Discussion Question:

Refer to the below link to Stephanie Yang’s article on Bernie Madoff, “5 Years Ago Bernie Madoff Was Sentenced to 150 Years in Prison – Here’s How His Scheme Worked”.

http://www.businessinsider.com/how-bernie-madoffs-ponzi-scheme-worked-2014-7

Discuss how Madoff was able to perpetuate the fraud. What does this say about human nature?

Discuss the role of the regulatory agencies and the reasons for their not detecting the fraud. Analyze the impact of this type of fraud on the US economy.