About Me

Hey everybody! My name is Megan and I am a senior at my local high school. I am making this blog for my first accouting class. So far, I really enjoy this class! I am a very outgoing person that likes to meet new people. I love playing sports as well. I am a three sport athlete, but softball and basketball are my favorite sports.

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Thursday, November 17, 2011

Character Counts: Madoff Investment Scandal



"Madoff Scheme Kept Rippling Outward, Across Borders"

Usually when people invest money in a charity, they feel that they can trust their investment with the person in charge.  But in the Madoff Investment Scandal, this was not true.  In the beginning of this scandal, Benard Madoff started taking amounts of money from charities.  Eventually, he started to take money from country club investments.  His scandals slowly started to grow.  Has they grew, he and other investors went international.  Madoff and his investors first targeted Europe, then moved to Asia.  By the time all of his scandals were complete, fifty billion dollars were not accounted for, leaving investers broke.

Overall, I feel that any type of investment scandal is ridiculous (with the lack of a better term.)  I feel that it should be very hard for people to act as greedy as Madoff and his investors did.  Stealing money from charities and other non-profitable organizations is truly a heartless act.  I find it very hard to reason why a person would do such a thing.