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In the article discussed in this paper we see how a person in power takes advantage of his position for personal gain.
Henry M. Paulson was the Treasury secretary during the Bush Administration. He was also a major shareholder of Goldman Sachs. Mr. Paulson wanted to make it seem as if his ethical standards were implacable. He sold all his shares of Goldman Sachs and vowed not to get involved in any issues associated with the investment banking sector since he had many friends and colleagues in the industry. Getting involved in issues associated with the investment banking sector would constitute a conflict of interest ethical violation. A conflict of interest occurs when a person has a conflict between his private interest and the individual public obligations (Answers, 2009). The Treasury secretary was in the middle of the entire bailout package scandal. When the government allocated $85 million dollar of the bailout money to the American International Group (AIG), Mr. Paulson’s former employer, Goldman Sachs, received millions of dollars in debt collection from AIG as a consequence of the bailout package deal.
Even though Henry Paulson claims he did nothing wrong and that his actions were not unethical in any way because he was simply doing his job as secretary of treasury, many Wall Street experts believed Goldman Sachs received preferential treatment during the entire process. During the AIG bailout package took place Mr. Paulson spoke the CEO of Goldman Sachs over two dozen times (Morgenson & Van Natta, 2009). The amount of phone calls exceeds by a lot the conversations the governmental official had with any other Wall Street executive. Mr. Paulson claimed he received an ethics waiver. To me this waiver seems like a cheap excuse because the treasury secretary’s actions were clearly an ethical violation since his former employer was receiving preferential
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The panel acts as a supervising and regulating body for takeovers as well as other matters in the application of the code. The central objective of the Panel on Takeovers and Mergers remained to ensure that there is a fair and equal treatment for shareholders of companies in the takeover bids.
ETHICS MANAGEMENT Your Name Your University Your School of Engineering, Social Sciences, etc Number and Name of Course Instructor's Name 17 March 2011 Abstract This paper presents the ethical dilemmas encountered by people in the business and management sector.
However, this assumption may not be entirely true. Corporate bodies are out to ensure that they make as much money as they possibly can, but in doing so, must consider both the legal and ethical customs. Corporate heads have responsibilities, both to the law and society, to uphold certain moral grounds when it comes to their business dealings.
When we perform actions and take steps in life, we often do sit back and reflect on the ethical value of our actions. In other words, we do analyse if we are being ethical in leading our lives and sticking to what is morally right.
Many ethicists strongly believe that there is always a right way to chose based on the morality principle while others believe the right thing to do depend on the situation at hand. Ethics are the fundamental ground rules that help us lead a good life. What is considered an ethical guideline in this generation becomes a law, regulation or rule for the next.
"The US economy continues to flounder as figures reported point to an unemployment rate greater than many had expected.” The non-farm payrolls showed 598,000 jobs had been lost in January 2009 (Fletcher, 2009).
Amidst the financial
t the employees are being exposed to in relation to the work (Bangemann 2007) James Hardie Industries (JHI) is the mother company of fibre cement technology and develops a wide range of fibre cement building products. Nonetheless, a medical research conducted showed that there
Despite the company having a strong desire to succeed among other competitors, it was declared bankruptcy in Canada and the United States. After conducting a financial analysis, it was evident that the
reasingly important for a business to survive in the currently highly competitive corporate sector, organizational leaders have found themselves having to plan for both long-term and instantaneous projects, goals and objectives. Mergers and acquisition have continuously been
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