Bernard Madoff s The Ponzi Scheme - 853 Words

Being an investor and investment adviser, Bernard Madoff started off his career as a legitimate and successful businessman also serving as chairman of NASDAQ for several years. Being well respected and unfortunately blindly trusted, Bernard Madoff began to collect investors and clients into his now know Ponzi scheme. Bernard Madoff’s scheme was simply to continually pay high returns to existing clients with the funds brought in by new investors without undertaking in any form of legitimate investment activity. Bernard Madoff was able use his reputation and connections on Wall Street to deceived investors out of billions of dollars by promising high returns with little to no work on their part. They figured it was an easy win on their part, which was ultimately their downfall. Bernard Madoff and even many of his investors and accomplices lacked the desire to demonstrate social responsibility. Solely for the profit, Bernie Madoff and his accomplices created and participated in what can be considered the greatest Ponzi scheme in history. It’s believe that the reason that the scheme went on as long as it did was because the participants were financially rewarded for their silence. Preferred employees were paid well and it bought their silence and loyalty. There was little need or appreciation for honesty and professional business ethics with Madoff and his accomplices when it came to their organization. â€Å"Trust and a good reputation are some of your company’s most valuableShow MoreRelatedBernard Madoff s Ponzi Scheme947 Words   |  4 PagesI am baffled as to how long Bernard Lawrence Madoff’s Ponzi scheme lasted. He started Bernard L. Madoff Investment Securities LLC in the summer of 1960, and did not get caught until he turned himself in on December 10, 2008. There are several things he did to keep himself from getting caught, and several things that could have been done to figure out something odd was happening. Two major points aside from the questions that I’m doing to dive into are that Friehling was not independent and theRead MoreBernard Madoff s The Ponzi Scheme Essay993 Words   |  4 PagesIntro/Overview Bernard Madoff ran the worlds largest ponzi schemes; he lost investors approximately seventeen billion dollars in principle. The following report goes through the events in general from begging to end including a description of the fraud committed, the stakeholders involved and the consequences for them, the role of the auditors and finally the outcome for those held responsible for the ponzi scheme. The organisation, time and place Bernard L. Madoff Investment Securities LLCRead MoreThe Enron And Enron s Scams, The Ponzi Scheme Perpetrated By Bernard Madoff Essay1183 Words   |  5 Pagesten years only, we have seen numerous situations associated with collaborative scams which have shaken the people s trust in businesses and also the general economic climate. A few of the many salient frauds are the WorldCom and Enron s scams, the ponzi scheme perpetrated by Bernard Madoff s, the latest accusations of Goldman Sachs tricking option traders to guarantee the company s personal profit. Incidents such as these designed us all, as upcoming corporation professionals as well as marketRead MoreFinancial Crisis Of 2008 Struck The World1398 Words   |  6 Pagesbusiness scams and schemes that became exposed, creating a colossal uproar and unrest around the world. When the stock market collapsed, people all across America took a hit, with 2.4 trillion dollars of the Americans people’s savings vanishing in just a f ew weeks. This financial crisis also brought to light an unprecedented amount of fraud, over exposing people who were cutting corners. One of the most famous scams that surfaced in late 2008 was operated and executed by Bernard Madoff, in which he perpetratedRead MoreA Report On The Ponzi Scheme1627 Words   |  7 PagesExecutive Summary This report provides a breakdown and assessment of the Ponzi scheme run by American swindler and former stockbroker, investment advisor, and financier Bernard â€Å"Bernie† Madoff. The research draws attention to the biggest fraudulent scheme in U.S. history, emphasizing the use of the so-called Ponzi scheme. Madoff used a variety of techniques that made it difficult to disclose the scam. At the end of each month Madoff sold all stocks and financial instruments so that the hedge fund onlyRead MoreBernard Lawrence Madoff s Life1407 Words   |  6 PagesLawrence â€Å"Bernie† Madoff, American fraudster and a former stockbroker, investment advisor, and financier, born on April 29, 1938. His birth place in Queens, New York. His Birth name â€Å"Bernard Lawrence Madoff.† He was raised in a Jewish family with two siblings. His Mom Sylvia was a daughter of Romanian and Austrian immigrants and a housewife. His parents Ralph and Sylvia Madoff. His father Ralph, a child o f Polish immigrants. And worked as a plumber for many years. In 1932, his parents got marriedRead MoreCase Study : Bernard Madoff Ponzi Scheme957 Words   |  4 PagesAssignment #1- Ethics Paper Bernard Madoff Ponzi Scheme Bernard Lawrence Madoff was born April 29th 1938 (Editors, 2016) in Queens, New York (Editors, 2016). In 1960 Bernard established Bernard L. Madoff Investment Securities LLC (contributions, 2015) a stock brokerage firm on Wall Street. Bernard borrowed $50,000 (Editors, 2016) from his wife’s parents, his father-in-law being a retired CPA and contributing to Bernard’s new firm made it very attractive for investors (Editors, 2016). The firm beganRead MoreBernard Madoff the Fraud of the Century746 Words   |  3 PagesThe Fraud of the Century The Case of Bernard Madoff Summary of the case In December 2008, the highly respected American businessman Bernard Madoff made the headlines when the US authorities accused him of orchestrating a $65 billions Ponzi scheme which is the biggest financial frauds of all time and made of him â€Å" The Conman of the Century†. Bernard Madoff also called   Bernie is a former American businessman, stockbroker, investment advisor, financier and the former non-executiveRead MoreMadoff s Personal And Business Asset Freeze972 Words   |  4 Pagesfinancier, Madoff convinced thousands of investors to hand over their savings, falsely promising consistent profits in return. He was caught in December 2008 and charged with 11 counts of fraud, money laundering, perjury, and theft. Madoff used a so-called Ponzi scheme, which lures investors in by guaranteeing unusually high returns. The name originated with Charles Ponzi, who promised 50% returns on investments in only 90 days. Investigators have determined others were involved in the scheme. SecuritiesRead MoreBernie Madoff Apa Paper1300 Words   |  6 PagesBernard Lawrence â€Å"Bernie† Madoff Shamele Jones Strayer University ENG 215 Professor Erica Ellsworth August 05, 2011 Thesis Bernie Madoff was one of the most prolific Ponzi-scheme artists in history. Madoff schemes netted him millions of dollars. Mr. Madoff used his BMIS Bernard L. Madoff Investment Securities a New York Limited Liability company, to commit fraud, money laundering, and perjury. This is just a few things that Mr. Bernard Madoff has done to many innocent investors, who

