Bernard Madoff

According to Ahamed what makes the Madoff scandal different from others?

• Those affected were "real people" not "impersonal institutions."

• Celebrates are only effected

• Jewish philantropists from the upper East side

Stock Market?

• a place where shares of a company are bought and sold

• an investment fund that invests large amounts of money using risky methods

• irregular rising and falling in number amount

Fluctuation?

• having the quality of being an obsessive observer of sordid or sensational subjects

• irregular rising and falling in number or amount

• unhealthy; gloomy or extreme

Travails means?

• gloomy

• wealthy

• pain and suffering because of hardship

• Travails

Why would the scheme the video outlines not make a profit?

• Other investors' money is the source of the profit

• A Ponzi scheme is the classic trick

• There would be a big profit to be made

• There would be no profit because you are not making money to buy anything; you're just giving it back

What usually happens to a Ponzi scheme?

• They make you a lot of money

• Ponzi schemes usually collapse after 1 year

• They are very successful

• High risk high reward

How much money did Bernard make off investors?

• $30 Billion

• $25 Billion

• $45 Billion

• $50 Billion

Even using the ____________ there was no way Madoff could achieve the consistent 10% gains.

• Ponzi Scheme

• collar method

• Classic trick

What is the central idea in the first paragraph?

• Public's fascination with the scandal, enjoyment we get from watching the "travails of the rich and famous. " Those who lost money were real people

• Public's fascination and reasons why he did it

• High profile cases and jail time. His son's turned him into the police

• Tricks of the trade and how he did it and got away with it for 20 years

Where did Madoff run his business?

• Rockaway Queens

• Miami, FL

• Lipstick Building, NY

• Boston