Assignment about Leadership Essay Example | Topics and Well Written Essays - 750 words

Assignment about Leadership - Essay Example This is the case with Benes. He had not bothered to know how Madoff made all the money. Due Diligence requires that every investor undertake an investigation that aims at gathering information on the actual risks involved when one is getting into any investment. It is clear that most of these feeder funds failed to do due diligence since they had so much faith in Madoff. It is said that Madoff was a successful party player in Wall Street and thus expected to have a pool of experience in stock trading. The single thing that actually made people believe so easily in him is the fact that the people who had already invested into his Company were making a lot of money consistently even when the market was down. Madoff also allowed them to operate without paying fees for their transactions, a move that enabled them to make a lot of money from numerous investors they had in their firms. This was bait since they saw they could earn even more money from these operations. It was also easy for people not to perform due diligence because many huge companies and prominent people had invested with Madoff. This made people trust in Madoff as an expert in his field. The study of Bernie Madoff scandal brings out a number of personalities about him. To start with, it is easier to say that He had a narcissistic personality since it is evident he was absolutely convinced that he was better than everyone else was. Looking at the whole scandal, we can only conclude that Madoff was a great liar. He deceived everyone. No one knew how the company made all those funds, starting from his family to the Government. He managed to deceive everyone for around 30 years Madoff operated his illegal business. He stole from so many people and did not care the harm he caused them, both financially and emotionally. This is also seen when Bienes firm was closed down after it was said it was an illegal firm. Bienes was