Madoff Questions 7th period

Ponzi schemers or CON men or woman are tricksters who pretend they have investments so that people can give them their money. Usually schemers are very well liked and respected throughout their community because you can't scheme someone who doesn't trust you, if they don't trust you they won't give you their money. 1st they pretend like they have a great investment and tell people they'll make a large amount of money if they invest(there's really no investment). The more people that trust the schemer with their money, the more investors the schemer will get and with the money they get from their new investors they pay their old investors.

I think that Madoff was able to keep his scheme going so long because he had so much investors that were putting so much money that he was able to pay most of his investors. So because he was able to pay most of his investors with large sums of money they really didn't expect that he didn't have an investment because how else would he be able to pay them their money if he didn't.

Usually Ponzi schemers are well liked people who are popular throughout their community. They are usually people that many like to be around and follow like a leader. They are very easy to trust and if you do become friends with them they make you feel like you're their best friend very safe and often times people are quick to listen to them and what they have to say. Many ponzi schemers have to be like this because as i said before they have to get people to trust them most of the time they start in their community where they can get peoples trust easily. They start with the people that are in their community getting their money, lying to them but still pretending to be charming and trust worthy. The more people that start to trust them in their community the more investors they get and that's when they start moving outside their community into different areas trying to gain the trust of others and get their money.

The SEC did not investigate Madoff because why would they investigate someone who was apart of their committee or board. Since Madoff was apart of the SEC he probably pulled strings so that he wouldn't get investigated and he probably had people working in his favor Paying them with $$$.

I think Bernie Madoff did this Ponzi scheme because he was money hungry and he wanted the "American Dream". once he started he couldn't stop because of greed so i think the only reason he did it was because he's money hungry and because he has a lot of greed.

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