Madof’s Scandal Essay Example for Free

Madof’s Scandal Essay In the first two weeks of December 2008, the stressed that 70-year old businessman, Bernard Madoff is suffering becomes apparent to his employees, most particularly to his two sons. It concerns a $7 billion redemption request that Madoff had been ‘struggling to obtain the liquidity necessary to meet his obligation’. This made them approach him directly what the problem is all about. The answer is unexpected. Prior to this incident, Madoff is well known throughout the world of economics and investment as a genius and a trustworthy owner of Madoff Investment Securities LLC. The firm is generally a broker-dealer and investment advisor concerned with the management of investors’ assets, giving advice to investment management and is associated with some nonprofit organizations (Helyar et al. , 2009). At the age of 22, Bernard Lawrence Madoff managed to build his firm from his $5,000 savings. Since its first few years in the business, Madoff’s Securities reputation was tantamount to success. Madoff also served as chairman of the board of directors of the NASDQ Stock Market (Byrne et al. , 2005). Madoff confessed, according to Theodore Cacioppi (BackgroundNow. com 2008), that ‘There is no innocent explanation’ pertaining to the fraud that he committed. Cacioppi’s testimony also revealed that Madoff stated to his ‘senior employees’ that he is already ‘finished’ and the firm is actually ‘one giant Ponzi scheme’. The Hennessee Group, represented by Charles Gradante, had also been suspicious of the Madoff’s success when their reports showed that Madoff’s only had 5 months down in a span of 13 years despite several market fluctuations and economic changes. Helyar and colleagues (2009) reported that Madoff’s strategy of split-strike conversion turns out to be front-running. This strategy involves â€Å"brokers’ for their own account†. This is known to be illegal yet Mardoff’s investors didn’t care. Helyar and colleagues believes that investors are concerned about the money they get. In my opinion, Madoff’s scandal opens the public’s eyes to the fact that cheating is indeed prevalent in the American Society. Even successful people cheat and are cheated. The effect cripples the economy and results to distrust. New policies are being and will be initiated to avoid and detect possible frauds. When I heard about the scandal, the first thing that came to my mind was the quote ‘when everything is going your way, you’re probably in the wrong lane’. Taken literally this indicates driving at the other side of the road. Nonetheless, another interpretation reveals that ‘everything coming your way’ resembles things are being ‘too good to be true’ or turning out as you expected. In the case of Madoff’s investors, they looked at the facts; they listen to what former investors say and followed that path expecting the same returns. Despite the fact that Madoff’s offer and profiles seem ‘too good to be true’. They grabbed the chance and hope for the best. At the end, it is the ‘wrong lane’ after all. Madoff fraud strategy is well-known as ‘Ponzi scheme’. This type of fraud had been in the business industry for several decades yet people still fell for it. The good promises are simply too great to refuse. These same things eluded logical thinking and provoke greed. The scandal affects the investors and their reputation. It also raised doubts regarding implementation of laws and economic policies. It posed new challenges for proper investment management and questions the liability of security firms. Moreover, it is not simply an issue of crime or fraud; rather it undermines societal values and trends. References BackgroundNow. com. (2008). Bernard L. Madoff Charged In Multi-Billion Dollar Ponzi Scheme. Retrieved on February 17, 2009 from http://books. google. com/books? id=m2_yfK582ukC Helyar, J. , Burton, K. , and Silver, V. (2009). Roots of a $50 billion Ponzi Scheme. Retrieved on February 17, 2009, from http://www. businessmirror. com. ph/index. php? option=com_contentview=articleid=5577:roots-of-a-50-billion-ponzi-scheme-catid=46:bloomberg-specialsItemid=70 McShane, L. (2008). Bernard Bernie Madoff: From Queens lifeguard to soaking fraud. Retrieved on February 17, 2009, from http://www. nydailynews. com/news/ny_crime/2008/12/13/2008-12-13_bernard_bernie_madoff_from_queens_lifegu. html Schwartz, R. A. , Byrne, J. A. , and Colaninno, A. (2005). Coping with Institutional Order Flow. Springer. US Security and Exchange Commission. (2001). â€Å"Ponzi† Schemes. Retrieved on February 17, 2009, from http://www. sec. gov/answers/ponzi. htm

