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Refer to page 228 in the text and read “Financial Follies:

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Refer to page 228 in the text and read “Financial Follies: Scam of
the Century: Bernie Madoff and the $50 Billion Fraud.” Discuss how Madoff was able to perpetuate the fraud. What does this say about human nature?
Discuss the role of the regulatory agencies and the reasons for their not detecting the fraud. Analyze the impact of this type of fraud on the US economy.

 
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