Preview

Aquinas Natural Law vs Madoff

Satisfactory Essays
Open Document
Open Document
440 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Aquinas Natural Law vs Madoff
James Wilson
Dr. Sprey
Core 4
Moral Dilemmas

Many of Thomas Aquinas moral ethics are still relevant today in the United States simply because the natural and human laws are apart of the US Constitution which applies to everyone in the American society. Aquinas simply states a right or wrong solution to his models using works from Aristotle and the bible to justify the three laws he applies. Theft and robbery were acts that went against the natural law. Bernie Madoff was guilty of violating his human rights of the natural law by committing Theft, and Fraud. Bernie Madoff was a well-known and respected stockbroker who committed the largest white-collar crime in Wall Street history. Madoff was found guilty for eleven felony counts and sentenced to 150 years in jail. Madoff used a ponzi scheme to collect investors money giving the investors intentions each person would be promised a gain of ten percent or more. Madoff greed not only affected the rest of his life in a horrific way but it also affected the common good of the community. Aquinas believed that natural law is the same for everyone because as people we all share a common human nature. Aquinas was a firm believer that overall human nature was good, he felt that being knowledgeable and harmonious developed a healthy social life. In the beginning of Madoff’s career from the outside looking in it looked as if he had good intentions while he was working his way up the corporate ladder. Once he graduated from Hofstra University with his bachelor’s degree in political science he landed him in a job in the Manhattan stock market. Madoff was a hardworking employee and was well respected and liked among his colleagues and employers. Madoffs work eventually payed off as he used computer technology to develop stock quotes and developed the National Association of Securities Dealers Automatic Quotations. Madoff became the president of the NASDAQ and served on the board of the stock exchange. Madoff in the

You May Also Find These Documents Helpful

  • Good Essays

    The Bernard Madoff “Ponzi Scheme” scandal was the biggest and lasted the longest financial fraud in the history of the US. Bernard Madoff was a financial adviser, and also the former chairman of the NADAQ. He established his investment firm named “Bernard L. Madoff Investment Securities LLC” in 1960. The Madoff Fraud is a typical “Ponzi Scheme”, in order to attract investors to give money to him, he convinced people to hand over their life saving, and promised them high returns rate, and then he used these money to make payments to those earlier investors. He took the investors for a $65 billion over the course of nearly two decades. In the end, Bernard was sentenced to maximum 150 years prison life and a forfeiture of $170 billion.…

    • 324 Words
    • 2 Pages
    Good Essays
  • Good Essays

    In the case of Bernard Madoff, an overview was provided that describes the fraud of the century. As a result of the Ponzi scheme, social attitudes toward the investment industry were lukewarm. I will describe the highlights of the case.…

    • 396 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    In addition to The Economic Entity Assumption was a principle that continued to be violated throughout Madoffs operations. Transactions have to be recorded correctly while booking, including keeping certain transactions separated if its not related to the business. You should never mix your personal transaction with your business transactions. However, Madoff was no stranger to breaking this accounting principle. He over the years he made several transactions that would be considered unethical, because funds for business was used for personal use. accounting rule. In the article "Too Good to Be True" "Madoff began regularly wiring money to the London office to pay for personal luxuries. He purchased the $7 million Leopard Yacht in the…

    • 187 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Bernie Madoff is known as The Great Ponzi. Bernie Madoff is a former American businessman,…

    • 349 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Bernard L. Madoff (Bernie) is still making news headlines. He is currently incarcerated for numerous illegal and unethical behaviors. I am going to: Describe three types of illegal business behavior alleged against Bernie and explain how the behavior is illegal or unethical. Name three types of parties who were impacted by the actions of Bernie and how. Describe three business safeguards that may have prevented the harm caused by Bernie. Describe three ways investors might have better protected themselves from risk. Describe three legal actions that possibly may be brought against Bernie under criminal or civil law. And provide an analysis…

    • 1722 Words
    • 7 Pages
    Better Essays
  • Satisfactory Essays

    One hundred and fifty years in prison. Shame brought to his family for bankrupting so many friends. Suicide by his son. These are the costs Bernie Madoff incurred for running a decades-long Ponzi scheme that appropriated an estimated $18 billion from investors. If Madoff was just maximizing his income, then why did so many cheer when he did the "perp…

    • 61 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    2. Was Madoff’s scheme “extraordinarily evil” as the judge claimed? Yes, Madoff knowingly collected the life savings from people, including close friends, to support his own wants in life. When the charade was finished, many lost everything they had.…

    • 701 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Bernie Madoff did not work alone. One reason is because a scheme of this magnitude would have been difficult for one man, even one as smart as Madoff, to pull off alone. Because of his long career and the amounts being traded at the end of 2009, the probable answer is that some people involved with Madoff were knowingly skirting financial rules and procedures. Some should be made aware of the legal fuzziness that exists within the financial sector. Such fuzziness has, in part, been deliberately created either by rule omissions or by tactics that circumvent such rules. The SEC cannot hold individuals criminally liable for breaking SEC rules. The SEC can fine companies and ostracize people and firms from publicly trading on financial exchanges, but that is all.…