Maslows Hierarchy of Needs and Education Essay example -- Education E

Maslow's Hierarchy of Needs and Education Walk through any school and one fact becomes strikingly clear, every student is different. Living conditions, health, and confidence are a few of the factors that vary dramatically from student to student. However, one commonality can be detected among all learners, they all have needs. Although many individuals might disagree on the importance of these needs, the needs themselves are apparent. One psychological theory, developed by Abraham Maslow, is that our needs can be arranged in â€Å"a hierarchy ascending from such basic physiological needs as hunger and thirst through safety and love needs to needs for esteem, and ultimately, self-actualization† (Mischel 211). Commonly known as Maslow’s hierachy of needs, this theory is based on the assumption that all people have the desire to maximize their potential and strive to do what they are capable of doing. Both maximizing potential and striving to find capability are important goals in education. In turn, if a student cannot sufficiently satisfy one of their needs in the Maslow’s hierarchy, they will never reach their full potential. In essence, educators must become familiar with Maslow’s hierarchy and be prepared to mold their classroom into an environment that allows students to fulfill their needs when other surroundings, such as homes or social settings, do not encourage or allow the satisfaction of needs. I, as a future educator, have developed methods and approaches for dealing with students who are deficient in areas of Maslow’s hierarchy. Maslow’s hierarchy of needs forms the shape of a triangle, with physiological needs placed at the bottom. Physiological needs include food, clothing, and sleep. Obviously, these ... ...needs are not being fulfilled. In essence, an educator will be more effective if they have an arsenal of approaches for dealing with students who are deficient in areas of Maslow’s triangle. Works Cited Jones, Michael. â€Å"Maslow’s Hierarchy of Needs Can Lower Recidivism.† Corrections Today 66.4 (2004) : 18–22. Kiel, Joan M. â€Å"Reshaping Maslow’s Hierarchy of Needs to Reflect Today’s Educational and Managerial Philosophies.† Journal of Instructional Psychology 26.3 (1999) : 167-168. Maslow, A.H. The Farther Reaches of Human Nature. New York: The Viking Press, 1971. Mischel, Harriet, and Walter Mischel. Readings in Personality. New York: Holt, Rinehart and Winston, Inc., 1973. Mischel, Walter. Introduction to Personality.4th ed. New York: Holt, Rinehart and Winston, Inc.,1986. Perks, Carol Ann. â€Å"Get a Life!†. Teaching Pre K-8. 30.1 (1999) : 74-76.

Fast food †Ice cream Essay

Almost everyone enjoys to eating fast food because it is cheap. Many people these days prefer to eat food that makes their food fast and also they do not have to spend more than five dollars. This nation is surrounded with fast food restaurants and there is no one way people can miss one down their street and in every mall. I work at the mall and I tend to eat fast food since it is the only thing near me. My three favorite fast food restaurants which are Wendy’s, Dairy Queen and Steak –n- Shake. One of my favorite fast food restaurants is Wendy’s. When I was in high school at the beginning of my senior year I worked at Wendy’s and of course I ate their food since I had a fifty percent discount so the food was really cheap. I always craved the spicy chicken nuggets with sweet and sour dipping sauce. Ever since I worked there I know how each dipping sauce taste when I always ordered the spicy chicken nuggets. I love the honey, barbeque, honey mustard, ranch and of course my favorite sweet and sour sauce. I also loved how my manager prepared the sweet tea because it was not too sweet and actually tasted like homemade sweet tea. I am a fanatic of sweet tea and pretty much have tried it at every fast food restaurant I have eaten at. Also I love to enjoy my combos with a dessert. I usually get a small chocolate frosty. I love the taste of it because it reminds me of chocolate milk. Also because it is very creamy and sweet this is a great combination for dessert. These are all the many favorite things I love to eat at Wendy’s. My second favorite fast food restaurant is Dairy Queen. They have the best desserts there such as the blizzards, the sundaes, banana splits, their famous waffle cone ice creams and the DQ ice cream sandwich. I always tend to eat the ice cream cones because I do not have to spend that much money the cones cost one dollar depending on the size. When I am at my aunt apartments my cousins and I always walk to Dairy Queen since it is not too far from the apartment just three to five minutes walking. We go there every time when we are hungry or we just go there to talk and eat some food. It also provides free internet which is great to check Facebook or our emails. Also it has a great video game player for when we bring our little sister and cousins so they will not get bored. Another reason I love eating at dairy queen is their chili cheese fried burritos. They are so delicious and juicy especially when they put the chili all over it and sprinkle some shredded cheddar cheese. I love to eat at Dairy Queen. My third favorite fast food restaurant is Steak-n-Shake. I always wish Mesquite had one but they do not so I have to drive all the way to Rockwall to go to Steak-n-Shake which is 20 to 30 minutes from my home. I love it there especially there juicy Cheddar Cheese Steak Burger combo which is good money spent because it is only $4. 99. I love how the food is very affordable and of great quality. I also love to get their famous milkshakes. My all-time favorite is the chocolate chip cookie dough. It has chunks of cookie dough mixed with tasty creamy vanilla ice cream. This fast food restaurant is not like not ordinary fast food place because it provides waiters and it provides amazing fast food service. It usually takes 5 to 10 minutes to have my food ready which overall is great. I never get tired of going to Steak-n-Shake because of its great quality of food and service. Fast food may not be good for us at times but it is delicious. All three of these fast food restaurants Wendy’s, Dairy Queen, and Steak-n-Shake are my favorite because reasons I enjoy eating their food. They all provide great quality of food, fast service and cheap prices. I enjoy these fast food restaurants.

