Needle-exchange programme

Despite five significant investigations against Bernie Madoff between 1992 and 2006, regulator lawyers for Securities and Exchange Commission (SEC) produced lackluster efforts and results to prevent Madoff from conducting financial fraud that robbed many individuals, charities, non-profit organization, and educational institutions of their entrusted and invested funds (Shafritz, Russell, & Borick, 2013). In essence it was the SEC that enabled Madoff to further build his Ponzi scheme, which…

Securities LLC. This firm grew to become one of the top market maker business on Wall Street ("Bernard Madoff"). He sat on the board of Nation Association of Securities Dealers Automated Quotations (NASDAQ); and he helped advise the Securities and Exchange (SEC) on trading securities. On Wall Street, he was widely loved, and he even formed close bonds with a few of his clients. None of them could have possibly known that Bernard Madoff was perpetrating the largest Ponzi scheme in United States…

Financial Statement Fraud Investigation Frisbey (2015) indicated that forensic accountants should be able to effectively communicate with the management and involved personnel as to the factors of the existence of fraud indicators, to be able to perform essential analytics and independent testing such as horizontal and vertical testing techniques to detect fraud or to examine the validity of evidence being investigated (p.8-9). Frisbey mentioned that forensic accountants should, for example,…

Introduction The nineties were a strange, almost fantastical time; new technology was being created, Presidents were playing the sax on television, and Bernard, informally known as Bernie, Madoff was serving as the NASDAQ chairman. Bernie climbed the economic ladder, eventually being in control of millions of investments in 2008 until it was found out that he had been the head of the largest Ponzi scheme in America. Madoff’s case is not only important to the how expansive it was, but how…

Annual Reports: For comparative ratio analysis, all of the financial reports of preceding three years 2014-2016 were downloaded from official sites of both the firms. Official Websites: The official sites of both the Delta Air Lines and United Continental Holdings were considered to acquire the authentic data for building portfolio information of the products, business objectives and history of the firms. Newspaper/Articles/Reports: Different Newspapers including USA Today, Telegraph, The…

Chasing Madoff Chasing Madoff is a 2011 documentary film by Jeff Prosserman, based on the 2010 memoir No One Would Listen: A True Financial Thriller written by the film’s arguable protagonist Harry Markopolos. Chasing Madoff examines Markopolos and his cohorts pursuit of now infamous ponzi schemer Bernard Madoff. Madoff robbed tens of thousands of people, of tens of billions of dollars. Investigative journalists from several large publications were sought out and tried to bring forward expose…

Andrew Leonard’s “Black Friday: Consumerism Minus Civilization” explains how Black Friday has gone too far in American society. He states that the nation has gone mad with Black Friday and companies know that people are so chaotic that they use the craziness as a tactic to lure customers in. Leonard has found videos and commercials online that are created to be crazy. Although Leonard knows Black Friday has unethical qualities, he does remind the reader that it is a huge day for the U.S economy.…

Bernard Madoff took notes from the Ponzi scheme originator, Charles Ponzi, by creating an investment Ponzi scheme. At the start of his career, Madoff was a broker who legally purchased and sold non-listed stocks on the New York Stock Exchange, soon he and his brother developed a technology that aided them in the competitive investment industry. Madoff’s Ponzi scheme was a continuous process of acquiring new investors’ funds, to pay the old investors’ promised 10-15% return on investments; all…

The crash had immediate effects on the New York Stock Exchange, being as it may that there was a staggering amount of sell orders in the previous week causing a few clerical errors that they needed to fix (Brennan 66). They had to make sure that everything was right and that they did not do anything wrong. The…

At the end of the 1920s there was a huge imbalance between the rich and the poor: 0.1 percent of society earned the same total income as the bottom 42 percent.6 This imbalance, combined with production of more and more goods and rising personal debt, would soon doom our country. When giving his state of the union address in 1928, President Calvin Coolidge remarked that "America had never been met with a more pleasing prospect than that which appears at the present time.”7 The next year,…