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Madoff Victim: 'I'm Not Mad at Bernie'

Title:

Madoff Victim: 'I'm Not Mad at Bernie'

Published: Mon, 15 Dec 2008

Description: Levy on Madoff Scandal

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Automatically Generated Transcript (may not be 100% accurate)

" Profile victims of the fifteen billion dollar Ponzi scheme reads like a who's who -- Wall Street and Hollywood. More details come out after the Bernard made off arrests we have one of his alleged victims witness for a first on fox business interview Francis Levy is co director. Of the -- taking your city's center for the multi disciplinary study of the imagination god bless you thank you very much I'd bet -- easy tore me up at the New York psychoanalytic institute that's where how -- you imagine this at your back to -- The -- I could never have imagined this he's actually burning man up and actually spoken at at the Phillip paley center and he spoke about to stop trade and so forth and so on and so. What he was taught one of the things right after the fact was about long term capital I asked them about what happened in the long term capital situation and he was he actually said to -- betrayed if you looked at the trade themselves it's like a rubber band he was troubled algorithmic trading against a lot of financial person but it. I get this guy is fairly often though what you what we're finding out as the people that were trying to explain these convoluted schemes didn't know themselves exactly what was going on if you if you crack that not open. You realize there was nothing there at all I was I was trying to after so I was I was trying to ask."

" And things about it and hide the real the real truth of it -- you like non non you quit your job if you kind of I thought. Well this guys to advance me I really don't understand it but it sounded great and the fact that it sounded great was an incredible selling point not only that but the fact look I've known Bernie for many years in my father really well and he's somebody like. He was he's not a pretentious person -- hierarchical person or person who had a lot of money for you like you -- nobody. He was a pretty. My son went up to talk to him at one point about but stopped that word that you -- that that had value in that would not hurting the environment and Bernie talked -- about it I think you probably felt disdainful about the whole thing but it I don't know he interviewed him for something you -- go to school at you know all Francis have you been able to figure out how much the center has lost. We we haven't been that we we -- I'll just say that we've lost everything found about -- how much is enough we've lost."

" Everything in the center because the that we had a family foundation that was firm that -- that the the Norman at the -- to Betty and Norman F Levy foundation."

" Was the the -- of funding source for the Philippine center. They were full of fully vested in burning -- my father believed in burning man if he if he ever heard this today he'd be rolling in his grave because my father the one thing he said about Bernie if there's one honorable person it's burning."

" And you know I I I I'm not angry at him I don't o'clock."

" elite now I'm not -- this -- to have more psychoanalysis. I thought I but the fact -- like that there there are good people probably friends and viewers who've lost their fortune blow it again a lot of people that came into this we're we're billionaires -- feel much sympathy for them but when you have. People who had their entire fortune 5000003 million dollars tied up with this guy and they've lost that -- their -- what -- out of -- in terms of money and let me just painted it."

" Did the human effective something like this. -- And human hormones and they you know testosterone these -- with and then we have. Students like graduate student of the new school working for twenty dollars an hour. At the -- but this is what's paying their college education. So I'm you know I feel very sad about it I feel -- for -- known as spam lived with Bernie was you know this is one try to let us own sons who are currently talked a minute trying to -- and knowing him as a person -- I feel about it I I -- me to believe that he was running a Ponzi scheme from the very beginning. I sort of -- it is like you know what went on interest it into the Philippine senator -- mind works and I kind of look at this is a form of denial like you have in the recovery movement like an alcoholic. It seems to me it's taught me that if knowing Bernie these years -- Cuba once a year maybe you know -- but I don't. And knowing him. I would think that what happened is he started to do business I have no knowledge of anything. But it strikes me a person like that what he would do he started to do this thing. And he didn't even say to himself he's doing anything wrong there's no way to Bernie said. I'm going to -- these people out of money unless and this is the other part of what we study in terms of art institute in the mind and think what else is neuroscience. And -- he's a sociopath. It's hard to believe that it's hard to be used like a serial. Kind killer -- compulsive criminal it's more like what I would what I would imagine war is that he started to get involved in this thing. And what happened is he just have what I'll do a little I don't want to come -- I'll just -- A lot of people is that's what I'm saying assailed what what is your recourse like I'm not gonna -- the -- that the -- what happened. I got this off my friends and do. We've also kind of knowledgeable finances by the way I'm parenthetically not knowledgeable I'm not in the financial world I'm a novelist and -- run this calling I'll prosecute it -- not something happened on you don't know didn't come -- not included job I I assumed that the kind of if that's if you know -- this is not the factories so I think. He must be talked about the only thing I know but not equity and comity of I don't know what it. It felt like basic -- I always the stupid someone is talking very well about the -- I don't know. That there's something there but being that I got the call Thursday at what was the call the call with my friend since he's different since he said Bernie made up for the rest of us that you're you're joking me. The head of NASDAQ the sky was the head of NASDAQ at one point he's arrested I think that's -- bad jokes and do I don't like those of you should know you gotta go I I couldn't believe it started -- CNBC and other of them new services. This I could not. Believe that this is a person who knows the top people in New York City. I mean my father with a when he knowing that my father was a real but commercial real estate -- not behind it nothing your father was the one who got very involved and I'm -- my father -- knew knew him but -- but my father who you know in other words. If you were a person in real estate and finance in New York City and you didn't know burning me up. Than it was than the fact -- you weren't. We must note that day at a --"

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