1st reaction paper Academic Help

I’m working on a Sociology exercise and need support.

Don't use plagiarized sources. Get Your Custom Essay on
1st reaction paper Academic Help
This is a Snippet Preview Access a Complete Custom Written Paper Done by Our Expert Writers
Order Essay

1st reaction paper prompt

1. A little background:

A well-respected financier, Madoff convinced thousands of investors to hand over their savings, promising consistent profits in return. Madoff was an active member of the financial industry. He started his own firm in 1960 and helped launch the Nasdaq stock market. He sat on the board of National Association of Securities Dealers and advised the Securities and Exchange Commission (SEC) on trading securities. He was arrested in December 2008 after he went undetected for decades, even though there were multiple reports to SEC about suspicions about his practices. He was charged and convicted. Here’s how Madoff conned his investors out of $65 billion:

He used the money from new, incoming investors to pay off the promised returns to older ones.

This makes the operation seem profitable and legitimate, even though no actual profit was being made because there was no actual investment. Madoff pocketed the extra money. To avoid having too many investors reclaim their “profits,” he encouraged them to stay and earn even more money. The “investing strategies” used were vague and/or secretive. Madoff’s victims were not a random assortment of the well-off; he focused on the wealthy Jewish community and several Jewish charitable organizations. This was one of the worst affinity frauds (i.e., exploiting cultural connections and people’s communal identities to rip them off) in American history. Madoff did not just take anyone as a “client”; people needed recommendations and connections and Madoff turned many people away at first (“hard-to-get” strategy).

2. Read The NYT article carefully.

3. 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 retell the story; use Granovetter’s concepts to analyze the story.

The essay should be less than a page (about three quarters of a page, 12-point font, single spaced) and to the point; reference and analyze facts that further your argument and do not write about things that are not important for understanding the network issues.

My Academic Papers | Homework Papers
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.


Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.


Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.


Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.


Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.