Ethical and Legal issues concerning sub-prime mortgage lenders Outline I. Introduction II. Subprime History III. What lead to subprime lenders making unethical and illegal decisions IV. What safe guards are in place V. Conclusions VI. Works cited page Introduction When most people hear the phrase “subprime lending”, the first thoughts that come to mind are the mortgage meltdown; predatory lenders, high interest mortgages for borrowers who have poor credit or low
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Prepare a brief chronology of the key events that occurred during this takeover offer. Sep 1, 2005 Lion Made offical offer to take offer cooper offering $260/share for cooper shares Sept 1, 2005 Cooper board of director going to meet and discuss this offer, no action should be taken at this time. Sept 06, 2005 Board of Director of Cooper recommend shareholder should reject the offer Takeover panel review Sept 1, 2005 appeal by Cooper about Lion offer that does not explain the preemptive
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of Shirley Lach, converted the partnership to he Man O’ War Limited Liability Company. As to the Limited Partnership dissolution because Lach, a general partner, did not vote for dissolution of the partnership it breached the general partners’ fiduciary duty. As to defense, the general partners rights under the original partnership agreement to terminate the partnership at any time upon agreement of the general partners and to act upon behalf of the Partnership in matters that are necessary because
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Abstract July 2012, after one decade of the scandal ENRON and associates, the history was repeated, with one of the most prestigious banks, JPMorgan Chase had announced the losses of almost $ 5.8 billion from a dysfunctional trading operation, as a result of gambling with other people’s money, on Wall Street. JPMorgan’s report to the SEC that the bank recorded a $718 million loss from the London trades on its internal accounts, but did not report the loss in its first quarter earnings
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of this scenario. Some stakeholders have little or no control over the choices a company or employee of the company makes, and others like Joe, Bill and Tom can have a major impact on other stakeholder’s interests. Joe, Tom and Bill all have a fiduciary duty to the shareholders/owners of these respective companies. Their choices must reflect good judgment and must stay within legal guidelines. Joe’s job is to secure contracts for Uwear, but he must do so within the parameters that has been set
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Class 1 Chapter 1 The law is written. Capital punishment is illegal. It means putting to death the person. Class 2 Chapter 4 Direct discrimination takes place when an employer adopts a rule which on its face discriminates against people based on one of the many factors listed in human rights codes. For example, a rule like “no Catholics, women or blacks can be employed here” would be an obvious case of direct discrimination. Thankfully, such blatant discrimination is rare. Adverse effect discrimination
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the SEC: Section 10b5-1) A person, who possesses nonpublic information, is considered an “insider”. Insider trading, therefore, is defined by the U.S. Securities and Exchange Commission (SEC) as, “buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security” (U.S. Securities and Exchange Commission, 2001). It is both illegal and unethical for vital information, known only by
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:Topic 1:Introduction and Regulatory Framework- Regulation can relate to two things: Regulate what an organisation can or must do (eg trade, pay tax, employ staff, pay debts), Regulate how an organisation functions (eg how it comes into being, how it is managed and operated and how and when it ceases to be). Why are corporations used (good and bad)? To allow for investment, To allow capitalism to flourish, To permit the sharing of risk, To permit investors to shelter from risk, To permit investors
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requirements for when enterprise funds are required · cash flow statement of proprietary funds – categories and items · long term liabilities of enterprise funds on Net Position Statement- when should they be shown? · Nature of fiduciary funds · Use and nature of Agency funds · Defined-benefit versus defined contribution plans/differences. · Use of Pass-through grants- accounting treatment · investment trust fund- when used · Private purpose trust
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Tavonna Triplett Career Paper Accounting The different types of accounting careers are Public, Government, National, Management, Financial, Tax, and. Fiduciary Accounting. Public accounting is the most varied type and includes bookkeeping, account management and financial analysis for individuals, private businesses, public firms, government or NGOs, which are either based nationally are internationally. A public accounting business can have one or more accountants and both certified and non-certified
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