reaction paper for Madoff’s scheme.
Read NYT article, and write reaction paper.
Using all the information you now have, discuss in an short essay format
a) how networks played a role in Madoff’s scheme; i.e., what networks and how he used these
network connections and how these connections made this kind of fraud possible; b) what
purpose did the “hard-to-get’ strategy serve; c) what were the reasons behind the very slow fraud
detection, despite several reports to the SEC.
Use Granovetter’s arguments and lecture material to explain the sociological significance of this
story. Thus, do not simply retell the story; use Granovetter’s concepts to analyze the story