Bernie Madoff, and the creation and subversion of regulatory authority. (1st January 2013)

• Record Type: Journal Article
• Authors: Forbes, William
• Is Part Of: International journal of behavioural accounting and finance. Volume 4:Number 1(2013)
• Page Start: 74
• Page End: 91
• Publication Date: 2013-01-01
• Subjects: financial regulation -- capture theory -- breach of trust -- Bernie Madoff -- regulatory authority -- government action -- fraud -- malpractice; Accounting -- Psychological aspects -- Periodicals; Business enterprises -- Finance -- Psychological aspects -- Periodicals; Investments -- Psychological aspects -- Periodicals; Organizational behavior -- Periodicals; 657.019
• DOI: 10.1504/IJBAF.2013.057362
• Languages: English
• ISSNs: 1753-1969

Abstract

This paper revisits the Maddof ponzi scheme scandal to illustrate two themes. The first the extent to which government action creates the malpractice it will later investigate and censure. Secondly, the extent to which the affinity between Maddof and his victims, who were often fellow Jews, indicates the role of trust and its breach in the growing incidence of such crimes.