The Great Gatsby By F. Scott Fitzgerald Essay - 983 Words

The 1920’s embodied a people who strove for wealth with complete disregard to the moral disgraces committed in the process of becoming rich. F. Scott Fitzgerald, the author of The Great Gatsby portrays the general feeling of the 1920’s through complex characters such as Jay Gatsby, Tom and Daisy Buchanan, and Nick Carraway. Fitzgerald uses symbols such as the billboard, the green light, and the valley of ashes to convey themes and propel the plot forward. T.J Eckleburg’s giant eyed billboard is an essential symbol in The Great Gatsby. Eckleburg’s watchful eyes are a representation of God that observe the people who live in East and West Egg and the valley of ashes. They convey themes like; even when a person perceives himself to be alone, someone is always silently watching. â€Å"The eyes of Dr. T. J. Eckleburg are blue and gigantic-their retinas are one yard high†¦. But his eyes, dimmed a little by many paintless days under the sun and rain, brood on over the solemn dumping ground† (Fitzgerald 27). In chapter seven, Tom, Nick, Gatsby, Daisy, and Jordan decide to go into the city on a hot day. On their way they stop at Wilson’s garage to get fuel. In the same day, Tom and George Wilson both discovered that their wives are having affairs with other men which creates tension between the characters. Dazed from the heat, Nick is overcome with the feeling that something is watching them. He turns to see w hat it is and notices Eckleburg’s massive eyes staring down at them. â€Å"HeShow MoreRelatedThe Great Gatsby by F. Scott Fitzgerald1393 Words   |  6 PagesF. Scott Fitzgerald was the model of the American image in the nineteen twenties. He had wealth, fame, a beautiful wife, and an adorable daughter; all seemed perfect. Beneath the gilded faà §ade, however, was an author who struggled with domestic and physical difficulties that plagued his personal life and career throughout its short span. This author helped to launch the theme that is so prevalent in his work; the human instinct to yearn for more, into the forefront of American literature, where itRead MoreThe Great Gatsby By F. Scott Fitzgerald1343 Words   |  6 PagesHonors English 10 Shugart 18 Decemeber 2014 The Great Gatsby F. Scott Fitzgerald s 1925 novel The Great Gatsby is a tragic love story, a mystery, and a social commentary on American life. The Great Gatsby is about the lives of four wealthy characters observed by the narrator, Nick Carroway. Throughout the novel a mysterious man named Jay Gatsby throws immaculate parties every Saturday night in hope to impress his lost lover, Daisy Buchanan. Gatsby lives in a mansion on West Egg across from DaisyRead MoreThe Great Gatsby By F. Scott Fitzgerald1155 Words   |  5 PagesThe Great Gatsby The Jazz Age was an era where everything and anything seemed possible. It started with the beginning of a new age with America coming out of World War I as the most powerful nation in the world (Novel reflections on, 2007). As a result, the nation soon faced a culture-shock of material prosperity during the 1920’s. Also known as the â€Å"roaring twenties†, it was a time where life consisted of prodigality and extravagant parties. Writing based on his personal experiences, author F. ScottRead MoreThe Great Gatsby By F. Scott Fitzgerald1166 Words   |  5 Pagesin the Haze F. Scott Fitzgerald lived in a time that was characterized by an unbelievable lack of substance. After the tragedy and horrors of WWI, people were focused on anything that they could that would distract from the emptiness that had swallowed them. Tangible greed tied with extreme