Patrick Hill BUS 101 DF Mr. Rollins 26 January 2010 Bernie Madoff Affair 1) Critical thinking had a great impact on the Madoff Affair. The SEC had a critical thinking level of a “Confused Fact Finder.” They only looked for one answer and they did not “get” what was going on in the Bernie Madoff affair. The Investment Managers were “Biased Jumper” because they were able to stack up evidence why investors should invest in Madoff but did not understand the underlying scheme of things. 2) There are many ethical dilemmas that were committed in the Bernie Madoff affair. Bernie and his managers’ most prevalent ethical dilemma was the unauthorized use of someone else’s property. The firm took customers money and reported false earnings so it encouraged their customers to keep investing. This also falls under the dilemma of allowing false impressions, violating rules, condoning unethical actions, as well as taking unfair advantage. Bernie and his associates mislead the public by lying about earnings, the legitimacy of their business, their
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This document was uploaded on 11/01/2011 for the course BUS 101 at Miami University.