Business Ethics

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Joy Washington

University of Maryland

Business Ethic

Date July 26, 2010

Business ethics are the policies implemented by corporations to govern honorable practices in the business environment. Many corporations, whom have not implemented ethics policies within their organizations, have gained the perception of operating in an unethical environment. Problems such as inside trading, fiduciary and discrimination are a large part of business ethics.

If organizations want to project a positive ethical image, it must enforce policies on ethical practices within their organizations. When corporations enforce business ethics within their organizations, individuals will conduct business according to company guidelines regarding policies on ethics. In 2008, Lehman Brothers filed for bankruptcy due to employees unethical practices regarding the housing market. Those unethical decisions made by employees have lead to thousands losing their life savings and employees losing their jobs for personal profit.

After the fall of Lehman Brothers, there was chaos in the globe financial markets. The government initiated bail out programs for companies with large sums of money in bad housing investments to avoid major disasters of the industry. American International Group (AIG) was one of the recipients of the bail out. However, the government thought they were providing help to a failing company by loaning AIG about 180 billion dollars, only to find out they handed out bonuses in the excess of 165 million in executive bonuses. Presidents Barak Obama handled a press conference expressing how disappointed he was that AIG took taxpayer money more for personal gain and not for the benefit of the company and stockholders.

According to New York Times (2009) California Representative Maxine Waters is currently on trial for violation of ethical rules. Maxine Waters is accused of improperly intervening with federal officials on behalf of a local bank. Mrs. Water, husband...