Name Email Address: Mobile Phone Number: Student ID #: Date Course Section/# Global Financial Crisis and the Ramifications and Impacts upon Ethics and the Development of Ethical Behavior Table of Contents I. Introduction II. Background and Analysis of Causal Factors and Precipitators III…
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As such, this brief paper will analyze some of the ways in which this researcher believes it could have ultimately been prevented, the means whereby ethical standards were violated. Although it is oftentimes noted that hindsight is 20/20, it is worth discussing these mechanisms as a function of gaining a further insight into the way that the market works and seeking to prevent a similar situation occurring within the future. Due to the high level of understanding that current economists have with regards to the Great Depression, many forms of protection have been placed within the current economy as a means of ensuring that the same type of catastrophe, based on the same causal factors, does not occur within the current market. However, these forms of protection were not always present and it can be effectively argued that these were some of the main reasons why the crisis itself was able to be perpetuated and had such long and damaging effects. Finally, as a function of understanding the crisis, what precipitated it, and what furthered it, this analysis will devote a degree of time to analyzing behavioral bias that existed within the system. Background and Analysis of Causal Factors and Precipitators: As such, it is necessary to know, understand, and discuss the forces which could have prevented or at least greatly assuaged the crisis as it has been presented to the financial markets and subsequent global economies over the period of the past 5 years time. In this way, such an exploratory look into the realm of the financial crisis and its subsequent aftermath can allow for a more informed understanding of how the crisis itself could have been prevented as well as the formulation and creation of new and insightful ideas within the reader with regards to how such a situation might be stopped in the future. The first aspect of anticipation and reduction to the crisis came as early as the mid to late 1990s when a number of lawmakers and political analysts began to make a series of warnings concerning the untenable nature of the ways in which the financial sector was being deregulated (Liang, 354).1 Although this deregulation has been attributed to both sides of the political spectrum, in all fairness it can be assumed from a moderate interpretation that both sides were complicit in the wholesale deregulation of the financial sector which ultimately caused the collapse of the real estate bubble (The Banking Crisis 9).2 Moreover, the first real and measurable signs of impending difficulties on the horizon were first demonstrated around the year 2006 when the Department of Commerce noted that new home permits had dropped an astounding 28% (Hsu 497).3 Normally incremental increases and/or decrease in the reduction or expansion of new home permits are little cause for alarm; however, when something as earth shattering and innately odd as nearly a 1/3 reduction in the demand for housing should have been a major red flag to the Federal Reserve as well as the entire regulatory system. However, rather than heed such a statistic, the Federal Reserve remained unrealistically optimistic regarding how the economy would likely behave over the next several months and years (Horner 33).4 This allowed for the current situation to continue to extend itself for approximately another 2 years time before the final result of such a failure in oversight and monetary policy was noted by the stock market in the painful round of
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It is considered to be legal by most countries, but only in the case that it does not harm the company and its profit making in any way. The insider traders are mostly the officers, key employees, directors and other shareholders who may gain such authentic information. But this very term, insider trading, also have negative connotations
The impacts of the global financial crisis were so immense that the global economy was not able to maintain its traditional growth and development. This decrease was largely contributed by numerous factors. In the United States of America, the real estate property was over-invested and the issue of sub-prime loans also emerged.
It was not until after World War II that the United States would emerge as an unchallenged superpower and economic force. In 2008 the United States experienced a recession nearly on the scale of the Great Depression. Termed the Great Recession by some, this economic collapse would again shake the country’s very foundations and lead many Americans and politicians to question the very structure of Wall Street.
Changes in corporate governance
Besides corporate governance, management of the culture and language used for communication within the organization plays a very important role in the success of the institutions in the long run (Solomon, 2007). After the banking industry faced the effects of financial crisis, several research works were made on the influence of language and culture of the organizations.
The reasons that had led to the Recession have been discussed in details. The key reason for the crisis was the bursting of the housing bubble in the United States. The empirical data and analysis of the factors that had led to the crisis has been covered.
This calls into question the adequacy of banking regulation both at the national and international scene. (Avgouleas, 2008). For example, Northern Rock, a medium-sized Mortgage provider in the UK almost collapsed as a result of the credit crunch. In like manner, Bear Stearns an upper tier US investment bank was only rescued from the crises by the Federal Reserve Bank.
Record numbers of people have lost their jobs in the past year and a half.
I have taken up the global financial crisis as my focus of discussion. The essay has been structured into three parts. The first part explains what recession is. The second part analyses the causes for this economic downturn and the third portion is where I have tried to provide some solutions that might help preventing the situation in the future.
This paper argues that due to ill-advised economic policies, businesses suffered, the housing market failed, and financial institutions were in disarray after the stock market plunged to new lows.
A number of issues were pointed out to be causes of the
From this research, it is clear that moral behavior in individuals does depend on much more on the way that one considers the above theories. The main lives of people are guided by what on most times its considered to be upright. The different theories all try to explain the main aspects that humans beings have been considering when they want to become morally upright.
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