Friday, March 13, 2009

Lessons learned from the Madoff scandal

"Madoff was the chairman of Nasdaq."

from "Lessons learned from the Madoff scandal
Investors want to know how to avoid future Ponzi schemes"

http://www.msnbc.msn.com/id/29680828/

How can you learn from someone who himself saw the entire thing as a scam and was the chief scammer? The US needs to radically rethink how to do business from a revolutionary level, from the gut and at the heart. What we have is not working, and it is likely that the same thing will happen again as long as the stock market reigns with big business. It is gambling.

"Gambling is the wagering of money or something of material value on an event with an uncertain outcome with the primary intent of winning additional money and/or material goods." - Wikipedia

Clearly this is a question not just of business, big or small, but of ethics.

NASDAQ Stock Market - Stock Quotes - Stock Exchange News - NASDAQ.com
Mar 13, 2009 ... The NASDAQ Stock Market - Official site of The NASDAQ Stock Market featuring free stock quotes, stock exchange prices, stock market news...

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