...Name AP Language and Composition 26 November 2015 Candidate, Bernie Sanders, in his presidential announcement, explains to his audience all he is willing to do as president. Sanders’ purpose is to persuade the audience to vote for him as president. He adopts a stern tone in order to appeal to the audiences needs and wants in his announcement speech. Sanders opens his speech by thanking everyone for their support. “Thank you all very much for the support that you have given me over the years as the mayor of this great city, as Vermont’s only congressman and now as a U.S senator.” He uses ethos to prove that he is credible and that he already has political knowledge on what needs to be improved and what needs to change. Sanders refers to his audience as, “My fellow Americans” and “Brothers and sisters” to imply that we are all equal and need to come together as one. When he moves on to talking about protecting our most vulnerable Americans he uses anaphora in his speech. “At a time when millions… water economically, at a time when senior… increasing, at a time when millions…living in dire poverty. By saying “At a time” it puts emphasis on the fact that, while there are Americans struggling, senior poverty is increasing, and millions of kids living in dire poverty, they are providing huge tax breaks for the wealthiest families and raising taxes on working families. This makes his speech more effective, which helps gain support for his campaign. Sanders’ diction is highly...
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...thrown into this world of big money, fast cars, and women. There were so many influences that affected the way they spent their cash. For example, these guys are thrown into this world as 18-21 year olds that many had never even cashed a check before. Before they even get that first check people are trying to take advantage of that, as agents and bad parents look out for their own interests. These agents take a big piece of the pie, and sometimes cycle money into personal investments without these young men knowing it. On the other hand, parents start taking money from these young men in order to pay off their mortgages and other debt that has piled up. Then the extended family and friends try to get a piece of the pie as well until, like Bernie Kosar, they end up paying for 5 mortgages or 25-50 people’s cellphones, etc. Besides the agents and parents that try to take money from these guys, there are women...
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...Innocent or Guilty: Bernie Ebbers Part in the Downfall of WorldCom The story surrounding the failure of WorldCom in the early 2000's is one that still haunts the financial market to this day. We often hear accounts of what happened within the telecom giant, but only one person could give a first-hand account of what she observed being the on the frontline and discovering one of the nation's biggest financial scandals of the last quarter century. Cynthia Cooper's account of her internal audit experience within WorldCom paints a bigger picture of what the scandal was like, how it was discovered, and who may have been involved. Even though we all know CEO Bernie Ebbers as the man behind the explosive growth of the firm, there still remains a lot of suspicion surrounding whether or not Bernie knew about the downfall of the firm. It is reasonable to believe that because he was WorldCom's main man, he would have known about the financial statement fraud that was occurring. But after reading Cooper's account of what occurred within the firm, I have to conclude that he didn't, in fact, know that CFO Scott Sullivan was instructing the accountants to cook the books. "Bert C. Roberts's testimony for the defense at Ebbers's criminal trial was in contrast to Sullivan's assertions earlier in the trial that he repeatedly told Ebbers in 2000 through 2002 that the company's accountants were making "adjustments that weren't right" in response to Ebbers's demands to "hit the numbers"...
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...Broadwater Farm riot From Wikipedia, the free encyclopedia The Broadwater Farm riot occurred around the Broadwater Farm area of Tottenham, North London, on 6 October 1985. The events of the day were dominated by two deaths. The first was that of Cynthia Jarrett, an African-Caribbean woman who died the previous day due to heart failure during a police search at her home. It was one of the main triggers of the riot in a context where tension between local black youth and the largely white Metropolitan Police was already high due to a combination of local issues and the aftermath of another riot which had occurred in the Brixton area of London the previous week following the shooting of a black woman (Dorothy 'Cherry' Groce) during another police search. The second death was that of PC Keith Blakelock, the first police officer since 1833 to be killed in a riot in Britain.[1] Contents * 1 Death of Cynthia Jarrett * 2 Day of disturbances * 3 Death of PC Blakelock * 4 Aftermath * 5 Trials * 6 Inquest * 7 See also * 8 References * 9 Bibliography Death of Cynthia Jarrett At 13:00 hrs on 5 October 1985 a young black man, Floyd Jarrett, was arrested by police, having been stopped in a vehicle with an allegedly suspicious car tax disc.[2] He was taken to nearby Tottenham police station and charged with theft and assault (he was later acquitted of both charges). Five and half-hours later, D.C. Randle and three other officers decided to search his...
