Business Ethics And Practices Of Goldman Sachs

NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Learner: Demetrice S. Campbell | | MGT7019-8 | Douglas Buck | | | Ethics in Business | #3 Paper- Case study: What is Up With Wall Street? The Goldman Standard and Shades of Gray | | | Academic Integrity: All work submitted in each course must be the Learner’s own. This includes all assignments, exams, term papers, and other projects required by the faculty mentor. The known submission of another person’s work represented

behind to become unselfish. That is the foundation of morality. It is quintessence of all ethics, preached in any language, or any religion, or by any prophet in the world. “Be thou selfish”, “I”, but ‘Thou” that is the background of ethical codes.” - Swami Vivekananda Finance and Accounting is the only business function that accepts the responsibility to act I public interest. Hence the onus lies on the

employees engaged in illegal practices. Some of the problem include: I. Saying things you know are not true: Goldman’s analysts said many things that were not true to investors including saying that a security was a good investment when indeed it was not. II. Giving or allowing false impressions: Goldman’s layering strategy allowed the false impression that the stock price of the investment firms had increased or that the stock was very popular and wanted, but in fact, Goldman bought 90 percent of the

What is up with Wall Street? The Goldman Standard and Shades of Gray Introduction The problem to be investigated is the application of business ethics. In the business world, ethics are extremely important. Ethics are prime elements that help a business to grow and to become more productive. It is by applying proper business ethics that a business can operate in a moral or ethical business environment and managed to conduct all activities in a manner that maximizes profits while not compromising

1. Goldman Sachs should have been punished for its behavior in the years leading up to the financial crisis. Goldman ended up settling with the federal government for $110 Billion, which I do not believe was sufficient based on the magnitude of problems created. This amount should have been much larger, and at minimum they should have forfeited the $14 Billion paid to them by AIG. (Inside Job, 2011) In addition, AIG should have had the right to sue Goldman Sachs for fraud. It was in the public’s

displayed very questionable behavior. Companies like Goldman and Sachs utilizing questionable trading techniques in order to gain a financial profit while leaving behind companies in the dust and eliminating hundreds if not thousands of jobs in the process. Ethics is more than doing what’s right or wrong. It’s a way of life and how we can have an effect on others. Question 1: Go back through the case and make a list of each action or practice that could be called a gray area. The Layering Strategy:

Ethics in Accounting By Pace University – New York Accounting for Decision Making, MBA 640 Fall 2011 Required Research Paper Page 1 of 11 Table of Contents Number Content Page Number 1 Introduction 3 2 Ethics in Accounting 4 3 Enron Scandal 6 4 Satyam Scandal 8 5 Conclusion 10 6 References 11 Page 2 of 11 Introduction • What is “Ethics”? Ethics, also known as moral philosophy, is a branch of philosophy that addresses questions

Ethics in Consulting Ethics dilemmas in consulting Ethics has become an important topic in business today with good reason. Just look at the headlines: Rajat Gupta Scandal, Anil Kumar and Rajaratnam scandal, Enron, Worldcom, Health South, Great depression, financial crisis due to unethical behaviour by the banks etc. All of these cases are related to consultants either directly or indirectly and they occurred due to the moral fallacy of some of them. Ethics is an extremely relevant value in

d. Troubled Asset Relief Plan 23. This new initiative creates a watch dog to ensure accurate information need to for mortgages, credit cards, and other financial products, and protect consumers from hidden fees, abusive terms, and deceptive practices? a. Advance Warning Systems b. Protects Investors c. Consumer Protections with Authority and Independence d. None of above 24. Based on different decision made concerning subprime lending how did this fiasco develop? a. Less than

ETHICS AND SOCIAL RESPONSIBILTY ASSIGNMENT 1.1 A stakeholder of a company is an individual or group which either; is hurt by, or profits from, the enterprise; or whose rights can be abused or must be regarded by the organization.(Crane and Matten,2007: 57) In the financial crisis case study, one can safely identify shareholders, bank customers and government as some of the stakeholders who are affected by the banking sector crisis triggered by the egoistic need to make a return on capital and deregulations