Resolved Collective Bargaining Rights Assignment

Essays on Resolved Collective Bargaining Rights Assignment The paper "Resolved Collective Bargaining Rights" is a wonderful example of an assignment on management. What are some reasons why workers want to join unions in the public sector? The recent years have witnessed a remarkable market rise in the number of public employees demand to join unions or the public sector. At the same time, public employees have also intensified the demand to act and organize collectively through employee organizations that they choose for themselves. The reasons for this demand are set on the rights of workers so as to avoid labor strife, to ensure the efficiency, and the continuity of the local government and the state, to secure economic stability, as well as develop a harmonious relationship between the employees and the public employer (Wellington and Winter 101). These goals are set to be achieved by the union security provisions by reducing the potential conflicts among public employees, as well as that which can occur between public employees and their employers. The unions in the public sector also set arrangements that tend to stabilize the labor relations between the public sector and their employers. However, there can be potential biases that exist in these directions. For this reason, it is extremely imperative to keep in mind the reasons for understating the relative strengths that may occur in the public sector unionism (Wellington and Winter 120).What is an effective budget strategy for unions?The effective budgeting strategy helps in efficient management of money. Viewing personal budgeting and budgeting for unions is a realistic assessment for living standards. This is attributed to the fact that unions are supposed to set their financial goals, such as pensions, savings, among others. They should also focus on what is set to be addressed. This makes an analysis of the financial requirements vital in financial coalitions (Wellington and Winter 207). There should be a shared mission, vision, and action plans as part of an effective budget strategy for unions. This shared financial commitment helps in communication and decision making.

