Question
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
Solutions
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 agoRelated Solutions
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