Enron's Code Of Ethics

High mortgage rates destroyed the value of mortgage-backed loans, which is the primary asset of the savings and loans association. The fixed-rate loans were sold at a loss in order to balance withdrawals. That asset liability mismatch was identified as the primary cause of the savings and loan crisis. Jobs were lost and unemployment rose from around 7.5% to more than 10%. The recession caused a loss of 2.9 million jobs, representing a 3% drop in payroll employment.

Citron began gambling county funds on risky investments, which paid off until 1994 when those risky investments did not pan out handing the county a one-in-a-half-billion-dollar bill owed. When the citizens of Orange County refused to agree to raise taxes, the state legislator had to step in and bailout the Orange County. The debt Orange County has accumulated and defaulted make the county and the surrounding counties undesirable for business and economic growth. Citron plead “guilty to six felony counts,” served a year under house arrest, and was fined 100,000 dollars; and the county and surrounding countries suffered financially and status (Shafritz and Borick 2011, 99). The county also

Five days later, the day known as “Black Tuesday”, another 16 million shares were traded. After multiple waves of panic, and the wake of the stock market crash, production slowed to an alarming level. For the next few years the United States experienced a drop in consumer spending and investment, which caused a decline in industrial output and a steep rise in unemployment. Factories and other businesses were forced to lower wages and fire several employees. By 1933, thirteen to fifteen million Americans were unemployed, and nearly half of the banks throughout the country failed.

The new consumer culture is what led to 16.5 million shares being sold in one day, which was detrimental to the stock market as it caused the crash on October 29, 1929. Many lost a great deal of money, marking the start of the Great Depression. The excessive consumer culture also led to a vast majority of prosperity going towards the industrial economy instead of the

The Great Depression was the worst collapse in American economic history. Most people believe that it was caused by a crash in the stock market, but that’s not all. The culture and events that occurred after the Great War and the 20’s resulted in the crash. Many people fell into debt and lost their houses and became poor. People that once thought they had everything had nothing.

This tragic event sent Wall Street into a complete frenzy and took out millions of investors. Over the next few years, consumer investment and spending decreased. This caused sharp declines in manufacturing production and rising levels of unemployment. By 1933, 13 plus million Americans were unemployed and nearly half of the country’s banks failed (Coker, 2005). Thanks to the reform and relief measures placed by President Franklin D. Roosevelt helped diminish the most horrible effects of the Great Depression.

Banks were making money off their mortgage loans they were selling off in synthetic CDO’s. These debts were actually worthless. When the housing market and Wall Street crashed, many lost their investments. These were meant to be safe investments but because of the actions of the banks, mortgage brokers and many other factors, millions lost everything. The Big Short Conclusion The Big Short is relevant to the content outlined in the SAG document for

Ethical leadership is a growing concept and many large companies are promoting business ethics as their corporate social responsibility. The behavior and the individual values of the leader provide the direction to the business. Leader’s actions in term of ethical behavior and unethical behavior gives ideas to the employee and other stakeholders that what need to follow and what values are aspired in an organization. The position of the leader with moral and ethical values is most important to provide the solutions to ethical issues in a workplace. This also evident from above discussion that ethical leadership is also crucial in developing the ethical culture within an organization.

People stopped using banks. Millions of people lost all their savings when many banks ran out of funds and closed. Your father and mother are among several million persons who have lost their jobs. Your family has no money to buy food because the banks. People began losing money, and were forced to sell their stocks at much lower prices.

“The British Virgin Islands (BVI) court noted that Adamovsky then shifted the $71.6m fee, only half of which was legally his, to Stockman Interhold SA, his other BVI corporation, without the knowledge of his co-owners.” according to the Jewish Chronicle. If he was willing to steal money from his business partners he may have also been stealing from the organization. Adamovsky was still Vice President for some time, even after he was proven guilty of defrauding millions of dollars. Instead of allowing corrupt leaders and organizations handle this money