madoff's life behind bars and how the asset recovery program has been conducted.
Ultimately, it's the horrible human cost of such a crime that makes it so terrible. When someone does this kind of crime, there will be a lot of blood on his or her hands.
Be careful!
Diana Henriques has given us a unique perspective into the life of Bernie Madoff. She explores his business acumen, and the start of his world wide Ponzi scheme. She also explores his personal life and that of his family and those who worked for him. We are given a glance into the world of the wealthy and powerful and ultimately Madoff's world built on lies. How this world has come to destroy many lives and, in particular, those of his family is fully explored. I am not a denizen of Wall Street, nor someone who fully understands the intricacies of this life and business. Diana Henriques writes in terms that are easily understandble. The glimpse of the secret world of business is fascinating, and the personal side of Bernie Madoff is exquisitley told.
Diana Henriques was the first journalist allowed to visit and interview Bernie Madoff. She is not sure why, but suspects from one of Madoff's conversations, that he respected her as the senior business journalist of the New York Times. He felt her inerviews were fair and well balanced. She visited Bernie Madoff in his prison in North Carolina. It was a stark and common room in which she held her interview. Bernie Madoff was dressed in prison clothes with a sharp crease the first time she met him, and she was allowed to ask most any question. Madoff's lawyer was present at all times.
The second time she met Madoff, was a few months after his son's suicide, and she could see an abrupt difference in the man. He was very thin, his face haggard, and his clothes unkempt. It was obvious he had no idea what his fraud had cost his family, and what it continues to cost the thousands of people whose money he stole. But, his son's suicide gave him an idea of the devastating cost his actions caused.
In the book, Madoff says, "Somehow [at first], I assumed it would work out," returning to his explanation of why he started to steal from his big institutional clients. "That's when I started taking money in from all of those hedge funds. And I said, `Well, I'll just get myself out of a hole.'" But he couldn't. "I got trapped in this hole. I never set out to just steal money," he says. But he was stealing money; he was running an enormous inescapable Ponzi scheme. If he didn't plan to kill himself or go into hiding, how did he think it would end? "It was almost like--it sounds horrible to say it now, but I just wanted the world to come to an end." He pauses, glances at his lawyer, and shrugs. It does sound horrible to say it, but he continues, struggling to explain. "When 9/11 happened," he went on, "I thought that would be the only way out--the world would come to an end, and I'd be dead and everyone would be gone." The man was deluding himself, with no introspective measures to keep himself in check.
"No doubt that is how Bernie Madoff lived with his crime every day. He did not see any "victims" he saw only "beneficiaries." It's easy to see how seductive that would be. Who has not fantasized about winning the lottery and playing God by giving vast sums away--the delicious rush, the sense of joyful power that this would produce? Until the end, there was only the possibility that, someday, others would be hurt.", says Diana Henriques. She is very reluctant to believe all of Madoff's assertions that his Ponzi scheme did not start until 1992, and she does not believe that many people on Wall Street and beyond did not know or suspect what Madoff was up to. The SEC investigated Madoff several times, and each time they questioned Madoff and seemed to believe him, and not the data in front of them. Bernie Madoff used to express this opinion about anyone. "I told everyone, `Don't put more than half of your money with me--you don't know, I could go crazy.'" But he took their money anyway, and thousands of them were ignoring his sage advice and betting their entire family's future on their faith in him. As Diana Henriques says, "It became a bitter joke on Wall Street that the Madoff case proved there was no such thing as a "sophisticated investor."
Charles Ferguson tells us "We now know that during the years of Madoff's fraud, Congress and successive administrations had eviscerated the S.E.C., whose annual budget equals barely 5 per cent of Madoff's losses. Regulation of most derivatives was banned, a move that resulted in an opaque market that helped Mr. Madoff lie, enabled banks to profit from Mr. Madoff's funds without needing to invest in them, and set the stage for the financial crisis." Yes, we know this and what is being done? We are still awaiting an analysis that could right the wrong.
There are many more lawsuits to come, before we fully understand the damage and the yield of Madoff's Ponzi Scheme. Diana Henriques has given us an entry to the world of Bernie Madoff, and many reasonable explanations of the causes, and maybe a glimpse of two of the cures.
Highly Recommended. prisrob 06-05-11
The White Sharks of Wall Street: Thomas Mellon Evans and the Original Corporate Raiders (Lisa Drew Books)
Fidelity's World: The Secret Life and Public Power of the Mutual Fund Giant





