Corporate Scandal
Running head: CORPORATE SCANDAL 1
Sheri Bardot
Ashford University OMM 640 Business Ethics and Social Responsibility Prof. Tricia Devin Corporate Scandal in America: Week 6
March 17, 2012
COROPORATE SCANDAL 2
The unethical business practices of Enron, Leman Brothers and Bernie Madoff caused severe financial losses for the American people. These catastrophes could have been prevented if more stringent ethical safeguards were in place and enforced within the walls of the financial institutions. Millions of business transactions occur every day. These transactions, if not policed by local and federal authorities, have the potential to knock the American economic structure off balance.
In the last decade, three note-worthy scandals have nearly destroyed the American financial business, our employment rates and our way of life. The Enron scandal, Lehman Brothers and the infamous Bernie Madoff, have forever changed the way we do business. These scandals are even more damaging to the United States because they were perpetuated by our own elected officials, who willingly and knowingly accepted contributions and other forms of payment in exchange for their legal leniency (Nichols, 2002).
Enron was an extremely powerful corporation based in Houston, Texas. In addition to its other businesses, they became a key player in the brokering of energy supplies in the United States. Enron grew to be very influential in the local communities, state and government regions by using its deep pockets to fund its agendas (Lavelle, 2001).
Enron used its power and influence to hire the best lobbyist’s money could buy. It was reported that “Enron supplied corporate jets for Bush 's entourage as it crisscrossed the country
COROPORATE SCANDAL
Sheri Bardot
Ashford University OMM 640 Business Ethics and Social Responsibility Prof. Tricia Devin Corporate Scandal in America: Week 6
March 17, 2012
COROPORATE SCANDAL 2
The unethical business practices of Enron, Leman Brothers and Bernie Madoff caused severe financial losses for the American people. These catastrophes could have been prevented if more stringent ethical safeguards were in place and enforced within the walls of the financial institutions. Millions of business transactions occur every day. These transactions, if not policed by local and federal authorities, have the potential to knock the American economic structure off balance.
In the last decade, three note-worthy scandals have nearly destroyed the American financial business, our employment rates and our way of life. The Enron scandal, Lehman Brothers and the infamous Bernie Madoff, have forever changed the way we do business. These scandals are even more damaging to the United States because they were perpetuated by our own elected officials, who willingly and knowingly accepted contributions and other forms of payment in exchange for their legal leniency (Nichols, 2002).
Enron was an extremely powerful corporation based in Houston, Texas. In addition to its other businesses, they became a key player in the brokering of energy supplies in the United States. Enron grew to be very influential in the local communities, state and government regions by using its deep pockets to fund its agendas (Lavelle, 2001).
Enron used its power and influence to hire the best lobbyist’s money could buy. It was reported that “Enron supplied corporate jets for Bush 's entourage as it crisscrossed the country
COROPORATE SCANDAL
References: Price, J. (2009). Behind bars in Butner, Madoff shares secrets of scam. McClatchy - Tribune Business News, 1. Rosato, D. (2010). How Well Is she Protecting You?. Money, 39(2), 108-111. Taibbi, M. (2011). WHY ISN 'T WALL STREET IN JAIL?. Rolling Stone, (1125), 44-51. The Real Enron Scandal. (2002). New Republic, 226(3), 7. Thomas, E., Hirsh, M., Smalley, S., Philips, M., & Summers, N. (2009). Paulson’s Complaint. Newsweek, 153(21), 52-55.