StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Bernard Lawrence Bernie Madoff - Assignment Example

Comments (0) Cite this document
Summary
1. The illegal behavior associated with this scheme hurt thousands of investors worldwide. Bernard Madoff was running a Ponzi scheme which was advertised as a legitimate hedge fund investment. A Ponzi scheme can be defined as an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors (Sec, 2001)…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.4% of users find it useful
Bernard Lawrence Bernie Madoff
Read TextPreview

Extract of sample "Bernard Lawrence Bernie Madoff"

Download file to see previous pages For years MR. Madoff complied with paying dividends to investors, but under false assumptions. The deception that was occurring was unethical behavior. The third type of illegal behavior associated with this scam was that Madoff’s company was not complying with the generally accepted accounting principles. Not complying with the general accepted accounting principles is a violation of the FASB and SEC mandates. 2. The scam that Bernie Madoff pulled off hurt a lot of different interest groups. Prior to the scandal exploding the hedge fund that Mr. Madoff was operating was an extremely attractive investment alternative for a lot of individual investors and organizations that were looking to gain a profit from the stock market. The hedge fund Mr. Madoff was able to maintain in the marketplace for over 20 years was a tremendous opportunity for a lot of investors. Some federal prosecutors believe that the fraudulent activity from Mr. Madoff began as early as the 1970’s. The total losses that this scheme caused investors exceeded $65 billion. The fund offered investors every year consistently double digits returns, which is unheard of on Wall Street for a prolonged period of time. The Ponzi scheme Madoff operated hurt a lot of interest groups. Some of the interest groups that were hurt by the scam included individual investors, non –profit organizations, governmental agencies, and private corporations. “If Madoff hadn’t faced $7 billion in redemptions, the Ponzi scheme might have never been discovered” (Lenzner, 2008). 3. There are several safeguards that could have prevented the Ponzi scheme that Madoff created from occurring. The first safeguard could have been obligating the company to reveal the exact composition of the portfolio of the fund to the individual investors on a recurrent basis. A second potential safeguard could have been establishing recurrent audits of the investment activity of the firm by independent auditors. A third safeguard that could have prevented this fraud could have been more involvement by the Securities and Exchange Commission (SEC) in the matter. The SEC could have imposed more rigorous auditing standards to analyze the activities of the company. A fourth source of risk management prevention should have been the FBI. Most of the major investment firms on Wall Street believed that the returns offered by Madoff’s company were unrealistic in the long term. The FBI should have investigated this situation earlier. It seems ironic that it took the FBI and the SEC over 20 years to realize it was all a scam. 4. The grand majority of the funds of the hedge fund were invested by individual investors. From an investor’s standpoint the losses could have been prevented or at least minimized by investing only a small portion of their portfolio composition in this hedge fund. A second way investors could have prevented falling into this fraudulent scheme would have been by mandating that Madoff revealed the sources of the income of the hedge fund. Another way the investors could have prevented the scam was by asking the advice of registered broker prior to investing in the fund. 5. The scam that Mr. Madoff was involved ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Bernard Lawrence Bernie Madoff Assignment Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from https://studentshare.org/business/1430708-bernard-lawrence-bernie-madoff
(Bernard Lawrence Bernie Madoff Assignment Example | Topics and Well Written Essays - 750 Words)
https://studentshare.org/business/1430708-bernard-lawrence-bernie-madoff.
“Bernard Lawrence Bernie Madoff Assignment Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/business/1430708-bernard-lawrence-bernie-madoff.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Bernard Lawrence Bernie Madoff

Bernard Shaw and the Fabian Society

Such was the magnitude of capitalism’s failure” (Holroyd, 1988, 124-25). Various groups of like-minded individuals began to form, proposing the first one, then another, a form of social order and the role of the individual that would address some of the pressing needs of the starving lower classes. One of the organizations that arose out of this chaos was the Socialist Fabian Society, which attracted thinkers such as Shaw. The individuals who gravitated to this group planned to use their literary and sociological skills to reorganize the country and its economy through a kind of peaceful revolution. Knowledge of the Fabian Society’s beginnings and direction can help to understand Shaw’s fictional writings a...
11 Pages(2750 words)Essay

Bernard Coopers Burls

...Bernard Cooper’s “Burl’s” is an essay discussing a boy growing up in 1950s America and coming to terms with his homosexuality. He talks about the ambiguity of true gender lines- that those commonly displayed are merely the product of societal expectations. Two transvestites in a parking lot are the bringers of his realization that these lines are not as clear as he had believed, simply in seeing “These women had Adam’s apples” (155). Cooper’s notions of male and female dissolve. He had only encountered the separate gender lines in the worlds of his mother and father’s closets. There was his father’s uninviting cave of ties, mothballs and poor lighting, or his mother’s haven of perfumes, high heels and makeup. The men in the parking lot...
6 Pages(1500 words)Literature review

D.H. Lawrence and Other Views on Death - How They May Help Us Deal with Death in Context to Healthcare

Lawrence graduated from University College, Nottingham in 1908, devoted himself for a time to teaching at a boy’s school, but not long after, decided to quit teaching and spend his time at freelance writing instead. In March of 1912, he met and fell in love with a married woman, Frieda Weekley, nee Richthofen; then six weeks later eloped with her to the Continent.

