The Bernie Madoff Ponzi Scheme Ethical Situation: In December of 2008‚ Bernie Madoff‚ was sentenced to 150 years in prison for swindling investors out of billions of dollars and creating one of the largest “Ponzi” schemes of all time(SEC). Bernie Madoff initially started out by establishing himself as a well-respected financial expert because he had been one of the founders of the NASDAQ stock exchange‚ and was chairman on the Board of Governors and the NASD. He created his own company called
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The Bernie Madoff fraud happened because of greed. All of the people involved wanted more and more money and eventually the system collapsed. On March 12‚ 2009‚ Bernie Madoff pled guilty to the largest Ponzi scheme in history. He successfully took $65 billion from investors that trusted him with their money. Why the fraud case was created Bernie Madoff had his investors believe that they were making a lot of money through his investment firm (Bernard Madoff Securities)‚ by creating false trade
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1. What are the ethical issues involved in the Madoff case? Bernie Madoff was a thief‚ plain and simple. He was a greedy‚ selfish‚ self-indulgent con artist‚ no different from any other grifter that you meet‚ except because of who he was‚ he was able to pull the con off on a grander scale. Madoff used his name and position and the legitimacy of his first business to draw people into his Ponzi scheme (like a pyramid scheme where one takes money from newer clients to pay older clients). He misrepresented
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Applied Problems – Week 1 AP‐1: Which costs are pertinent to economic decision making? Which costs are not relevant? ©2009 McGraw‐Hill Irwin. Used with permission from the publisher. Brickley‚ J. A.‚ Smith‚ C. W.‚ & Zimmerman‚ J. L. (2009). Managerial economics and organizational architecture (RQ 2‐1‚ p. 56). Boston: McGraw‐Hill Irwin. AP‐2: Textbook – Chapter 1‚ Applied Problem 2 (p. 32) AP‐3: Textbook – Chapter 2‚ Applied Problem 1 (p. 83) AP‐4: Textbook – Chapter 2
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Applied linguistics is an umbrella term that covers a wide set of numerous areas of study connected by the focus on the language that is actually used. The emphasis in applied linguistics is on language users and the ways in which they use languages‚ contrary to theoretical linguistics which studies the language in the abstract not referring it to any particular context‚ or language‚ like Chomskyan generative grammar for example. Interestingly even among applied linguists there is a difference of
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Virginia Reinauer Botany120/Michael Hanson November 20‚ 2012 Lab# 9: Applied Mycology Introduction: Back in the day‚ the people of the San Francisco gold rush were served sourdough biscuits and bread. This wild yeast based bread was later to become famous‚ for its slightly tart taste. The bread was created from what is called a starter‚ where wild yeast is allowed to grow to replace store bought yeast‚ I found in this lab that my home brewed yeast tasted fresher and made the waffle texture much
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(2011-2012) Chapter 1: What is Language? - - .b lo gs po t.c om - Language can be viewed as a social fact‚ as a psychological state (mental dictionary)‚ as a set of structures (a grammatical system: a system to what orders the words have to come in if they are to make sense)‚ or as a collection of outputs (utterances/sentences: spoken or written). Language can be viewed as a set of choices (different ways of saying a sentence)‚ a set of contrasts (an inversion of sentences). Idiolect
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THE ACCOUNTING REVIEW Vol. 77 Supplement 2002 pp. 175–202 Evidence from Auditors about Managers’ and Auditors’ Earnings Management Decisions Mark W. Nelson John A. Elliott Cornell University Robin L. Tarpley The George Washington University ABSTRACT: This paper reports analyses of data obtained using a field-based questionnaire in which 253 auditors from one Big 5 firm recalled and described 515 specific experiences they had with clients who they believe were attempting to manage earnings
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were responsible for Enron crisis‚ including independent auditor‚ key executive officers‚ internal auditors‚ SEC and FASB. The hypocrisy‚ dishonorable actions and unethical behavior of Kenney Lay‚ Jeffrey Skilling‚ Andrew Fastow led to bankruptcy. This and many other problems‚ such as loss in transactions involving the swaps stocks‚ SPE related issues and est.‚ finally contributed to crisis. As Enron executives‚ all of their concerns should have been focused on Enron’s profits‚ but seems that many
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paper for the guidance of teachers 9713 APPLIED INFORMATION AND COMMUNICATION TECHNOLOGY 9713/12 Paper 1 (Written A)‚ maximum raw mark 80 This mark scheme is published as an aid to teachers and candidates‚ to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award marks. It does not indicate the details of the discussions that took place at an Examiners’ meeting before marking began‚ which would have considered the acceptability of alternative
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