Bernie Madoff Moral Philosophy Essay
Moral philosophy breaks down to the understanding of an individual’s belief in relationship to the group or to that individual. Just looking at the different philosophies, the conspirator, Bernie Madoff, is an egotist right down to his blaming the SEC and society for not being smart enough to know he was fabricating all his transactions. The self-interest of and individual is the fundamental actions of Maslow’s hierarchy, but in those teachings, it is assumed when you leave your childhood you will become more autonomous and less dependent only on what serves a child’s purpose. Moral philosophies make sense in the application in your daily life, but when they are interwoven with business practices and the growth of and individual or a group,
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Feeders, family members and the SEC for that matter, knew Madoff’s returns were much higher than the average investors return, and turning a blind eye in the early 2000’s is how we woke up one day with a husband and wife in Las Vegas with a $400,000 mortgage and two minimum wage jobs. Had Madoff used the utilitarian philosophy, he had the perfect opportunity to do the most good for the greatest amount of people. Oddly enough, until the scheme was found, he was considered to be maximizing for the greatest amount of people, turns out it was only on paper. Madoff’s business philosophy was certainly not the virtue ethics, since he did no moral good, and the irony is the justice that business philosophy sets out to address, will be the 150 year sentence he received by the judicial system as a measure of the fairness of his crime. The feeders were as culpable as the children and the financial team he assembled, and ironically an SEC executive notified the authorities of Madoff’s actions in the infancy of the Ponzi scheme, but the SEC in its philosophy not to disrupt a $65 billion dollar operation, exercised poor governance over this situation. Irving Picard was entrusted to separate fact from fiction and represent the many scammed in the claw back suit designed to
Feeders, family members and the SEC for that matter, knew Madoff’s returns were much higher than the average investors return, and turning a blind eye in the early 2000’s is how we woke up one day with a husband and wife in Las Vegas with a $400,000 mortgage and two minimum wage jobs. Had Madoff used the utilitarian philosophy, he had the perfect opportunity to do the most good for the greatest amount of people. Oddly enough, until the scheme was found, he was considered to be maximizing for the greatest amount of people, turns out it was only on paper. Madoff’s business philosophy was certainly not the virtue ethics, since he did no moral good, and the irony is the justice that business philosophy sets out to address, will be the 150 year sentence he received by the judicial system as a measure of the fairness of his crime. The feeders were as culpable as the children and the financial team he assembled, and ironically an SEC executive notified the authorities of Madoff’s actions in the infancy of the Ponzi scheme, but the SEC in its philosophy not to disrupt a $65 billion dollar operation, exercised poor governance over this situation. Irving Picard was entrusted to separate fact from fiction and represent the many scammed in the claw back suit designed to