Frieda was a sister of the famous German World War I flying ace and wife of Lawrence’s French professor at Nottingham. This elopement marked the start of Lawrence’s lifetime war with existent moral standards as well as the beginning of a continuous wanderlust prompted by Tuberculosis which induced him to seek warmer and more healthful climes....
9 Pages(2250 words)Essay

Stranger than Fiction: Bernard Malamud

It was the nerve raking reality of the Holocaust that moved him to question his religious and ethnic identity5. As a result, he got immensely interested in Jewish tradition and history. According to Malamud, “I was concerned with what Jews stood for, with their getting down to the bare bones of things. I was concerned with their ethnicity- how Jews felt they had to live in order to go on living.”6
Most of the works of literature drafted by Malamud exhibit a strange mix of truth and fantasy and have often been allocated to the ambit of “parables, myths, and allegories.”7 There is no denying the fact that Malamud’s stories and novels have a clear cut moral objective. In fact, Malamud happened to be...
10 Pages(2500 words)Assignment

Analysis of Bernard Baumohls The Secrets of Economic Indicators

...Review of Bernard Baumohl’s The secrets of economic indicators: Hidden clues to future economic trends and investment opportunities Economic indicators play a huge role in the movement of stock prices. These indicators are a primary tool for big and small investors as they make decisions about buying and selling stock, with some analysts completely obsessing over them. Stocks have responded with wild fluctuations to these indicators, especially in the past year when global confidence in the stock market has been shattered. Still, analysts pay strict attention to these indicators because they are, perhaps, one’s best chance at finding hints about the future direction of markets. In spite of the present catastrophic state of the market...
6 Pages(1500 words)Book Report/Review

Bernard Madoff: Anatomy of Greed

...Bernard Madoff: Anatomy of Greed Abstract In December, 2008 the investment community and country at large were rocked by news that Bernard Madoff, founder of the Wall Street firm, Bernard L. Madoff Investment Securities LLC, was accused by the government of perpetrating the most massive Ponzi scheme on record, cheating thousands of unsuspecting investors—private citizens, the rich and famous, institutions, charities--out of billions of dollars and in many cases, their life savings. CBS news commentator, Morley Safer (2008), estimates the damage at $18 billion. (Safer, p. 1-4) Other estimates vary and are often significantly higher. Madoff himself estimates losses at 50 billion. (Security and Exchange Commission, 2008-293) Here we...
10 Pages(2500 words)Case Study

Idea of Rebellion in The Virgin and the Gipsy by D. H. Lawrence

...Discuss the Idea of Rebellion in The Virgin and the Gipsy by D. H. Lawrence and A Hand Full of Dust by Evelyn Waugh It is widely known that literature, as a specific discipline of art and humanities, encompasses within its scope a detailed picture of the development of human civilization from socio-historical and socio-cultural perspective. Due to this reason, scholars, artists and humanists widely consider literature as one of the primary sources of social documentation. However, the scope of this discipline does not only remain limited as one of the primary sources of social document; rather the independent voice of artists often has helped in orienting common people’s outlook to the affairs occurring around them. In different ages...
12 Pages(3000 words)Book Report/Review

Compare and Contrast these two literary works: The secret Life of Walter Mitty by Thurber and Im Going by Bernard

...Marriage, gender, materialism, and technology August 14, Marriage, gender, materialism, and technology Bernards play “Im Going” and Thurbers short story “The Secret Life of Walter Mitty” describe their ideas regarding men and women and their marriages. Their stories are examples of comedic treatments of marriage, but with underlying cutting satire of what it means to be married and to “become” a man or woman in their times. This paper compares and contrasts the content, form, and writing style of Bernard and Thurber using personal analysis and research. The stories have similar content, where they both see marriage as a trap for men and womens dreams and they use similar themes on reality versus actuality, women as shallow individuals...
8 Pages(2000 words)Essay

Biography of Thomas Edward Lawrence

... with famous writers such as Bernard Shaw and many other artists, archeologists, tourists and civil personalities. 3) His book – Seven Pillars of Wisdom: This book is indeed a written form of the war time that Lawrence spent in Arabia. He narrated all the events, his mental and physical conditions at various points, the habits of Arabs and their leaders and the role of British government in that entire scenario. The book begin by describing his utmost desire of achieving something beyond the imaginations; to present himself as a helping guide to the people who desperately needed freedom and thus tried to his best what he really hoped for. Those introductory lines are: “I loved you, so I drew these tides of men into my hands and wrote my...
10 Pages(2500 words)Research Paper

Why Bernard Williams Argues That Utilitarianism Is Wrong

... to consider the rest involved. Utilitarianism has its strong reasons and benefits for the common good, but fails to give close attention to the personal integrity. Works Cited Harris, J. “William on Negative Responsibility and Integrity.” The Philosophical Quarterly, Vol. 24, No. 96, Jul., 1974. Haupli, B.W. “Lecture Supplement on Bernard Williams “Against Utilitarianism” [1973].” fiu.edu. 28 September 2013. Web. 7 March 2014. Hinman, L.M. “Utilitarianism: An Introduction.” sandiego.edu . 2 February 2014. Web. 7 March 2014. Raby, Alexander. “Williams’ Integrity: Is the Utilitarian’s Calculus Too Inhuman for Morality?” web.nmsu.edu. n.d. Web. 7 March 2014. “Utilitarianism.” csus.edu. n.d. Web. 7 March 2014. ... as put forth by...
8 Pages(2000 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic Bernard Lawrence Bernie Madoff for FREE!

Contact Us