We talk in class and watched a short video on the affects of Mr. Madoff's Ponzi scheme. At the root of this scheme was greed; greed on his part certainly, but also on the part of his investors. However, the victims were the thousands of people who lost everything; including the thousands who lost their retirement accounts through their businesses that Madoff managed and stole from.
Talk about the lack of regulation and how that allowed him to carry out his crime, even in the face of whistle blowers who tried to let the SEC know many years ago that he was a fraud. How does this debate play into the current political debate in Washington over deregulation vs. more regulation of business.
You can also talk about the way justice if handled in America in terms of your position in society and your wealth. Is it supposed to be that way? Why not?
Wednesday, March 4, 2009
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