Review of Accounting Ethics - Week 3 Alessio Brasile Strayer University Financial Accounting ACC-557 Dr. A. Golding April 28, 2013 Review of Accounting Ethics - Week 3 Given the corporate ethical breaches in recent times, assess whether or not you believe that the current business and regulatory environment is more conducive to ethical behavior: In the past several years, Enron, WorldCom, Tyco, and others have committed financial scandals, which caused the stock market to take a hard hit
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The Great Depression The Great Depression was the first bubble that Goldman Sachs made explode and got away with next to no penalty. They were just beginning as an immigrant owned business with the idea to gain money by loaning it out to people at interest. They blew up around the depression for their practice in “investment trust”. They offered stock and made the average guys feel like they were investing a lot but they knew little of the process. Once they invested, the company bought their
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Going to the Oracle: Goldman Sachs, September 2008 1. Description of the situation Goldman Sachs, one of the most important financial institutions in the US suffered from the historic financial crisis in 2008, particularly because of the demise of insurer AIG given the systemic disruption in the markets and the collateral damage provoked by trading operations with AIG. Even if the company had a strong record in risk management avoiding market downturns, this situation caused Goldman Sachs stock
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1 绪论 1.1 研究意义 随着金融全球化的发展，资本账户开放已经成为一国发展过程中不可避免的趋势。发达国家资本账户的开放程度普遍较高，发展中国家也相继放松对资本流动的限制以及其他一些资本项目管制。 资本账户开放增强了全球范围内的资本流动性，提高了资源配置的效率，为全球金融发展提供了极大的机遇。但是另一方面，资本管制的放松和资本流动性的提升也使金融市场份额风险性增加。银行作为金融市场的核心，资本账户的开放对银行体系必然有不小的影响，而银行体系天然具有的传染性特质使得其系统性风险问题变得尤为重要。 改革开放以后，我国资本账户管理政策不断改革，目前已经实现了经常项目完全可兑换和资本项目部分可兑换，而资本账户开放步伐还在逐渐加快。伴随着大规模的外资涌入我国金融市场，银行体系在金融市场日益开放的过程中很可能受到冲击。把握我国银行体系系统性风险的情况，研究资本账户开放程度与系统性风险之间的关键，有利于在我国逐步推进资本账户开放的过程中化解银行体系中的风险问题，增强银行体系自身的保护能力，避免传染性扩张带来的单个银行问题的扩大化，从而更加有效地维护银行体系的稳定性，保证金融市场的健康发展。
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China’s Real Estate Bubble China has been nothing short of a financial miracle. In just 30 years, this state-controlled economy became the world’s second largest, deftly managed by government policies and decrees. But one of the biggest concerns is the real estate and construction that may have created the largest housing bubble in human history. If you go to China, it’s easy to see why people concerned about this problem. Many place in China are building new apartments and houses right now
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The U.S. government's decision to allow Lehman Brothers to fail is a double-edged sword. The implications behind allowing Lehman Brothers to fail include a massive domino effect on the U.S. market, the world markets and many large companies Lehman Brothers invested in and acquired over the years. During the first and second quarter of 2008 Lehman’s stock value decreased by 73% due to exorbitant losses which in turn led to 1,500 employees becoming unemployed. Lehman’s stock value decreased further
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that surrounds an organization, is the economic dimension, which encompasses the overall health and stability of the economic climate that the company operates in. In the case of Goldman Sachs, the firm was inevitably touched by the global financial crisis and was forced to convert from an investment bank to a holding-company bank in 2008. Although executives attempted damage control, there were factors in play beyond their control, causing Goldman Sachs company stock price to fall approximately 50%
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In The Divide, Matt Taibbi discusses the attempted destruction of Fairfax Financial Holdings, a large Canadian-based bank firm. Because of Fairfax's honest and fair past record, Morgan Keegan, an American-based bank firm, and Exis Capital Management found Fairfax threatening in terms of dominating the American economy (Fairfax had recently joined the American economy). As a result, Morgan Keegan bought large quantities of short investments- borrowing stocks and selling them in order to make a profit-
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During the birth of many nations, the founding governments struggle to find a perfect balance of economic stability and political bliss. It was no different after the American Revolutionary War ended in the United States. The Revolutionary War had a devastating economic impact on the newly established country ("Shay's Rebellion - Historic Northampton Museum and Education Center"). With the large acquired debt, the first thing the new government decided was to raise taxes on its citizens to make up
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does not involve Fuld’s assertion of power, is unworthy of the reputation he has developed around his image. Most of Lehman’s high corporate officials operate similar to Fuld. Lehman executives lied about the quality of its collateral (sub-prime mortgages), basically the collateral was worthless. In addition, the billions of dollars Lehman would borrow, were reported as revenue on their financial statements. The need to preserve and display Lehman’s prowess is essential to the firm's survival. “Tangible
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