Bernie Madofff Tragic Hero free essay sample

A tragic hero is a character of noble stature that commits an action or makes a mistake which eventually leads to his or her downfall. The idea of the tragic hero was created in ancient Greek tragedy and defined by Aristotle. Bernard Madoff, a former American businessman, stockbroker, investment advisor, and financier, fits the definition of a modern day tragic hero. Bernard Madoff grew up in New York City and studied law at Brooklyn Law School, but quit the first year to embark on his own investment firm. Using money he had saved from previous life guarding jobs, Madoff and his wife founded Bernard L. Madoff Investment Securities, LLC. The company grew a reputation for its annual returns of 10 percent or more and, by the 1980s, his firm was one of the largest firms trading on the New York Stock Exchange. Madoff created an impressive client list including stars such as Steven Spielberg, Kevin Bacon and Kyra Sedgewick. We will write a custom essay sample on Bernie Madofff Tragic Hero or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Madoff owned a yacht, several luxurious homes, and even had two private planes. He was completely living the wealthy and lavish lifestyle, which was soon to come to an abrupt end. In December of 2008, Madoff admitted that a branch of his firm was actually an elaborate Ponzi scheme. Madoffs sons reported their father to federal authorities and he was arrested and charged with securities fraud. He later admitted to losing $50 billion of investors money, and pled guilty to 11 felony counts including securities fraud, investment adviser fraud, mail fraud, wire fraud, three counts of money laundering, false statements, perjury, false filings with the United States Securities and Exchange Commission, and theft from an employee benefit plan. Madoff was sentenced to 150 years in prison on June 29, 2009, the maximum possible prison sentence. Bernard Madoff destroyed the lives of many in his relentless drive to get rich. Two years to the day that Bernard Madoff was arrested, one of his sons, Mark Madoff, committed suicide. Bernard Madoff can be compared to King Creon, from the play Antigone by Sophocles. Both Madoff and King Creon were well renowned and prosperous figures that were overwhelmed with pride that led to their destruction. Madoff blamed his pride, which would not allow him to admit his failures as a money manager, which ultimately led to the death of his son. By King Creons self pride deciding to never let his son Haimon marry Antigone, he ended up killing his son as well. After the death of their sons, Bernard Madoff and King Creon both acknowledged their great mistakes in being prideful and realized how their pride had caused suffering. King Creon fought to further protect his kingdom, while Madoff fought to protect his career, by doing so; they are both regarded as a hero. These elements combined with self pride make Bernard Madoff and King Creon examples of a true ancient Greek tragic hero.

Light and the Glory essays

Light and the Glory essays The United States Constitution has been the bedrock for the longest lasting government in all history. Why is it that our constitution still exists after more than two hundred years? Is it the incredible minds of those that framed it, or is it something else? In 1620, the Pilgrims departed from Holland and set out for America. Ten years later, they were followed by the Puritans. The Puritans and the Pilgrims experienced incredible hardships, which forced their reliance on God. There was little to eat, and shelter was no more than an uninsulated log cabin. As new generations grew up, they began to learn how to grow and harvest crops, which supplied them with plenty to eat, and comfortable lives. They did not have to depend on God for their survival. Gradually, as the people strayed further away from God, there began to be witchcraft and many people with no moral standards at all. These once godly people had forgotten how God had miraculously provided for their grandparents. By the mid 1700s, America was in desperate need of a revival. This burden was laid on a mans heart whose name was Jonathan Edwards. Jonathan Edwards, a graduate of Yale at seventeen, began and sustained a revival that changed the course of American history. Along with George Whitefield and countless other circuit riding preachers, Jonathan Edwards brought America down on her knees before God in repentance. America was indeed a new nation. It was about this time that America began to view itself as one nation, not just a handful of independent colonies. The only problem was that the Americans were not the only ones who had settled in the New World. They were bordered on the north and west by the French and on the south by the Spanish. If anyone attempted to settle on the west side of the Appalachian Mountains, chances of survival were slim because of hostile Indians and cruel French trappers. America was far from having e...

Capital Investment Essay Example | Topics and Well Written Essays - 2250 words

Capital Investment - Essay Example What market share the company enjoys? Some of the financials such as debt-equity ratio, earning per share, dividend payout, yield, current price-earnings (P/E) ratio, net profit margin, liquidity or quick ratio are calculated to look at the current state of the company versus others in the industry (Arnold, 2008). These ratios provide only current status of the company but it does not give information about future potentials. It is essential to know whether the company is growing and if yes, then at what rate? Does its growth rate exceed its rivals? Is the market share of the company rising or stable? Is the industry growing or stagnating due to the reasons that lie in external environments? No analysis is complete unless qualitative factors such as brand equity, quality of man power, research and development activities, patents owned and its future implications, the company’s image among stake holders in terms of its management, ethical business dealings and corporate social responsibility factors, the new markets discovered, new projects undertaken for growth are evaluated thoroughly though one many question about the tangibility of these factors; nevertheless, they are equally important. Investors tend to buy any stock because they see the potential of appreciation in its price; in other words, when the stock trades much below its real value also called the intrinsic value then it is a right time to buy the stock. Opposite is also true that when the stock price exceeds its intrinsic value then it is time to sell the stock; however, there are certain important questions to be asked whether calculated intrinsic value is correct and how long will it take to reflect the intrinsic value of the stock in the stock market. Timing is an important factor while deciding about the investment on fundamental factors (Bodie, Kane & Marcus, 2011). It will be interesting to know about the key investment secrets that Warren Buffet