Madoff Scandal

http://www.forbes.com/2008/12/12/madoff-ponzi-hedge-pf-ii-in_rl_1212croesus_inl.html

This article is about the Madoff scandal and talks about all the charities and schools that lost money because of this man's greed. He acted completely irresponsible and he damaged much of the goodwill provided many organizations ivested in him. Also the auditing company did not fullfill its regulations. As bad as I feel for the people who invested and lost money one must also be aware of anything that sounds too good to be true usually is. In their case they were recieving 10-12 percent returns for years (the early investors who did recieve money) which is much higher yields then normal. Pehaps these people put faith in the SEC and other government regulation programs to make sure everything that was going on was legit. Anyways nowadays everyone is trying a get rich quick scheme so investors should always be cautious and know exactly how their money is working for them. COMMENT.