Case Study: What Is Up with Wall Street? the Goldman Standard and Shades of Gray

Topics: Goldman Sachs, Ethics, Business ethics Pages: 6 (1920 words) Published: November 18, 2012

Learner: Demetrice S. Campbell

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MGT7019-8| Douglas Buck|
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Ethics in Business| #3 Paper- Case study: What is Up With Wall Street? The Goldman Standard and Shades of Gray| | |

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<Faculty Name><Grade Earned><Writing Score><Date Graded> Running Head: What Is Up with Wall Street? The Goldman Standard and Shades of Gray

What is up with Wall Street? The Goldman Standard and Shades of Gray Demetrice S. Campbell
Ethics in Business
November 11, 2012

Case Study of Goldman Sachs
What is up with Wall Street? The Goldman Standard and Shades of Gray was a case study focused on the company Goldman Sachs and the unfolding of a horrible decision that affected the economic structure of our banking system, stock shares, and the government. Their strategies to make a more successful business, ended with them being greedy for more money and success. These strategies lead to questions of their ethical standards in their business practices. The company was founded by Marcus Goldman and Samuel Sachs in 1869 (Jennings, 2012). The company was supposed to provide loans to small businesses, but instead Goldman wanted to do investments. Greed caused the company to turn a blind eye to what was really going on and this resulted in several downfalls for the company and others involved. The 1929 market crash was one result of the company’s practices. Rather than doing what was right, Goldman and Sachs just carried on running into many walls. The problem to be investigated is the ethical standards of the company in relation to their investors and the price they pay.

The problem to be investigated here is the ethical standards of the company in relation to their investors and the price they pay. In the corporate world, business ethics are very important and can be costly. Sometimes ethics can be over looked to motivate people. Ethics should be important elements of our day to day functions. It is important to realize the importance of business ethics if you want your business to grow. This could have a positive or negative impact on the productivity of the company. Business ethics are made up of a lot of subjective topics. Some people think that business ethics are comparative. There are many things that businesses take part in that can be seen as gray area. Gray areas are situations in which the rules are not clear, or you are not sure what is right or wrong. Key items include lying and false representation. Goldman may have committed both these behaviors just to have greed and a successful company. Things that Goldman did that would be in the gray area include: a. Sophisticated Investor--by definition, it is to escape full disclosure to its clients. Goldman made offerings to sophisticated investors, but failed to tell the whole story and their position in the investment or the market. Since then, the Dodd-Frank Wall Street Reform Act has better clarified the definition to prevent firms from withholding information b. Analysts and two opinions—He...
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