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: Conglomerate

New Paper on SSRN: Evil Has a New Name (And a New Narrative): Bernard Madoff

By Gordon Smith, Christine, Hurt, Vic Fleischer, Fred Tung, Lisa Fairfax, David Zaring

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As the symposium issue for the Michigan State Law Review is being shipped off for printing, here is the SSRN version of my contribution to this inquiry on the intersection of corporate law and narrative:  Evil Has a New Name (and a New Narrative):  Bernard Madoff.  I had great fun writing it and delving into all public facts of both Madoff's scheme and Ponzi's scheme to juxtapose the two crimes.  I had less fun but more fascination in reading all of the Madoff victim statements in order to understand how the victims formed the narrative and how the narrative drove the resulting legal consequences and reforms.  I hope you enjoy it as well.

Though we have to freeze articles at some point, if I could have continued inserting interesting factoids up until publication, I would have added these two nuggets.  First, at least one set of Madoff grandchildren have changed their last name, at their mother's request and with no objection from their father, Mark Madoff.  Second, having been sentenced to 150 years in jail with no hope of parole in his lifetime, Madoff has no incentive to show false remorse and so has shown public scorn for his victims, noting that they were rich and greedy and that he made them a lot of money for 20 years.  Apparently living a double life wears on a person.

Full post as published by Conglomerate on August 26, 2010 (boomark / email).

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