Bernie Madoff's story is a very interesting tale of greed and deception. The actions of him and many of his associates present interesting questions about the occurrence of crime in financial industries. The purpose of this essay is to analyze the behavior of Madoff and his involvement in his ponzi scheme. This essay will also investigate some of the laws that exist to control white color crime and contrast those laws to street crimes. Finally this essay will examine how cultural norms with regard to white-collar crime has shifted in the last decade and the impacts of those shifts.
Madoff's Behavior
It is impossible to understand totally what Bernie Madoff was thinking as he conducted his scam. It appears that greed and the desire to appear successful and rich may have contributed to his behavior. The upper echelons of society are very competitive and many will do anything to win. This appears to be a sociopathic type of behavior. Madoff seems to not trust the value of money and the trust of other people.
In some aspects, Madoff may have felt justified in his swindle. Many people seemed to hand over their money too quickly without vetting his methods beforehand. Madoff probably believed that these "suckers" deserved to be separated from his money. The AP (2011) reported that Madoff insists that the entire is a ponzi scheme; "He said in the New York magazine interview the Securities and Exchange Commission "looks terrible in this thing," and he said the "whole government is a Ponzi scheme."
It is clear that Madoff is attempting to remove responsibility from his own actions. This is understandably human, but...
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