A Business Man Who Made Unethical Business Decisions Essay

A Business Man Who Made Unethical Business Decisions Essay

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Bernie Madoff, villain or simply a business man who made unethical business decisions. This is a question that many people have asked since he was caught and sentenced for perpetuating a global Ponzi scheme. What we do know is that Madoff’s unethical actions led to the cash losses of at least $20 billion for his clients. This caused the financial devastation of pension funds, hospitals, and universities across the globe. His actions had a devastating affect not just on the social elite but nonprofit organizations and working class people looking to retire to name a few. He wasn’t thinking about the well-being of others while making the decision to carry on taking people’s money even though he knew he couldn’t produce the returns he promised to investors. Madoff’s choices radically affected the lives of thousands of people: investors, businesses, employees, Wall Street, schools, nonprofit organizations, retirees, and the communities in which these people live. The people who were affected were not just those directly investing with Madoff but whole communities.
In my opinion Bernie Madoff is a villain, he didn’t show an ounce of “personal integrity” when making the decision to lie and propagate a Ponzi scheme that cheated thousands of their money. Madoff didn’t show remorse for his decision when finally sentenced and confessed with pride to his crime. He held positions of power and was respected in investment circles. He was elected to NASD advisory council which he served on the council for four years and he also sat on numerous NASD committees and task forces, chairing several. We as a society expect people in these positions to act responsible and ethically when making decisions that will affect many people. We as a society hol...

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...et greed led him to a life of unethical behavior. If the SEC had done their job right the first time Madoff would have been arrested years before he actually was and stopped the massive devastation that followed. In civil law there is a real sense that one has not done anything illegal unless and until a court decides that one has violated a law. In this case Madoff was never charged in any wrong doing until it was too late and by then the devastation was colossal. It’s amazing that one man could cause such destruction and show no remorse for his actions. To Madoff money meant more to him then acting ethically and socially responsible. He knew one day his actions would be discovered and affect many people negatively even his own family. He simply didn’t care about anyone except himself. He truly had no conscience and his actions showed how despicable he really was.

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