Description: The Securities and Exchange Commission may create a “fraud college†to train staff in detecting market abuses after the agency failed to stop Bernard Madoff’s $65 billion Ponzi scheme, Chairman Mary Schapiro said.
Source: Bloomberg.com
Date: 9/03/2009
Keys: SEC, stock market, fraud
Link:Â http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aO6As7nsq.wo
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?
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