Panama Papers

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The Panama Papers James Kerrigan General Studies/Rader School of Business Milwaukee School of Engineering Author Note James Kerrigan, General Studies/Rader School of Business, Milwaukee School of Engineering Prepared for HU 432 007 Ethics for Managers & Engineers Professor Paul Hudec and submitted 5/4/2016 Correspondence regarding this article should be directed to: E-mail: kerriganjp@msoe.edu Abstract In this paper, the topic being analyzed is the Panama Papers. The Panama Papers are being described as the biggest collection of documents ever to be leaked. This paper will discover, present, and judge the facts of what had happened and then through the Ethical…show more content…
After this data was leaked even some of them were forced to resign including Icelandic Prime Minister Sigmundur Davíð Gunnlaugsoon, and Spanish Industry Minister José Manuel Soria. However, Ramón Fonseca, Director of Mossack Fonseca, complained that his firm was the victim of “an international campaign against privacy.” At a time where privacy does seem to be under attack on all fronts, it is relevant to ask whether the super-rich ought to be able to enjoy financial privacy with respect to their offshore accounts or should that be made to keep their financial records public for all to see. Figure 1. What is the Case? Although, first we need to understand a bit more about the case before we can take a look at it through ethical eyes. The truth of the case here is privacy, something that most people of American believe in, however there is a big calling for transparency as well. Privacy allows people to guard things that they think is no one else’s business. As for this case of financial privacy about offshore accounts, it’s a type of privacy for personal financial information and the wealthy. The rich have a different view for this privacy, some decide to try and hide their wealth so they help determine which friends are their true friends and not friends that are just after their money. They also might use this privacy to hide their social class as well. The less people know about one’s assets, in particularly one’s inherited assets, the more it
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