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In: Economics

Do you think the ethical fabric in Goldman Sachs has been worn out. Give you own...

Do you think the ethical fabric in Goldman Sachs has been worn out. Give you own views

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Expert Solution

The given case scenario, focusing upon the scandal of 1MDB and contribution in the scandal from the end of Goldman Sachs, shows that the ethical fabric in Goldman Sachs is getting worn out very fast. The company deals with the financial securities, management  consulting and underwriting services among the others. These services bring unwritten rule to follow ethical guidelines and protect the best interests of the investors as stakeholders of the business. But, Goldman Sachs forgot all the ethical aspects, and manipulated documents, prepared false statements, gave bribe to the officials and took unexpectedly high fee for the services offered to the 1MDB. It was against the regulations and once got noticed by the authorities, the Goldman Sachs got exposed, despite the assertion by the Goldman Sachs that it has done nothing wrong. But, evidences of bribe, unreasonable profits earned and other benefits to the Goldman Sachs employees, showed that scandal took place. It concludes that Goldman Sachs has lost its ethical fabric while trying to get business at any cost.

Rahul Sunny answered 2 years ago
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