Singapore Management University Goldman Sachs in Libya

The opportunity for power and competition seems to also be one of the largest intersecting parts of this whole debacle. In the film, I heard and saw that these bankers placed bets on the crash of all the loans. These bankers knowingly put countless families and individuals in

Robber Barons cheat and compete to cruel measures. Robber Barons often justify their actions with the Social Darwinism philosophy. They only look out for themselves which meant low wages, bad working conditions, building monopoly, etc. They seek power, wealth, and do not show much concern for their public image. A political cartoon (Document E), Herman, Viola, Why We Remember: United States History, Scott Foresman-Addison Wesley Publishing Company, resembles a monopoly being created which can be interpreted as John D. Rockefeller, a notorious Robber Baron, building his standard oil company with other associations and companies such as, Insurance company, Gas company, Smaller Oil companies, Savings Bank, etc. The New York Times, May 24, 1937 (Document F, lists the major gifts given by Rockefeller by the time of his death the same year, which shows that even though Rockefeller was considered a man of bad morals, he did show that he is charismatic. It also demonstrates how he attempted to balance his bad actions with good ones. In an interview with William H. Vanderbilt(Document A), another well-known Robber Baron, published in the Chicago Daily News, October 9, 1882, he establishes his carelessness by saying things such as “The railroads are not run for the benefit of the “dear public” --- that cry is all nonsense…” and “The public be

Q1 – What was up with Wall Street? The Goldman Standard and Shades of Gray.

After completing a book, have you ever said to yourself “Wow, I would never be able to look at the world the same anymore?” All the Presidents’ Bankers: The Hidden Alliances That Drive American Power by Nomi Prins does just that. All the Presidents’ Bankers: The Hidden Alliances That Drive American Power by Nomi Prins changed my view on banks and the United States dollar, I would have never thought that banks had such a big influence on politics to the point where they can determine the outcome of the future. After reading the book, I believe Nomi Prins did an excellent job explaining how banks influence politics in America and thus control our political and economic futures.

During the times leading up to the power struggle, the power dynamic within Lehman was steadily shifting as trading profits became increasingly more important to Lehman versus traditional investment banking profits. Thus, Glucksman was able to step into the spot light and Peterson became more expendable. Peter Peterson’s core

The Divide by Matt Taibbi In The Divide, it covers the major differences between the very high wealthy and the lower class. HSBC is the first thing that the book starts discussing. The company admitted to stealing around seven billion dollars.

In 2008 America’s financial system was brought to a stand still as decades of negligence and financial decisions caused our economy to sink into the worst recession since the great depression. Cultivating a problem worse than America has seen in roughly a century points one finger not at a particular cause, but a string of events that finally gave way. Now, eight years later our economy is still recovering, and time has allowed us to look back at decades of mistakes to try and connect the dots of the perfect storm that collapsed our financial market in 2008. In 2009 Brookings Institution, one of Washington’s oldest think tanks, concluded there were three causes that resulted in the crisis. Economists Martin Baily and Douglas Elliot stated that the results of government intervention in the housing market, the influences Wall Street had on Washington, and global economic forces were the three main causes of the economic collapse. They believed that a housing bubble inflated when Fannie Mae and Freddie Mac, two government-sponsored enterprises, intervened in the housing market. The banking industry was called out to be blamed for years of manipulation of our political and financial systems. Lastly, Baily and Elliot cite the global economy and the existence of a credit boom throughout European and Asian nations. Low inflation and consistent growth throughout the world economy spiked investors’ interest in acquiring riskier investments, which encouraged

Viewing this article through the lens of the platonic framework is significant because it allows one to judge the acts of the Obama administration versus the acts of Wall Street executives in the aftermath of the previous recession. While the executives that are committing the injustice would be the most evil here for not only committing the unjust acts but for also not seeking their punishment and blaming it on low-level management, the administration is worse than the low-level management for the fact that they are not bringing justice either. This makes clear then why Lynch and Yates are attempting to correct this injustice that’s occurring

The significant finding from this article is that the world of finance is a very strange world. This world can offer opportunities to many, and at the same time, it can prove to be a mess for the others. Many people are not corrupt in their person, but by being negligent or by being careless, they fail at doing their duty successfully at some points in time. However, what the article talks about is the complete picture. Steven A Cohen faced a problem. He got entangled in an enormous financial mess.

This idea of ‘smartness’ being linked with the position of an upper-class man, was a universal want, especially of those who were not of the upper-class before. By creating this sense of superiority in a financial hierarchy, the investment bankers were able to reach the ego of the naïve undergraduate students. Constantly advertising this idea that the students were indeed “the best”, “the greatest”, and “the brightest” (Ho 167), investment bankers were able to persuade to the students that Wall Street was the place to be; a luxurious place to be filled with rich people with power and respect. With this aspect, an environment was created that that aroused an interest within students to pursue a field in banking. This way of marketing is very similar to the marketing campaign in Watters’ text, and Watters’ research can help better understand how investment bankers try beguile students into pursuing a career the bankers themselves want

One of the activities that may be regarded to be in the gray area for Goldman is when the company created another company then bought 90% of the shares of the second company with its own money. Then without the knowledge of the public, Goldman wanted to buy a piece of the company. This meant that Goldman could sell the shares that they had bought in the company for a higher

In the wake of the recent financial crisis, many commentators attempted to analyze the roots of the conflict from a political or economic perspective. Anthropologist Karen Ho, a veteran of Wall Street as well as an academic, attempted to understand the reason that Wall Street behaves the way it does in her 2009 anthropological study of American finance entitled Liquidated: An ethnography of Wall Street from a cultural perspective. The central paradox with which Ho begins her book is: " the economy experienced not only record corporate profits and the longest rising stock market ever, but also record downsizings," further concentrating the wealth in America (Ho 2009: 1-2). But how can corporations grow richer as the American public as a whole grows poorer? Corporations no longer view themselves as responsible for taking care of their employees, creating good products, or serving their original mission. Instead, the focus is on generating shareholder wealth (Ho 2009:3). Shareholders, not the larger public, have become the symbolic and real focus of firm strategy. The shareholder "symbolized and 'stood in' for the whole of the corporation and became the sole locus of concern and analysis" during the time Ho conducted her study in the late 1990s and continues to this day (Ho 2009:175)

| #3 Paper- Case study: What is Up With Wall Street? The Goldman Standard and Shades of Gray

Buying influence or engaging in conflicts of interest: Goldman engaged in activities were the companies and their customers’ interest conflicted. Still they moved forward in making money off them. Also, although not specifically stated on the case, the fact many formers Goldman executives held government positions proved to be a conflict of interest itself. Some of those people still had strong relations within Goldman and it can be said that one way or the other Goldman took advantage of that.

This work will examine the case 'Banking Industry Meltdown: The Ethical Financial Risk Derivatives" and determine which moral philosophy is most applicable to an understanding of the banking industry meltdown and explain the rationale. The case study will be analyzed and white-collar crimes considered as to whether they are different in any substantive manner from other more blue-collar crimes. This study will determine and discuss the role that corporate culture played in banking industry scenario and the response will be supported with specific examples. This work will postulate how leaders within the banking industry could have used their influence to avert the industry meltdown.