Madoff Research Paper

Words: 587

Pages: 3

Open Document

Madoff successful and respected reputation

One reason behind Madoff’s successful scheme was that he was a highly respected and well-established financial expert. His reputation peak, when he helped found the NASDAQ stock exchange and served a term as its chair. At that time, Madoff was running a legitimate business, the Bernard L. Madoff Investment Securities, earning the trust from his investors’ because whenever they request a withdrawal, Madoff’s investment firm would send the money to them efficiently (Clark, 2009). During Madoff’s peak years, he was able to make friends with many influential figures including politicians, directors, actors, and athletes, which benefited him greatly. He was also on good terms with the Securities and Exchange Commission, gaining himself a set on SEC’s advisory committees. …show more content…
In addition, unlike other Ponzi schemes, Madoff didn’t lure his investors with an unbelievable return, he did not use a not a “get rich quick scheme” (Clark, 2009). He knows what the people want; they want steady, metronomic returns. Madoff’s returns were moderate (still on the higher side) and consistent, generating a monthly 1 percent gains (Collins, 2012, pg. 437). Madoff played the classic role of a Ponzi Schemer, portraying himself to be generous, charismatic, and trustworthy. Madoff tends to play a psychological game with his investors, making himself sound exclusive. Madoff didn’t just let anyone into his circle and invest. You have to know somebody, and maybe then he will agree on

Bernie Madoff Research Paper

Bernie Madoff obsessive ambition to become wealthy led him to join the elite group that ran Wall Street. Ultimately Madoff founded one of the first brokerage firms to use computer technology to reduce the cost of securities transactions, Madoff Securities. Bernie Madoff is credited as one the founder of the NASDAQ electronic stock exchange. Madoff Securities expanded his firm adding the investment advisory services which became the most important line of business, growing dramatically due to the…

Words 436 - Pages 2

Bernie Madoff Research Paper

within Wall Street, was hemorrhaging assets. This is not unusual, given the timeframe, as a lot of hedge funds and other investment firms were going bankrupt around this same time; however, this one was different. It was ran by a man named Bernard Madoff—a man who had spent his entire adult life on Wall Street dealing in finance. He had at one time been an executive officer of NASDAQ, one of the largest securities exchanges in the country, well respected and envied by his peers, but by this time in…

Words 474 - Pages 2

Bernie Madoff Research Paper

For my final essay I chose to do my project on Bernie Madoff. Bernie Madoff was the one who commited 11 felonies mainly through fraud. He was the man who perfected the Ponzi scheme which is the idea of getting more money to older investors by getting new investors to give money. This method of fraud was developed by a man named charles Ponzi who first used the idea back in the early 1900’s he was an italian scandal and con artist who promised his clientele large amounts of money whereas all the money…

Words 992 - Pages 4

Bernard Madoff Research Paper

Bernard Madoff is currently serving a prison sentence of one hundred and fifty years for fraudulently committing a Ponzi scheme. While in prison he has suffered heart issues and his family has stopped visiting him. While he regrets what he has put his family through, he has little remorse for his actions. Mr. Madoff continues to blame investors for expecting unrealistic returns on their money, which is what he feels caused him to set up the scheme in the first place. While he does not feel like…

Words 321 - Pages 2

No One Would Listen Essay

history, as orchestrated by Bernie Madoff. Harry Markopolos caught up with Madoff’s Ponzi scheme earlier on in his career and saw all the red flags. There was no explanation of the continuous one percent yield in over forty five stocks that Madoff dealt with. Madoff took advantage of the laxity by the SEC officials in failing to follow up complains with an investigation, and the trust…

Words 1150 - Pages 5

Ethical Behavior in 2008 Essay

1 Fitzgerald Griswold Introduction According to the Webster's Dictionary business ethics is defined as "the study and examination of moral and social responsibility in relation to business practices and decision-making in business". It is necessary to have to bridge of trust between the quintessential businessman and the average person trying to accomplish something…

Words 6142 - Pages 25

Acc 562 Week 7 Discussion Acc562 Week 7 Discussion Essay

governance of audits including the professional, regulatory, and corporate managerial requirements. * Use technology and information resources to research issues in auditing. * Write clearly and concisely about auditing using proper writing mechanics. Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric found ACC 562 Week 4 Discussion "Professional Standards" Please respond to the following:…

Words 2470 - Pages 10

Just Following Orders Essay

Justify your answer. (Points : 13) These website owners operate Research Paper Mills for profit and personal gains and suffer no social consequences for their unethical business practices. These website practices impact the moral principles of today's society and that of our future leaders by cultivating the seed of unethical…

Words 1393 - Pages 6

The possible financial crimes and the impact of it on shareholders in the corporate world Essay

This paper, however, cannot give out a specific definition of financial crimes, considering we have numerous varied definition around the world. Even in the United States, I have found different answers for it. So in this paper, I listed a number of definitions of financial crime given by different scholars. Also, I combine some real cases to help understand the term and impact it brings to shareholders. Keywords: financial crimes, corporate world, shareholders. Introduction The research topic…

Words 6845 - Pages 28

Essay about Marketing and Rolex

and a call centre. According to research these front-end techniques (aimed at creating a personal connection between customers and the brand) have resulted in an increase in sales. This is mostly due to brand loyalty. However, the company’s CFO (Ewan McCallum) notifies him that the costs for marketing are half of the company’s total costs. This is a problem according to the company’s master distiller (Ellis Cameron) because not enough money is left for Research and Development. Not to mention that…

Words 2051 - Pages 9