Professional Documents
Culture Documents
below. There are no specific details (that I have found) to review on this yet. How will the
ethically upright organization leverage these new opportunities versus the unethical, “built-to-
crash” organizations?
across industries may contribute to, and be influenced and affected by, specific business
practices is the 2007–2009 subprime mortgage lending crisis, in which some of the largest banks
in the United States and other countries bundled asset-backed securities with real estate,
including individuals' home mortgages, as collateral and then sold these to Wall Street investors.
Such financial products were highly popular and promised huge returns, but they were bogus,
and the result was a near global financial meltdown” [CITATION Wei14 \p 2.4 \l 1033 ].
“Yesterday, the U.S. House of Representatives passed legislation that would repeal parts
of the Dodd-Frank Act originally passed by Congress in 2010 in reaction to the financial crisis.
The Choice Act would allow businesses that meet certain capital requirements to undertake more
risk, institute a new bankruptcy code, allow the President to fire the Consumer Financial
Protection Bureau agency head at will and would remove the Department of Labor's fiduciary
rule. The bill was passed with a party line vote and now heads to the Senate where its fate will be
References
Dodd-Frank. (2017, June 9). Harrisburg Online. Harrisburg, PA, USA. Retrieved June 9, 2017
Weiss, J. W. (2014). Business Ethics: A Stakeholder and Issues Management Approach (6th ed.).
San Francisco, CA, USA: Berrett-Koehler Publishers, Inc. Retrieved May 4, 2017