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...Diyonka Massey Magan Calhoun AIS 3710 22 February 2013 Bernie Madoff Case Study Throughout history, people have done unethical things dealing with money. In 2008, the man known for running a massive Ponzi scheme, known as Bernie Madoff, was arrested and charged with criminal securities fraud, and sentenced for a hundred and fifty years in prison. Bernie Madoff continued his scheme for thirty years because his company was the largest market maker on NASDAQ. He had an impressive rate of returns that his firm earned annually, and the Securities and Exchange Commission did not oversee the stock market and protect investors. Madoff also had flawless credentials. His scheme was so clever that he knew he could only aim toward the investors that were unlikely to question his investment strategy. It affected his personal life, because he wanted to have a regular life like others and not have to live with his conscience telling him it was not right. Professionally, he had it made because everyone wanted to be a professional business man like him. Madoff’s investors kept the cycle going because they thought like every other person that gave their money to a man that they had never met. The society and business today has changed tremendously. Every business after Madoff Securities were given strict procedures they have to follow by the government. Madoff’s personal and professional characteristics made him become a better individual. It brought together buyers and sellers of investments...
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...Bernard Madoff Research Paper Bernard (Bernie) Madoff committed this century’s largest Ponzi scheme to date. First we will define Ponzi Scheme – it is a fraudulent pyramid scheme where original investors are paid their gains out of new investors money so it would appear to old investor that the scheme (business) is producing an unusually large return (Albrecht, 2009). The Ponzi scheme that Madoff created and pulled off for years was quite intricate. In a standard pyramid scheme each victim unknowingly brings in more and more victims, where as a Ponzi scheme has a single entity (group or individual) to keep up with and organize the fraud. The operator of the Ponzi scheme then will take new money brought in from recent investors and pay off previous investors. For this to continue on there must be a constant influx of new investors so there must be someone working that angle on a regular basis. Eventually the group of new investors will run out because the funds dry up. In a lot of Ponzi schemes when they begin to run low on victims things seem to fall apart and investors loose it all. In some cases the perpetuator escapes the area with all the money he / she have scammed. When or if they are caught the perpetuator will have to face prosecution and / or repayment of all money to victims and possible jail / prison time or pay restitution to the government. In some cases there are assets seized to reimburse victims and pay restitution (Smith, 2011). Madoff committed...
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...THE RISE AND FALL OF BERNIE MADOFF Bernadette Smith Business Law Professor Kopf 8/22/2010 Bernard Lawrence "Bernie" Madoff , born April 29, 1938 is an incarcerated former American stock broker, investment adviser, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history. In March 2009, Madoff pleaded guilty to 11 federal crimes and admitted to turning his wealth management business into a massive Ponzi scheme that defrauded thousands of investors of billions of dollars. Madoff said he began the Ponzi scheme in the early 1990s. However, federal investigators believe the fraud began as early as the 1980s, and that the investment operation may never have been legitimate. The amount missing from client accounts, including fabricated gains, was almost $65 billion. The court-appointed trustee estimated actual losses to investors of $18 billion. On June 29, 2009, he was sentenced to 150 years in prison, the maximum allowed. Madoff founded the Wall Street firm Bernard L. Madoff Investment Securities LLC in 1960, and was its chairman until his arrest on December 11, 2008. The firm was one of the top market maker businesses on Wall Street, which bypassed "specialist" firms by directly executing orders over the counter from retail brokers. On December 10, 2008, Madoff's sons told authorities that their father had just confessed to them that the asset management arm of his firm was a massive...
