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Free Minds & Free Markets

The Wizard of Lies Focuses on Madoff’s Family, Not His Victims: New at Reason

As a result, interesting parts of the story get missed.

'The Wizard of Lies''The Wizard of Lies,' HBOTelevision critic Glenn Garvin watches HBO's The Wizard of Lies and feels as though some of the more interesting parts of the Bernie Madoff scandal have been ignored:

The $65 billion collapse of Madoff's smoke-and-mirrors trading empire in 2008 would seem to offer great dramatic potential. Unlike the largely faceless, institutional banking collapse around the same time that triggered the Great Recession, the Madoff scandal had an easily identifiable villain driven by evil intention rather than carelessness. And his betrayal was breathtakingly personal; the thousands of victims included most of his friends and even his in-laws. There was even a potential hero: Harry Markopolis, an investment officer at a rival firm who for a decade fruitlessly warned that Madoff's returns were too good to be true.

All these elements are present in Wizard, not to mention a marquee cast headed by Robert De Niro and Michelle Pfeiffer, with frequent Oscar nominee Barry Levinson producing and directing. Yet it all comes together with much more fizzle than sizzle.

Photo Credit: 'The Wizard of Lies,' HBO

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