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?
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I think what Bernie Madoff did waas wrong. Those people that lost everything have to move in with their children. Most people did know that he was scheming them. We are already in a economic crisis and this didn't help matters.
ReplyDeleteThere should be no reason to let him get away with that. He should give them their money back and be sent to jail for theivery.
ReplyDeletei kno its wrong for what Bernie Madoff did. He robbed tons o f people's money and old people's retirement money like over billions of dollars and that aint fair because all the victoms had to move to differnt places or with their childrens. But in a way its the victom's fault just as much, because they agreed with Madoff without knowing him and they didnt look into it more they just ameditly said yes..
ReplyDeleteEven though i wasn't there that class I think in this blog is very important to people can understand everything people go though to know what happen in those day. It shows that in these day are not and in the people in these day are unhealth withno money all the time so that what i think
ReplyDeleteMadoff's action were clearly illegal and yet he has still not been taken to jail for the billions of dollars that he had spent. I think that he should recieve the same punishment as a poor person who steals from a bank. I think this problem could've been avoided if the SEC had done what they were supposed to do from the beginning and this is a clear reminder of why we need regulations in our businesses.
ReplyDeleteI also think that Madoff should go to jail for stealing all the people's money, who trusted him. It's unfair that he gets off with house arrest when if someone else did this, they would get sentenced in jail. I think the SEC is to blame for Madoff's scheme going as far as it did. If they would've done their job, there would've been a lot less people who got their money stolen.
ReplyDeleteI think the s.e.c should have acted faster than they did. Especially when that guy had sent them 27 red flags. Madoff should have also gone to jail not get house arrest, I also think that the people that lost all their money should get some reasonable amount of money back and not get nothing.
ReplyDeleteI think what he did was wrong he should go to jail. He should also give the money back to all the people he stole from.
ReplyDeleteI think that he should give all of the money back to the people he stole from. I think what he did was wrong and he should go to jail for a long time.
ReplyDeleteWhat he did to all the people haveing to move in with there kid Im thinkng that he should gone to jail for life . H should give back all the money and next time he should think before he act
ReplyDeleteVery good post everyone....keep up the work. Think beyond the surface of these issues and give me your opinions and insights. They are good reading. Mr. Hamlin
ReplyDeletewhat Brianne said
ReplyDeleteMadoff deserves to go to jail for a long long time. even though he is 70 and will probably die soon he still should go to jail. I would have been more effect if me was put in jail 10 years ago but what can you do..... I still can't wrap my head around how he could have stole 50 billion dollars from innocent people and doesn't care. I could never have done it because i couldn't keep it a secrect for that long haha i am glad i am just not one of those people.
ReplyDeleteCarolyn: good post....keep writing ...it's worth extra points.
ReplyDeleteEveryone...good writing......I like reading your thoughts..expand them and delve deeper into the subject...
Any jail sentance cannot give enough punishment for what he has done. So many people have been effected in so many dofferent ways. And even though he is waiting on sentancing, he still wants to go home as if he has a right to be out free. I hope that some money can be returned to the people he stole it from. Some had all their retirement saved it this scheme I think what he done is a terriable crime.
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