Open Thread: Sundown, Sinking Slowly Into the Sea…
29 minutes ago
Thursday, December 11, 2008
Billion Dollar Fraud
Great, the economy is having a hard time and then we find out someone has been charged with fraud in the Stock Market. Could this have had any possible large scale effects on the economy other than further ruin people's confidence and Madoff losing his reputation? Apparently his website he wants fair-deals and high ethical standards in his firm. Could it has seriously contributed to the economy's problems? It probably didn't have a huge effect but then again I don't know much about stocks and economics to have a good perspective to judge.
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3 comments:
That is ridiculous. Fraud? Really? at this point in time? I don't think it could have SERIOUSLY contributed to the economy's problem, but it must have had SOME effeect. Some people make the worst decesions.
I highly disapprove of this person's actions. I mean, do you really want to further mess up the American economy? We're already in a hole as it is. I hope this person is shunned by everyone they know.
Well yea, fraud is bad and all that, and this guy is a scumbag, but im not too sure this has had any significant effect on the economy as a whole. If a billion dollars goes missing once or twice, I hate to say it, but compared to the massive amounts of money flying back and fourth constantly within the stock market, that money was probably never anything more then an extra few zero's on a page to somebody.
The part of this that stands out to me is the total lack of oversight. These are the types of people that are running our economy, and I feel THAT has something to do with our current economic situation.
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