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...Bernie Madoff: An Issue of Ethics There are many ethical issues in the world’s news today, some bigger than others, and many that get swept under the rug. One particular ethical issue is at the core of a huge story that has dominated the news for months on end and has lead to more trying times on Wall Street. The story is about Bernie Madoff and the massive effect he and his ponzi scheme had on hundreds of people who trusted him. This paper will discuss the ethical issue underlying the conflict, the damage that resulted from it, and the leadership that acted to counter suit his disaster. Bernie Madoff’s ponzi scheme is sure to go down in history as one of the largest business scandals ever and should make every person stop and make sure there ethics are in check. Bernie Madoff exploited ethical theories much like a hawk swooping down to kill its prey. Bernie’s twisting of moral philosophy, virtue ethics, universalism and business ethics controlled both common and upper classes within predominately Jewish investors, prominent social groups, banks, successful foundations and charities. He wielded his genius in investments and securities tantalizing those who could not spot his cabal. Bernie’s acute cognizance of small investors and the ruling classe’s desire to believe in moral philosophic principles, rules, and values let to the contamination of right and wrong with financial deals earning him 50-65 billion dollars. Bernie literally earned the title of greatest Ponzi schemer...
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...MANUSCRIPT Hello everyone, my name is Nikolaj Bisgaard and I am an 18-year-old student from London. I have been invited to this conference to talk about riots. I want to talk about the reasons for the riots, which found place in London, and come with suggestions to prevent similar situations. The reason to the riots The reason to the riots in Tottenham were because of that an Afro-Caribbean man was killed by police, and the cops didn’t notify his family or provide a particularly convincing version of his death, but the riots in London had no link to the Tottenham riots, they just wanted to smash something and they just waited for an excuse. And they got their excuse, and they smashed a lot of buildings and stores. For underprivileged young people in Britain today, “there’s a sense of hopelessness,” says David Lammy, the M.P. from Tottenham, who was sounding the alarm about violent unrest months before the riots. “At the same time this happened in Tottenham, we got the best [school test] results that we’ve ever had. Those young people, they need to know that they can make it. The jobs need to be there. The prospect of going to university needs to be there.” I understand David Lammy, because the youngsters are forced to go to school, especially by their parents. And the young people want to know that it is good for the future and that it will help them get a good payed job. What can be done to prevent similar situations in the future? So what can be done to prevent similar...
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...Like a Duck” Assignment 2 – Bernard Lawrence “Bernie” Madoff Business Law I March 4, 2011 Bernard Madoff Abstract Unethical behavior…sounds bad doesn’t it? But what employee can truly say that he is completely innocent of any unethical behavior in the workplace? Some of the most common unethical business behaviors are fudging work hours, making phone calls on business lines and photo copying of personal paperwork. Simple acts such as these are highly unlikely to have an employee face criminal charges but when the acts of embezzling money or falsifying business records are committed a company is more apt to prosecute. People have different views regarding what is ethical and what is unethical. Some feel that it’s okay to tell a little "white lie", or to make a quick long distance call on the company's dime, as long as they are not hurting anyone. In the case of Bernard Madoff unethical behavior crossed over from gray to definite black and white. The world Bernard Madoff offered to his investors was just too good to be true but because things were covered up and made to appear more than what they were he was able to roll out the red carpet of capital promises and people came running to be included at the party. Mr. Madoff was certainly an equal opportunity crook, he took advantage of everyone, and the only prerequisite was to have money. Influential people from all walks of life found themselves mesmerized by “Uncle Bernie” and invested millions of dollars, failing...
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...Bernie Madoff Research Project Abronia S. Young D03202587 On March 12, 2009, Madoff pleaded guilty to 11 federal offenses, including securities fraud, wire fraud , mail fraud , money laundering, making false statements, perjury, theft from an employee benefit plan, and making false filings with the SEC. The Fraud In March 2009, Madoff admitted that since the mid-1990s he stopped trading and his returns had been fabricated. Madoff's sales pitch, an investment strategy consisted of purchasing blue chip stocks and taking options contracts on them, sometimes called a split-strike conversion or a collar. Typically, a position will consist of the ownership of 30–35 S&P 100 stocks, most correlated to that index, the sale of out-of-the-money calls on the index and the purchase of out-of-the-money 'puts' on the index. The sale of the 'calls' is designed to increase the rate of return, while allowing upward movement of the stock portfolio to the strike price of the calls. The puts, funded in large part by the sales of the calls, limit the portfolio's downside. Rather than offer high returns to all comers, Madoff offered modest but steady returns to an exclusive clientele. The investment method was marketed as too complicated for outsiders to understand. He was secretive about the firm’s business, and kept his financial statements closely guarded. One of the most prominent promoters was J. Ezra Merkin, whose fund Ascot Partners steered $1.8 billion towards Madoff's...
