PRESENTED BY NIKHIL TIWARI SCALE OF THE SCANDAL… “This dwarfs by orders of magnitude any financial scam in the history of markets “ -Andrew LO‚ Professor of Finance‚ MIT WHAT IS LIBOR ? Libor is the benchmark interest rate that affects how consumers and companies borrow money across the world. It the average interest rate calculated through the submission of interest rates by major banks in London. It is controlled by British Bankers ’Association(BBA) WHAT IS AFFECTED
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Causes of Accounting Scandals: The accounting entities and accountants of the world have defined several standards and ethical guidelines that need to be and must be followed by the accountants so that things are not misrepresented and no wrong information is provided to the investors. The accounting information generated by any company is generally used by external entities and stakeholders as well and hence it is crucial to maintain and define some standards and practices that serve the purpose
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The Iran Contra Affair Scandals‚ never really a matter but did this not mean that they were non-existent. Scandals do exist in the United States the biggest scandals are the one where everybody is involved I’m referring to the presidential scandals. Society took notice of how government was keeping information a secret. So U.S citizens dove in deeper to the political region to discover these unknown facts. Presidential scandals became more known after LBJ pentagon papers. Then suddenly Nixon’s
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Enron: Shaping The Future of Ethics In Business “Give me the story– please‚ the story. If I can finally understand the case in simple terms‚ I can‚ in turn‚ tell the same story to the jury and make them understand it as well. I go about my life confused most of the time‚ but when I get something clear I usually can communicate it. Getting it clear is not the work of huge minds‚ which often are baffled by themselves‚ but the labor of ordinary minds that understand simplest of stories… most of all
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power. This renowned leadership may be the only association made by certain countries‚ while in the United States many see an other significance: Watergate‚ Whitewater‚ Kennedy’s brutal and mysterious assassination‚ and today‚ Clinton’s "zippergate" scandal. When the President of the United States takes oath‚ he gives up a part of his life. His private life becomes the public’s life‚ and they feel the right to know what happens behind the Oval Office. Now the Presidency must battle against Newspaper
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Duke Lacrosse scandal‚ which decimated a top collegiate athletic program and cast a negative shadow over one of the top academic universities. Duke University had one of the top men’s lacrosse programs in the county‚ which had won numerous national championships. Unfortunately‚ the decisions and actions of some of the team members threatened to destroy the reputation of the lacrosse program and the entire university. The media and society have developed a large appetite for scandal that is still
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Case summary – Enron Corporation’s Weather Derivatives Steve Haik‚ Dan Sleker and Bas van Bellegem – March 2003 Background In October Mary Watts‚ CFO of Pacific Northwest Electric (PNW) reviewed the forward plan for PNW’s 200-2001 season. PNW’s has been experiencing nearly no EPS growth since 1995 due to deregulation and warmer-than-average winter climate. The stock price had suffered accordingly‚ but there maybe a way to hedge the weather risk via a new “weather derivative” being proposed by
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and to role model what is right and what is wrong. However their honor and solidarity can compromise their integrity little by little and lead to corruption. Here we will discuss the Los Angeles Police Department CRASH Unit and the ultimate Rampart Scandal and how police characteristics aided in its corruption. During the early 1990’s‚ The Los Angeles Police Department thrived on their work done within the CRASH (Community Resources against Street
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Nude Photos Scandal Goes Full-On ’NCIS’ As Investigators Fight Burnout‚ Taunting A probe into the military’s nude photos scandal channels the popular ’NCIS’ television drama. However‚ the investigation into tens of thousands of leaked naked images of soldiers is real and nearing a boiling point. http://www.msn.com/en-us/news/us/investigators-in-nude-photo-sharing-scandal-face-a-grueling-task/ar-BBAOt0b?li=BBnb7Kz According to an MSN investigative report on the nude photo-sharing scandal‚ nearly two-dozen
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statement includes “A commitment to premium ingredients‚ signature recipes‚ and family-friendly dining experiences is what has defined our brand for more than 50 successful years” (BK‚ 2013). BURGER KING® did not release the report of this scandal to the public. This scandal surfaced on January 15‚ 2013‚ when the Food Safety Authority of Ireland (FSAI) first published the findings of a targeted study examining the authenticity of a number of beef burger‚ beef meal and salami products. The study which tested
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