Obama urges graduates not to follow Madoff’s path

May 14, 2009

91TEMPE, Arizona – President Barack Obama warned graduating students on Wednesday not to follow in the footsteps of swindler Bernard Madoff as they enter the workforce and look for jobs.
 
The U.S. president, delivering a commencement address at Arizona State University, told a crowd of tens of thousands that big money and fancy titles should not be a priority while the country faced recession and two wars.
 
“The leaders we revere, the businesses and institutions that last — they are not generally the result of a narrow pursuit of popularity or personal advancement, but of devotion to some bigger purpose,” Obama said.
 
“The trappings of success may be a by-product of this larger mission, but it can’t be the central thing. Just ask Bernie Madoff.”
 
Madoff, 71, pleaded guilty in March to operating a huge Ponzi scheme in which early investors are paid with money from new clients. He is likely to spend the rest of his life in prison.

Photo credit: REUTERS/Kevin LaMarque (Obama speaks during Arizona State University commencement ceremony, May 13, 2009)

2 comments

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Just because people are ambitious doesn’t mean they are going to be like Madoff.

I think that is a horrible message he gave students. They should strive to be all they can be. Everyone has different goals. Look at the president, he followed his goals. Others should follow what leads them. Period.

Posted by TC | Report as abusive

He should have said, Why are all you dummies going to work? Because I am going to tax the hell out of you so I can give it to me people who don’t work and sit on there butts all day. Because they deserve a better standard of living. Not all you hard working people. You know that working thing just is not for everyone, their trapped and need help. So get out there and get going you have a goverment to support.

Posted by shane | Report as abusive