Impact on community.

Bernard Madoff's incredibly big ponzi scheme, impacted the whole economy in a big way. People who where affected by this issue are going to cut back their spending. People all around the community have lost consumer confidence due to the harsh economic conditions taking place. I personally know two individuals who had money invested in Madoff securities. I was unable to contact them nor talk to them about this issue because I believe this is a personal problem that nobody affected would like to talk about. But i have noticed that there behavior towards spending has changed dramatically. I do not know exactly how much money they lost but it should be more that the initial investment of a hundred thousand dollars. They lost consumer confidence and have cut back their spending.  And if they cut back their spending all of the economy will be affected in a certain way. 

I believe this is a very important and interesting topic because it is very recent and it explains part of the current financial situation.