materialism left many, by the end of this time period, disenchanted. The usage of the literary theories of both Biographical and Historical lenses provide a unique interpretation of the Great Gatsby centered aroundRead MoreThe Great Gatsby by F. Scott Fitzgerald845 Words   |  3 PagesIn F. Scott Fitzgerald’s novel, The Great Gatsby, colors represent a variety of symbols that relate back to the American Dream. The dream of being pure, innocent and perfect is frequently associated with the reality of corruption, violence, and affairs. Gatsby’s desire for achieving the American Dream is sought for through corruption (Schneider). The American Dream in the 1920s was perceived as a desire of w ealth and social standings. Social class is represented through the East Egg, the WestRead MoreThe Great Gatsby By F. Scott Fitzgerald Essay970 Words   |  4 Pagesrespecting and valuing Fitzgerald work in the twenty-first century? Fitzgerald had a hard time to profiting from his writing, but he was not successful after his first novel. There are three major point of this essay are: the background history of Fitzgerald life, the comparisons between Fitzgerald and the Gatsby from his number one book in America The Great Gatsby, and the Fitzgerald got influences of behind the writing and being a writer. From childhood to adulthood, Fitzgerald faced many good andRead MoreThe Great Gatsby By F. Scott Fitzgerald2099 Words   |  9 Pagesauthor to mirror his life in his book. In his previous novels F. Scott Fitzgerald drew from his life experiences. He said that his next novel, The Great Gatsby, would be different. He said, â€Å"In my new novel I’m thrown directly on purely creative work† (F. Scott Fitzgerald). He did not realize or did not want it to appear that he was taking his own story and intertwining it within his new novel. In The Great Gatsby, by F. Scott Fitzgerald, he imitates his lifestyle through the Buchanan family to demonstrateRead MoreThe Great Gatsby By F. Scott Fitzgerald1607 Words   |  7 Pages The Great Gatsby is an American novel written in 1925 by F. Scott Fitzgerald. One of the themes of the book is the American Dream. The American Dream is an idea in which Americans believe through hard work they can achieve success and prosperity in the free world. In F. Scott Fitzgerald s novel, The Great Gatsby, the American Dream leads to popularity, extreme jealousy and false happiness. Jay Gatsby’s recent fortune and wealthiness helped him earn a high social position and become one of the mostRead MoreThe Great Gatsby By F. Scott Fitzgerald1592 Words   |  7 PagesMcGowan English 11A, Period 4 9 January 2014 The Great Gatsby Individuals who approach life with an optimistic mindset generally have their goals established as their main priority. Driven by ambition, they are determined to fulfill their desires; without reluctance. These strong-minded individuals refuse to be influenced by negative reinforcements, and rely on hope in order to achieve their dreams. As a man of persistence, the wealthy Jay Gatsby continuously strives to reclaim the love of hisRead MoreThe Great Gatsby By F. Scott Fitzgerald1646 Words   |  7 PagesThe 1920s witnessed the death of the American Dream, a message immortalized in F. Scott Fitzgerald’s The Great Gatsby. Initially, the American Dream represented the outcome of American ideals, that everyone has the freedom and opportunity to achieve their dreams provided they perform honest hard work. During the 1920s, the United States experienced massive economic prosperity making the American Dream seem alive and strong. However, in Fitzgerald’s eyes, the new Am erican culture build around that