    • 282 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Bernie Madoff Essay

    • 203 Words
    • 1 Page

    Bernie Madoff held numerous high profile positions in the stock market community. I would even go as far as to label him as the master of networking. After graduating from Hofstra College, he marries his high school sweetheart, and proceeds to work for his father-in-law’s accounting firm as an investment advisor (Gaviria, Smith, & McCoy, 2009). As Madoff’s trading business grows over the next several years, he joins multiple committees as he begins to fight for regulatory changes in order to make trades easier and more convenient, not to mention he had been in business for decades. This gives Bernie Madoff the persona that he is educated, responsible, and respectable; which leads his to be trusted by many investors. (Ferrell, Fraedrich, &…

    • 203 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    One of the most well known schemer and criminal of the white collar field was Bernie Madoff. The chameleon created an impression of being a nice and caring person at work, but ironically, deep down inside he was a deranged money hungry criminal. Many people could not believe the news they were hearing after he had confessed to the crimes he committed because he was really good at hiding the true person he was. He was a master at impression management. Quoted from Diana Goldberg “He was a hero to us, the head of NASDAQ. We were proud of everything he had accomplished”. They believed in him, he gained everyone’s trust by manipulating…

    • 1418 Words
    • 6 Pages
    Better Essays
  • Powerful Essays

    No One Would Listen

    • 1165 Words
    • 5 Pages

    This book brought out the failures of the Securities and Exchange Commission (SEC) in one of the biggest Ponzi schemes in America’s history, as orchestrated by Bernie Madoff. Harry Markopolos caught up with Madoff’s Ponzi scheme earlier on in his career and saw all the red flags. There was no explanation of the continuous one percent yield in over forty five stocks that Madoff dealt with. Madoff took advantage of the laxity by the SEC officials in failing to follow up complains with an investigation, and the trust bestowed upon him by the high and mighty. As long as the public saw paper trail provided by Madoff that the stocks were continuously yielding dividends, there was no cause for alarm. The few people that realized that Madoff was actually pushing a Ponzi scheme alerted the appropriate authorities which in turn let Madoff off with a slap on the wrist. The SEC went to investigate Madoff in his building on the 18th and 19th floor but missed a whole 17th floor where the scam was mainly doing its operations. Over a period of nine years Markopolos alerted the SEC five times about the Ponzi scheme that Madoff was running, but they caught up with him when most of the money was already spent lavishly in gifts and exorbitant parties.…

    • 1165 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    Bernie Madoff Ethics

    • 1459 Words
    • 6 Pages

    This paper will discuss the matters of Bernard “Bernie” Madoff. Are his actions to be deemed unethical, immoral, or both immoral and unethical? Madoff plead guilty to conducting his $65 billion Ponzi scheme. This in turn led him to be charged with several counts of money laundering amongst other things. His world came crumbling down around him the day after the company’s Christmas party in December of 2008.…

    • 1459 Words
    • 6 Pages
    Good Essays
  • Good Essays

    In my essay I shall discuss Aquinas’ understanding that blame is excusable due to ignorance if and only if they are involuntarily ignorant. I shall outline Aquinas’ understanding of voluntary ignorance and involuntary ignorance as an excuse from blame. Then I shall analyse this view, and conclude that whether or not the individual is blameable can, in some cases, only be prescribed by the individual.…

    • 1843 Words
    • 8 Pages
    Good Essays
  • Powerful Essays

    Bernard Madoff

    • 1489 Words
    • 6 Pages

    In court, he stated that he began by promising strong returns even though the stock market was not doing very well and the country was in a recession during the 90’s. Bernard L. Madoff Investment Securities LLC was his firm that was used to con thousands of people out of their money, some of the funds provided by his customers were, life savings or retirement funds. Madoff was not shy to admit that he knew the day…

    • 1489 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Bernie Madoff was able to swindle hundreds of people into investing money into a ponzi scheme,money that they would never see again. Madoff went years without going detected, until he was arrested in 2008 with a 150 year sentence for owing the many of the wealthy class over $40 million. Although both Macbeth and Bernie Madoff seem like polar opposites they have a lot more in common than many would think. First of all, these,two men committed crimes when they least needed to. “ The story Madoff told me is that he became a criminal near the peak of his legitimate success” (free at last). Same as Madoff, Macbeth began killing innocent people at a time when he least needed to; at the time he was a brave and noble warrior with much ahead of him but instead he chose to go down a dark and deceitful path. Secondly, both deceived many people, by lying and charming citizens “After Bernie’s arrest the first term that came to me to describe is that I'm living in the matrix… He manipulated everybody” (The madoff five). Thirdly, not only were both men corrupt in their actions but also their egos “ Even in prison Madoff refused to sign anything. He wasn't going to dilute the brand. He was sure they were going to sell it on EBay, he still did have a big ego” (Free at last). Also, both characters were left to dig their own holes from the stress and anxiety they had been building up from keeping all of their secrets. “For Bernie Madoff, living a lie had once been a full time job. Which carried with it a constant nagging anxiety. It was a nightmare he said” (the Madoff tapes). Lastly towards some part in their live they seemed concerned with the life they had been leading and their fruitless attempts of corruption. Madoff cries “ How could I have done this? I was making a lot of money.…

    • 1192 Words
    • 5 Pages
    Good Essays