Woody Allen Takes on the Madoff Scandal in New Movie

Woody Allen takes on the Bernie Madoff scandal in his coming movie “Blue Jasmine.”

Speakeasy took in a screening of the coming film last night, which [SPOILER ALERT] tells the fictional tale of a high-society wife (played by Cate Blanchett, who will likely generate early Oscar buzz) and her husband (Alec Baldwin, in a performance that is sure to be talked about). The Baldwin character goes to jail for some crooked financial dealings, leaving Blanchett’s character to deal with the economic and emotional aftermath.

The couple in the film are fictional, but their situation parallels the Madoff scandal. The film also co-stars Bobby Cannavale, Louis C.K., Andrew Dice Clay, Sally Hawkins, and Peter Sarsgaard. It opens in New York and Los Angeles on July 26, 2013.

Madoff admitted in March 2009 to running a vast, decades-long Ponzi scheme and is currently serving 150 years in federal prison in North Carolina.

Allen’s film focuses on the plight of the crooked businessman’s wife, as she struggles to build a life without her husband’s illegally-obtained wealth, and deals with the rage of the investors who trusted him.

In real life, Ruth Madoff dealt with similar issues, issuing a statement in 2009 reading, in part, “I am breaking my silence now, because my reluctance to speak has been interpreted as indifference or lack of sympathy for the victims of my husband Bernie’s crime, which is exactly the opposite of the truth.”