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Bernard Madoff conned even the most sophisticated of clients, such as Fairfield Greenwich Group, through a simple tactic whenever he was asked probing questions: He refused to answer or he lied..

Source: Bloomberg  News

Date: 4/03/2009

Keys: Investing, government, regulation, ethics, law


Questions for discussion:

  • What lessons did you learn about risk and investing from this article?
  • What roles should government regulatory bodies such as the SEC, play in these situations?
  • Who is to blame for the losses incurred by investors?
  • What threat of punishment would deter others from conducting such a fraud in the future?
  • Is this a worse case of fraud because of the massive size of the funds lost?

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