Hitler in His Mind Free Essays

Adolf Hitler was known to be a somewhat of monster, and a villian, which is true in the opinions of quite a few throughout history. What Hitler accomplished is astonishing, he was a brilliant man who knew how manipulate people and their way of thinking. But, what is most intriguing about Hitler is his personality and disturbed mind. We will write a custom essay sample on Hitler: in His Mind or any similar topic only for you Order Now Robert G. L. Wiate and his book titled The Psychopathis God: Adolf Hitler discusses Hitler and his personality triats that led to his outrageous ideas and actions. Waite as a author is able to not create a judgement of Hitler and his and write more about Hitler as a person and why he was the way he was. Hitler had many issues that disturbed his mind, such as, his past and childhood experiences, his enourmous amount of phobias and obsessions that consumed his mind, his sexual experiences and his behavior toward sex, and of course the most well known personal hatred toward Jews. Skipping around a little bit in Waite’s book, in Chapter 3, Waite discussed Hitler’s childhood and family history. Hitler’s childhood experiences led to his later on in life obsessions and phobias that were to consume his thinking. Waite is able to find the facts about his childhood to help explain how Hitler’s mind became warped into his way of thinking. Hitler’s childhood was full of death and, abandonment and bad habits. These experiences help explain why he became a vegetarian, his fascination with death and suicide as well as his phobia of being alone. All of these personality triats he became known for were due to his childhood experiences and lifestyle. In my opinion, Hitler’s psychological traits were due to his past. While a boy in Vienna, he was mocked and riduculed. As a child he was strickened with the death of his mother. These types of experiences can create major personality malfunctions later in life. In the first chapter, Waite discusses Hitler’s personality traits and his odd obsessions and daily way of living. One issue that would amaze any reader of Waite’s book is learning about Hitler and his actual ways of thinking rather than just what his factual actions as one of the greatest leaders and manipulator of all time. What is so astonishing is how someone ith such odd obsessions, such as the exact measurements of a body and proportion and positioning of the body, or his obsession with blood and his childish behavior as an adult. Wait’s evidence on Hitler’s manipulating skills is impressive. Waite decribes Hitler as being a man who would use â€Å"brotherhood† and shared experiences to convince people that what they were doing to the Jewish population was alright. In my opinion, Hitler’s psychological explanations for his behavoir is simple. He was a man who was set in his ways and when his way of how life should be ran and lived, he created another obsession in his mind to conquer that obstacle. Unfortunately for Hitler, his past experiences led to his thinking to be irrational and almost manic like. He would use his hatred for his fathers death caused by use of tabacco, as a way to lead a clean life, which in reality is a habit to form, but unfortunately for Hitler, this â€Å"clean† way of living, lead to a more toxic and harmful environment for himself. Waite describes Hitler as using his bad memories as a child to fix what he felt was wrong with society, unfortunately for Hitler, his mind went out of control to be controlling, and â€Å"perfect†. As far as Hitler and women, he looked at them as their primary purpose to be looked at like a pet. He is quoted to have said â€Å"A woman must be a cute, cuddly, naive little thing—tender, sweet and stupid†, if you read into this statement Hitler made, he expected women to be like trained animals. His sexual experiences were very limited. He was intimate with six different women in his life five of which committed suicide. Hitler had a way of making the women feel inferior and if Adolf was not in their lives then they should not be living their lives at all. Waite describes his sexual and intimate life in contrast with his lack of a motherly figure throughout his entire life. Hitler felt that women were irrational and not capable of being a leader because of women having more of emotional personalities. Hitler’s sexual behavior toward women and sex in general does indicate that this side of his personality wa disturbed. Since reading Waite’s book about Adolf Hitler and his personality and psychological state, a perspective has been put into place for myself concerning Hitler and his terrible actions later in life. This book, puts into perspective just how disturbed and unstable Hitler really was. The question that comes to mind is how can such a manic, unstable, psychologically disturbed man, create such a following of people. The only conclusion that comes to my mind is sheer ignornace of Hitler’s capabilities as leader. The people who supported and followed Hitler were people who benefitted from his actions and power. Waite is able to write a book about Hitler that is interesting and informative about Hitler’s psychological standpoint, which helps make you as the reader understand Hitler’s thinking and exactly how much of his decision making was based on his insanity and obsessions that consumed him. How to cite Hitler: in His Mind, Papers