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Post by clintbeilke on Oct 10, 2012 17:00:20 GMT -5
The fact of the matter is that Goldman Sachs was betting against bad securities that it was selling. Although the action was found to be legal, it was without a doubt an unethical act. The reason that this decision is unethical is because it fails at least 3 of the 5 questions: -Will I be proud to tell of my action to my family? To my employer? To the news media? -Am I willing for everyone to act as I am thinking of acting? -Will my decision cause harm to others or to the environment?
If I were an executive at Goldman Sachs, I believe that I would not have allowed my company to bet against its own bad securities that we are selling to investors. And if I could not stop it, I would ensure that all responsible were ousted from the company in order to uphold my company's image, and maintain honesty and integrity.
I would guide my decision making based on the 5 questions for individual values. And given my response to each of the questions, I would know how to decide. It would not be an issue of doing the right thing. I just
I believe that, while we should certainly follow the letter of the law, it is most important to be ethical in our decision making.
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