Bernie tells his family – The Wizard of Lies (2017)

Summary

In a tense family confrontation, a father admits to running a Ponzi scheme that has led to a complete financial collapse, leaving nothing but fake investments. Despite the gravity of his actions, he assures his family that he will set them up with what's left, even though there’s only a fraction of what was promised. As the truth unfolds, the father plans to turn himself in, but struggles with the consequences of his deception, leaving his loved ones to grapple with his betrayal and the fallout from his choices.

Takeaways

• 😀 A high-stakes decision is being made about paying out large bonuses to employees, despite concerns about the company's future stability.
• 😀 The speaker is determined to reward employees for their hard work, even though the financial year isn't over and the final outcome is uncertain.
• 😀 The situation involves a sense of urgency and tension around whether to take a conservative approach or go ahead with the bonus payouts.
• 😀 The bonuses in question amount to $175 million, and the company has had a strong year, but the financial situation is still volatile.
• 😀 The speaker expresses that it's important for people to be able to take care of their families, reinforcing the human side of the decision.
• 😀 There's a significant revelation that the financial situation is not as it seems—there are no real investments, only fabricated ones.
• 😀 The speaker admits to creating fake trades and investments, essentially running a Ponzi scheme, leading to a complete collapse of the business.
• 😀 The Ponzi scheme was much larger than expected, with $50 billion supposed to be in play, but there is now nothing left.
• 😀 The speaker intends to turn themselves in next week, acknowledging the gravity of their actions and the consequences to come.
• 😀 The speaker's son is devastated by the revelation, showing a deep emotional conflict and disbelief that his father could have done this.
• 😀 Despite the devastation, the speaker reassures the family, claiming there is still some money left, and promises to take care of them and the loyal employees.

Q & A

What is the central conflict in this script?

The central conflict revolves around the father's confession to his family that he has orchestrated a Ponzi scheme, and the emotional fallout from this revelation.

What emotional reaction does the son have to his father's confession?

The son is initially shocked and confused by the revelation. He struggles with disbelief and anger, feeling betrayed by his father's actions.

Why is the father paying out the bonuses now, despite the scheme being exposed?

The father wants to reward the people who have worked hard and make them feel good about their contributions. He also appears to believe that this may mitigate some of the damage caused by the scheme.

What does the father mean by saying, 'I've made them up, they're fake'?

The father is admitting that the investments he made were fabricated. There were no real trades or investments; everything was a lie, and the entire scheme was fraudulent.

What is a Ponzi scheme, as hinted in the script?

A Ponzi scheme is a type of investment fraud where returns to earlier investors are paid using the capital of newer investors, rather than from profits generated by the investments. It eventually collapses when there is not enough new money coming in to pay returns.

What is the father's plan after confessing his crime?

The father plans to turn himself in the following week, accepting the consequences of his actions while trying to reassure his family that there is still money left to take care of them.

Why does the father seem to believe that there is still money left?

The father seems to be clinging to the hope that a small amount of the stolen money remains, which he intends to use to set up his family and loyal employees, though it is unclear how much is actually left.

How does the family react to the father's confession?

The family is in shock, with the son especially feeling betrayed and devastated. There is a mix of disbelief and confusion as they struggle to understand the magnitude of the father's actions.

Why does the father insist that 'it's all gonna be okay' despite the severity of the situation?

The father is trying to reassure his family that everything will be fine, though his words seem more like an attempt to ease his own guilt than a realistic assessment of the situation. He wants to create a sense of stability despite the chaos he has caused.

What does the phrase 'taking care of everyone' suggest about the father's motivations?

The father seems motivated by a desire to protect his family and employees, despite the fraudulent nature of his actions. His focus on ensuring that others are 'taken care of' indicates that he may feel some remorse, but his approach is misguided and ultimately self-serving.