{"id":1,"date":"2013-09-16T13:02:09","date_gmt":"2013-09-16T20:02:09","guid":{"rendered":"https:\/\/blogs.ubc.ca\/silvia\/?p=1"},"modified":"2013-10-07T03:11:04","modified_gmt":"2013-10-07T10:11:04","slug":"1","status":"publish","type":"post","link":"https:\/\/blogs.ubc.ca\/silvia\/2013\/09\/16\/1\/","title":{"rendered":"Business Ethics for Financial Institution"},"content":{"rendered":"<p>Recently, I have watched a movie called \u201cinside job\u201d which describes how investment bank cheat the buyer of the financial derivatives during the financial crisis of 2008. It is not a traditional type of cheat, which concerns the non-conforming goods. It is more about the moral obligation in essence.<\/p>\n<p>The financial institution such as Lehman brother and Goldman sachs sells numerous highly risky CDO mainly consist of bad credit house loan to buyers. The problem is those firms claim that those CDO is rated highest, which means those assets are safe and definitely profitable. When those derivatives\u2019 market collapse, the innocent buyers suffer from it and the banker gains. The banker can even make more profit from the CDS that they cooperate with the insurance company.<\/p>\n<p>The shocking fact is that those bankers are not being arrested, instead, they have better works. The public blames their action and can do nothing at all. This is mainly due to the loopholes of the laws. My opinion is we can not always look for the law to limit the action of people, the law can not be perfect at any time. The law is designed by human beings , so the human beings can definitely find the weakness of it. The core problem we should consider is everyone in those society must have social obligation. we can not do immoral things to cheat others.<\/p>\n<p>Reference:<\/p>\n<p>Charles, Ferguson, dir.\u00a0<i>Inside Job\u00a0<\/i>. Dir. Marrs Audrey. Sony Pictures Classics, 2010. Film. 16 Sept 2013.<\/p>\n<p><iframe loading=\"lazy\" title=\"Inside job ITA (2010)\" width=\"584\" height=\"329\" src=\"https:\/\/www.youtube.com\/embed\/AsjeObJMDQQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><br \/>\n<strong><em><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, I have watched a movie called \u201cinside job\u201d which describes how investment bank cheat the buyer of the financial derivatives during the financial crisis of 2008. It is not a traditional type of cheat, which concerns the non-conforming goods. &hellip; <a href=\"https:\/\/blogs.ubc.ca\/silvia\/2013\/09\/16\/1\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":19551,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blogs.ubc.ca\/silvia\/wp-json\/wp\/v2\/posts\/1","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.ubc.ca\/silvia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.ubc.ca\/silvia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/silvia\/wp-json\/wp\/v2\/users\/19551"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.ubc.ca\/silvia\/wp-json\/wp\/v2\/comments?post=1"}],"version-history":[{"count":5,"href":"https:\/\/blogs.ubc.ca\/silvia\/wp-json\/wp\/v2\/posts\/1\/revisions"}],"predecessor-version":[{"id":12,"href":"https:\/\/blogs.ubc.ca\/silvia\/wp-json\/wp\/v2\/posts\/1\/revisions\/12"}],"wp:attachment":[{"href":"https:\/\/blogs.ubc.ca\/silvia\/wp-json\/wp\/v2\/media?parent=1"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/silvia\/wp-json\/wp\/v2\/categories?post=1"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.ubc.ca\/silvia\/wp-json\/wp\/v2\/tags?post=1"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}