Tip-Toeing the Fine Line Between Morality and Legality

goldman_sachs

The regulation circumventing techniques employed by Goldman Sachs as outlined in the New York Times article pose questions regarding the delicate balance between pursuit of profit, and blatantly acting in a corrupt/unethical fashion. Goldman Sachs demonstrates, through their manipulation and artificial inflation of the price of aluminum, the way in which businesses will push the boundaries of morality in order to attain their financial goals. This begs the question, however: though Goldman Sachs is essentially hoarding stocks of resources, which is blatantly illegal, is it still wrong if they technically aren’t doing anything illegal? Should the boundaries of ethics in business be defined strictly by the law itself; or should “ethics” refer to a standard code of decency, superseding written rules, that businesses should adhere to regardless of the loopholes that they can find themselves taking advantage of? Goldman Sachs would certainly plead the former, but as a consumer who finds himself faced with artificially rising prices putting more money in the pockets of those who have more than they would/should ever need, I’m not so sure.

 

link to image: http://images.businessweek.com/ss/08/09/0904_first_jobs/image/goldman_sachs.jpg

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