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Unformatted text preview: defense I feel badly for the victims of Mr. Madoff and there are many, many victims of this heinous crime. But I also feel badly for Bernard Madoff as well. I do not believe he intentionally set out to defraud his clients, at least not initially. Money is a corruptive element – only the most integrated of individuals can handle controlling large amounts of money and manage to keep their hands clean. That is part of he reason we need to have regulators and controllers built into the financial system. That is also why there always need to be checks and balances within organizations. Time and again we have seen people corrupted by money. It is a common theme throughout history. I don’t know the details of the road that lead Madoff to this inevitable tragedy, but I can certainly take an educated guess. The basic concept is that Madoff robbed Peter to pay certainly take an educated guess....
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- Spring '11