PHI 2397 Lecture Notes - Lecture 15: Ponzi Scheme, Livent, Mci Inc.

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Agenda for th oct 14; in order of numbers. Governance; government regulation: sec and madoff ponzi scheme. Added by prof: new regulation -sox- in wake of enron and worldcom. Added by prof: the later regulation, dodd-frank 2010, re global crisis: more by prof, corp. Governance, general/background and livent case, added by prof: "employee voice in corporate governance", text, pp. "groups urge biden to nominate fcc commissioner to speed net. "what the end of u. s. net neutrality means for [canadian] users", site on syllabus. "why bill c-10 undermines the government"s commitment to [ ] net. "ponzi scheme" : bernard madoff and sec [sources below] Madoff: prominent on wall street, former chair of nasdaq (stock exchange) Apparently exceptional as investor; fund much in demand. Consistent, higher than normal annual returns to investors. 2007-08 economic crisis: investors need money, seek to cash out. Dec 2008 fund revealed not actually investing ponzi scheme. Investors $ wiped out : wealthy and not; charities, universities.

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