Assignment
Read the following articles or other related articles regarding the Bernie Madoff case and then answer the questions below:
Jason Zweig, "How Bernie Madoff Made Smart Folks Look Dumb," Wall Street Journal, December 13, 2008
Zachary Goldfarb,."SEC Broadens Its Probe of Failures in Madoff Case," Washington Post, January 6, 2009:
Discussion Questions
1. In general, would you define Bernie Madoff's clients as sophisticated or naive? Why?
2. Whether you described Bernie Madoff's customers as naïve or sophisticated, what trait allowed his clients to become victims?
3. Why wasn't the Bernie Madoff scheme caught earlier?