Study Document
Pages:6 (1748 words)
Sources:10
Subject:Business
Topic:Ethical Issues In Business
Document Type:Thesis
Document:#12316585
However, some of the most difficult ethical issues involve speculative homebuyers who did not misrepresent their financial qualifications but who understood enough about the housing market and the direct connection between wide-scale mortgage fraud and its effect on artificial real estate appreciation but chose to profit by "flipping"
homes nevertheless. The actual harm caused by any single person in that fashion is likely impossible to measure; on the other hand, such practices by so many investors collectively were responsible for the eventual collapse of the U.S. housing market in
2007 and much of the resulting damage to the nation's economy (Bhide, 2009; Nocera,
2009). Only ethical egoism would have allowed such practices; utilitarianism, virtue ethics, and altruism would all have required reporting the rampant business ethics violations in the mortgage, loan, and investment banking industries, even absent specific legal violations.
References
Bhide, a. (2009). "Why Bankers Got So Reckless" Business Week, February 9, 2009.
Bradley, D. (2008). "Real Estate Fraud." The FBI Law Enforcement Bulletin, 77(9).
Friedman, L.M. (2005). A History of American Law. New York: Simon & Schuster.
Halbert, T., Ingulli, E. (2007). Law & Ethics in the Business Environment. Cincinnati:
West Legal Studies.
Hursthouse, R. (1999) on Virtue Ethics. Oxford: Oxford University Press.
Lowenstein, R. (2007). "Subprime Time: How Did Home Ownership Become So
Rickety?" New York Times Magazine; Sept. 2/07.
Mihaly, M. (2007). "Moral Theory: The Fundamentals." Ethics & Behavior, 17 (4).
Nocera, J. (2009). "Risk Mismanagement: Were the Measures Used…
References
Bhide, a. (2009). "Why Bankers Got So Reckless" Business Week, February 9, 2009.
Bradley, D. (2008). "Real Estate Fraud." The FBI Law Enforcement Bulletin, 77(9).
Friedman, L.M. (2005). A History of American Law. New York: Simon & Schuster.
Halbert, T., Ingulli, E. (2007). Law & Ethics in the Business Environment. Cincinnati:
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