Fadi Mardini Philosophy 305 Professor: Christopher Pallotti February 23, 2016 Intelligence or Scourge Ethics is a moral principle that governs a person’s or group’s behavior. Some people are born with a high ability to lie, convince and manipulate other people’s opinions. Some people care only about their goals; without considering the results that it would cause on others. Being able to manipulate other people’s opinion after they have given you their trust is moral; however, it could also be dangerous if it is used by the wrong people, because they might mislead others to do stuff in their favor.People tend to follow those who offer means of satisfying their own needs, wishes, and desires. We look at their experience and we hear their …show more content…
This procedure was going on for over Bernie, in fact, opened up two company that he did not even need one was in Florida and the other one was in new York, he also hired employees and staff and brought computers to make it look like a proper company, the whole company was run by his two sons Mark and Andrew and his brother Peter. These were all fake things he made just so people see. In an interview conducted with him Bernie said” It’s like a money machine, easy peasy, I have never lifted heavy weight. Bernie used his ability to convince people to mislead them to do what he wants. Subsequently, The United States Securities and Exchange Commotion wanted to investigate Bernie’s company because the profit he was giving was “unreasonable.” And also the American Recession pressured everyone to draw their money at the same and it went public that Bernie was not investing the money but just circling it around. That resulted in failure in the company and Bernie was caught for attempting an unethical behavior, Ponzi Scheming. Bernie argued that he did not do anything wrong. All he was doing was legal and he did give people what he promised them. He said “Everybody thinks the worst of me. The only thing I’m happy about is I was able to help people recover … There’s nothing for me to change from. It’s not like I ever considered myself a bad person. I made a horrible mistake and I’m
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Ethics is the moral principles that govern a person's behavior or the conducting of an activity. It is the moral values that a person believes in. The way that a person interacts with others. The golden rule of treating others how you would like to be treated. Having good ethics is a basis for having a successful business.
First, it is important to define ethics and how its components play an extensive role in our society. The term ethics is defined as “Moral principles that govern a person 's behaviour or the conducting of an activity.” (Oxford); ethical decisions are the ones that per se determine whether or not murder is wrong. Likewise, ethics consists of different ramifications and perspectives from many philosophers. Moreover,
Bernie Madoff, the founder of Bernard L. Madoff Investment Securities, ran one of the biggest schemes in history. Bernie Madoff stole $65 billion dollars from his investors over the course of two decades. He stole money from victims such as Steven Spielberg, Kevin Bacon, Carl Shapiro, thousands of wealthy retirees, charities, and supposedly sophisticated financial firms. He convinced them to give him their money by falsely promising profits in return. He was caught in December 2008 and pleaded guilty in March 2009. He was charged with 11 counts of fraud, money laundering, perjury, and theft. He was arrested and is now facing 150 years in prison. The people caught working with him on this scheme were five of his employees , his accountant and
Ethics derives from the Greek word ethos which means character. Essentially ethics is a theory of proper moral conduct. Essentially, in ethics one is trying to make a distinction between what is the case between what ought to be the case. A key player in ethics is the moral agent. A moral agent is a person that has an ability to reflect on moral issues. Moral actions conform to the law and immoral actions do not conform to the law.
Synopsis A childhood friend summed up the driving force in Bernie Madoff’s life: “Bernie wanted to be rich.” As a youngster growing up in New York City, Bernie realized that Wall Street was the greatest wealth creation machine the world had ever known. So, after graduating from college in 1960, he set his sights on joining the exclusive fraternity that ran Wall Street by organizing his own one-man brokerage firm, Madoff Securities. Madoff was one of the first individuals to recognize that computer technology provided the means to “democratize” Wall Street by establishing a system that made securities trading much more efficient and much cheaper. In the early 1970s, Madoff and several other individuals
“While Sanders’ does not want to spend significant amounts of money, almost all of it is on things we’re already paying for; he just wants to change how we pay for them” (Bernie Sanders is Not Going to Bankrupt America). His plans predominantly revolve around readjusting taxes, so technically, we will not be put into an even larger debt than what we are already in. He intends to prevent American companies from avoiding paying U.S. taxes by corporate inversions (On the Issues). In 2013, Bernie Sanders introduced a legislation that will break up major Wall Street banks (Bernie’s Story). Sanders will close loopholes that allows American corporations to artificially inflate or accelerate foreign tax credits (On the Issues). By taxing Wall Street speculators and ending tax breaks for capital gains, Bernie Sanders will have the perfect plan to support his financial changes that will better the
Webster’s Dictionary defines ethics as “a set of moral principles: a theory or system of moral values.” (Merriam-Webster, Incorporated, 2011). Every person has ethics that he or she lives by, but sometimes in the business world many unethical business transactions occur. People do not realize that sometimes the statistics that he or she are fed have been falsified in order to get him or her to purchase a product or lure him or her in to participate in via false promises.
According to the New Oxford American Dictionary, ethics is defined as “moral principles that govern a person’s or group’s behavior.” Therefore, in an ideal world, ethics should play the ultimate role when making a decision. If ethics are the principles which guides one’s behavior then, ideally, all decisions should be made entirely based on ethics. Unfortunately, such is not always the case.
Bernie Madoff was successful for so long because he kept a high level of secrecy in his firm. If a question or a concern was brought up, he instead focused on his many years of success. In an interview with Frontline, Michael Bienes, a CPA who fed Madoff clients during his early years, explained why so many people never questioned Bernie Madoff. When asked a question, Madoff would answer in a way to confuse even an expert. As was the sentiment of many who worked with
Ethics are constantly regarded as the moral principles that influence a person’s behavior. Ethics are concerned with distinguishing between good and evil and is a concept that persuades people to act in the most positive way. Each society has created their own ethics where everyone is expected to follow certain values. Deviance from each established ethics system is met with social cost that regards deviating from the established norms as morally corrupt and potentially can be justified actions that will have them return to the system or leave society. Ethics can be societally agreed upon, to the point in which all individuals that belong to that society agree that such values are true. Part of our innate urge to be accepted by society not
He not only lost all of the money that he had gained from his investors, but also lost his freedom of life in the process. Bernie Madoff has been one of the "most deceitful men known in the 21st century
Ethics refers to a system of moral standards that guide the decision for human conduct of what is right and wrong based on everyday life situations, usually in terms rights, obligations, benefits, fairness, or virtue. Ethics is used as a formal guideline for conducting business in order to minimize pain to the greater number of people as a whole. The principles of ethics come from the knowledge and understanding of the word of God, the Bible. It tells us how we ought to think and behave toward one another considering first, how we want to be treated. For instance, we have the right to freedom of speech as long as we don’t insult the integrity of others. In addition, God gives us examples for how make right decisions and
So what is ethics? George W. Reynolds states that “ethics is a set of beliefs about right and wrong behaviour within a society” and that “ethical behaviour conforms to generally accepted norms” with almost all of them being universal. As we all know, certain behaviours such as cheating and lying are
Ethics are moral principles or values that govern the conduct of an individual or a group.It is not a burden to bear, but a prudent and effective guide which furthers life and success. Ethics are important not only in business but in academics and society as well because it is an essential part of the foundation on which a civilized society is built.
Ethics is the branch of philosophy that deals with the principles correlated to human behavior concerning the rightness and wrongness of specific conduct, and to the good and bad that influences and ends those actions (Ditonary.com, 2011). In other words, ethics is the choice people effect in regards to a decision they need to achieve. Without ethics directing the choice an individual makes, moral preferences of what should or should not be done becomes irrelevant. While ethical decisions are made every day there are two different regions in which these choices are made.