Description: The Securities and Exchange Commission may create a â€œfraud collegeâ€ to train staff in detecting market abuses after the agency failed to stop Bernard Madoffâ€™s $65 billion Ponzi scheme, Chairman Mary Schapiro said.
Keys: SEC, stock market, fraud
Questions for discussion:
- Do you think this effort will help prevent abuse?
- How would you police fraud in financial services? Explain your thinking?
- To deter fraud, would you encourage imprisonment or financial punishment for criminal wrongdoing? Explain your thinking.
- What would your approach be for dealing with someone like Bernard Madoff?