Banking Industry Meltdown: The Ethical and Financial Risks of Derivatives Steven Young Strayer University Dr. Mary Tranquillo Business Ethics: Ethical Decision Making and Cases November 29‚ 2012 Determine which moral philosophy (as discussed in chapter 6) is most applicable to an understanding of the banking industry meltdown Moral philosophy in business is hard to classify‚ especially in today’s economic times where there are government bailouts‚ loss of paying jobs‚ home foreclosures
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Banking Industry The Banking Industry was once a simple and reliable business that took deposits from investors at a lower interest rate and loaned it out to borrowers at a higher rate. However deregulation and technology led to a revolution in the Banking Industry that saw it transformed. Banks have become global industrial powerhouses that have created ever more complex products that use risk and securitisation in models that only PhD students can understand. Through technology development‚
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ethics using the understanding I gained during the E100 course. The paper also discusses why I selected virtue ethics as my personal philosophy and how I might best apply my personal philosophy to my professional and personal life. Virtue is a trait of character manifested in habitual action‚1 and virtue ethics is what makes the character traits of people (e.g.‚ bravery‚ greediness) virtuous or vicious. About 2500 years ago‚ Aristotle‚ one of the most well known names in philosophy stated that the
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Understanding Moral Understanding Throughout time there has always been this nagging question of what is right and what is wrong. As of yet‚ there is no universal agreement on the correct answer to that question‚ which leads to wondering: how do we even begin to make the decision of morals and where do they come from? Are morals imbedded in us from birth or are they programmed into us through life‚ nature verses nurture? According to psychology moral understanding is a process. No one starts
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MORAL PHILOSOPHY What is moral philosophy ? Moral philosophy is the branch of philosophy that is concerned with ethics. Ethics can be defined as the study of right and wrong in human endeavours‚ it helps one to answer such questions as what is the proper course of action in a given situation‚ what one should do ? It helps us identify the moral correctness of our conduct. From the very dawn of philosophy right up until this very day‚ ethics has been at the very core of the rational thinkers cognizance
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Moral Philosophy “Principles or rules that people use to decide what is right or wrong” 1.TELEOLOGY:- * An act is considered morally right or acceptable if it produces some desired result‚ i.e.‚ pleasure‚ knowledge‚ career growth‚ a self-interest‚ or utility. * Theory that derives duty from what is valuable as an end‚ in a manner diametrically opposed to deontological ethics. Teleological ethics holds that the basic standard of duty is the contribution that an action makes to the realization
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Everyone human being on the planet carries with them a moral philosophy of some sort. For some people it is a way of life‚ and they consult their philosophy before making any moral decision. However‚ for many their personal moral philosophy is undefined or unclear to them. Perhaps these people have a philosophy of their own that they abide to; yet fail to recognize that it exists. What I hope to uncover with this paper is my moral philosophy‚ and how I apply it in my everyday life. In my life
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Moral Philosophy is arguably one of the most ambiguous forms of philosophy‚ but is also one of the most necessary. We‚ as humans‚ seek some moral reference point from which we can assign moral good and bad in everyday life. However‚ it is not clear exactly which moral standard‚ if any‚ is closest to this intangible moral ideal. The problem is that‚ when speaking of morality‚ there are so many factors and perspectives to consider. First there is the intention of the person which determines the desired
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Philosophical ethics are an attempt to define moral action. Theories try to answer questions such as ‘what is a moral action?’ and ‘how should men act?’ In the case of classical theories the main question is ‘What is the good life? We all grow up learning our ethics‚ or morals‚ from our parents and society. As we grow we are told things; do not cross the road alone‚ clean your room. But there are a set of instructions that we are told‚ and we grow to learn that they have quite a different motive
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Homosexuality in Modern American Culture: Understanding‚ Reconciling‚ Resolving Samuel Nze Contemporary Moral Issues Sister Marian Brady Fall 2012 Homosexuality is a contemporary moral issue in modern America. It is also a controversial one. Homosexuality simply defined is the situation wherein an individual prefers to have sexual relations with members of the individual’s own sex. Homosexuality applies to male and female‚ and the acts considered homosexual are not delimited to sexual
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