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Essay / Research Paper Abstract
This 3 page paper discusses whether or not government should be involved with ethical considerations in the business community. Bibliography lists 5 sources.
Page Count:
3 pages (~225 words per page)
File: D0_HVBusGov.rtf
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discusses whether or not government should be involved with ethical considerations in the business community. Discussion This question is difficult to answer; some industries are heavily regulated and understand
the necessity for it and some would resent excessive government oversight. But in the wake of the scandals in which many employees lost their life savings, the public seemed
to demand some sort of government intervention (Turk, 2003). The weak performance after 9/11 and on into 2002 prompted the government to analyze the nations economy (Turk, 2003).
Securities markets "ebbed to a level not seen since ... the nadir of the Great Depression, and 1941, the eve of World War II. From March 2000 through December 2002,
investors saw $7.4 trillion in wealth evaporate from the 5,000 largest domestic companies" (Turk, 2003). While the government was initially inclined to blame foreign competition for the problems,
the collapse of Enron and other scandals forced it to examine "the crisis of principles within the corporate culture" (Turk, 2003). The government decided that corporations were "perched on
the shifting sands of ethical ambivalence and obfuscated laws that government itself had manufactured. The answer: More law" (Turk, 2003). The corporate scandals that rocked the country were
more than embarrassing for Enron, WorldCom and the rest: they cost Americans more than three million jobs (Turk, 2003). It is at this point, when "issues become melodrama
in the public eye" that the government responds (Turk, 2003). New legislation was hurriedly introduced to cover "loopholes" and "restore accounting principles and corporate balance sheets" (Turk, 2003).
But its not clear if this kind of response, i.e., rushing to enact legislation to put on top of older legislation, is desirable or undesirable. Turks "tone" in this
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