Tag: investment

Madoff Scandal Essay

Madoff Scandal Essay

Madoff’s scandal is one of the largest fraud scandal ever recorded in the world history especially during this time when the world is facing the greatest economic depression and recession. This may be regarded as one of the shocking event which has helped to shape the direction of the economy in the United states of America(Frank,Robert,2008) .The revelation comes as an ironic step since the ones who brew the whistle were his own sons who were also learning the business together with his father. Although the fraud occurred, there are a lot of controversies which currently surrounds this fraudster issue in the United States of America. Although Madoff got arrested so as to help recover the fraud money, this will prove to be having some negative effects especially to the markets of the United States of America respectively. The liquidatations may be facing the redemptions and this may serve as one of the negative effect as it will serve as the barrier of the stock exchange growth (Jagger, Suzy, 2008). This paper tries to bring out the general cause of the scandal which contributed to a lot of losses to the customers involved and the economy of the United States of America. At the same time this paper will try to analyze the consequences of this scandal in general to the future of the United States of America respectively.

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