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Combine the butter and the flour together.
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Bring the beef broth and madiera to a boil.
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Whisk in the butter and flour mixture until completely dissolved.
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Simmer for about 15 to 20 minutes, until the liquid is thickened and reduced by half.
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While the sauce is simmering, preheat the oven to 350*F.
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Spray the rack of a roasting pan with nonstick spray and place in the pan.
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Slice the tenderloin into 6 portions that are approximately 3 inched in diameter and 1 1/2 inches thick.
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Tie butcher's twine around the beef medallions so they maintain their shape while cooking if desired.
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Combine the breadcrumbs, blue cheese, parsley, chives and pepper to form a paste.
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Heat the olive oil in a nonstick skillet over high heat.
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Sear the medallions until just browned, 2 to 3 minutes on each side.
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Arrange the medallions in a roasting pan.
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Coat the top side of each medallion with 3 TBs of the blue cheese and herb crust.
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Roast until the crust is golden brown and the meat is cooked as desired, about 6 to 8 minutes for medium rare, depending on the size of the medallions.
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If butchers twine was used, be sure to remove it.
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Serve the medallions on a pool of the warm madiera sauce.