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...Bernie Madoff Andrea L. Nolt Strayer University Intro to Business Professor Karina Arzumanova August 21, 2011 Bernie Madoff Bernard Lawrence “Bernie Madoff” is an American former stock broker, investment adviser, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history. (Bernard Madoff, 2011) This paper discusses the massive Ponzi scheme that Mr. Madoff created and those that were affected by it. 1. Describe three types of illegal business behavior alleged against Mr. Madoff and for each type of behavior, explain how the behavior is illegal or unethical in the conduct of business. Madoff reportedly admitted to investigators that he had lost $50 billion of his investors' money, and pled guilty to 11 felony counts—securities fraud, investment adviser fraud, mail fraud, wire fraud, three counts of money laundering, false statements, perjury, false filings with the United States Securities and Exchange Commission (SEC), and theft from an employee benefit plan—on March 12, 2009. (Biography, 2011) Mail fraud includes any scheme that attempts to unlawfully obtain money or valuables in which the postal system is used at any point in the commission of a criminal offense. (Mail fraud, 2011) By using the postal system for any of his illegal activities, he was committing mail fraud. Mail fraud is protected by the United States Code. Madoff also admitted to money laundering. Money laundering...
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...Sometimes someone can be really weird and not understand what is going on in the real life. Just imagine a personbecame a social problem for the state and we had to do something about it by putting the person at a mental hospital. It would not help anyone by it unless someone knows the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem the problem...
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...Bernie Madoff and The SEC Bernie Madoff is the face of multi-billion dollar Ponzi schemes that swindled money from investors. Madoff was a prominent member of the securities industry throughout his long career. He once served as a vice chairman of NASD, a member of its board of governors, and a chairman of its New York region. Also, he was a member of the NASDAQ Stock Market board of governors and its executive committee and served as a chairman of the trading committee. His own investment advisory firm, Bernard L. Madoff Investment Securities LLC, was founded in 1960. A Ponzi scheme is “an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors.” (US SEC, 2012) The organizers of such schemes, promise to invest their funds properly into new opportunities that have the chance to generate high returns with little to risk. Usually, the organizers look for new investors to make the promised payouts to those early stage investors. They can also use this money for personal expenses, instead of using it legitimately for investment activity. In 2008, the Securities Exchange Commission found Bernie Madoff and his investment firm guilty of securities fraud for the multi-billion dollar Ponzi scheme he ran on clients of his firm for years. “The SEC filed emergency motions to freeze assets and appoint a receiver, and worked to return as much money as possible to harmed investors.” US SEC. (2012) Madoff is now serving...
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...Madoff's 55-foot fishing boat, “Bull”. The $17.1 billion that Mr Madoff claimed to have under management earlier this year is all but gone. His alleged confession that the fraud could top $50 billion looks increasingly plausible: clients have admitted to exposures amounting to more than half that. On December 16th the head of the Securities Investor Protection Corporation, which is recovering what it can for investors, said the multiple sets of accounts kept by the 70-year-old were in “complete disarray” and could take six months to sort out. It is hard to imagine a more apt end to Wall Street's worst year in decades. The known list of victims grows longer and more star-studded by the day. Among them are prominent billionaires, including Steven Spielberg; the owner of the New York Mets baseball team; Carl Shapiro, a nonagenarian clothing magnate who may have lost $545m; thousands of wealthy retirees; and a cluster of mostly Jewish charities, some of which face closure. Dozens of supposedly sophisticated financial firms were caught out too, including banks such as Santander and HSBC, and Fairfield Greenwich, an alternative-investment specialist that had funnelled no less than $7.5 billion to Mr Madoff. Though his operation resembled a hedge-fund shop, he was in fact managing client money in brokerage accounts within his firm, seemingly as Merrill Lynch or Smith Barney would. A lot of this came from funds of funds, which invest in pools of hedge funds, and was channelled...
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