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https://www.org/video/frontline-the-madoff-affair/ Reading this video first, and answer these questions Bernie Madoff's Ponzi scheme remains one of...
https://www.pbs.org/video/frontline-the-madoff-affair/
Reading this video first, and answer these questions
Bernie Madoff's Ponzi scheme remains one of the largest financial frauds in U.S. history, at least among those perpetrated by a very small number of individuals (Madoff and perhaps a few assistants). It was a fraud made possible, to varying degrees, by a mix of "a) individual people and their beliefs, motivations and emotions; (b) the pressures, policies and practices in business organizations; and (c) the larger social and institutional context of business. Although we will focus on the individual people and their beliefs and decisions, you also should pay attention to the larger contextual factors at work.
● What kind of behaviors and beliefs of individual people helped to make Madoff's fraud so successful, for so long?
● Like the author of "Conflict on a Trading Floor," and like some of the participants in Stanley Milgram's electric shock experiment, most people often rationalize (that is, explain away, or try to justify) bad behavior by giving what they think are good or plausible reasons for it. What rationalizations do you notice being offered by some of the people involved in Madoff's fraud?
● What kinds of organizational, social, or institutional arrangements helped to make Madoff's fraud possible?
